Department of Numbers

Oldham County Kentucky Residential Rent and Rental Statistics

The median monthly gross residential rent in Oldham County KY was $965 in 2017 according to the Census ACS survey.1 Average gross rent in Oldham County was $861 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 Oldham County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Oldham 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%
Oldham County KY Median Gross Rent $965 +11.82%

Oldham County KY Real Gross Rent Trends

At $965, real median gross rent in Oldham County was at its highest level in 2017 since the series began in 2016. At $861, real average gross rent in Oldham County was at its highest level in 2017 since the series began in 2016.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Oldham County

Date US
Median
Kentucky
Median
Oldham County KY
Median
Oldham County KY
Average
2017 $1,012 $724 $965 $861
2016 $996 $718 $863 $814
2015 $987 $722
2014 $956 $694
2013 $924 $682
2012 $912 $656
2011 $912 $656
2010 $927 $664
2009 $931 $678
2008 $947 $664
2007 $899 $641
2006 $909 $653

Historical Rental Vacancy Rate data for Oldham County

Date US Kentucky Oldham 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%
2011 7.40% 7.90%
2010 8.17% 7.53%
2009 8.43% 9.83%
2008 7.86% 8.03%
2007 7.87% 9.86%
2006 7.70% 9.78%

Rent as a Fraction of Income

Using median household income data for Oldham County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Oldham County, median monthly gross rent as a fraction of median household income was 11.99% in 2017 according to the ACS.

Oldham 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%
Oldham County KY 11.99% +0.70%

Trends in Oldham County KY Rent as a Fraction of Income

Oldham County renters paid 11.99% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2016.

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

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

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

Date US Kentucky Oldham County KY
2017 20.13% 17.96% 11.99%
2016 20.43% 18.18% 11.29%
2015 20.63% 18.63%
2014 20.89% 18.94%
2013 20.78% 18.47%
2012 20.65% 18.29%
2011 20.70% 18.26%
2010 20.50% 18.36%
2009 20.12% 18.36%
2008 19.00% 16.70%
2007 18.66% 16.78%
2006 18.90% 16.70%

Renter Fraction in Oldham County Kentucky

You can calculate the renter fraction in Oldham 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 Oldham County as a fraction of total Oldham County households. In 2017 16.47% of households were renters according to Census ACS data.

Oldham 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%
Oldham County KY 16.47% -3.10%

Trends in the Oldham County KY Renter Fraction

The Oldham County household renter fraction peaked in in 2016 at 19.57% and is now 3.10% below that level. The origin year for the series is 2016.

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

Fraction of renters in Oldham County

History of Oldham County Renter Fraction

Date US Kentucky Oldham County KY
2017 36.13% 33.53% 16.47%
2016 36.88% 33.16% 19.57%
2015 36.97% 33.67%
2014 36.90% 33.93%
2013 36.50% 32.62%
2012 36.09% 32.96%
2011 35.42% 31.14%
2010 34.65% 31.35%
2009 34.13% 31.35%
2008 33.36% 30.47%
2007 32.80% 29.28%
2006 32.73% 29.35%

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.