Department of Numbers

Mclean County Illinois Residential Rent and Rental Statistics

The median monthly gross residential rent in Mclean County IL was $802 in 2017 according to the Census ACS survey.1 Average gross rent in Mclean County was $857 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 Mclean County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Mclean County Illinois (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Illinois Median Gross Rent $974 +0.93% +5.07%
Mclean County IL Median Gross Rent $802 -1.47% +3.22%

Mclean County IL Real Gross Rent Trends

Median gross rent for Mclean County peaked in real terms in 2015 at $853 and is now $51 (5.98%) lower. Average gross rent for Mclean County peaked in real terms in 2015 at $967 and is now $110 (11.38%) lower.

Real Gross Rent: Mclean County IL Median, Mclean County IL Average, Illinois Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Mclean County

Date US
Median
Illinois
Median
Mclean County IL
Median
Mclean County IL
Average
2017 $1,012 $974 $802 $857
2016 $996 $965 $814 $860
2015 $987 $963 $853 $967
2014 $956 $927 $777 $830
2013 $924 $904 $776 $814
2012 $912 $896 $794 $887
2011 $912 $900 $740 $728
2010 $927 $919 $761 $800
2009 $931 $915 $753 $808
2008 $947 $932 $764 $837
2007 $899 $892 $765 $794
2006 $909 $906 $768 $782

Mclean 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 Mclean County Illinois was 11.03% according to Census ACS data.

Rental Vacancy Rate in Mclean County Illinois

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Illinois 7.02% +1.01% +0.49%
Mclean County IL 11.03% +2.72% +4.78%

Trends in Mclean County IL Rental Vacancy Rate

The rental vacancy rate in Mclean County peaked in 2005 at 20.73%. Since then it has fallen by 9.70% to 11.03%. Data records for this series originated in 2005. From a 2009 post peak low of 4.16%, the rental vacancy rate has increased by 6.87%.

Rental Vacancy Rate: Mclean County IL, Illinois, US

Rental vacancy rate in Illinois

Historical Rental Vacancy Rate data for Mclean County

Date US Illinois Mclean County IL
2017 6.18% 7.02% 11.03%
2016 5.89% 6.01% 8.31%
2015 5.85% 6.21% 6.10%
2014 6.32% 6.53% 6.25%
2013 6.49% 6.16% 5.42%
2012 6.77% 6.39% 6.86%
2011 7.40% 7.35% 8.25%
2010 8.17% 7.66% 11.41%
2009 8.43% 7.84% 4.16%
2008 7.86% 6.87%
2007 7.87% 7.69% 10.05%
2006 7.70% 8.69% 10.53%

Rent as a Fraction of Income

Using median household income data for Mclean County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Mclean County, median monthly gross rent as a fraction of median household income was 14.10% in 2017 according to the ACS.

Mclean County Illinois Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Illinois 18.55% -0.15% -0.35%
Mclean County IL 14.10% -1.39% -1.59%

Trends in Mclean County IL Rent as a Fraction of Income

The fraction of median Mclean County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 15.69%. Since then it has fallen by 1.59% to 14.10%.

Fraction of Income towards Rent: Mclean County IL, Illinois, US

Percent of median household income going towards median monthly gross rent in Mclean County Illinois

Historical Data for Annual Rent as a Fraction of Income in Mclean County Illinois

Date US Illinois Mclean County IL
2017 20.13% 18.55% 14.10%
2016 20.43% 18.70% 15.48%
2015 20.63% 18.85% 15.23%
2014 20.89% 18.91% 15.69%
2013 20.78% 18.89% 14.75%
2012 20.65% 18.89% 14.88%
2011 20.70% 19.36% 14.66%
2010 20.50% 19.21% 14.14%
2009 20.12% 18.41% 14.59%
2008 19.00% 17.31% 13.73%
2007 18.66% 17.36% 14.89%
2006 18.90% 17.56% 15.17%

Renter Fraction in Mclean County Illinois

You can calculate the renter fraction in Mclean 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 Mclean County as a fraction of total Mclean County households. In 2017 34.66% of households were renters according to Census ACS data.

Mclean County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Illinois 33.82% -0.92% -0.69%
Mclean County IL 34.66% -0.43% -1.91%

Trends in the Mclean County IL Renter Fraction

The Mclean County household renter fraction peaked in in 2014 at 36.57% and is now 1.91% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Mclean County IL, Illinois, US

Fraction of renters in Mclean County

History of Mclean County Renter Fraction

Date US Illinois Mclean County IL
2017 36.13% 33.82% 34.66%
2016 36.88% 34.74% 35.09%
2015 36.97% 34.72% 35.50%
2014 36.90% 34.51% 36.57%
2013 36.50% 34.06% 32.42%
2012 36.09% 33.40% 34.12%
2011 35.42% 32.65% 33.65%
2010 34.65% 32.27% 31.42%
2009 34.13% 32.00% 33.74%
2008 33.36% 30.73% 31.92%
2007 32.80% 29.94% 31.94%
2006 32.73% 30.12% 32.86%

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.