Department of Numbers

Hardin County Kentucky Residential Rent and Rental Statistics

The median monthly gross residential rent in Hardin County KY was $785 in 2017 according to the Census ACS survey.1 Average gross rent in Hardin County was $816 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 Hardin County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Hardin County Kentucky (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Kentucky Median Gross Rent $724 +0.84% +4.32%
Hardin County KY Median Gross Rent $785 +1.95% -0.63%

Hardin County KY Real Gross Rent Trends

Median gross rent for Hardin County peaked in real terms in 2014 at $790 and is now $5 (0.63%) lower. Average gross rent for Hardin County peaked in real terms in 2015 at $824 and is now $8 (0.97%) lower.

Real Gross Rent: Hardin County KY Median, Hardin County KY Average, Kentucky Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Hardin County

Date US
Median
Kentucky
Median
Hardin County KY
Median
Hardin County KY
Average
2017 $1,012 $724 $785 $816
2016 $996 $718 $770 $786
2015 $987 $722 $789 $824
2014 $956 $694 $790 $758
2013 $924 $682 $710 $726
2012 $912 $656 $748 $790
2011 $912 $656 $750 $820
2010 $927 $664 $701 $717
2009 $931 $678 $774 $776
2008 $947 $664 $711 $711
2007 $899 $641 $646 $636
2006 $909 $653 $623 $520

Hardin County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2012 the rental vacancy rate for Hardin County Kentucky was 12.70% according to Census ACS data.

Rental Vacancy Rate in Hardin County Kentucky

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Kentucky 5.49% -0.33% -0.74%
Hardin County KY

Trends in Hardin County KY Rental Vacancy Rate

The rental vacancy rate in Hardin County peaked in 2007 at 21.47%. Since then it has fallen by 8.77% to 12.70%. Data records for this series originated in 2005. From a 2010 post peak low of 5.58%, the rental vacancy rate has increased by 7.12%.

Rental Vacancy Rate: Hardin County KY, Kentucky, US

Rental vacancy rate in Kentucky

Historical Rental Vacancy Rate data for Hardin County

Date US Kentucky Hardin County KY
2017 6.18% 5.49%
2016 5.89% 5.82%
2015 5.85% 6.01%
2014 6.32% 6.23%
2013 6.49% 6.72%
2012 6.77% 5.52% 12.70%
2011 7.40% 7.90%
2010 8.17% 7.53% 5.58%
2009 8.43% 9.83% 15.18%
2008 7.86% 8.03%
2007 7.87% 9.86% 21.47%
2006 7.70% 9.78%

Rent as a Fraction of Income

Using median household income data for Hardin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hardin County, median monthly gross rent as a fraction of median household income was 18.41% in 2017 according to the ACS.

Hardin County Kentucky Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Kentucky 17.96% -0.22% -0.98%
Hardin County KY 18.41% +0.97% +0.21%

Trends in Hardin County KY Rent as a Fraction of Income

The fraction of median Hardin County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 18.70%. Since then it has fallen by 0.29% to 18.41%.

Fraction of Income towards Rent: Hardin County KY, Kentucky, US

Percent of median household income going towards median monthly gross rent in Hardin County Kentucky

Historical Data for Annual Rent as a Fraction of Income in Hardin County Kentucky

Date US Kentucky Hardin County KY
2017 20.13% 17.96% 18.41%
2016 20.43% 18.18% 17.44%
2015 20.63% 18.63% 18.70%
2014 20.89% 18.94% 18.20%
2013 20.78% 18.47% 17.36%
2012 20.65% 18.29% 17.67%
2011 20.70% 18.26% 18.11%
2010 20.50% 18.36% 17.88%
2009 20.12% 18.36% 18.63%
2008 19.00% 16.70% 14.81%
2007 18.66% 16.78% 13.84%
2006 18.90% 16.70% 15.21%

Renter Fraction in Hardin County Kentucky

You can calculate the renter fraction in Hardin 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 Hardin County as a fraction of total Hardin County households. In 2017 43.00% of households were renters according to Census ACS data.

Hardin County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Kentucky 33.53% +0.37% -0.40%
Hardin County KY 43.00% +5.25% +7.01%

Trends in the Hardin County KY Renter Fraction

At 43.00%, the 2017 household based renter fraction in Hardin County was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Hardin County KY, Kentucky, US

Fraction of renters in Hardin County

History of Hardin County Renter Fraction

Date US Kentucky Hardin County KY
2017 36.13% 33.53% 43.00%
2016 36.88% 33.16% 37.75%
2015 36.97% 33.67% 38.13%
2014 36.90% 33.93% 35.99%
2013 36.50% 32.62% 41.07%
2012 36.09% 32.96% 38.86%
2011 35.42% 31.14% 36.94%
2010 34.65% 31.35% 34.49%
2009 34.13% 31.35% 38.80%
2008 33.36% 30.47% 34.19%
2007 32.80% 29.28% 32.17%
2006 32.73% 29.35% 35.00%

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.