Department of Numbers

Marion County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Marion County IN was $867 in 2017 according to the Census ACS survey.1 Average gross rent in Marion County was $890 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 Marion County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Marion 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%
Marion County IN Median Gross Rent $867 +3.09% +7.43%

Marion County IN Real Gross Rent Trends

At $867, real median gross rent in Marion County was at its highest level in 2017 since the series began in 2005. At $890, real average gross rent in Marion County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Marion County

Date US
Median
Indiana
Median
Marion County IN
Median
Marion County IN
Average
2017 $1,012 $793 $867 $890
2016 $996 $780 $841 $876
2015 $987 $780 $824 $854
2014 $956 $771 $807 $834
2013 $924 $746 $796 $826
2012 $912 $738 $771 $786
2011 $912 $741 $776 $789
2010 $927 $740 $778 $797
2009 $931 $759 $794 $810
2008 $947 $770 $801 $796
2007 $899 $727 $761 $773
2006 $909 $760 $788 $801

Marion 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 Marion County Indiana was 7.92% according to Census ACS data.

Rental Vacancy Rate in Marion County Indiana

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Indiana 7.14% +0.18% -0.95%
Marion County IN 7.92% -0.23% -0.80%

Trends in Marion County IN Rental Vacancy Rate

The rental vacancy rate in Marion County peaked in 2006 at 13.85%. Since then it has fallen by 5.93% to 7.92%. Data records for this series originated in 2005.

Rental Vacancy Rate: Marion County IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Marion County

Date US Indiana Marion County IN
2017 6.18% 7.14% 7.92%
2016 5.89% 6.96% 8.15%
2015 5.85% 7.94% 8.00%
2014 6.32% 8.09% 8.72%
2013 6.49% 7.00% 8.89%
2012 6.77% 8.43% 10.85%
2011 7.40% 8.47% 9.37%
2010 8.17% 8.78% 8.81%
2009 8.43% 10.44% 9.80%
2008 7.86% 9.02% 9.68%
2007 7.87% 9.72% 11.94%
2006 7.70% 11.17% 13.85%

Rent as a Fraction of Income

Using median household income data for Marion County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Marion County, median monthly gross rent as a fraction of median household income was 21.98% in 2017 according to the ACS.

Marion 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%
Marion County IN 21.98% -0.17% -0.24%

Trends in Marion County IN Rent as a Fraction of Income

The fraction of median Marion County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 23.32%. Since then it has fallen by 1.34% to 21.98%.

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

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

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

Date US Indiana Marion County IN
2017 20.13% 17.56% 21.98%
2016 20.43% 17.62% 22.14%
2015 20.63% 18.00% 23.32%
2014 20.89% 18.27% 22.22%
2013 20.78% 18.43% 22.61%
2012 20.65% 18.27% 21.65%
2011 20.70% 18.27% 22.44%
2010 20.50% 18.37% 22.12%
2009 20.12% 18.15% 21.05%
2008 19.00% 16.76% 19.22%
2007 18.66% 16.14% 17.79%
2006 18.90% 16.87% 18.94%

Renter Fraction in Marion County Indiana

You can calculate the renter fraction in Marion 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 Marion County as a fraction of total Marion County households. In 2017 45.82% of households were renters according to Census ACS data.

Marion 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%
Marion County IN 45.82% -1.38% +0.12%

Trends in the Marion County IN Renter Fraction

The Marion County household renter fraction peaked in in 2015 at 47.36% and is now 1.54% below that level. The origin year for the series is 2005.

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

Fraction of renters in Marion County

History of Marion County Renter Fraction

Date US Indiana Marion County IN
2017 36.13% 30.96% 45.82%
2016 36.88% 31.65% 47.20%
2015 36.97% 31.82% 47.36%
2014 36.90% 31.42% 45.70%
2013 36.50% 31.48% 47.08%
2012 36.09% 30.62% 46.09%
2011 35.42% 30.28% 44.53%
2010 34.65% 29.71% 42.48%
2009 34.13% 29.57% 43.21%
2008 33.36% 28.17% 39.46%
2007 32.80% 28.37% 38.25%
2006 32.73% 27.88% 39.85%

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.