Department of Numbers

Henry County Georgia Residential Rent and Rental Statistics

The median monthly gross residential rent in Henry County GA was $1,140 in 2017 according to the Census ACS survey.1 Average gross rent in Henry County was $1,125 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 Henry County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Henry County Georgia (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Georgia Median Gross Rent $958 +1.05% +6.09%
Henry County GA Median Gross Rent $1,140 -0.09% +2.98%

Henry County GA Real Gross Rent Trends

Median gross rent for Henry County peaked in real terms in 2005 at $1,157 and is now $17 (1.47%) lower. From a recent low of 1007.0 in 2013, real median gross rent has now increased by $133 (13.21%). Average gross rent for Henry County peaked in real terms in 2005 at $1,200 and is now $75 (6.25%) lower. From a recent low of 999.0 in 2007, real average gross rent has now increased by $126 (12.61%).

Real Gross Rent: Henry County GA Median, Henry County GA Average, Georgia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Henry County

Date US
Median
Georgia
Median
Henry County GA
Median
Henry County GA
Average
2017 $1,012 $958 $1,140 $1,125
2016 $996 $948 $1,141 $1,136
2015 $987 $935 $1,085 $1,062
2014 $956 $903 $1,107 $1,114
2013 $924 $868 $1,007 $1,047
2012 $912 $864 $1,036 $1,055
2011 $912 $873 $1,108 $1,110
2010 $927 $888 $1,108 $1,123
2009 $931 $884 $1,106 $1,106
2008 $947 $904 $1,146 $1,173
2007 $899 $875 $1,040 $999
2006 $909 $879 $1,097 $1,074

Henry County 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 Henry County Georgia was 4.41% according to Census ACS data.

Rental Vacancy Rate in Henry County Georgia

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Georgia 6.73% +0.58% -1.44%
Henry County GA 4.41% -5.54%

Trends in Henry County GA Rental Vacancy Rate

The rental vacancy rate in Henry County peaked in 2006 at 13.04%. Since then it has fallen by 8.63% to 4.41%. Data records for this series originated in 2005.

Rental Vacancy Rate: Henry County GA, Georgia, US

Rental vacancy rate in Georgia

Historical Rental Vacancy Rate data for Henry County

Date US Georgia Henry County GA
2017 6.18% 6.73% 4.41%
2016 5.89% 6.15%
2015 5.85% 6.47% 6.22%
2014 6.32% 8.17% 9.95%
2013 6.49% 9.26% 9.31%
2012 6.77% 9.53% 12.13%
2011 7.40% 10.72%
2010 8.17% 11.72% 7.45%
2009 8.43% 12.32% 12.99%
2008 7.86% 10.89% 9.06%
2007 7.87% 10.54% 8.45%
2006 7.70% 10.33% 13.04%

Rent as a Fraction of Income

Using median household income data for Henry County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Henry County, median monthly gross rent as a fraction of median household income was 20.41% in 2017 according to the ACS.

Henry County Georgia Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Georgia 20.46% -0.44% -1.00%
Henry County GA 20.41% +0.25% -1.86%

Trends in Henry County GA Rent as a Fraction of Income

The fraction of median Henry County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 22.27%. Since then it has fallen by 1.86% to 20.41%.

Fraction of Income towards Rent: Henry County GA, Georgia, US

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

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

Date US Georgia Henry County GA
2017 20.13% 20.46% 20.41%
2016 20.43% 20.90% 20.16%
2015 20.63% 21.29% 19.37%
2014 20.89% 21.46% 22.27%
2013 20.78% 21.33% 20.02%
2012 20.65% 21.28% 21.63%
2011 20.70% 21.73% 22.17%
2010 20.50% 21.17% 21.39%
2009 20.12% 20.17% 18.87%
2008 19.00% 18.57% 19.21%
2007 18.66% 18.76% 17.42%
2006 18.90% 18.91% 18.25%

Renter Fraction in Henry County Georgia

You can calculate the renter fraction in Henry 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 Henry County as a fraction of total Henry County households. In 2017 31.18% of households were renters according to Census ACS data.

Henry County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Georgia 37.12% -1.34% -0.65%
Henry County GA 31.18% -0.04% +2.76%

Trends in the Henry County GA Renter Fraction

The Henry County household renter fraction peaked in in 2016 at 31.22% and is now 0.04% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Henry County GA, Georgia, US

Fraction of renters in Henry County

History of Henry County Renter Fraction

Date US Georgia Henry County GA
2017 36.13% 37.12% 31.18%
2016 36.88% 38.46% 31.22%
2015 36.97% 38.16% 27.61%
2014 36.90% 37.77% 28.42%
2013 36.50% 37.34% 25.18%
2012 36.09% 36.35% 28.19%
2011 35.42% 35.42% 27.40%
2010 34.65% 33.83% 23.92%
2009 34.13% 32.96% 20.33%
2008 33.36% 32.55% 23.60%
2007 32.80% 31.46% 19.04%
2006 32.73% 32.33% 19.10%

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.