Department of Numbers

Monroe County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Monroe County IN was $843 in 2017 according to the Census ACS survey.1 Average gross rent in Monroe County was $925 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 Monroe County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Monroe 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%
Monroe County IN Median Gross Rent $843 -4.20% -2.20%

Monroe County IN Real Gross Rent Trends

Median gross rent for Monroe County peaked in real terms in 2016 at $880 and is now $37 (4.20%) lower. Average gross rent for Monroe County peaked in real terms in 2015 at $958 and is now $33 (3.44%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Monroe County

Date US
Median
Indiana
Median
Monroe County IN
Median
Monroe County IN
Average
2017 $1,012 $793 $843 $925
2016 $996 $780 $880 $928
2015 $987 $780 $870 $958
2014 $956 $771 $862 $886
2013 $924 $746 $849 $910
2012 $912 $738 $842 $864
2011 $912 $741 $802 $930
2010 $927 $740 $751 $870
2009 $931 $759 $808 $914
2008 $947 $770 $804 $863
2007 $899 $727 $778 $851
2006 $909 $760 $837 $931

Monroe 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 Monroe County Indiana was 4.38% according to Census ACS data.

Rental Vacancy Rate in Monroe County Indiana

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Indiana 7.14% +0.18% -0.95%
Monroe County IN 4.38% -2.68% -2.22%

Trends in Monroe County IN Rental Vacancy Rate

The rental vacancy rate in Monroe County peaked in 2006 at 15.79%. Since then it has fallen by 11.41% to 4.38%. Data records for this series originated in 2005. From a 2013 post peak low of 3.01%, the rental vacancy rate has increased by 1.37%.

Rental Vacancy Rate: Monroe County IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Monroe County

Date US Indiana Monroe County IN
2017 6.18% 7.14% 4.38%
2016 5.89% 6.96% 7.06%
2015 5.85% 7.94%
2014 6.32% 8.09% 6.60%
2013 6.49% 7.00% 3.01%
2012 6.77% 8.43% 5.24%
2011 7.40% 8.47% 6.38%
2010 8.17% 8.78% 5.59%
2009 8.43% 10.44%
2008 7.86% 9.02% 3.95%
2007 7.87% 9.72% 11.33%
2006 7.70% 11.17% 15.79%

Rent as a Fraction of Income

Using median household income data for Monroe County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Monroe County, median monthly gross rent as a fraction of median household income was 20.77% in 2017 according to the ACS.

Monroe 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%
Monroe County IN 20.77% -3.11% -2.38%

Trends in Monroe County IN Rent as a Fraction of Income

The fraction of median Monroe County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 25.48%. Since then it has fallen by 4.71% to 20.77%.

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

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

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

Date US Indiana Monroe County IN
2017 20.13% 17.56% 20.77%
2016 20.43% 17.62% 23.87%
2015 20.63% 18.00% 22.53%
2014 20.89% 18.27% 23.14%
2013 20.78% 18.43% 23.76%
2012 20.65% 18.27% 25.48%
2011 20.70% 18.27% 24.09%
2010 20.50% 18.37% 22.85%
2009 20.12% 18.15% 25.30%
2008 19.00% 16.76% 21.87%
2007 18.66% 16.14% 21.84%
2006 18.90% 16.87% 22.05%

Renter Fraction in Monroe County Indiana

You can calculate the renter fraction in Monroe 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 Monroe County as a fraction of total Monroe County households. In 2017 46.39% of households were renters according to Census ACS data.

Monroe 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%
Monroe County IN 46.39% +2.44% +1.24%

Trends in the Monroe County IN Renter Fraction

The Monroe County household renter fraction peaked in in 2013 at 48.53% and is now 2.14% below that level. The origin year for the series is 2005.

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

Fraction of renters in Monroe County

History of Monroe County Renter Fraction

Date US Indiana Monroe County IN
2017 36.13% 30.96% 46.39%
2016 36.88% 31.65% 43.95%
2015 36.97% 31.82% 46.53%
2014 36.90% 31.42% 45.15%
2013 36.50% 31.48% 48.53%
2012 36.09% 30.62% 46.35%
2011 35.42% 30.28% 45.45%
2010 34.65% 29.71% 44.92%
2009 34.13% 29.57% 46.56%
2008 33.36% 28.17% 44.76%
2007 32.80% 28.37% 44.46%
2006 32.73% 27.88% 40.51%

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.