Department of Numbers

Hancock County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Hancock County IN was $858 in 2017 according to the Census ACS survey.1 Average gross rent in Hancock County was $914 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 Hancock County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Hancock 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%
Hancock County IN Median Gross Rent $858 +1.30% -3.27%

Hancock County IN Real Gross Rent Trends

Median gross rent for Hancock County peaked in real terms in 2010 at $887 and is now $29 (3.27%) lower. From a recent low of 782.0 in 2013, real median gross rent has now increased by $76 (9.72%). Average gross rent for Hancock County peaked in real terms in 2016 at $924 and is now $10 (1.08%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Hancock County

Date US
Median
Indiana
Median
Hancock County IN
Median
Hancock County IN
Average
2017 $1,012 $793 $858 $914
2016 $996 $780 $847 $924
2015 $987 $780 $864 $808
2014 $956 $771 $887 $850
2013 $924 $746 $782 $785
2012 $912 $738 $878 $846
2011 $912 $741 $789 $803
2010 $927 $740 $887 $871
2009 $931 $759 $812 $812
2008 $947 $770 $798 $832
2007 $899 $727 $817 $747
2006 $909 $760 $824 $809

Historical Rental Vacancy Rate data for Hancock County

Date US Indiana Hancock County IN
2017 6.18% 7.14%
2016 5.89% 6.96%
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 Hancock County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hancock County, median monthly gross rent as a fraction of median household income was 14.61% in 2017 according to the ACS.

Hancock 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%
Hancock County IN 14.61% -0.15% -0.79%

Trends in Hancock County IN Rent as a Fraction of Income

The fraction of median Hancock County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2006 series origin) at 16.75%. Since then it has fallen by 2.14% to 14.61%.

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

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

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

Date US Indiana Hancock County IN
2017 20.13% 17.56% 14.61%
2016 20.43% 17.62% 14.76%
2015 20.63% 18.00% 14.41%
2014 20.89% 18.27% 15.40%
2013 20.78% 18.43% 14.05%
2012 20.65% 18.27% 16.26%
2011 20.70% 18.27% 15.84%
2010 20.50% 18.37% 16.75%
2009 20.12% 18.15% 15.72%
2008 19.00% 16.76% 13.61%
2007 18.66% 16.14% 13.88%
2006 18.90% 16.87% 13.65%

Renter Fraction in Hancock County Indiana

You can calculate the renter fraction in Hancock 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 Hancock County as a fraction of total Hancock County households. In 2017 17.83% of households were renters according to Census ACS data.

Hancock 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%
Hancock County IN 17.83% -6.89% -8.25%

Trends in the Hancock County IN Renter Fraction

The Hancock County household renter fraction peaked in in 2014 at 26.08% and is now 8.25% below that level. The origin year for the series is 2006.

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

Fraction of renters in Hancock County

History of Hancock County Renter Fraction

Date US Indiana Hancock County IN
2017 36.13% 30.96% 17.83%
2016 36.88% 31.65% 24.72%
2015 36.97% 31.82% 19.72%
2014 36.90% 31.42% 26.08%
2013 36.50% 31.48% 20.04%
2012 36.09% 30.62% 19.40%
2011 35.42% 30.28% 18.95%
2010 34.65% 29.71% 22.16%
2009 34.13% 29.57% 19.63%
2008 33.36% 28.17% 19.32%
2007 32.80% 28.37% 16.43%
2006 32.73% 27.88% 21.48%

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.