US Residential Rent and Rental Statistics
Median monthly gross residential rent in the United States was $1,097 in 2019 according to the Census ACS survey.1 Average gross rent was $1,164 in 2019. Median rent more accurately depicts rental rates in the middle of the distribution of rents than average rent and is thus preferred in the analysis below. 2020 US median and average rent data will be released in September of 2021.
Data is also available below for US rental vacancy rates, US rent as a percent of median income and the fraction of renters in the US.
Real Gross Rent in the US (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| Median Gross Rent | $1,097 | +1.86% | +6.82% |
US Real Gross Rent Trends
At $1,097, real median gross rent in the United States was at its highest level in 2019 since the series began in 2005. At $1,164, real average gross rent in the United States was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in the US: Median, Average
Real Gross Rent History for the US
| Date | US Median | US Average |
|---|---|---|
| 2019 | $1,097 | $1,164 |
| 2018 | $1,077 | $1,144 |
| 2017 | $1,043 | $1,116 |
| 2016 | $1,027 | $1,099 |
| 2015 | $1,017 | $1,083 |
| 2014 | $986 | $1,047 |
| 2013 | $953 | $1,013 |
| 2012 | $940 | $997 |
| 2011 | $941 | $994 |
| 2010 | $955 | $1,008 |
| 2009 | $960 | $1,010 |
| 2007 | $927 | $970 |
| 2005 | $910 | $944 |
US 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 the United States was 5.97% according to Census ACS data.
Rental Vacancy Rate in the US
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Vacancy Rate | 5.97% | -0.18% | +0.08% |
Trends in the US Rental Vacancy Rate
The rental vacancy rate in the US peaked in 2009 at 8.43%. Since then it has fallen by 2.46% to 5.97%. Data records for this series originated in 2005. From a 2015 post peak low of 5.85%, the rental vacancy rate has increased by 0.12%.
Rental Vacancy Rate: National
US Rent as a Fraction of Income
Using median household income data for the US, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For the US, median monthly gross rent as a fraction of median household income was 20.03% in 2019 according to the ACS.
US Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Annual Rent as Fraction of Median Household Income | 20.03% | -0.47% | -0.40% |
Trends in US Rent as a Fraction of Income
The fraction of median US household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.89%. Since then it has fallen by 0.86% to 20.03%.
Fraction of Income towards Rent: National
Renter Fraction in US
You can calculate the renter fraction in the US 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 the US as a fraction of total US households. In 2019 35.89% of households were renters according to Census ACS data.
US Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Renter Fraction | 35.89% | -0.16% | -0.99% |
Trends in the US Renter Fraction
The the US household renter fraction peaked in in 2015 at 36.97% and is now 1.08% below that level. The origin year for the series is 2005.
Fraction of Renting Households: National
History of Above US Rental Statistics
| Date | Vacancy Rate | Percent Income | Renter Fraction |
|---|---|---|---|
| 2019 | 5.97% | 20.03% | 35.89% |
| 2018 | 6.15% | 20.50% | 36.05% |
| 2017 | 6.18% | 20.13% | 36.13% |
| 2016 | 5.89% | 20.43% | 36.88% |
| 2015 | 5.85% | 20.63% | 36.97% |
| 2014 | 6.32% | 20.89% | 36.90% |
| 2013 | 6.49% | 20.78% | 36.50% |
| 2012 | 6.77% | 20.65% | 36.09% |
| 2011 | 7.40% | 20.70% | 35.42% |
| 2010 | 8.17% | 20.50% | 34.65% |
| 2009 | 8.43% | 20.12% | 34.13% |
| 2007 | 7.87% | 18.66% | 32.80% |
| 2005 | 7.74% | 18.89% | 33.10% |
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. ↩
