Faulkner County Arkansas Residential Rent and Rental Statistics
The median monthly gross residential rent in Faulkner County AR was $770 in 2017 according to the Census ACS survey.1 Average gross rent in Faulkner County was $783 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 Faulkner County median and average rent data will be released in September of 2019.
Data is also available below for Faulkner County rental vacancy rates, Faulkner County rent as a percent of median income and the fraction of renters in Faulkner County.
Real Gross Rent in Faulkner County Arkansas (2017 dollars)2
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,012 | +1.61% | +5.86% |
| Arkansas Median Gross Rent | $711 | -0.14% | +1.72% |
| Faulkner County AR Median Gross Rent | $770 | -5.98% | +2.39% |
Faulkner County AR Real Gross Rent Trends
Median gross rent for Faulkner County peaked in real terms in 2016 at $819 and is now $49 (5.98%) lower. Average gross rent for Faulkner County peaked in real terms in 2015 at $809 and is now $26 (3.21%) lower.
Real Gross Rent: Faulkner County AR Median, Faulkner County AR Average, Arkansas Median, US Median
Real Gross Rent History for Faulkner County
| Date | US Median |
Arkansas Median |
Faulkner County AR Median |
Faulkner County AR Average |
|---|---|---|---|---|
| 2017 | $1,012 | $711 | $770 | $783 |
| 2016 | $996 | $712 | $819 | $771 |
| 2015 | $987 | $715 | $794 | $809 |
| 2014 | $956 | $699 | $752 | $747 |
| 2013 | $924 | $673 | $715 | $779 |
| 2012 | $912 | $660 | $709 | $710 |
| 2011 | $912 | $669 | $713 | $760 |
| 2010 | $927 | $691 | $733 | $759 |
| 2009 | $931 | $670 | $767 | $762 |
| 2008 | $947 | $696 | $762 | $766 |
| 2007 | $899 | $653 | $687 | $662 |
| 2006 | $909 | $674 | $724 | $707 |
Faulkner County 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 Faulkner County Arkansas was 9.61% according to Census ACS data.
Rental Vacancy Rate in Faulkner County Arkansas
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 6.18% | +0.29% | -0.14% |
| Arkansas | 8.22% | +0.16% | -1.38% |
| Faulkner County AR | — | — | — |
Trends in Faulkner County AR Rental Vacancy Rate
The rental vacancy rate in Faulkner County peaked in 2013 at 17.15%. Since then it has fallen by 7.54% to 9.61%. Data records for this series originated in 2005.
Rental Vacancy Rate: Faulkner County AR, Arkansas, US
Historical Rental Vacancy Rate data for Faulkner County
| Date | US | Arkansas | Faulkner County AR |
|---|---|---|---|
| 2017 | 6.18% | 8.22% | — |
| 2016 | 5.89% | 8.06% | — |
| 2015 | 5.85% | 8.50% | — |
| 2014 | 6.32% | 9.60% | 9.61% |
| 2013 | 6.49% | 9.66% | 17.15% |
| 2012 | 6.77% | 9.13% | — |
| 2011 | 7.40% | 10.00% | 11.01% |
| 2010 | 8.17% | 10.46% | 8.39% |
| 2009 | 8.43% | 10.48% | 12.65% |
| 2008 | 7.86% | 9.53% | — |
| 2007 | 7.87% | 8.73% | — |
| 2006 | 7.70% | 8.03% | 4.04% |
Rent as a Fraction of Income
Using median household income data for Faulkner County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Faulkner County, median monthly gross rent as a fraction of median household income was 19.26% in 2017 according to the ACS.
Faulkner County Arkansas Median Annual Rent as a Fraction of Median Household Income
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.13% | -0.30% | -0.76% |
| Arkansas | 18.60% | -0.37% | -1.26% |
| Faulkner County AR | 19.26% | -0.68% | +2.21% |
Trends in Faulkner County AR Rent as a Fraction of Income
The fraction of median Faulkner County household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 19.94%. Since then it has fallen by 0.68% to 19.26%.
Fraction of Income towards Rent: Faulkner County AR, Arkansas, US
Historical Data for Annual Rent as a Fraction of Income in Faulkner County Arkansas
| Date | US | Arkansas | Faulkner County AR |
|---|---|---|---|
| 2017 | 20.13% | 18.60% | 19.26% |
| 2016 | 20.43% | 18.97% | 19.94% |
| 2015 | 20.63% | 19.86% | 18.31% |
| 2014 | 20.89% | 19.86% | 17.05% |
| 2013 | 20.78% | 19.52% | 17.09% |
| 2012 | 20.65% | 19.15% | 16.57% |
| 2011 | 20.70% | 19.78% | 16.38% |
| 2010 | 20.50% | 19.99% | 18.85% |
| 2009 | 20.12% | 19.23% | 16.99% |
| 2008 | 19.00% | 18.74% | 19.32% |
| 2007 | 18.66% | 18.03% | 16.34% |
| 2006 | 18.90% | 18.56% | 17.48% |
Renter Fraction in Faulkner County Arkansas
You can calculate the renter fraction in Faulkner 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 Faulkner County as a fraction of total Faulkner County households. In 2017 38.52% of households were renters according to Census ACS data.
Faulkner County Fraction of Renters by Household Units
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 36.13% | -0.75% | -0.77% |
| Arkansas | 34.75% | -0.70% | +0.54% |
| Faulkner County AR | 38.52% | -0.75% | +1.12% |
Trends in the Faulkner County AR Renter Fraction
The Faulkner County household renter fraction peaked in in 2016 at 39.27% and is now 0.75% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Faulkner County AR, Arkansas, US
History of Faulkner County Renter Fraction
| Date | US | Arkansas | Faulkner County AR |
|---|---|---|---|
| 2017 | 36.13% | 34.75% | 38.52% |
| 2016 | 36.88% | 35.45% | 39.27% |
| 2015 | 36.97% | 34.83% | 36.82% |
| 2014 | 36.90% | 34.21% | 37.40% |
| 2013 | 36.50% | 34.28% | 33.74% |
| 2012 | 36.09% | 33.76% | 38.60% |
| 2011 | 35.42% | 33.40% | 36.13% |
| 2010 | 34.65% | 32.59% | 36.05% |
| 2009 | 34.13% | 33.96% | 31.75% |
| 2008 | 33.36% | 32.62% | 36.34% |
| 2007 | 32.80% | 32.27% | 33.27% |
| 2006 | 32.73% | 31.72% | 31.83% |
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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