Department of Numbers

Lincoln Nebraska Residential Rent and Rental Statistics

The median monthly gross residential rent in Lincoln, NE (the Lincoln metro area) was $767 in 2015 according to the Census ACS survey.1 Average gross rent in Lincoln was $809 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 Lincoln median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Lincoln Nebraska (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Nebraska Median Gross Rent $750 +1.63% +8.07%
Lincoln, NE Median Gross Rent $767 +2.68% +11.97%

Lincoln, NE Real Gross Rent Trends

At $767, real median gross rent in Lincoln was at its highest level in 2015 since the series began in 2005. At $809, real average gross rent in Lincoln was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Lincoln: Lincoln NE Median, Lincoln NE Average, Nebraska Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Lincoln

Date US
Median
Nebraska
Median
Lincoln, NE
Median
Lincoln, NE
Average
2015 $959 $750 $767 $809
2014 $930 $738 $747 $780
2013 $898 $709 $714 $741
2012 $886 $694 $685 $726
2011 $887 $685 $691 $738
2010 $901 $705 $722 $768
2009 $905 $692 $706 $722
2008 $920 $699 $711 $757
2007 $874 $680 $697 $727
2006 $883 $686 $703 $729
2005 $858 $671 $717 $758

Lincoln 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 Lincoln Nebraska was 3.51% according to Census ACS data.

Rental Vacancy Rate in Lincoln Nebraska

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Nebraska 5.65% -0.15% -0.32%
Lincoln, NE 3.51% +1.11% -1.02%

Trends in Lincoln, NE Rental Vacancy Rate

The rental vacancy rate in Lincoln peaked in 2008 at 12.09%. Since then it has fallen by 8.58% to 3.51%. Data records for this series originated in 2005. From a 2014 post peak low of 2.40%, the rental vacancy rate has increased by 1.11%.

Rental Vacancy Rate: Lincoln NE, Nebraska, US

Rental vacancy rate in Nebraska

Historical Rental Vacancy Rate data for Lincoln

Date US Nebraska Lincoln, NE
2015 5.85% 5.65% 3.51%
2014 6.32% 5.80% 2.40%
2013 6.49% 5.60% 5.61%
2012 6.77% 5.97% 4.53%
2011 7.40% 6.44% 6.15%
2010 8.17% 6.54% 5.30%
2009 8.43% 7.43% 5.46%
2008 7.86% 8.15% 12.09%
2007 7.87% 8.80% 6.83%
2006 7.70% 7.63% 7.64%
2005 7.74% 8.14% 7.89%

Rent as a Fraction of Income

Using median household income data for Lincoln, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lincoln, median monthly gross rent as a fraction of median household income was 17.04% in 2015 according to the ACS.

Lincoln Nebraska Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Nebraska 16.36% -0.54% -0.01%
Lincoln, NE 17.04% -0.27% +0.87%

Trends in Lincoln, NE Rent as a Fraction of Income

The fraction of median Lincoln household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 17.32%. Since then it has fallen by 0.27% to 17.04%.

Fraction of Income towards Rent: Lincoln NE, Nebraska, US

Percent of median household income going towards median monthly gross rent in Lincoln Nebraska

Historical Data for Annual Rent as a Fraction of Income in Lincoln Nebraska

Date US Nebraska Lincoln, NE
2015 20.63% 16.36% 17.04%
2014 20.89% 16.90% 17.32%
2013 20.78% 16.66% 16.50%
2012 20.65% 16.37% 16.18%
2011 20.70% 16.06% 16.52%
2010 20.50% 16.58% 16.41%
2009 20.12% 16.32% 16.45%
2008 19.00% 15.12% 14.54%
2007 18.66% 15.65% 15.33%
2006 18.90% 15.65% 15.02%
2005 18.89% 15.57% 15.51%

Renter Fraction in Lincoln Nebraska

You can calculate the renter fraction in Lincoln 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 Lincoln as a fraction of total Lincoln households. In 2015 40.76% of households were renters according to Census ACS data.

Lincoln Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Nebraska 34.10% +0.04% +0.44%
Lincoln, NE 40.76% +1.47% -0.16%

Trends in the Lincoln, NE Renter Fraction

The Lincoln household renter fraction peaked in in 2012 at 40.92% and is now 0.16% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Lincoln NE, Nebraska, US

Fraction of renters in Lincoln

History of Lincoln Renter Fraction

Date US Nebraska Lincoln, NE
2015 36.97% 34.10% 40.76%
2014 36.90% 34.06% 39.29%
2013 36.50% 33.96% 38.67%
2012 36.09% 33.66% 40.92%
2011 35.42% 33.09% 39.27%
2010 34.65% 32.62% 39.54%
2009 34.13% 32.76% 38.83%
2008 33.36% 30.70% 34.93%
2007 32.80% 31.24% 36.38%
2006 32.73% 32.10% 36.94%
2005 33.10% 31.76% 37.22%

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.