Department of Numbers

Bay County Michigan Residential Rent and Rental Statistics

The median monthly gross residential rent in Bay County MI was $613 in 2017 according to the Census ACS survey.1 Average gross rent in Bay County was $629 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 Bay County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Bay County Michigan (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Michigan Median Gross Rent $835 +0.48% +3.47%
Bay County MI Median Gross Rent $613 -2.23% -7.40%

Bay County MI Real Gross Rent Trends

Median gross rent for Bay County peaked in real terms in 2012 at $695 and is now $82 (11.80%) lower. Average gross rent for Bay County peaked in real terms in 2012 at $787 and is now $158 (20.08%) lower.

Real Gross Rent: Bay County MI Median, Bay County MI Average, Michigan Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bay County

Date US
Median
Michigan
Median
Bay County MI
Median
Bay County MI
Average
2017 $1,012 $835 $613 $629
2016 $996 $831 $627 $653
2015 $987 $826 $644 $654
2014 $956 $807 $662 $635
2013 $924 $784 $648 $600
2012 $912 $772 $695 $787
2011 $912 $774 $633 $605
2010 $927 $791 $603 $637
2009 $931 $791 $615 $625
2008 $947 $811 $644 $648
2007 $899 $778 $580 $630
2006 $909 $804 $661 $628

Bay 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 Bay County Michigan was 5.71% according to Census ACS data.

Rental Vacancy Rate in Bay County Michigan

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Michigan 4.87% -0.54% -1.01%
Bay County MI 5.71% -5.36%

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 6.30% to 5.71%. Data records for this series originated in 2005. From a 2015 post peak low of 3.12%, the rental vacancy rate has increased by 2.59%.

Rental Vacancy Rate: Bay County MI, Michigan, US

Rental vacancy rate in Michigan

Historical Rental Vacancy Rate data for Bay County

Date US Michigan Bay County MI
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%

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 16.43% in 2017 according to the ACS.

Bay County Michigan Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Michigan 18.25% -0.45% -0.72%
Bay County MI 16.43% -0.11% -0.14%

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 2.00% to 16.43%.

Fraction of Income towards Rent: Bay County MI, Michigan, US

Percent of median household income going towards median monthly gross rent in Bay County Michigan

Historical Data for Annual Rent as a Fraction of Income in Bay County Michigan

Date US Michigan Bay County MI
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%

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 2017 24.16% of households were renters according to Census ACS data.

Bay County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Michigan 28.67% -1.01% -1.09%
Bay County MI 24.16% +5.47% +2.68%

Trends in the Bay County MI Renter Fraction

At 24.16%, the 2017 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

Fraction of renters in Bay County

History of Bay County Renter Fraction

Date US Michigan Bay County MI
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%

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.