Data is also available below for Bay City rental vacancy rates, Bay City rent as a percent of median income and the fraction of renters in Bay City.
Show dollars as: Nominal Real
Real Gross Rent in Bay City 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 City, MI Median Gross Rent | $697 | +5.45% | +7.89% |
Bay City, MI Real Gross Rent Trends
Median gross rent for Bay City peaked in real terms in 2012 at $717 and is now $20 (2.79%) lower. Average gross rent for Bay City peaked in real terms in 2012 at $812 and is now $124 (15.27%) lower.
Real Gross Rent in Bay City: Bay City MI Median, Bay City MI Average, Michigan Median, US Median
Real Gross Rent History for Bay City
Date | US Median |
Michigan Median |
Bay City, MI Median |
Bay City, 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 |
2008 | $976 | $836 | $664 | $668 |
2007 | $927 | $802 | $598 | $650 |
2006 | $937 | $829 | $681 | $647 |
2005 | $910 | $819 | $615 | $604 |
Bay City 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 City Michigan was 3.39% according to Census ACS data.
Rental Vacancy Rate in Bay City Michigan
2019 | 1 Year Change | 3 Year Change | |
---|---|---|---|
US | 5.97% | -0.18% | +0.08% |
Michigan | 5.56% | +0.74% | +0.15% |
Bay City, MI | 3.39% | +0.63% | -7.68% |
Trends in Bay City, MI Rental Vacancy Rate
The rental vacancy rate in Bay City 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 City MI, Michigan, US
Historical Rental Vacancy Rate data for Bay City
Date | US | Michigan | Bay City, 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% |
2008 | 7.86% | 9.73% | 10.05% |
2007 | 7.87% | 9.66% | 10.99% |
2006 | 7.70% | 10.42% | — |
2005 | 7.74% | 10.09% | 4.97% |
Rent as a Fraction of Income
Using median household income data for Bay City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bay City, median monthly gross rent as a fraction of median household income was 16.86% in 2019 according to the ACS.
Bay City 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 City, MI | 16.86% | +1.47% | +0.32% |
Trends in Bay City, MI Rent as a Fraction of Income
The fraction of median Bay City 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 City MI, Michigan, US
Historical Data for Annual Rent as a Fraction of Income in Bay City Michigan
Date | US | Michigan | Bay City, 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% |
2008 | 19.00% | 17.44% | 14.66% |
2007 | 18.66% | 17.09% | 14.41% |
2006 | 18.90% | 17.17% | 15.94% |
2005 | 18.89% | 17.07% | 14.27% |
Renter Fraction in Bay City Michigan
You can calculate the renter fraction in Bay City 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 City as a fraction of total Bay City households. In 2019 25.74% of households were renters according to Census ACS data.
Bay City 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 City, MI | 25.74% | +0.90% | +7.05% |
Trends in the Bay City, MI Renter Fraction
At 25.74%, the 2019 household based renter fraction in Bay City was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Bay City MI, Michigan, US
History of Bay City Renter Fraction
Date | US | Michigan | Bay City, 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% |
2008 | 33.36% | 26.02% | 22.79% |
2007 | 32.80% | 25.17% | 20.25% |
2006 | 32.73% | 24.83% | 19.59% |
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. ↩