Department of Numbers

Bay City Michigan Residential Rent and Rental Statistics

The median monthly gross residential rent in Bay City, MI (the Bay City metro area) was $626 in 2015 according to the Census ACS survey.1 Average gross rent in Bay City was $636 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Bay City median and average rent data will be released in September of 2017.

Data is also available below for Bay City rental vacancy rates, Bay City rent as a percent of median income and the fraction of renters in Bay City.

Show dollars as: Nominal Real

Real Gross Rent in Bay City Michigan (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Michigan Median Gross Rent $803 +2.42% +7.07%
Bay City, MI Median Gross Rent $626 -2.80% -7.40%

Bay City, MI Real Gross Rent Trends

Median gross rent for Bay City peaked in real terms in 2012 at $676 and is now $50 (7.40%) lower. Average gross rent for Bay City peaked in real terms in 2012 at $765 and is now $129 (16.86%) lower.

Real Gross Rent in Bay City: Bay City MI Median, Bay City MI Average, Michigan Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bay City

Date US
Median
Michigan
Median
Bay City, MI
Median
Bay City, MI
Average
2015 $959 $803 $626 $636
2014 $930 $784 $644 $617
2013 $898 $762 $629 $583
2012 $886 $750 $676 $765
2011 $887 $752 $615 $588
2010 $901 $769 $586 $619
2009 $905 $769 $597 $607
2008 $920 $788 $626 $630
2007 $874 $756 $564 $612
2006 $883 $781 $642 $610
2005 $858 $772 $580 $569

Bay City Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Bay City Michigan was 3.12% according to Census ACS data.

Rental Vacancy Rate in Bay City Michigan

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Michigan 5.19% -0.69% -1.54%
Bay City, MI 3.12% -6.32%

Trends in Bay City, MI Rental Vacancy Rate

The rental vacancy rate in Bay City peaked in 2009 at 12.01%. Since then it has fallen by 8.89% to 3.12%. Data records for this series originated in 2005.

Rental Vacancy Rate: Bay City MI, Michigan, US

Rental vacancy rate in Michigan

Historical Rental Vacancy Rate data for Bay City

Date US Michigan Bay City, MI
2015 5.85% 5.19% 3.12%
2014 6.32% 5.88%
2013 6.49% 6.04% 4.16%
2012 6.77% 6.73% 9.44%
2011 7.40% 7.72% 7.38%
2010 8.17% 9.60% 8.26%
2009 8.43% 9.48% 12.01%
2008 7.86% 9.73% 10.05%
2007 7.87% 9.66% 10.99%
2006 7.70% 10.42%
2005 7.74% 10.09% 4.97%

Rent as a Fraction of Income

Using median household income data for Bay City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bay City, median monthly gross rent as a fraction of median household income was 16.13% in 2015 according to the ACS.

Bay City Michigan Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Michigan 18.86% -0.11% -0.29%
Bay City, MI 16.13% -0.44% -2.02%

Trends in Bay City, MI Rent as a Fraction of Income

The fraction of median Bay City household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 18.43%. Since then it has fallen by 2.30% to 16.13%.

Fraction of Income towards Rent: Bay City MI, Michigan, US

Percent of median household income going towards median monthly gross rent in Bay City Michigan

Historical Data for Annual Rent as a Fraction of Income in Bay City Michigan

Date US Michigan Bay City, MI
2015 20.63% 18.86% 16.13%
2014 20.89% 18.97% 16.57%
2013 20.78% 19.09% 18.43%
2012 20.65% 19.16% 18.16%
2011 20.70% 19.29% 16.72%
2010 20.50% 19.29% 14.68%
2009 20.12% 18.99% 15.15%
2008 19.00% 17.44% 14.66%
2007 18.66% 17.09% 14.41%
2006 18.90% 17.17% 15.94%
2005 18.89% 17.07% 14.27%

Renter Fraction in Bay City Michigan

You can calculate the renter fraction in Bay City in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Bay City as a fraction of total Bay City households. In 2015 23.11% of households were renters according to Census ACS data.

Bay City Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Michigan 29.58% -0.18% +0.64%
Bay City, MI 23.11% +1.63% +0.59%

Trends in the Bay City, MI Renter Fraction

The Bay City household renter fraction peaked in in 2013 at 23.54% and is now 0.43% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bay City MI, Michigan, US

Fraction of renters in Bay City

History of Bay City Renter Fraction

Date US Michigan Bay City, MI
2015 36.97% 29.58% 23.11%
2014 36.90% 29.76% 21.48%
2013 36.50% 29.45% 23.54%
2012 36.09% 28.94% 22.52%
2011 35.42% 28.26% 20.57%
2010 34.65% 27.25% 22.09%
2009 34.13% 26.81% 20.35%
2008 33.36% 26.02% 22.79%
2007 32.80% 25.17% 20.25%
2006 32.73% 24.83% 19.59%
2005 33.10% 25.33% 20.01%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.