Department of Numbers

Kenton County Kentucky Residential Rent and Rental Statistics

The median monthly gross residential rent in Kenton County KY was $736 in 2017 according to the Census ACS survey.1 Average gross rent in Kenton County was $748 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 Kenton County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Kenton 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%
Kenton County KY Median Gross Rent $736 -5.28% -3.29%

Kenton County KY Real Gross Rent Trends

Median gross rent for Kenton County peaked in real terms in 2015 at $802 and is now $66 (8.23%) lower. Average gross rent for Kenton County peaked in real terms in 2008 at $811 and is now $63 (7.77%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Kenton County

Date US
Median
Kentucky
Median
Kenton County KY
Median
Kenton County KY
Average
2017 $1,012 $724 $736 $748
2016 $996 $718 $777 $761
2015 $987 $722 $802 $793
2014 $956 $694 $761 $772
2013 $924 $682 $741 $733
2012 $912 $656 $719 $756
2011 $912 $656 $748 $759
2010 $927 $664 $755 $774
2009 $931 $678 $739 $760
2008 $947 $664 $767 $811
2007 $899 $641 $710 $719
2006 $909 $653 $735 $737

Kenton 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 Kenton County Kentucky was 3.02% according to Census ACS data.

Rental Vacancy Rate in Kenton County Kentucky

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Kentucky 5.49% -0.33% -0.74%
Kenton County KY 3.02% -1.19% -3.72%

Trends in Kenton County KY Rental Vacancy Rate

The rental vacancy rate in Kenton County peaked in 2007 at 13.74%. Since then it has fallen by 10.72% to 3.02%. Data records for this series originated in 2005.

Rental Vacancy Rate: Kenton County KY, Kentucky, US

Rental vacancy rate in Kentucky

Historical Rental Vacancy Rate data for Kenton County

Date US Kentucky Kenton County KY
2017 6.18% 5.49% 3.02%
2016 5.89% 5.82% 4.21%
2015 5.85% 6.01%
2014 6.32% 6.23% 6.74%
2013 6.49% 6.72% 11.41%
2012 6.77% 5.52% 5.99%
2011 7.40% 7.90% 8.33%
2010 8.17% 7.53% 9.04%
2009 8.43% 9.83%
2008 7.86% 8.03% 6.12%
2007 7.87% 9.86% 13.74%
2006 7.70% 9.78%

Rent as a Fraction of Income

Using median household income data for Kenton County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Kenton County, median monthly gross rent as a fraction of median household income was 15.07% in 2017 according to the ACS.

Kenton 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%
Kenton County KY 15.07% +0.31% -1.35%

Trends in Kenton County KY Rent as a Fraction of Income

The fraction of median Kenton County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 17.99%. Since then it has fallen by 2.91% to 15.07%.

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

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

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

Date US Kentucky Kenton County KY
2017 20.13% 17.96% 15.07%
2016 20.43% 18.18% 14.76%
2015 20.63% 18.63% 17.99%
2014 20.89% 18.94% 16.42%
2013 20.78% 18.47% 16.21%
2012 20.65% 18.29% 15.62%
2011 20.70% 18.26% 17.36%
2010 20.50% 18.36% 16.44%
2009 20.12% 18.36% 15.85%
2008 19.00% 16.70% 15.35%
2007 18.66% 16.78% 14.85%
2006 18.90% 16.70% 13.72%

Renter Fraction in Kenton County Kentucky

You can calculate the renter fraction in Kenton 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 Kenton County as a fraction of total Kenton County households. In 2017 36.12% of households were renters according to Census ACS data.

Kenton 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%
Kenton County KY 36.12% +3.31% -0.06%

Trends in the Kenton County KY Renter Fraction

The Kenton County household renter fraction peaked in in 2015 at 37.64% and is now 1.52% below that level. The origin year for the series is 2005.

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

Fraction of renters in Kenton County

History of Kenton County Renter Fraction

Date US Kentucky Kenton County KY
2017 36.13% 33.53% 36.12%
2016 36.88% 33.16% 32.81%
2015 36.97% 33.67% 37.64%
2014 36.90% 33.93% 36.18%
2013 36.50% 32.62% 33.78%
2012 36.09% 32.96% 34.59%
2011 35.42% 31.14% 32.56%
2010 34.65% 31.35% 31.27%
2009 34.13% 31.35% 30.96%
2008 33.36% 30.47% 33.01%
2007 32.80% 29.28% 31.51%
2006 32.73% 29.35% 30.18%

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.