Glens Falls New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Glens Falls, NY (the Glens Falls metro area) was $923 in 2019 according to the Census ACS survey.1 Average gross rent in Glens Falls was $892 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Glens Falls median and average rent data will be released in September of 2021.
Data is also available below for Glens Falls rental vacancy rates, Glens Falls rent as a percent of median income and the fraction of renters in Glens Falls.
Real Gross Rent in Glens Falls New York (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| New York Median Gross Rent | $1,309 | +0.93% | +4.72% |
| Glens Falls, NY Median Gross Rent | $923 | +2.33% | +1.65% |
Glens Falls, NY Real Gross Rent Trends
At $923, real median gross rent in Glens Falls was at its highest level in 2019 since the series began in 2005. Average gross rent for Glens Falls peaked in real terms in 2017 at $906 and is now $14 (1.55%) lower.
Real Gross Rent in Glens Falls: Glens Falls NY Median, Glens Falls NY Average, New York Median, US Median
Real Gross Rent History for Glens Falls
| Date | US Median |
New York Median |
Glens Falls, NY Median |
Glens Falls, NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $923 | $892 |
| 2018 | $1,077 | $1,297 | $902 | $892 |
| 2017 | $1,043 | $1,264 | $852 | $906 |
| 2016 | $1,027 | $1,250 | $908 | $873 |
| 2015 | $1,017 | $1,244 | $892 | $845 |
| 2014 | $986 | $1,212 | $855 | $797 |
| 2013 | $953 | $1,168 | $870 | $839 |
| 2012 | $940 | $1,148 | $894 | $900 |
| 2011 | $941 | $1,143 | $850 | $839 |
| 2010 | $955 | $1,140 | $854 | $848 |
| 2009 | $960 | $1,121 | $886 | $814 |
| 2007 | $927 | $1,066 | $846 | $778 |
| 2005 | $910 | $1,051 | $838 | $766 |
Glens Falls Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Glens Falls New York was 6.74% according to Census ACS data.
Rental Vacancy Rate in Glens Falls New York
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| New York | 4.00% | -0.20% | -0.42% |
| Glens Falls, NY | 6.74% | +4.57% | -1.91% |
Trends in Glens Falls, NY Rental Vacancy Rate
The rental vacancy rate in Glens Falls peaked in 2017 at 9.52%. Since then it has fallen by 2.78% to 6.74%. Data records for this series originated in 2005. From a 2018 post peak low of 2.17%, the rental vacancy rate has increased by 4.57%.
Rental Vacancy Rate: Glens Falls NY, New York, US
Historical Rental Vacancy Rate data for Glens Falls
| Date | US | New York | Glens Falls, NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | 6.74% |
| 2018 | 6.15% | 4.20% | 2.17% |
| 2017 | 6.18% | 4.19% | 9.52% |
| 2016 | 5.89% | 4.42% | 8.65% |
| 2015 | 5.85% | 4.41% | 4.57% |
| 2014 | 6.32% | 4.34% | 7.63% |
| 2013 | 6.49% | 4.17% | 5.26% |
| 2012 | 6.77% | 4.34% | 6.02% |
| 2011 | 7.40% | 4.48% | 3.26% |
| 2010 | 8.17% | 5.03% | 5.60% |
| 2009 | 8.43% | 4.78% | 5.79% |
| 2007 | 7.87% | 4.70% | 4.87% |
| 2005 | 7.74% | 4.80% | 5.86% |
Rent as a Fraction of Income
Using median household income data for Glens Falls, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Glens Falls, median monthly gross rent as a fraction of median household income was 18.08% in 2019 according to the ACS.
Glens Falls New York Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| New York | 21.78% | -0.75% | -0.99% |
| Glens Falls, NY | 18.08% | -0.55% | -1.04% |
Trends in Glens Falls, NY Rent as a Fraction of Income
The fraction of median Glens Falls household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 19.12%. Since then it has fallen by 1.04% to 18.08%. From a 2017 low of 16.88%, the fraction of income going to rent has increased by 1.20%.
Fraction of Income towards Rent: Glens Falls NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Glens Falls New York
| Date | US | New York | Glens Falls, NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 18.08% |
| 2018 | 20.50% | 22.53% | 18.63% |
| 2017 | 20.13% | 22.67% | 16.88% |
| 2016 | 20.43% | 22.78% | 19.12% |
| 2015 | 20.63% | 23.13% | 18.29% |
| 2014 | 20.89% | 23.40% | 18.74% |
| 2013 | 20.78% | 23.20% | 18.51% |
| 2012 | 20.65% | 22.94% | 18.89% |
| 2011 | 20.70% | 22.98% | 18.26% |
| 2010 | 20.50% | 22.60% | 18.00% |
| 2009 | 20.12% | 21.60% | 18.26% |
| 2007 | 18.66% | 20.34% | 19.01% |
| 2005 | 18.89% | 20.40% | 17.52% |
Renter Fraction in Glens Falls New York
You can calculate the renter fraction in Glens Falls 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 Glens Falls as a fraction of total Glens Falls households. In 2019 26.87% of households were renters according to Census ACS data.
Glens Falls Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| New York | 46.48% | +0.15% | -0.24% |
| Glens Falls, NY | 26.87% | -4.22% | -1.86% |
Trends in the Glens Falls, NY Renter Fraction
The Glens Falls household renter fraction peaked in in 2008 at 32.51% and is now 5.64% below that level. From a recent low of 25.90% in 2017, the household based renter fraction has now grown by 0.97%. The origin year for the series is 2005.
Fraction of Renting Households: Glens Falls NY, New York, US
History of Glens Falls Renter Fraction
| Date | US | New York | Glens Falls, NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 26.87% |
| 2018 | 36.05% | 46.33% | 31.09% |
| 2017 | 36.13% | 46.20% | 25.90% |
| 2016 | 36.88% | 46.72% | 28.73% |
| 2015 | 36.97% | 46.93% | 28.64% |
| 2014 | 36.90% | 47.02% | 27.86% |
| 2013 | 36.50% | 46.35% | 29.78% |
| 2012 | 36.09% | 46.35% | 26.64% |
| 2011 | 35.42% | 46.41% | 28.72% |
| 2010 | 34.65% | 45.75% | 27.97% |
| 2009 | 34.13% | 44.97% | 26.77% |
| 2007 | 32.80% | 44.48% | 28.28% |
| 2005 | 33.10% | 44.67% | 26.52% |
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. ↩
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