Department of Numbers

Augusta Georgia Residential Rent and Rental Statistics

The median monthly gross residential rent in Augusta, GA (the Augusta-Richmond County metro area) was $824 in 2016 according to the Census ACS survey.1 Average gross rent in Augusta was $784 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 Augusta median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Augusta Georgia (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Georgia Median Gross Rent $933 +1.30% +9.12%
Augusta, GA Median Gross Rent $824 +2.23% +5.91%

Augusta, GA Real Gross Rent Trends

At $824, real median gross rent in Augusta was at its highest level in 2016 since the series began in 2005. Average gross rent for Augusta peaked in real terms in 2015 at $820 and is now $36 (4.39%) lower.

Real Gross Rent in Augusta: Augusta GA Median, Augusta GA Average, Georgia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Augusta

Date US
Median
Georgia
Median
Augusta, GA
Median
Augusta, GA
Average
2016 $981 $933 $824 $784
2015 $972 $921 $806 $820
2014 $942 $889 $760 $745
2013 $910 $855 $778 $764
2012 $898 $850 $764 $756
2011 $898 $859 $779 $742
2010 $912 $874 $751 $720
2009 $916 $871 $735 $721
2008 $932 $890 $724 $724
2007 $885 $862 $696 $669
2006 $895 $865 $736 $686
2005 $869 $846 $733 $689

Augusta Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Augusta Georgia was 6.93% according to Census ACS data.

Rental Vacancy Rate in Augusta Georgia

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Georgia 6.15% -0.32% -3.11%
Augusta, GA 6.93% +0.49% -4.37%

Trends in Augusta, GA Rental Vacancy Rate

The rental vacancy rate in Augusta peaked in 2013 at 11.30%. Since then it has fallen by 4.37% to 6.93%. Data records for this series originated in 2005. From a 2015 post peak low of 6.44%, the rental vacancy rate has increased by 0.49%.

Rental Vacancy Rate: Augusta GA, Georgia, US

Rental vacancy rate in Georgia

Historical Rental Vacancy Rate data for Augusta

Date US Georgia Augusta, GA
2016 5.89% 6.15% 6.93%
2015 5.85% 6.47% 6.44%
2014 6.32% 8.17% 9.57%
2013 6.49% 9.26% 11.30%
2012 6.77% 9.53% 8.24%
2011 7.40% 10.72% 7.68%
2010 8.17% 11.72% 8.83%
2009 8.43% 12.32% 7.33%
2008 7.86% 10.89% 9.05%
2007 7.87% 10.54% 8.57%
2006 7.70% 10.33% 10.28%
2005 7.74% 11.53% 8.50%

Rent as a Fraction of Income

Using median household income data for Augusta, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Augusta, median monthly gross rent as a fraction of median household income was 20.37% in 2016 according to the ACS.

Augusta Georgia Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Georgia 20.90% -0.38% -0.42%
Augusta, GA 20.37% +1.16% -0.65%

Trends in Augusta, GA Rent as a Fraction of Income

The fraction of median Augusta household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 21.02%. Since then it has fallen by 0.65% to 20.37%.

Fraction of Income towards Rent: Augusta GA, Georgia, US

Percent of median household income going towards median monthly gross rent in Augusta Georgia

Historical Data for Annual Rent as a Fraction of Income in Augusta Georgia

Date US Georgia Augusta, GA
2016 20.43% 20.90% 20.37%
2015 20.63% 21.29% 19.21%
2014 20.89% 21.46% 19.38%
2013 20.78% 21.33% 21.02%
2012 20.65% 21.28% 20.16%
2011 20.70% 21.73% 19.97%
2010 20.50% 21.17% 18.99%
2009 20.12% 20.17% 19.22%
2008 19.00% 18.57% 17.34%
2007 18.66% 18.76% 16.97%
2006 18.90% 18.91% 18.06%
2005 18.89% 18.66% 17.43%

Renter Fraction in Augusta Georgia

You can calculate the renter fraction in Augusta 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 Augusta as a fraction of total Augusta households. In 2016 34.24% of households were renters according to Census ACS data.

Augusta Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Georgia 38.46% +0.30% +1.12%
Augusta, GA 34.24% +0.88% +1.31%

Trends in the Augusta, GA Renter Fraction

At 34.24%, the 2016 household based renter fraction in Augusta was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Augusta GA, Georgia, US

Fraction of renters in Augusta

History of Augusta Renter Fraction

Date US Georgia Augusta, GA
2016 36.88% 38.46% 34.24%
2015 36.97% 38.16% 33.36%
2014 36.90% 37.77% 33.39%
2013 36.50% 37.34% 32.93%
2012 36.09% 36.35% 33.66%
2011 35.42% 35.42% 32.93%
2010 34.65% 33.83% 32.40%
2009 34.13% 32.96% 32.33%
2008 33.36% 32.55% 29.86%
2007 32.80% 31.46% 30.71%
2006 32.73% 32.33% 29.86%
2005 33.10% 33.19% 29.90%

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.