Department of Numbers

Monroe County Michigan Residential Rent and Rental Statistics

The median monthly gross residential rent in Monroe County MI was $781 in 2017 according to the Census ACS survey.1 Average gross rent in Monroe County was $752 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 Monroe County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Monroe 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%
Monroe County MI Median Gross Rent $781 -2.01% +2.76%

Monroe County MI Real Gross Rent Trends

Median gross rent for Monroe County peaked in real terms in 2006 at $828 and is now $47 (5.68%) lower. From a recent low of 752.0 in 2015, real median gross rent has now increased by $29 (3.86%). Average gross rent for Monroe County peaked in real terms in 2006 at $823 and is now $71 (8.63%) lower. From a recent low of 684.0 in 2013, real average gross rent has now increased by $68 (9.94%).

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Monroe County

Date US
Median
Michigan
Median
Monroe County MI
Median
Monroe County MI
Average
2017 $1,012 $835 $781 $752
2016 $996 $831 $797 $777
2015 $987 $826 $752 $743
2014 $956 $807 $760 $784
2013 $924 $784 $770 $684
2012 $912 $772 $828 $815
2011 $912 $774 $813 $796
2010 $927 $791 $820 $787
2009 $931 $791 $798 $786
2008 $947 $811 $814 $788
2007 $899 $778 $773 $734
2006 $909 $804 $828 $823

Monroe 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 Monroe County Michigan was 3.91% according to Census ACS data.

Rental Vacancy Rate in Monroe County Michigan

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Michigan 4.87% -0.54% -1.01%
Monroe County MI 3.91% +0.36%

Trends in Monroe County MI Rental Vacancy Rate

The rental vacancy rate in Monroe County peaked in 2013 at 12.61%. Since then it has fallen by 8.70% to 3.91%. Data records for this series originated in 2005. From a 2016 post peak low of 3.55%, the rental vacancy rate has increased by 0.36%.

Rental Vacancy Rate: Monroe County MI, Michigan, US

Rental vacancy rate in Michigan

Historical Rental Vacancy Rate data for Monroe County

Date US Michigan Monroe County MI
2017 6.18% 4.87% 3.91%
2016 5.89% 5.41% 3.55%
2015 5.85% 5.19%
2014 6.32% 5.88%
2013 6.49% 6.04% 12.61%
2012 6.77% 6.73% 8.50%
2011 7.40% 7.72%
2010 8.17% 9.60% 11.27%
2009 8.43% 9.48% 7.76%
2008 7.86% 9.73% 5.60%
2007 7.87% 9.66% 9.46%
2006 7.70% 10.42% 10.96%

Rent as a Fraction of Income

Using median household income data for Monroe County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Monroe County, median monthly gross rent as a fraction of median household income was 15.81% in 2017 according to the ACS.

Monroe 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%
Monroe County MI 15.81% +0.31% +0.26%

Trends in Monroe County MI Rent as a Fraction of Income

The fraction of median Monroe County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 19.02%. Since then it has fallen by 3.21% to 15.81%.

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

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

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

Date US Michigan Monroe County MI
2017 20.13% 18.25% 15.81%
2016 20.43% 18.70% 15.49%
2015 20.63% 18.86% 16.13%
2014 20.89% 18.97% 15.55%
2013 20.78% 19.09% 16.89%
2012 20.65% 19.16% 19.02%
2011 20.70% 19.29% 17.33%
2010 20.50% 19.29% 18.16%
2009 20.12% 18.99% 16.40%
2008 19.00% 17.44% 14.89%
2007 18.66% 17.09% 15.14%
2006 18.90% 17.17% 15.32%

Renter Fraction in Monroe County Michigan

You can calculate the renter fraction in Monroe 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 Monroe County as a fraction of total Monroe County households. In 2017 20.23% of households were renters according to Census ACS data.

Monroe 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%
Monroe County MI 20.23% +0.28% -0.94%

Trends in the Monroe County MI Renter Fraction

The Monroe County household renter fraction peaked in in 2012 at 22.88% and is now 2.65% below that level. The origin year for the series is 2005.

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

Fraction of renters in Monroe County

History of Monroe County Renter Fraction

Date US Michigan Monroe County MI
2017 36.13% 28.67% 20.23%
2016 36.88% 29.68% 19.95%
2015 36.97% 29.58% 19.93%
2014 36.90% 29.76% 21.17%
2013 36.50% 29.45% 21.31%
2012 36.09% 28.94% 22.88%
2011 35.42% 28.26% 20.96%
2010 34.65% 27.25% 21.24%
2009 34.13% 26.81% 19.93%
2008 33.36% 26.02% 20.30%
2007 32.80% 25.17% 19.01%
2006 32.73% 24.83% 18.77%

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.