Department of Numbers

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 $725 in 2016 according to the Census ACS survey.1 Average gross rent in Michigan City was $680 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Michigan City median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Michigan City Indiana (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Indiana Median Gross Rent $768 0.00% +4.63%
Michigan City, IN Median Gross Rent $725 +3.13% +4.02%

Michigan City, IN Real Gross Rent Trends

Median gross rent for Michigan City peaked in real terms in 2008 at $808 and is now $83 (10.27%) lower. Average gross rent for Michigan City peaked in real terms in 2008 at $747 and is now $67 (8.97%) lower. From a recent low of 624.0 in 2009, real average gross rent has now increased by $56 (8.97%).

Real Gross Rent in Michigan City: Michigan City IN Median, Michigan City IN Average, Indiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Michigan City

Date US
Median
Indiana
Median
Michigan City, IN
Median
Michigan City, IN
Average
2016 $981 $768 $725 $680
2015 $972 $768 $703 $694
2014 $942 $759 $718 $735
2013 $910 $734 $697 $694
2012 $898 $726 $660 $685
2011 $898 $729 $733 $744
2010 $912 $729 $712 $674
2009 $916 $748 $682 $624
2008 $932 $758 $808 $747
2007 $885 $716 $650 $643
2006 $895 $748 $726 $721
2005 $869 $734 $673 $636

Michigan City Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Michigan City Indiana was 6.47% according to Census ACS data.

Rental Vacancy Rate in Michigan City Indiana

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Indiana 6.96% -0.98% -0.04%
Michigan City, IN 6.47% +0.68%

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 5.63% to 6.47%. Data records for this series originated in 2005. From a 2014 post peak low of 5.00%, the rental vacancy rate has increased by 1.47%.

Rental Vacancy Rate: Michigan City IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Michigan City

Date US Indiana Michigan City, IN
2016 5.89% 6.96% 6.47%
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 16.26% in 2016 according to the ACS.

Michigan City Indiana Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Indiana 17.62% -0.38% -0.81%
Michigan City, IN 16.26% -1.91% -1.62%

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 2.52% to 16.26%.

Fraction of Income towards Rent: Michigan City IN, Indiana, US

Percent of median household income going towards median monthly gross rent in Michigan City Indiana

Historical Data for Annual Rent as a Fraction of Income in Michigan City Indiana

Date US Indiana Michigan City, IN
2016 20.43% 17.62% 16.26%
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 2016 25.76% of households were renters according to Census ACS data.

Michigan City Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Indiana 31.65% -0.17% +0.17%
Michigan City, IN 25.76% -4.30% -3.48%

Trends in the Michigan City, IN Renter Fraction

The Michigan City household renter fraction peaked in in 2014 at 30.94% and is now 5.18% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Michigan City IN, Indiana, US

Fraction of renters in Michigan City

History of Michigan City Renter Fraction

Date US Indiana Michigan City, IN
2016 36.88% 31.65% 25.76%
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.