Michigan City Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Michigan City, IN (the Michigan City-La Porte metro area) was $694 in 2015 according to the Census ACS survey.1 Average gross rent in Michigan City was $685 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Michigan City median and average rent data will be released in September of 2017.
Data is also available below for Michigan City rental vacancy rates, Michigan City rent as a percent of median income and the fraction of renters in Michigan City.
Real Gross Rent in Michigan City Indiana (2015 dollars)2
| 2015 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $959 | +3.12% | +8.24% |
| Indiana Median Gross Rent | $758 | +1.20% | +5.72% |
| Michigan City, IN Median Gross Rent | $694 | -2.12% | +6.44% |
Michigan City, IN Real Gross Rent Trends
Median gross rent for Michigan City peaked in real terms in 2008 at $797 and is now $103 (12.92%) lower. Average gross rent for Michigan City peaked in real terms in 2008 at $737 and is now $52 (7.06%) lower. From a recent low of 616.0 in 2009, real average gross rent has now increased by $69 (11.20%).
Real Gross Rent in Michigan City: Michigan City IN Median, Michigan City IN Average, Indiana Median, US Median
Real Gross Rent History for Michigan City
| Date | US Median |
Indiana Median |
Michigan City, IN Median |
Michigan City, IN Average |
|---|---|---|---|---|
| 2015 | $959 | $758 | $694 | $685 |
| 2014 | $930 | $749 | $709 | $726 |
| 2013 | $898 | $725 | $688 | $685 |
| 2012 | $886 | $717 | $652 | $676 |
| 2011 | $887 | $720 | $724 | $734 |
| 2010 | $901 | $719 | $703 | $666 |
| 2009 | $905 | $738 | $674 | $616 |
| 2008 | $920 | $748 | $797 | $737 |
| 2007 | $874 | $707 | $641 | $635 |
| 2006 | $883 | $739 | $717 | $712 |
| 2005 | $858 | $725 | $665 | $628 |
Michigan City Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Michigan City Indiana was 5.00% according to Census ACS data.
Rental Vacancy Rate in Michigan City Indiana
| 2015 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.85% | -0.47% | -0.92% |
| Indiana | 7.94% | -0.15% | -0.49% |
| Michigan City, IN | — | — | — |
Trends in Michigan City, IN Rental Vacancy Rate
The rental vacancy rate in Michigan City peaked in 2005 at 12.10%. Since then it has fallen by 7.10% to 5.00%. Data records for this series originated in 2005.
Rental Vacancy Rate: Michigan City IN, Indiana, US
Historical Rental Vacancy Rate data for Michigan City
| Date | US | Indiana | Michigan City, IN |
|---|---|---|---|
| 2015 | 5.85% | 7.94% | — |
| 2014 | 6.32% | 8.09% | 5.00% |
| 2013 | 6.49% | 7.00% | 5.79% |
| 2012 | 6.77% | 8.43% | 6.51% |
| 2011 | 7.40% | 8.47% | 12.03% |
| 2010 | 8.17% | 8.78% | 7.63% |
| 2009 | 8.43% | 10.44% | 6.75% |
| 2008 | 7.86% | 9.02% | 5.83% |
| 2007 | 7.87% | 9.72% | 8.05% |
| 2006 | 7.70% | 11.17% | 11.81% |
| 2005 | 7.74% | 10.67% | 12.10% |
Rent as a Fraction of Income
Using median household income data for Michigan City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Michigan City, median monthly gross rent as a fraction of median household income was 18.17% in 2015 according to the ACS.
Michigan City Indiana Median Annual Rent as a Fraction of Median Household Income
| 2015 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.63% | -0.26% | -0.02% |
| Indiana | 18.00% | -0.27% | -0.26% |
| Michigan City, IN | 18.17% | -0.51% | +1.23% |
Trends in Michigan City, IN Rent as a Fraction of Income
The fraction of median Michigan City household income required to pay median monthly gross rent peaked in 2008 (relative to the 2005 series origin) at 18.78%. Since then it has fallen by 0.62% to 18.17%.
Fraction of Income towards Rent: Michigan City IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Michigan City Indiana
| Date | US | Indiana | Michigan City, IN |
|---|---|---|---|
| 2015 | 20.63% | 18.00% | 18.17% |
| 2014 | 20.89% | 18.27% | 18.68% |
| 2013 | 20.78% | 18.43% | 17.88% |
| 2012 | 20.65% | 18.27% | 16.94% |
| 2011 | 20.70% | 18.27% | 17.63% |
| 2010 | 20.50% | 18.37% | 18.29% |
| 2009 | 20.12% | 18.15% | 16.30% |
| 2008 | 19.00% | 16.76% | 18.78% |
| 2007 | 18.66% | 16.14% | 15.98% |
| 2006 | 18.90% | 16.87% | 15.79% |
| 2005 | 18.89% | 16.78% | 14.73% |
Renter Fraction in Michigan City Indiana
You can calculate the renter fraction in Michigan City 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 Michigan City as a fraction of total Michigan City households. In 2015 30.06% of households were renters according to Census ACS data.
Michigan City Fraction of Renters by Household Units
| 2015 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 36.97% | +0.07% | +0.88% |
| Indiana | 31.82% | +0.40% | +1.20% |
| Michigan City, IN | 30.06% | -0.88% | -0.03% |
Trends in the Michigan City, IN Renter Fraction
The Michigan City household renter fraction peaked in in 2014 at 30.94% and is now 0.88% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Michigan City IN, Indiana, US
History of Michigan City Renter Fraction
| Date | US | Indiana | Michigan City, IN |
|---|---|---|---|
| 2015 | 36.97% | 31.82% | 30.06% |
| 2014 | 36.90% | 31.42% | 30.94% |
| 2013 | 36.50% | 31.48% | 29.24% |
| 2012 | 36.09% | 30.62% | 30.09% |
| 2011 | 35.42% | 30.28% | 27.10% |
| 2010 | 34.65% | 29.71% | 26.29% |
| 2009 | 34.13% | 29.57% | 23.92% |
| 2008 | 33.36% | 28.17% | 24.95% |
| 2007 | 32.80% | 28.37% | 25.48% |
| 2006 | 32.73% | 27.88% | 24.45% |
| 2005 | 33.10% | 28.00% | 23.11% |
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. ↩
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