Department of Numbers

Morgan County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Morgan County IN was $750 in 2017 according to the Census ACS survey.1 Average gross rent in Morgan County was $769 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 Morgan County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Morgan 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%
Morgan County IN Median Gross Rent $750 -5.78% +1.90%

Morgan County IN Real Gross Rent Trends

Median gross rent for Morgan County peaked in real terms in 2006 at $861 and is now $111 (12.89%) lower. From a recent low of 730.0 in 2013, real median gross rent has now increased by $20 (2.74%). Average gross rent for Morgan County peaked in real terms in 2015 at $790 and is now $21 (2.66%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Morgan County

Date US
Median
Indiana
Median
Morgan County IN
Median
Morgan County IN
Average
2017 $1,012 $793 $750 $769
2016 $996 $780 $796 $776
2015 $987 $780 $826 $790
2014 $956 $771 $736 $680
2013 $924 $746 $730 $684
2012 $912 $738 $774 $783
2011 $912 $741 $769 $775
2010 $927 $740 $821 $773
2009 $931 $759 $754 $749
2008 $947 $770 $787 $736
2007 $899 $727 $793 $736
2006 $909 $760 $861 $719

Morgan County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Morgan County Indiana was 14.52% according to Census ACS data.

Rental Vacancy Rate in Morgan County Indiana

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Indiana 7.14% +0.18% -0.95%
Morgan County IN

Trends in Morgan County IN Rental Vacancy Rate

The rental vacancy rate in Morgan County peaked in 2007 at 18.40%. Since then it has fallen by 3.88% to 14.52%. Data records for this series originated in 2005. From a 2010 post peak low of 10.02%, the rental vacancy rate has increased by 4.50%.

Rental Vacancy Rate: Morgan County IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Morgan County

Date US Indiana Morgan County IN
2017 6.18% 7.14%
2016 5.89% 6.96%
2015 5.85% 7.94% 14.52%
2014 6.32% 8.09%
2013 6.49% 7.00%
2012 6.77% 8.43%
2011 7.40% 8.47%
2010 8.17% 8.78% 10.02%
2009 8.43% 10.44%
2008 7.86% 9.02%
2007 7.87% 9.72% 18.40%
2006 7.70% 11.17% 13.99%

Rent as a Fraction of Income

Using median household income data for Morgan County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Morgan County, median monthly gross rent as a fraction of median household income was 14.77% in 2017 according to the ACS.

Morgan 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%
Morgan County IN 14.77% -0.78% -1.55%

Trends in Morgan County IN Rent as a Fraction of Income

The fraction of median Morgan County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 17.82%. Since then it has fallen by 3.05% to 14.77%.

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

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

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

Date US Indiana Morgan County IN
2017 20.13% 17.56% 14.77%
2016 20.43% 17.62% 15.54%
2015 20.63% 18.00% 16.40%
2014 20.89% 18.27% 16.31%
2013 20.78% 18.43% 15.14%
2012 20.65% 18.27% 17.82%
2011 20.70% 18.27% 16.92%
2010 20.50% 18.37% 17.17%
2009 20.12% 18.15% 14.70%
2008 19.00% 16.76% 14.95%
2007 18.66% 16.14% 15.94%
2006 18.90% 16.87% 16.57%

Renter Fraction in Morgan County Indiana

You can calculate the renter fraction in Morgan 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 Morgan County as a fraction of total Morgan County households. In 2017 26.05% of households were renters according to Census ACS data.

Morgan 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%
Morgan County IN 26.05% -1.87% +2.10%

Trends in the Morgan County IN Renter Fraction

The Morgan County household renter fraction peaked in in 2016 at 27.92% and is now 1.87% below that level. The origin year for the series is 2005.

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

Fraction of renters in Morgan County

History of Morgan County Renter Fraction

Date US Indiana Morgan County IN
2017 36.13% 30.96% 26.05%
2016 36.88% 31.65% 27.92%
2015 36.97% 31.82% 20.84%
2014 36.90% 31.42% 23.95%
2013 36.50% 31.48% 20.99%
2012 36.09% 30.62% 25.47%
2011 35.42% 30.28% 25.49%
2010 34.65% 29.71% 20.98%
2009 34.13% 29.57% 24.13%
2008 33.36% 28.17% 20.66%
2007 32.80% 28.37% 18.37%
2006 32.73% 27.88% 15.73%

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.