Department of Numbers

Hamilton County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Hamilton County IN was $1,091 in 2017 according to the Census ACS survey.1 Average gross rent in Hamilton County was $1,127 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 Hamilton County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Hamilton 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%
Hamilton County IN Median Gross Rent $1,091 -4.80% +0.18%

Hamilton County IN Real Gross Rent Trends

Median gross rent for Hamilton County peaked in real terms in 2016 at $1,146 and is now $55 (4.80%) lower. Average gross rent for Hamilton County peaked in real terms in 2016 at $1,147 and is now $20 (1.74%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Hamilton County

Date US
Median
Indiana
Median
Hamilton County IN
Median
Hamilton County IN
Average
2017 $1,012 $793 $1,091 $1,127
2016 $996 $780 $1,146 $1,147
2015 $987 $780 $1,102 $1,146
2014 $956 $771 $1,089 $1,120
2013 $924 $746 $1,023 $1,073
2012 $912 $738 $965 $1,008
2011 $912 $741 $903 $996
2010 $927 $740 $943 $991
2009 $931 $759 $1,030 $1,100
2008 $947 $770 $1,032 $1,075
2007 $899 $727 $983 $961
2006 $909 $760 $1,004 $968

Hamilton 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 Hamilton County Indiana was 7.36% according to Census ACS data.

Rental Vacancy Rate in Hamilton County Indiana

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Indiana 7.14% +0.18% -0.95%
Hamilton County IN 7.36% -0.22% -0.23%

Trends in Hamilton County IN Rental Vacancy Rate

The rental vacancy rate in Hamilton County peaked in 2010 at 11.12%. Since then it has fallen by 3.76% to 7.36%. Data records for this series originated in 2005.

Rental Vacancy Rate: Hamilton County IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Hamilton County

Date US Indiana Hamilton County IN
2017 6.18% 7.14% 7.36%
2016 5.89% 6.96% 7.58%
2015 5.85% 7.94% 7.76%
2014 6.32% 8.09% 7.59%
2013 6.49% 7.00% 3.91%
2012 6.77% 8.43%
2011 7.40% 8.47%
2010 8.17% 8.78% 11.12%
2009 8.43% 10.44%
2008 7.86% 9.02% 4.11%
2007 7.87% 9.72% 8.97%
2006 7.70% 11.17%

Rent as a Fraction of Income

Using median household income data for Hamilton County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hamilton County, median monthly gross rent as a fraction of median household income was 13.99% in 2017 according to the ACS.

Hamilton 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%
Hamilton County IN 13.99% -1.08% -0.50%

Trends in Hamilton County IN Rent as a Fraction of Income

The fraction of median Hamilton County household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 15.07%. Since then it has fallen by 1.08% to 13.99%.

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

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

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

Date US Indiana Hamilton County IN
2017 20.13% 17.56% 13.99%
2016 20.43% 17.62% 15.07%
2015 20.63% 18.00% 14.18%
2014 20.89% 18.27% 14.48%
2013 20.78% 18.43% 14.67%
2012 20.65% 18.27% 13.11%
2011 20.70% 18.27% 12.77%
2010 20.50% 18.37% 12.92%
2009 20.12% 18.15% 14.93%
2008 19.00% 16.76% 12.64%
2007 18.66% 16.14% 12.64%
2006 18.90% 16.87% 13.41%

Renter Fraction in Hamilton County Indiana

You can calculate the renter fraction in Hamilton 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 Hamilton County as a fraction of total Hamilton County households. In 2017 21.72% of households were renters according to Census ACS data.

Hamilton 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%
Hamilton County IN 21.72% -0.73% -0.71%

Trends in the Hamilton County IN Renter Fraction

The Hamilton County household renter fraction peaked in in 2009 at 23.29% and is now 1.57% below that level. The origin year for the series is 2005.

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

Fraction of renters in Hamilton County

History of Hamilton County Renter Fraction

Date US Indiana Hamilton County IN
2017 36.13% 30.96% 21.72%
2016 36.88% 31.65% 22.45%
2015 36.97% 31.82% 21.81%
2014 36.90% 31.42% 22.43%
2013 36.50% 31.48% 21.11%
2012 36.09% 30.62% 21.39%
2011 35.42% 30.28% 19.54%
2010 34.65% 29.71% 20.39%
2009 34.13% 29.57% 23.29%
2008 33.36% 28.17% 19.20%
2007 32.80% 28.37% 21.58%
2006 32.73% 27.88% 18.73%

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.