Bay County Michigan Residential Rent and Rental Statistics
The median monthly gross residential rent in Bay County MI was $697 in 2019 according to the Census ACS survey.1 Average gross rent in Bay County was $688 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 Bay County median and average rent data will be released in September of 2021.
Data is also available below for Bay County rental vacancy rates, Bay County rent as a percent of median income and the fraction of renters in Bay County.
Real Gross Rent in Bay County Michigan (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Michigan Median Gross Rent | $888 | +1.25% | +3.62% |
| Bay County MI Median Gross Rent | $697 | +5.45% | +7.89% |
Bay County MI Real Gross Rent Trends
Median gross rent for Bay County peaked in real terms in 2012 at $717 and is now $20 (2.79%) lower. Average gross rent for Bay County peaked in real terms in 2012 at $812 and is now $124 (15.27%) lower.
Real Gross Rent: Bay County MI Median, Bay County MI Average, Michigan Median, US Median
Real Gross Rent History for Bay County
| Date | US Median |
Michigan Median |
Bay County MI Median |
Bay County MI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $888 | $697 | $688 |
| 2018 | $1,077 | $877 | $661 | $653 |
| 2017 | $1,043 | $861 | $632 | $649 |
| 2016 | $1,027 | $857 | $646 | $673 |
| 2015 | $1,017 | $852 | $664 | $675 |
| 2014 | $986 | $832 | $683 | $655 |
| 2013 | $953 | $809 | $668 | $618 |
| 2012 | $940 | $796 | $717 | $812 |
| 2011 | $941 | $798 | $652 | $624 |
| 2010 | $955 | $816 | $621 | $657 |
| 2009 | $960 | $816 | $634 | $644 |
| 2007 | $927 | $802 | $598 | $650 |
| 2005 | $910 | $819 | $615 | $604 |
Bay County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Bay County Michigan was 3.39% according to Census ACS data.
Rental Vacancy Rate in Bay County Michigan
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Michigan | 5.56% | +0.74% | +0.15% |
| Bay County MI | 3.39% | +0.63% | -7.68% |
Trends in Bay County MI Rental Vacancy Rate
The rental vacancy rate in Bay County peaked in 2009 at 12.01%. Since then it has fallen by 8.62% to 3.39%. Data records for this series originated in 2005. From a 2018 post peak low of 2.76%, the rental vacancy rate has increased by 0.63%.
Rental Vacancy Rate: Bay County MI, Michigan, US
Historical Rental Vacancy Rate data for Bay County
| Date | US | Michigan | Bay County MI |
|---|---|---|---|
| 2019 | 5.97% | 5.56% | 3.39% |
| 2018 | 6.15% | 4.82% | 2.76% |
| 2017 | 6.18% | 4.87% | 5.71% |
| 2016 | 5.89% | 5.41% | 11.07% |
| 2015 | 5.85% | 5.19% | 3.12% |
| 2014 | 6.32% | 5.88% | — |
| 2013 | 6.49% | 6.04% | 4.16% |
| 2012 | 6.77% | 6.73% | 9.44% |
| 2011 | 7.40% | 7.72% | 7.38% |
| 2010 | 8.17% | 9.60% | 8.26% |
| 2009 | 8.43% | 9.48% | 12.01% |
| 2007 | 7.87% | 9.66% | 10.99% |
| 2005 | 7.74% | 10.09% | 4.97% |
Rent as a Fraction of Income
Using median household income data for Bay County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bay County, median monthly gross rent as a fraction of median household income was 16.86% in 2019 according to the ACS.
Bay County Michigan Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Michigan | 17.88% | -0.34% | -0.82% |
| Bay County MI | 16.86% | +1.47% | +0.32% |
Trends in Bay County MI Rent as a Fraction of Income
The fraction of median Bay County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 18.43%. Since then it has fallen by 1.57% to 16.86%.
Fraction of Income towards Rent: Bay County MI, Michigan, US
Historical Data for Annual Rent as a Fraction of Income in Bay County Michigan
| Date | US | Michigan | Bay County MI |
|---|---|---|---|
| 2019 | 20.03% | 17.88% | 16.86% |
| 2018 | 20.50% | 18.22% | 15.39% |
| 2017 | 20.13% | 18.25% | 16.43% |
| 2016 | 20.43% | 18.70% | 16.54% |
| 2015 | 20.63% | 18.86% | 16.13% |
| 2014 | 20.89% | 18.97% | 16.57% |
| 2013 | 20.78% | 19.09% | 18.43% |
| 2012 | 20.65% | 19.16% | 18.16% |
| 2011 | 20.70% | 19.29% | 16.72% |
| 2010 | 20.50% | 19.29% | 14.68% |
| 2009 | 20.12% | 18.99% | 15.15% |
| 2007 | 18.66% | 17.09% | 14.41% |
| 2005 | 18.89% | 17.07% | 14.27% |
Renter Fraction in Bay County Michigan
You can calculate the renter fraction in Bay 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 Bay County as a fraction of total Bay County households. In 2019 25.74% of households were renters according to Census ACS data.
Bay County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Michigan | 28.43% | -0.38% | -1.25% |
| Bay County MI | 25.74% | +0.90% | +7.05% |
Trends in the Bay County MI Renter Fraction
At 25.74%, the 2019 household based renter fraction in Bay County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Bay County MI, Michigan, US
History of Bay County Renter Fraction
| Date | US | Michigan | Bay County MI |
|---|---|---|---|
| 2019 | 35.89% | 28.43% | 25.74% |
| 2018 | 36.05% | 28.81% | 24.84% |
| 2017 | 36.13% | 28.67% | 24.16% |
| 2016 | 36.88% | 29.68% | 18.69% |
| 2015 | 36.97% | 29.58% | 23.11% |
| 2014 | 36.90% | 29.76% | 21.48% |
| 2013 | 36.50% | 29.45% | 23.54% |
| 2012 | 36.09% | 28.94% | 22.52% |
| 2011 | 35.42% | 28.26% | 20.57% |
| 2010 | 34.65% | 27.25% | 22.09% |
| 2009 | 34.13% | 26.81% | 20.35% |
| 2007 | 32.80% | 25.17% | 20.25% |
| 2005 | 33.10% | 25.33% | 20.01% |
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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