Monroe County Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Monroe County IN was $937 in 2019 according to the Census ACS survey.1 Average gross rent in Monroe County was $976 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Monroe County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Monroe County Indiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Indiana Median Gross Rent | $840 | +0.60% | +4.48% |
| Monroe County IN Median Gross Rent | $937 | +2.85% | +3.19% |
Monroe County IN Real Gross Rent Trends
At $937, real median gross rent in Monroe County was at its highest level in 2019 since the series began in 2005. Average gross rent for Monroe County peaked in real terms in 2015 at $988 and is now $12 (1.21%) lower.
Real Gross Rent: Monroe County IN Median, Monroe County IN Average, Indiana Median, US Median
Real Gross Rent History for Monroe County
| Date | US Median |
Indiana Median |
Monroe County IN Median |
Monroe County IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $937 | $976 |
| 2018 | $1,077 | $835 | $911 | $963 |
| 2017 | $1,043 | $818 | $869 | $954 |
| 2016 | $1,027 | $804 | $908 | $957 |
| 2015 | $1,017 | $804 | $897 | $988 |
| 2014 | $986 | $795 | $889 | $913 |
| 2013 | $953 | $769 | $875 | $938 |
| 2012 | $940 | $761 | $868 | $890 |
| 2011 | $941 | $764 | $827 | $959 |
| 2010 | $955 | $763 | $774 | $897 |
| 2009 | $960 | $783 | $833 | $943 |
| 2007 | $927 | $750 | $802 | $878 |
| 2005 | $910 | $769 | $788 | $833 |
Monroe County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Monroe County Indiana was 6.71% according to Census ACS data.
Rental Vacancy Rate in Monroe County Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| Monroe County IN | 6.71% | +2.20% | -0.35% |
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 9.08% to 6.71%. Data records for this series originated in 2005. From a 2013 post peak low of 3.01%, the rental vacancy rate has increased by 3.70%.
Rental Vacancy Rate: Monroe County IN, Indiana, US
Historical Rental Vacancy Rate data for Monroe County
| Date | US | Indiana | Monroe County IN |
|---|---|---|---|
| 2019 | 5.97% | 6.89% | 6.71% |
| 2018 | 6.15% | 6.59% | 4.51% |
| 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% | — |
| 2007 | 7.87% | 9.72% | 11.33% |
| 2005 | 7.74% | 10.67% | 7.40% |
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 21.44% in 2019 according to the ACS.
Monroe County Indiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Indiana | 17.50% | -0.15% | -0.12% |
| Monroe County IN | 21.44% | -1.24% | -2.44% |
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 4.04% to 21.44%. From a 2017 low of 20.77%, the fraction of income going to rent has increased by 0.67%.
Fraction of Income towards Rent: Monroe County IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Monroe County Indiana
| Date | US | Indiana | Monroe County IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 21.44% |
| 2018 | 20.50% | 17.65% | 22.67% |
| 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% |
| 2007 | 18.66% | 16.14% | 21.84% |
| 2005 | 18.89% | 16.78% | 22.04% |
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 2019 41.23% of households were renters according to Census ACS data.
Monroe County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Indiana | 30.69% | -0.37% | -0.96% |
| Monroe County IN | 41.23% | -4.34% | -2.72% |
Trends in the Monroe County IN Renter Fraction
The Monroe County household renter fraction peaked in in 2013 at 48.53% and is now 7.30% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Monroe County IN, Indiana, US
History of Monroe County Renter Fraction
| Date | US | Indiana | Monroe County IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 41.23% |
| 2018 | 36.05% | 31.06% | 45.57% |
| 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% |
| 2007 | 32.80% | 28.37% | 44.46% |
| 2005 | 33.10% | 28.00% | 45.64% |
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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