Hanford California Residential Rent and Rental Statistics
The median monthly gross residential rent in Hanford, CA (the Hanford-Corcoran metro area) was $969 in 2019 according to the Census ACS survey.1 Average gross rent in Hanford was $949 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Hanford median and average rent data will be released in September of 2021.
Data is also available below for Hanford rental vacancy rates, Hanford rent as a percent of median income and the fraction of renters in Hanford.
Real Gross Rent in Hanford California (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| California Median Gross Rent | $1,614 | +4.33% | +12.08% |
| Hanford, CA Median Gross Rent | $969 | -12.15% | -3.10% |
Hanford, CA Real Gross Rent Trends
Median gross rent for Hanford peaked in real terms in 2018 at $1,103 and is now $134 (12.15%) lower. Average gross rent for Hanford peaked in real terms in 2018 at $1,020 and is now $71 (6.96%) lower.
Real Gross Rent in Hanford: Hanford CA Median, Hanford CA Average, California Median, US Median
Real Gross Rent History for Hanford
| Date | US Median |
California Median |
Hanford, CA Median |
Hanford, CA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,614 | $969 | $949 |
| 2018 | $1,077 | $1,547 | $1,103 | $1,020 |
| 2017 | $1,043 | $1,492 | $903 | $935 |
| 2016 | $1,027 | $1,440 | $1,000 | $962 |
| 2015 | $1,017 | $1,391 | $946 | $954 |
| 2014 | $986 | $1,339 | $903 | $923 |
| 2013 | $953 | $1,289 | $869 | $904 |
| 2012 | $940 | $1,277 | $846 | $916 |
| 2011 | $941 | $1,268 | $989 | $949 |
| 2010 | $955 | $1,300 | $921 | $898 |
| 2009 | $960 | $1,316 | $971 | $923 |
| 2007 | $927 | $1,266 | $841 | $801 |
| 2005 | $910 | $1,216 | $859 | $791 |
Historical Rental Vacancy Rate data for Hanford
| Date | US | California | Hanford, CA |
|---|---|---|---|
| 2019 | 5.97% | 4.06% | — |
| 2018 | 6.15% | 3.97% | — |
| 2017 | 6.18% | 3.49% | — |
| 2016 | 5.89% | 3.31% | — |
| 2015 | 5.85% | 3.33% | — |
| 2014 | 6.32% | 3.90% | — |
| 2013 | 6.49% | 4.22% | — |
| 2012 | 6.77% | 4.51% | — |
| 2011 | 7.40% | 4.94% | — |
| 2010 | 8.17% | 5.86% | — |
| 2009 | 8.43% | 5.76% | 4.60% |
| 2007 | 7.87% | 4.72% | — |
| 2005 | 7.74% | 4.61% | — |
Rent as a Fraction of Income
Using median household income data for Hanford, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hanford, median monthly gross rent as a fraction of median household income was 19.89% in 2019 according to the ACS.
Hanford California Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| California | 24.08% | -0.15% | -0.28% |
| Hanford, CA | 19.89% | -1.18% | -1.63% |
Trends in Hanford, CA Rent as a Fraction of Income
The fraction of median Hanford household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 23.98%. Since then it has fallen by 4.09% to 19.89%. From a 2017 low of 18.26%, the fraction of income going to rent has increased by 1.63%.
Fraction of Income towards Rent: Hanford CA, California, US
Historical Data for Annual Rent as a Fraction of Income in Hanford California
| Date | US | California | Hanford, CA |
|---|---|---|---|
| 2019 | 20.03% | 24.08% | 19.89% |
| 2018 | 20.50% | 24.23% | 21.08% |
| 2017 | 20.13% | 24.18% | 18.26% |
| 2016 | 20.43% | 24.36% | 21.53% |
| 2015 | 20.63% | 24.39% | 23.40% |
| 2014 | 20.89% | 24.57% | 23.98% |
| 2013 | 20.78% | 24.40% | 21.63% |
| 2012 | 20.65% | 24.69% | 20.77% |
| 2011 | 20.70% | 24.59% | 21.83% |
| 2010 | 20.50% | 24.18% | 22.17% |
| 2009 | 20.12% | 23.52% | 22.97% |
| 2007 | 18.66% | 21.58% | 18.38% |
| 2005 | 18.89% | 21.77% | 20.06% |
Renter Fraction in Hanford California
You can calculate the renter fraction in Hanford 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 Hanford as a fraction of total Hanford households. In 2019 46.69% of households were renters according to Census ACS data.
Hanford Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| California | 45.14% | -0.04% | -1.22% |
| Hanford, CA | 46.69% | +0.56% | -4.66% |
Trends in the Hanford, CA Renter Fraction
The Hanford household renter fraction peaked in in 2015 at 51.81% and is now 5.12% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Hanford CA, California, US
History of Hanford Renter Fraction
| Date | US | California | Hanford, CA |
|---|---|---|---|
| 2019 | 35.89% | 45.14% | 46.69% |
| 2018 | 36.05% | 45.18% | 46.13% |
| 2017 | 36.13% | 45.21% | 44.67% |
| 2016 | 36.88% | 46.36% | 51.35% |
| 2015 | 36.97% | 46.41% | 51.81% |
| 2014 | 36.90% | 46.27% | 48.59% |
| 2013 | 36.50% | 46.21% | 49.56% |
| 2012 | 36.09% | 45.97% | 51.02% |
| 2011 | 35.42% | 45.12% | 44.06% |
| 2010 | 34.65% | 44.36% | 48.67% |
| 2009 | 34.13% | 43.43% | 49.36% |
| 2007 | 32.80% | 42.00% | 39.68% |
| 2005 | 33.10% | 41.56% | 44.29% |
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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