Department of Numbers

Lapeer County Michigan Residential Rent and Rental Statistics

The median monthly gross residential rent in Lapeer County MI was $682 in 2017 according to the Census ACS survey.1 Average gross rent in Lapeer County was $705 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 Lapeer County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Lapeer 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%
Lapeer County MI Median Gross Rent $682 -18.13% -12.90%

Lapeer County MI Real Gross Rent Trends

Median gross rent for Lapeer County peaked in real terms in 2011 at $858 and is now $176 (20.51%) lower. Average gross rent for Lapeer County peaked in real terms in 2011 at $820 and is now $115 (14.02%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Lapeer County

Date US
Median
Michigan
Median
Lapeer County MI
Median
Lapeer County MI
Average
2017 $1,012 $835 $682 $705
2016 $996 $831 $833 $754
2015 $987 $826 $750 $728
2014 $956 $807 $783 $708
2013 $924 $784 $793 $770
2012 $912 $772 $733 $691
2011 $912 $774 $858 $820
2010 $927 $791 $806 $755
2009 $931 $791 $734 $669
2008 $947 $811 $714 $708
2007 $899 $778 $745 $645
2006 $909 $804 $854 $772

Lapeer 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 Lapeer County Michigan was 10.39% according to Census ACS data.

Rental Vacancy Rate in Lapeer County Michigan

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

Trends in Lapeer County MI Rental Vacancy Rate

The rental vacancy rate in Lapeer County peaked in 2011 at 14.42%. Since then it has fallen by 4.03% to 10.39%. Data records for this series originated in 2005. From a 2013 post peak low of 5.48%, the rental vacancy rate has increased by 4.91%.

Rental Vacancy Rate: Lapeer County MI, Michigan, US

Rental vacancy rate in Michigan

Historical Rental Vacancy Rate data for Lapeer County

Date US Michigan Lapeer County MI
2017 6.18% 4.87%
2016 5.89% 5.41%
2015 5.85% 5.19% 10.39%
2014 6.32% 5.88% 7.97%
2013 6.49% 6.04% 5.48%
2012 6.77% 6.73%
2011 7.40% 7.72% 14.42%
2010 8.17% 9.60% 11.67%
2009 8.43% 9.48% 10.79%
2008 7.86% 9.73%
2007 7.87% 9.66%
2006 7.70% 10.42% 7.54%

Rent as a Fraction of Income

Using median household income data for Lapeer County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lapeer County, median monthly gross rent as a fraction of median household income was 14.65% in 2017 according to the ACS.

Lapeer 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%
Lapeer County MI 14.65% -3.47% -3.40%

Trends in Lapeer County MI Rent as a Fraction of Income

The fraction of median Lapeer County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.98%. Since then it has fallen by 5.34% to 14.65%.

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

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

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

Date US Michigan Lapeer County MI
2017 20.13% 18.25% 14.65%
2016 20.43% 18.70% 18.12%
2015 20.63% 18.86% 15.14%
2014 20.89% 18.97% 18.05%
2013 20.78% 19.09% 17.58%
2012 20.65% 19.16% 16.57%
2011 20.70% 19.29% 19.98%
2010 20.50% 19.29% 18.15%
2009 20.12% 18.99% 15.74%
2008 19.00% 17.44% 14.23%
2007 18.66% 17.09% 13.62%
2006 18.90% 17.17% 15.56%

Renter Fraction in Lapeer County Michigan

You can calculate the renter fraction in Lapeer 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 Lapeer County as a fraction of total Lapeer County households. In 2017 14.05% of households were renters according to Census ACS data.

Lapeer 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%
Lapeer County MI 14.05% -9.72% -3.09%

Trends in the Lapeer County MI Renter Fraction

The Lapeer County household renter fraction peaked in in 2016 at 23.77% and is now 9.72% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Lapeer County MI, Michigan, US

Fraction of renters in Lapeer County

History of Lapeer County Renter Fraction

Date US Michigan Lapeer County MI
2017 36.13% 28.67% 14.05%
2016 36.88% 29.68% 23.77%
2015 36.97% 29.58% 15.53%
2014 36.90% 29.76% 17.14%
2013 36.50% 29.45% 20.93%
2012 36.09% 28.94% 14.66%
2011 35.42% 28.26% 16.22%
2010 34.65% 27.25% 16.09%
2009 34.13% 26.81% 16.01%
2008 33.36% 26.02% 16.11%
2007 32.80% 25.17% 13.77%
2006 32.73% 24.83% 17.56%

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.