Department of Numbers

Gadsden Alabama Residential Rent and Rental Statistics

The median monthly gross residential rent in Gadsden, AL (the Gadsden metro area) was $594 in 2016 according to the Census ACS survey.1 Average gross rent in Gadsden was $595 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Gadsden median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Gadsden Alabama (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Alabama Median Gross Rent $743 +0.54% +6.45%
Gadsden, AL Median Gross Rent $594 -9.86% -1.66%

Gadsden, AL Real Gross Rent Trends

Median gross rent for Gadsden peaked in real terms in 2014 at $674 and is now $80 (11.87%) lower. Average gross rent for Gadsden peaked in real terms in 2010 at $610 and is now $15 (2.46%) lower.

Real Gross Rent in Gadsden: Gadsden AL Median, Gadsden AL Average, Alabama Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Gadsden

Date US
Median
Alabama
Median
Gadsden, AL
Median
Gadsden, AL
Average
2016 $981 $743 $594 $595
2015 $972 $739 $659 $573
2014 $942 $723 $674 $549
2013 $910 $698 $604 $525
2012 $898 $700 $579 $528
2011 $898 $709 $633 $581
2010 $912 $712 $650 $610
2009 $916 $715 $652 $528
2008 $932 $714 $644 $511
2007 $885 $674 $559 $511
2006 $895 $672 $624 $537
2005 $869 $639 $558 $535

Gadsden Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Gadsden Alabama was 5.21% according to Census ACS data.

Rental Vacancy Rate in Gadsden Alabama

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Alabama 10.34% +0.62% +1.17%
Gadsden, AL

Trends in Gadsden, AL Rental Vacancy Rate

The rental vacancy rate in Gadsden peaked in 2009 at 9.95%. Since then it has fallen by 4.74% to 5.21%. Data records for this series originated in 2005.

Rental Vacancy Rate: Gadsden AL, Alabama, US

Rental vacancy rate in Alabama

Historical Rental Vacancy Rate data for Gadsden

Date US Alabama Gadsden, AL
2016 5.89% 10.34%
2015 5.85% 9.72%
2014 6.32% 10.37% 5.21%
2013 6.49% 9.17%
2012 6.77% 7.79% 5.26%
2011 7.40% 8.30% 6.78%
2010 8.17% 9.64% 4.85%
2009 8.43% 10.33% 9.95%
2008 7.86% 9.73% 4.55%
2007 7.87% 9.25% 3.93%
2006 7.70% 8.72% 7.04%
2005 7.74% 9.21% 5.95%

Rent as a Fraction of Income

Using median household income data for Gadsden, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Gadsden, median monthly gross rent as a fraction of median household income was 17.32% in 2016 according to the ACS.

Gadsden Alabama Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Alabama 19.27% -0.27% -0.16%
Gadsden, AL 17.32% -0.67% -0.96%

Trends in Gadsden, AL Rent as a Fraction of Income

The fraction of median Gadsden household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 22.12%. Since then it has fallen by 4.80% to 17.32%.

Fraction of Income towards Rent: Gadsden AL, Alabama, US

Percent of median household income going towards median monthly gross rent in Gadsden Alabama

Historical Data for Annual Rent as a Fraction of Income in Gadsden Alabama

Date US Alabama Gadsden, AL
2016 20.43% 19.27% 17.32%
2015 20.63% 19.54% 17.99%
2014 20.89% 20.09% 19.78%
2013 20.78% 19.44% 18.28%
2012 20.65% 19.89% 19.96%
2011 20.70% 19.91% 22.12%
2010 20.50% 19.78% 20.36%
2009 20.12% 19.47% 18.38%
2008 19.00% 17.75% 18.14%
2007 18.66% 17.78% 17.25%
2006 18.90% 17.73% 20.23%
2005 18.89% 17.41% 17.24%

Renter Fraction in Gadsden Alabama

You can calculate the renter fraction in Gadsden 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 Gadsden as a fraction of total Gadsden households. In 2016 28.38% of households were renters according to Census ACS data.

Gadsden Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Alabama 31.55% -0.56% -0.41%
Gadsden, AL 28.38% +2.88% +0.41%

Trends in the Gadsden, AL Renter Fraction

The Gadsden household renter fraction peaked in in 2012 at 33.05% and is now 4.67% below that level. From a recent low of 25.50% in 2015, the household based renter fraction has now grown by 2.88%. The origin year for the series is 2005.

Fraction of Renting Households: Gadsden AL, Alabama, US

Fraction of renters in Gadsden

History of Gadsden Renter Fraction

Date US Alabama Gadsden, AL
2016 36.88% 31.55% 28.38%
2015 36.97% 32.11% 25.50%
2014 36.90% 32.32% 31.82%
2013 36.50% 31.96% 27.97%
2012 36.09% 31.25% 33.05%
2011 35.42% 30.11% 26.87%
2010 34.65% 29.88% 26.03%
2009 34.13% 30.42% 25.51%
2008 33.36% 29.01% 30.19%
2007 32.80% 29.10% 27.55%
2006 32.73% 28.22% 27.44%
2005 33.10% 29.48% 26.73%

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.