Department of Numbers

Limestone County Alabama Residential Rent and Rental Statistics

The median monthly gross residential rent in Limestone County AL was $599 in 2017 according to the Census ACS survey.1 Average gross rent in Limestone County was $611 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Limestone County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Limestone County Alabama (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Alabama Median Gross Rent $750 -0.66% +2.18%
Limestone County AL Median Gross Rent $599 -9.92% -4.62%

Limestone County AL Real Gross Rent Trends

Median gross rent for Limestone County peaked in real terms in 2010 at $712 and is now $113 (15.87%) lower. Average gross rent for Limestone County peaked in real terms in 2010 at $682 and is now $71 (10.41%) lower.

Real Gross Rent: Limestone County AL Median, Limestone County AL Average, Alabama Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Limestone County

Date US
Median
Alabama
Median
Limestone County AL
Median
Limestone County AL
Average
2017 $1,012 $750 $599 $611
2016 $996 $755 $665 $600
2015 $987 $750 $622 $616
2014 $956 $734 $628 $593
2013 $924 $709 $575 $540
2012 $912 $711 $654 $625
2011 $912 $720 $596 $580
2010 $927 $723 $712 $682
2009 $931 $726 $596 $617
2008 $947 $725 $558 $557
2007 $899 $685 $556 $509
2006 $909 $682 $618 $563

Limestone County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Limestone County Alabama was 4.46% according to Census ACS data.

Rental Vacancy Rate in Limestone County Alabama

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Alabama 10.99% +0.65% +0.62%
Limestone County AL 4.46% -5.43%

Trends in Limestone County AL Rental Vacancy Rate

The rental vacancy rate in Limestone County peaked in 2007 at 10.78%. Since then it has fallen by 6.32% to 4.46%. Data records for this series originated in 2005.

Rental Vacancy Rate: Limestone County AL, Alabama, US

Rental vacancy rate in Alabama

Historical Rental Vacancy Rate data for Limestone County

Date US Alabama Limestone County AL
2017 6.18% 10.99% 4.46%
2016 5.89% 10.34% 9.89%
2015 5.85% 9.72% 9.46%
2014 6.32% 10.37%
2013 6.49% 9.17%
2012 6.77% 7.79%
2011 7.40% 8.30%
2010 8.17% 9.64% 10.42%
2009 8.43% 10.33%
2008 7.86% 9.73% 9.38%
2007 7.87% 9.25% 10.78%
2006 7.70% 8.72%

Rent as a Fraction of Income

Using median household income data for Limestone County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Limestone County, median monthly gross rent as a fraction of median household income was 12.88% in 2017 according to the ACS.

Limestone County Alabama Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Alabama 18.70% -0.57% -1.39%
Limestone County AL 12.88% -2.57% -1.93%

Trends in Limestone County AL Rent as a Fraction of Income

The fraction of median Limestone County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 15.85%. Since then it has fallen by 2.97% to 12.88%.

Fraction of Income towards Rent: Limestone County AL, Alabama, US

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

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

Date US Alabama Limestone County AL
2017 20.13% 18.70% 12.88%
2016 20.43% 19.27% 15.45%
2015 20.63% 19.54% 13.20%
2014 20.89% 20.09% 14.81%
2013 20.78% 19.44% 13.89%
2012 20.65% 19.89% 15.85%
2011 20.70% 19.91% 14.73%
2010 20.50% 19.78% 15.67%
2009 20.12% 19.47% 14.04%
2008 19.00% 17.75% 12.87%
2007 18.66% 17.78% 12.57%
2006 18.90% 17.73% 14.09%

Renter Fraction in Limestone County Alabama

You can calculate the renter fraction in Limestone County 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 Limestone County as a fraction of total Limestone County households. In 2017 20.86% of households were renters according to Census ACS data.

Limestone County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Alabama 31.95% +0.40% -0.37%
Limestone County AL 20.86% -6.89% -4.14%

Trends in the Limestone County AL Renter Fraction

The Limestone County household renter fraction peaked in in 2016 at 27.75% and is now 6.89% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Limestone County AL, Alabama, US

Fraction of renters in Limestone County

History of Limestone County Renter Fraction

Date US Alabama Limestone County AL
2017 36.13% 31.95% 20.86%
2016 36.88% 31.55% 27.75%
2015 36.97% 32.11% 20.19%
2014 36.90% 32.32% 25.00%
2013 36.50% 31.96% 23.52%
2012 36.09% 31.25% 24.93%
2011 35.42% 30.11% 23.81%
2010 34.65% 29.88% 19.93%
2009 34.13% 30.42% 21.04%
2008 33.36% 29.01% 19.40%
2007 32.80% 29.10% 23.06%
2006 32.73% 28.22% 25.87%

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.