Department of Numbers

Tippecanoe County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Tippecanoe County IN was $793 in 2017 according to the Census ACS survey.1 Average gross rent in Tippecanoe County was $848 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 Tippecanoe County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Tippecanoe 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%
Tippecanoe County IN Median Gross Rent $793 +0.25% -4.11%

Tippecanoe County IN Real Gross Rent Trends

Median gross rent for Tippecanoe County peaked in real terms in 2014 at $827 and is now $34 (4.11%) lower. Average gross rent for Tippecanoe County peaked in real terms in 2014 at $883 and is now $35 (3.96%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Tippecanoe County

Date US
Median
Indiana
Median
Tippecanoe County IN
Median
Tippecanoe County IN
Average
2017 $1,012 $793 $793 $848
2016 $996 $780 $791 $863
2015 $987 $780 $813 $878
2014 $956 $771 $827 $883
2013 $924 $746 $815 $860
2012 $912 $738 $784 $848
2011 $912 $741 $809 $875
2010 $927 $740 $793 $837
2009 $931 $759 $806 $833
2008 $947 $770 $786 $862
2007 $899 $727 $765 $814
2006 $909 $760 $812 $837

Tippecanoe 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 Tippecanoe County Indiana was 4.32% according to Census ACS data.

Rental Vacancy Rate in Tippecanoe County Indiana

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Indiana 7.14% +0.18% -0.95%
Tippecanoe County IN 4.32% -1.89% -4.35%

Trends in Tippecanoe County IN Rental Vacancy Rate

The rental vacancy rate in Tippecanoe County peaked in 2006 at 8.73%. Since then it has fallen by 4.41% to 4.32%. Data records for this series originated in 2005. From a 2013 post peak low of 2.84%, the rental vacancy rate has increased by 1.48%.

Rental Vacancy Rate: Tippecanoe County IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Tippecanoe County

Date US Indiana Tippecanoe County IN
2017 6.18% 7.14% 4.32%
2016 5.89% 6.96% 6.21%
2015 5.85% 7.94% 3.06%
2014 6.32% 8.09% 8.67%
2013 6.49% 7.00% 2.84%
2012 6.77% 8.43% 5.86%
2011 7.40% 8.47% 3.66%
2010 8.17% 8.78% 6.10%
2009 8.43% 10.44% 5.31%
2008 7.86% 9.02% 4.37%
2007 7.87% 9.72% 6.88%
2006 7.70% 11.17% 8.73%

Rent as a Fraction of Income

Using median household income data for Tippecanoe County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Tippecanoe County, median monthly gross rent as a fraction of median household income was 18.24% in 2017 according to the ACS.

Tippecanoe 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%
Tippecanoe County IN 18.24% +0.04% -2.95%

Trends in Tippecanoe County IN Rent as a Fraction of Income

The fraction of median Tippecanoe County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 23.13%. Since then it has fallen by 4.89% to 18.24%. From a 2016 low of 18.20%, the fraction of income going to rent has increased by 0.04%.

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

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

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

Date US Indiana Tippecanoe County IN
2017 20.13% 17.56% 18.24%
2016 20.43% 17.62% 18.20%
2015 20.63% 18.00% 18.88%
2014 20.89% 18.27% 21.18%
2013 20.78% 18.43% 20.06%
2012 20.65% 18.27% 21.46%
2011 20.70% 18.27% 21.85%
2010 20.50% 18.37% 23.13%
2009 20.12% 18.15% 21.21%
2008 19.00% 16.76% 18.32%
2007 18.66% 16.14% 19.68%
2006 18.90% 16.87% 20.79%

Renter Fraction in Tippecanoe County Indiana

You can calculate the renter fraction in Tippecanoe 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 Tippecanoe County as a fraction of total Tippecanoe County households. In 2017 41.32% of households were renters according to Census ACS data.

Tippecanoe 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%
Tippecanoe County IN 41.32% -2.14% -5.04%

Trends in the Tippecanoe County IN Renter Fraction

The Tippecanoe County household renter fraction peaked in in 2013 at 48.16% and is now 6.84% below that level. The origin year for the series is 2005.

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

Fraction of renters in Tippecanoe County

History of Tippecanoe County Renter Fraction

Date US Indiana Tippecanoe County IN
2017 36.13% 30.96% 41.32%
2016 36.88% 31.65% 43.46%
2015 36.97% 31.82% 47.48%
2014 36.90% 31.42% 46.36%
2013 36.50% 31.48% 48.16%
2012 36.09% 30.62% 44.40%
2011 35.42% 30.28% 48.10%
2010 34.65% 29.71% 43.71%
2009 34.13% 29.57% 46.08%
2008 33.36% 28.17% 43.16%
2007 32.80% 28.37% 45.24%
2006 32.73% 27.88% 43.09%

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.