Department of Numbers

Vanderburgh County Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Vanderburgh County IN was $732 in 2017 according to the Census ACS survey.1 Average gross rent in Vanderburgh County was $765 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 Vanderburgh County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Vanderburgh 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%
Vanderburgh County IN Median Gross Rent $732 -4.31% -3.68%

Vanderburgh County IN Real Gross Rent Trends

Median gross rent for Vanderburgh County peaked in real terms in 2016 at $765 and is now $33 (4.31%) lower. Average gross rent for Vanderburgh County peaked in real terms in 2008 at $786 and is now $21 (2.67%) lower. From a recent low of 706.0 in 2015, real average gross rent has now increased by $59 (8.36%).

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Vanderburgh County

Date US
Median
Indiana
Median
Vanderburgh County IN
Median
Vanderburgh County IN
Average
2017 $1,012 $793 $732 $765
2016 $996 $780 $765 $764
2015 $987 $780 $721 $706
2014 $956 $771 $760 $748
2013 $924 $746 $723 $737
2012 $912 $738 $710 $722
2011 $912 $741 $732 $745
2010 $927 $740 $726 $738
2009 $931 $759 $744 $764
2008 $947 $770 $734 $786
2007 $899 $727 $710 $729
2006 $909 $760 $705 $744

Vanderburgh County 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 Vanderburgh County Indiana was 5.76% according to Census ACS data.

Rental Vacancy Rate in Vanderburgh County Indiana

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

Trends in Vanderburgh County IN Rental Vacancy Rate

The rental vacancy rate in Vanderburgh County peaked in 2005 at 14.88%. Since then it has fallen by 9.12% to 5.76%. Data records for this series originated in 2005. From a 2013 post peak low of 2.61%, the rental vacancy rate has increased by 3.15%.

Rental Vacancy Rate: Vanderburgh County IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Vanderburgh County

Date US Indiana Vanderburgh County IN
2017 6.18% 7.14%
2016 5.89% 6.96% 5.76%
2015 5.85% 7.94%
2014 6.32% 8.09% 10.33%
2013 6.49% 7.00% 2.61%
2012 6.77% 8.43% 5.50%
2011 7.40% 8.47% 6.70%
2010 8.17% 8.78%
2009 8.43% 10.44%
2008 7.86% 9.02% 6.80%
2007 7.87% 9.72% 8.88%
2006 7.70% 11.17%

Rent as a Fraction of Income

Using median household income data for Vanderburgh County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Vanderburgh County, median monthly gross rent as a fraction of median household income was 18.82% in 2017 according to the ACS.

Vanderburgh 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%
Vanderburgh County IN 18.82% -0.80% -2.36%

Trends in Vanderburgh County IN Rent as a Fraction of Income

The fraction of median Vanderburgh County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 21.18%. Since then it has fallen by 2.36% to 18.82%.

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

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

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

Date US Indiana Vanderburgh County IN
2017 20.13% 17.56% 18.82%
2016 20.43% 17.62% 19.62%
2015 20.63% 18.00% 19.76%
2014 20.89% 18.27% 21.18%
2013 20.78% 18.43% 20.67%
2012 20.65% 18.27% 19.92%
2011 20.70% 18.27% 19.23%
2010 20.50% 18.37% 19.96%
2009 20.12% 18.15% 19.06%
2008 19.00% 16.76% 18.66%
2007 18.66% 16.14% 17.79%
2006 18.90% 16.87% 18.32%

Renter Fraction in Vanderburgh County Indiana

You can calculate the renter fraction in Vanderburgh 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 Vanderburgh County as a fraction of total Vanderburgh County households. In 2017 33.52% of households were renters according to Census ACS data.

Vanderburgh 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%
Vanderburgh County IN 33.52% -4.26% -3.69%

Trends in the Vanderburgh County IN Renter Fraction

The Vanderburgh County household renter fraction peaked in in 2009 at 38.32% and is now 4.80% below that level. The origin year for the series is 2005.

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

Fraction of renters in Vanderburgh County

History of Vanderburgh County Renter Fraction

Date US Indiana Vanderburgh County IN
2017 36.13% 30.96% 33.52%
2016 36.88% 31.65% 37.78%
2015 36.97% 31.82% 35.07%
2014 36.90% 31.42% 37.21%
2013 36.50% 31.48% 36.98%
2012 36.09% 30.62% 35.71%
2011 35.42% 30.28% 36.24%
2010 34.65% 29.71% 34.89%
2009 34.13% 29.57% 38.32%
2008 33.36% 28.17% 35.17%
2007 32.80% 28.37% 34.66%
2006 32.73% 27.88% 31.41%

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.