Henry County Georgia Residential Rent and Rental Statistics
The median monthly gross residential rent in Henry County GA was $1,196 in 2019 according to the Census ACS survey.1 Average gross rent in Henry County was $1,207 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 Henry County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Henry County Georgia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Georgia Median Gross Rent | $1,049 | +2.24% | +7.37% |
| Henry County GA Median Gross Rent | $1,196 | +3.01% | +1.61% |
Henry County GA Real Gross Rent Trends
At $1,196, real median gross rent in Henry County was at its highest level in 2019 since the series began in 2005. Average gross rent for Henry County peaked in real terms in 2005 at $1,238 and is now $31 (2.50%) lower. From a recent low of 1030.0 in 2007, real average gross rent has now increased by $177 (17.18%).
Real Gross Rent: Henry County GA Median, Henry County GA Average, Georgia Median, US Median
Real Gross Rent History for Henry County
| Date | US Median |
Georgia Median |
Henry County GA Median |
Henry County GA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,049 | $1,196 | $1,207 |
| 2018 | $1,077 | $1,026 | $1,161 | $1,143 |
| 2017 | $1,043 | $988 | $1,175 | $1,160 |
| 2016 | $1,027 | $977 | $1,177 | $1,172 |
| 2015 | $1,017 | $964 | $1,119 | $1,095 |
| 2014 | $986 | $931 | $1,141 | $1,149 |
| 2013 | $953 | $895 | $1,038 | $1,079 |
| 2012 | $940 | $890 | $1,068 | $1,088 |
| 2011 | $941 | $900 | $1,143 | $1,145 |
| 2010 | $955 | $915 | $1,142 | $1,158 |
| 2009 | $960 | $912 | $1,141 | $1,141 |
| 2007 | $927 | $902 | $1,073 | $1,030 |
| 2005 | $910 | $886 | $1,193 | $1,238 |
Henry County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Henry County Georgia was 8.77% according to Census ACS data.
Rental Vacancy Rate in Henry County Georgia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Georgia | 7.28% | +0.05% | +1.13% |
| Henry County GA | — | — | — |
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 4.27% to 8.77%. Data records for this series originated in 2005. From a 2017 post peak low of 4.41%, the rental vacancy rate has increased by 4.36%.
Rental Vacancy Rate: Henry County GA, Georgia, US
Historical Rental Vacancy Rate data for Henry County
| Date | US | Georgia | Henry County GA |
|---|---|---|---|
| 2019 | 5.97% | 7.28% | — |
| 2018 | 6.15% | 7.23% | 8.77% |
| 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% |
| 2007 | 7.87% | 10.54% | 8.45% |
| 2005 | 7.74% | 11.53% | 11.57% |
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 19.95% in 2019 according to the ACS.
Henry County Georgia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Georgia | 20.31% | -0.28% | -0.59% |
| Henry County GA | 19.95% | +1.35% | -0.21% |
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 2.32% to 19.95%.
Fraction of Income towards Rent: Henry County GA, Georgia, US
Historical Data for Annual Rent as a Fraction of Income in Henry County Georgia
| Date | US | Georgia | Henry County GA |
|---|---|---|---|
| 2019 | 20.03% | 20.31% | 19.95% |
| 2018 | 20.50% | 20.59% | 18.60% |
| 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% |
| 2007 | 18.66% | 18.76% | 17.42% |
| 2005 | 18.89% | 18.66% | 19.42% |
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 2019 33.68% of households were renters according to Census ACS data.
Henry County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Georgia | 35.87% | -0.33% | -2.59% |
| Henry County GA | 33.68% | +6.75% | +2.46% |
Trends in the Henry County GA Renter Fraction
At 33.68%, the 2019 household based renter fraction in Henry County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Henry County GA, Georgia, US
History of Henry County Renter Fraction
| Date | US | Georgia | Henry County GA |
|---|---|---|---|
| 2019 | 35.89% | 35.87% | 33.68% |
| 2018 | 36.05% | 36.20% | 26.93% |
| 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% |
| 2007 | 32.80% | 31.46% | 19.04% |
| 2005 | 33.10% | 33.19% | 18.42% |
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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