Department of Numbers

Bannock County Idaho Residential Rent and Rental Statistics

The median monthly gross residential rent in Bannock County ID was $678 in 2017 according to the Census ACS survey.1 Average gross rent in Bannock County was $674 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 Bannock County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Bannock County Idaho (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Idaho Median Gross Rent $822 +2.49% +6.34%
Bannock County ID Median Gross Rent $678 +5.28% +3.67%

Bannock County ID Real Gross Rent Trends

Median gross rent for Bannock County peaked in real terms in 2005 at $743 and is now $65 (8.75%) lower. From a recent low of 588.0 in 2007, real median gross rent has now increased by $90 (15.31%). Average gross rent for Bannock County peaked in real terms in 2005 at $698 and is now $24 (3.44%) lower. From a recent low of 601.0 in 2010, real average gross rent has now increased by $73 (12.15%).

Real Gross Rent: Bannock County ID Median, Bannock County ID Average, Idaho Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bannock County

Date US
Median
Idaho
Median
Bannock County ID
Median
Bannock County ID
Average
2017 $1,012 $822 $678 $674
2016 $996 $802 $644 $615
2015 $987 $792 $674 $680
2014 $956 $773 $654 $676
2013 $924 $740 $604 $643
2012 $912 $724 $595 $638
2011 $912 $722 $611 $645
2010 $927 $740 $626 $601
2009 $931 $767 $604 $646
2008 $947 $793 $698 $694
2007 $899 $745 $588 $651
2006 $909 $742 $654 $676

Bannock 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 Bannock County Idaho was 7.23% according to Census ACS data.

Rental Vacancy Rate in Bannock County Idaho

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Idaho 6.21% +0.84% +0.98%
Bannock County ID 7.23% -3.50% +1.67%

Trends in Bannock County ID Rental Vacancy Rate

The rental vacancy rate in Bannock County peaked in 2016 at 10.73%. Since then it has fallen by 3.50% to 7.23%. Data records for this series originated in 2005.

Rental Vacancy Rate: Bannock County ID, Idaho, US

Rental vacancy rate in Idaho

Historical Rental Vacancy Rate data for Bannock County

Date US Idaho Bannock County ID
2017 6.18% 6.21% 7.23%
2016 5.89% 5.37% 10.73%
2015 5.85% 4.97% 6.92%
2014 6.32% 5.23% 5.56%
2013 6.49% 5.05% 4.72%
2012 6.77% 6.45%
2011 7.40% 5.53%
2010 8.17% 7.93%
2009 8.43% 8.58%
2008 7.86% 7.56% 9.40%
2007 7.87% 6.21%
2006 7.70% 5.25%

Rent as a Fraction of Income

Using median household income data for Bannock County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bannock County, median monthly gross rent as a fraction of median household income was 15.76% in 2017 according to the ACS.

Bannock County Idaho Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Idaho 18.89% +0.59% -0.04%
Bannock County ID 15.76% +0.05% -1.66%

Trends in Bannock County ID Rent as a Fraction of Income

The fraction of median Bannock County household income required to pay median monthly gross rent peaked in 2005 (relative to the 2005 series origin) at 20.23%. Since then it has fallen by 4.47% to 15.76%. From a 2007 low of 13.95%, the fraction of income going to rent has increased by 1.81%.

Fraction of Income towards Rent: Bannock County ID, Idaho, US

Percent of median household income going towards median monthly gross rent in Bannock County Idaho

Historical Data for Annual Rent as a Fraction of Income in Bannock County Idaho

Date US Idaho Bannock County ID
2017 20.13% 18.89% 15.76%
2016 20.43% 18.30% 15.71%
2015 20.63% 19.14% 18.93%
2014 20.89% 18.93% 17.42%
2013 20.78% 18.60% 16.82%
2012 20.65% 18.52% 16.17%
2011 20.70% 19.08% 17.02%
2010 20.50% 18.85% 18.06%
2009 20.12% 18.54% 14.28%
2008 19.00% 17.40% 14.95%
2007 18.66% 16.97% 13.95%
2006 18.90% 17.44% 16.56%

Renter Fraction in Bannock County Idaho

You can calculate the renter fraction in Bannock 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 Bannock County as a fraction of total Bannock County households. In 2017 32.59% of households were renters according to Census ACS data.

Bannock County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Idaho 30.34% -1.20% -1.64%
Bannock County ID 32.59% +3.68% +3.23%

Trends in the Bannock County ID Renter Fraction

The Bannock County household renter fraction peaked in in 2015 at 37.54% and is now 4.95% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bannock County ID, Idaho, US

Fraction of renters in Bannock County

History of Bannock County Renter Fraction

Date US Idaho Bannock County ID
2017 36.13% 30.34% 32.59%
2016 36.88% 31.54% 28.91%
2015 36.97% 31.04% 37.54%
2014 36.90% 31.98% 29.36%
2013 36.50% 30.64% 34.09%
2012 36.09% 31.63% 32.78%
2011 35.42% 31.26% 35.06%
2010 34.65% 30.38% 30.22%
2009 34.13% 28.47% 26.60%
2008 33.36% 29.14% 28.58%
2007 32.80% 27.95% 28.48%
2006 32.73% 28.73% 29.31%

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.