Department of Numbers

Gainesville Georgia Residential Rent and Rental Statistics

The median monthly gross residential rent in Gainesville, GA (the Gainesville metro area) was $880 in 2016 according to the Census ACS survey.1 Average gross rent in Gainesville was $896 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 Gainesville median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Gainesville 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%
Gainesville, GA Median Gross Rent $880 -3.61% +5.26%

Gainesville, GA Real Gross Rent Trends

Median gross rent for Gainesville peaked in real terms in 2008 at $913 and is now $33 (3.61%) lower. From a recent low of 824.0 in 2012, real median gross rent has now increased by $56 (6.80%). Average gross rent for Gainesville peaked in real terms in 2015 at $923 and is now $27 (2.93%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Gainesville

Date US
Median
Georgia
Median
Gainesville, GA
Median
Gainesville, GA
Average
2016 $981 $933 $880 $896
2015 $972 $921 $913 $923
2014 $942 $889 $853 $873
2013 $910 $855 $836 $805
2012 $898 $850 $824 $873
2011 $898 $859 $825 $849
2010 $912 $874 $860 $862
2009 $916 $871 $846 $774
2008 $932 $890 $913 $905
2007 $885 $862 $902 $863
2006 $895 $865 $867 $807
2005 $869 $846 $898 $880

Gainesville 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 Gainesville Georgia was 4.11% according to Census ACS data.

Rental Vacancy Rate in Gainesville Georgia

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Georgia 6.15% -0.32% -3.11%
Gainesville, GA 4.11% +0.64% -0.72%

Trends in Gainesville, GA Rental Vacancy Rate

The rental vacancy rate in Gainesville peaked in 2011 at 15.30%. Since then it has fallen by 11.19% to 4.11%. Data records for this series originated in 2005. From a 2015 post peak low of 3.47%, the rental vacancy rate has increased by 0.64%.

Rental Vacancy Rate: Gainesville GA, Georgia, US

Rental vacancy rate in Georgia

Historical Rental Vacancy Rate data for Gainesville

Date US Georgia Gainesville, GA
2016 5.89% 6.15% 4.11%
2015 5.85% 6.47% 3.47%
2014 6.32% 8.17% 5.48%
2013 6.49% 9.26% 4.83%
2012 6.77% 9.53% 10.86%
2011 7.40% 10.72% 15.30%
2010 8.17% 11.72% 7.63%
2009 8.43% 12.32% 4.21%
2008 7.86% 10.89% 10.33%
2007 7.87% 10.54% 3.49%
2006 7.70% 10.33% 8.01%
2005 7.74% 11.53% 11.22%

Rent as a Fraction of Income

Using median household income data for Gainesville, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Gainesville, median monthly gross rent as a fraction of median household income was 19.23% in 2016 according to the ACS.

Gainesville 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%
Gainesville, GA 19.23% -0.43% -2.93%

Trends in Gainesville, GA Rent as a Fraction of Income

The fraction of median Gainesville household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 22.16%. Since then it has fallen by 2.93% to 19.23%.

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

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

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

Date US Georgia Gainesville, GA
2016 20.43% 20.90% 19.23%
2015 20.63% 21.29% 19.65%
2014 20.89% 21.46% 19.33%
2013 20.78% 21.33% 22.16%
2012 20.65% 21.28% 19.57%
2011 20.70% 21.73% 19.16%
2010 20.50% 21.17% 20.58%
2009 20.12% 20.17% 19.02%
2008 19.00% 18.57% 18.33%
2007 18.66% 18.76% 18.63%
2006 18.90% 18.91% 19.85%
2005 18.89% 18.66% 18.67%

Renter Fraction in Gainesville Georgia

You can calculate the renter fraction in Gainesville 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 Gainesville as a fraction of total Gainesville households. In 2016 34.57% of households were renters according to Census ACS data.

Gainesville 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%
Gainesville, GA 34.57% -0.92% -2.63%

Trends in the Gainesville, GA Renter Fraction

The Gainesville household renter fraction peaked in in 2013 at 37.20% and is now 2.63% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Gainesville GA, Georgia, US

Fraction of renters in Gainesville

History of Gainesville Renter Fraction

Date US Georgia Gainesville, GA
2016 36.88% 38.46% 34.57%
2015 36.97% 38.16% 35.49%
2014 36.90% 37.77% 32.04%
2013 36.50% 37.34% 37.20%
2012 36.09% 36.35% 34.00%
2011 35.42% 35.42% 29.44%
2010 34.65% 33.83% 33.91%
2009 34.13% 32.96% 29.97%
2008 33.36% 32.55% 31.15%
2007 32.80% 31.46% 28.58%
2006 32.73% 32.33% 29.40%
2005 33.10% 33.19% 27.99%

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.