Franklin County Massachusetts Residential Rent and Rental Statistics
The median monthly gross residential rent in Franklin County MA was $989 in 2019 according to the Census ACS survey.1 Average gross rent in Franklin County was $931 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Franklin County median and average rent data will be released in September of 2021.
Data is also available below for Franklin County rental vacancy rates, Franklin County rent as a percent of median income and the fraction of renters in Franklin County.
Real Gross Rent in Franklin County Massachusetts (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Massachusetts Median Gross Rent | $1,360 | +3.19% | +10.12% |
| Franklin County MA Median Gross Rent | $989 | +9.28% | +5.10% |
Franklin County MA Real Gross Rent Trends
Median gross rent for Franklin County peaked in real terms in 2015 at $1,083 and is now $94 (8.68%) lower. Average gross rent for Franklin County peaked in real terms in 2015 at $1,007 and is now $76 (7.55%) lower.
Real Gross Rent: Franklin County MA Median, Franklin County MA Average, Massachusetts Median, US Median
Real Gross Rent History for Franklin County
| Date | US Median |
Massachusetts Median |
Franklin County MA Median |
Franklin County MA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,360 | $989 | $931 |
| 2018 | $1,077 | $1,318 | $905 | $916 |
| 2017 | $1,043 | $1,246 | $927 | $828 |
| 2016 | $1,027 | $1,235 | $941 | $924 |
| 2015 | $1,017 | $1,235 | $1,083 | $1,007 |
| 2014 | $986 | $1,169 | $847 | $855 |
| 2013 | $953 | $1,134 | $894 | $842 |
| 2012 | $940 | $1,102 | $821 | $774 |
| 2011 | $941 | $1,117 | $890 | $822 |
| 2010 | $955 | $1,127 | $925 | $837 |
| 2009 | $960 | $1,126 | $911 | $905 |
| 2007 | $927 | $1,111 | $903 | $831 |
| 2005 | $910 | $1,128 | $886 | $819 |
Franklin County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Franklin County Massachusetts was 3.41% according to Census ACS data.
Rental Vacancy Rate in Franklin County Massachusetts
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Massachusetts | 3.06% | -0.53% | -0.92% |
| Franklin County MA | — | — | — |
Trends in Franklin County MA Rental Vacancy Rate
The rental vacancy rate in Franklin County peaked in 2007 at 7.72%. Since then it has fallen by 4.31% to 3.41%. Data records for this series originated in 2005.
Rental Vacancy Rate: Franklin County MA, Massachusetts, US
Historical Rental Vacancy Rate data for Franklin County
| Date | US | Massachusetts | Franklin County MA |
|---|---|---|---|
| 2019 | 5.97% | 3.06% | — |
| 2018 | 6.15% | 3.59% | — |
| 2017 | 6.18% | 3.87% | — |
| 2016 | 5.89% | 3.98% | — |
| 2015 | 5.85% | 3.48% | 3.41% |
| 2014 | 6.32% | 4.04% | 7.17% |
| 2013 | 6.49% | 4.61% | — |
| 2012 | 6.77% | 4.46% | 4.74% |
| 2011 | 7.40% | 4.76% | 6.88% |
| 2010 | 8.17% | 5.80% | — |
| 2009 | 8.43% | 5.83% | — |
| 2007 | 7.87% | 6.20% | 7.72% |
| 2005 | 7.74% | 5.58% | — |
Rent as a Fraction of Income
Using median household income data for Franklin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Franklin County, median monthly gross rent as a fraction of median household income was 19.77% in 2019 according to the ACS.
Franklin County Massachusetts Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Massachusetts | 19.01% | -0.45% | +0.22% |
| Franklin County MA | 19.77% | +1.77% | +0.88% |
Trends in Franklin County MA Rent as a Fraction of Income
The fraction of median Franklin County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 20.90%. Since then it has fallen by 1.13% to 19.77%.
Fraction of Income towards Rent: Franklin County MA, Massachusetts, US
Historical Data for Annual Rent as a Fraction of Income in Franklin County Massachusetts
| Date | US | Massachusetts | Franklin County MA |
|---|---|---|---|
| 2019 | 20.03% | 19.01% | 19.77% |
| 2018 | 20.50% | 19.47% | 18.01% |
| 2017 | 20.13% | 18.73% | 18.34% |
| 2016 | 20.43% | 18.79% | 18.89% |
| 2015 | 20.63% | 19.78% | 20.90% |
| 2014 | 20.89% | 19.21% | 17.32% |
| 2013 | 20.78% | 19.36% | 19.47% |
| 2012 | 20.65% | 19.03% | 16.72% |
| 2011 | 20.70% | 19.74% | 19.63% |
| 2010 | 20.50% | 19.51% | 19.87% |
| 2009 | 20.12% | 18.50% | 19.55% |
| 2007 | 18.66% | 18.20% | 17.65% |
| 2005 | 18.89% | 18.93% | 18.01% |
Renter Fraction in Franklin County Massachusetts
You can calculate the renter fraction in Franklin 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 Franklin County as a fraction of total Franklin County households. In 2019 34.10% of households were renters according to Census ACS data.
Franklin County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Massachusetts | 37.84% | -0.40% | -0.17% |
| Franklin County MA | 34.10% | +5.07% | +2.90% |
Trends in the Franklin County MA Renter Fraction
At 34.10%, the 2019 household based renter fraction in Franklin County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Franklin County MA, Massachusetts, US
History of Franklin County Renter Fraction
| Date | US | Massachusetts | Franklin County MA |
|---|---|---|---|
| 2019 | 35.89% | 37.84% | 34.10% |
| 2018 | 36.05% | 38.24% | 29.03% |
| 2017 | 36.13% | 37.68% | 31.40% |
| 2016 | 36.88% | 38.01% | 31.20% |
| 2015 | 36.97% | 38.28% | 31.24% |
| 2014 | 36.90% | 38.40% | 30.96% |
| 2013 | 36.50% | 38.46% | 30.52% |
| 2012 | 36.09% | 37.76% | 31.97% |
| 2011 | 35.42% | 37.87% | 31.15% |
| 2010 | 34.65% | 37.77% | 32.35% |
| 2009 | 34.13% | 35.79% | 32.81% |
| 2007 | 32.80% | 34.91% | 31.94% |
| 2005 | 33.10% | 35.95% | 32.45% |
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. ↩
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