Department of Numbers

Floyd County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Floyd County IN was $767 in 2017 according to the Census ACS survey.1 Average gross rent in Floyd County was $721 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 Floyd County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Floyd County Indiana (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Indiana Median Gross Rent $793 +1.67% +2.85%
Floyd County IN Median Gross Rent $767 -2.17% -5.19%

Floyd County IN Real Gross Rent Trends

Median gross rent for Floyd County peaked in real terms in 2014 at $809 and is now $42 (5.19%) lower. Average gross rent for Floyd County peaked in real terms in 2014 at $734 and is now $13 (1.77%) lower.

Real Gross Rent: Floyd County IN Median, Floyd County IN Average, Indiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Floyd County

Date US
Median
Indiana
Median
Floyd County IN
Median
Floyd County IN
Average
2017 $1,012 $793 $767 $721
2016 $996 $780 $784 $687
2015 $987 $780 $720 $661
2014 $956 $771 $809 $734
2013 $924 $746 $715 $668
2012 $912 $738 $706 $685
2011 $912 $741 $729 $678
2010 $927 $740 $730 $643
2009 $931 $759 $753 $700
2008 $947 $770 $739 $682
2007 $899 $727 $752 $613
2006 $909 $760 $773 $666

Floyd 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 Floyd County Indiana was 7.89% according to Census ACS data.

Rental Vacancy Rate in Floyd County Indiana

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Indiana 7.14% +0.18% -0.95%
Floyd County IN 7.89% +2.75%

Trends in Floyd County IN Rental Vacancy Rate

At 7.89%, Floyd County residential rental vacancy rate in 2017 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Floyd County IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Floyd County

Date US Indiana Floyd County IN
2017 6.18% 7.14% 7.89%
2016 5.89% 6.96% 5.14%
2015 5.85% 7.94%
2014 6.32% 8.09%
2013 6.49% 7.00%
2012 6.77% 8.43%
2011 7.40% 8.47%
2010 8.17% 8.78%
2009 8.43% 10.44%
2008 7.86% 9.02%
2007 7.87% 9.72%
2006 7.70% 11.17%

Rent as a Fraction of Income

Using median household income data for Floyd County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Floyd County, median monthly gross rent as a fraction of median household income was 15.17% in 2017 according to the ACS.

Floyd County Indiana Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Indiana 17.56% -0.05% -0.71%
Floyd County IN 15.17% -0.65% -2.78%

Trends in Floyd County IN Rent as a Fraction of Income

The fraction of median Floyd County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 17.95%. Since then it has fallen by 2.78% to 15.17%. From a 2015 low of 14.46%, the fraction of income going to rent has increased by 0.71%.

Fraction of Income towards Rent: Floyd County IN, Indiana, US

Percent of median household income going towards median monthly gross rent in Floyd County Indiana

Historical Data for Annual Rent as a Fraction of Income in Floyd County Indiana

Date US Indiana Floyd County IN
2017 20.13% 17.56% 15.17%
2016 20.43% 17.62% 15.81%
2015 20.63% 18.00% 14.46%
2014 20.89% 18.27% 17.95%
2013 20.78% 18.43% 14.63%
2012 20.65% 18.27% 15.20%
2011 20.70% 18.27% 16.40%
2010 20.50% 18.37% 16.92%
2009 20.12% 18.15% 15.68%
2008 19.00% 16.76% 15.65%
2007 18.66% 16.14% 14.82%
2006 18.90% 16.87% 15.21%

Renter Fraction in Floyd County Indiana

You can calculate the renter fraction in Floyd 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 Floyd County as a fraction of total Floyd County households. In 2017 27.14% of households were renters according to Census ACS data.

Floyd County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Indiana 30.96% -0.69% -0.46%
Floyd County IN 27.14% -4.57% -1.73%

Trends in the Floyd County IN Renter Fraction

The Floyd County household renter fraction peaked in in 2016 at 31.71% and is now 4.57% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Floyd County IN, Indiana, US

Fraction of renters in Floyd County

History of Floyd County Renter Fraction

Date US Indiana Floyd County IN
2017 36.13% 30.96% 27.14%
2016 36.88% 31.65% 31.71%
2015 36.97% 31.82% 27.58%
2014 36.90% 31.42% 28.87%
2013 36.50% 31.48% 26.64%
2012 36.09% 30.62% 27.26%
2011 35.42% 30.28% 28.48%
2010 34.65% 29.71% 29.38%
2009 34.13% 29.57% 26.03%
2008 33.36% 28.17% 28.90%
2007 32.80% 28.37% 26.41%
2006 32.73% 27.88% 23.58%

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.