Department of Numbers

Montgomery Alabama Residential Rent and Rental Statistics

The median monthly gross residential rent in Montgomery, AL (the Montgomery metro area) was $845 in 2017 according to the Census ACS survey.1 Average gross rent in Montgomery was $859 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 Montgomery median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Montgomery 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%
Montgomery, AL Median Gross Rent $845 -0.24% +0.96%

Montgomery, AL Real Gross Rent Trends

Median gross rent for Montgomery peaked in real terms in 2009 at $872 and is now $27 (3.10%) lower. At $859, real average gross rent in Montgomery was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Montgomery

Date US
Median
Alabama
Median
Montgomery, AL
Median
Montgomery, AL
Average
2017 $1,012 $750 $845 $859
2016 $996 $755 $847 $838
2015 $987 $750 $843 $834
2014 $956 $734 $837 $815
2013 $924 $709 $813 $786
2012 $912 $711 $810 $783
2011 $912 $720 $789 $770
2010 $927 $723 $846 $808
2009 $931 $726 $872 $835
2008 $947 $725 $839 $804
2007 $899 $685 $778 $727
2006 $909 $682 $799 $735

Montgomery 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 Montgomery Alabama was 8.79% according to Census ACS data.

Rental Vacancy Rate in Montgomery Alabama

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Alabama 10.99% +0.65% +0.62%
Montgomery, AL 8.79% +1.32% +1.16%

Trends in Montgomery, AL Rental Vacancy Rate

The rental vacancy rate in Montgomery peaked in 2008 at 12.28%. Since then it has fallen by 3.49% to 8.79%. Data records for this series originated in 2005. From a 2013 post peak low of 4.83%, the rental vacancy rate has increased by 3.96%.

Rental Vacancy Rate: Montgomery AL, Alabama, US

Rental vacancy rate in Alabama

Historical Rental Vacancy Rate data for Montgomery

Date US Alabama Montgomery, AL
2017 6.18% 10.99% 8.79%
2016 5.89% 10.34% 7.47%
2015 5.85% 9.72% 8.03%
2014 6.32% 10.37% 7.63%
2013 6.49% 9.17% 4.83%
2012 6.77% 7.79% 5.30%
2011 7.40% 8.30% 9.32%
2010 8.17% 9.64% 9.99%
2009 8.43% 10.33% 8.71%
2008 7.86% 9.73% 12.28%
2007 7.87% 9.25% 7.71%
2006 7.70% 8.72% 8.76%

Rent as a Fraction of Income

Using median household income data for Montgomery, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Montgomery, median monthly gross rent as a fraction of median household income was 20.64% in 2017 according to the ACS.

Montgomery 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%
Montgomery, AL 20.64% -0.53% -0.15%

Trends in Montgomery, AL Rent as a Fraction of Income

The fraction of median Montgomery household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 21.54%. Since then it has fallen by 0.89% to 20.64%.

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

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

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

Date US Alabama Montgomery, AL
2017 20.13% 18.70% 20.64%
2016 20.43% 19.27% 21.17%
2015 20.63% 19.54% 21.54%
2014 20.89% 20.09% 20.79%
2013 20.78% 19.44% 20.83%
2012 20.65% 19.89% 21.09%
2011 20.70% 19.91% 19.77%
2010 20.50% 19.78% 20.59%
2009 20.12% 19.47% 21.38%
2008 19.00% 17.75% 18.87%
2007 18.66% 17.78% 19.05%
2006 18.90% 17.73% 18.75%

Renter Fraction in Montgomery Alabama

You can calculate the renter fraction in Montgomery 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 Montgomery as a fraction of total Montgomery households. In 2017 36.42% of households were renters according to Census ACS data.

Montgomery 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%
Montgomery, AL 36.42% -0.56% +1.20%

Trends in the Montgomery, AL Renter Fraction

The Montgomery household renter fraction peaked in in 2016 at 36.98% and is now 0.56% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Montgomery AL, Alabama, US

Fraction of renters in Montgomery

History of Montgomery Renter Fraction

Date US Alabama Montgomery, AL
2017 36.13% 31.95% 36.42%
2016 36.88% 31.55% 36.98%
2015 36.97% 32.11% 36.90%
2014 36.90% 32.32% 35.22%
2013 36.50% 31.96% 35.94%
2012 36.09% 31.25% 34.45%
2011 35.42% 30.11% 31.94%
2010 34.65% 29.88% 33.35%
2009 34.13% 30.42% 31.90%
2008 33.36% 29.01% 30.65%
2007 32.80% 29.10% 31.73%
2006 32.73% 28.22% 30.92%

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.