Department of Numbers

Carver County Minnesota Residential Rent and Rental Statistics

The median monthly gross residential rent in Carver County MN was $1,121 in 2017 according to the Census ACS survey.1 Average gross rent in Carver County was $1,162 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 Carver County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Carver County Minnesota (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Minnesota Median Gross Rent $939 +1.40% +6.70%
Carver County MN Median Gross Rent $1,121 +11.54% +17.63%

Carver County MN Real Gross Rent Trends

At $1,121, real median gross rent in Carver County was at its highest level in 2017 since the series began in 2005. At $1,162, real average gross rent in Carver County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Carver County MN Median, Carver County MN Average, Minnesota Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Carver County

Date US
Median
Minnesota
Median
Carver County MN
Median
Carver County MN
Average
2017 $1,012 $939 $1,121 $1,162
2016 $996 $926 $1,005 $1,053
2015 $987 $914 $1,011 $1,092
2014 $956 $880 $953 $974
2013 $924 $850 $1,005 $1,042
2012 $912 $839 $923 $958
2011 $912 $824 $949 $1,055
2010 $927 $828 $932 $945
2009 $931 $837 $966 $929
2008 $947 $843 $1,009 $965
2007 $899 $810 $921 $834
2006 $909 $835 $1,060 $1,059

Carver 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 Carver County Minnesota was 5.85% according to Census ACS data.

Rental Vacancy Rate in Carver County Minnesota

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Minnesota 4.31% +0.30% -0.22%
Carver County MN 5.85%

Trends in Carver County MN Rental Vacancy Rate

At 5.85%, Carver County residential rental vacancy rate in 2017 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Carver County MN, Minnesota, US

Rental vacancy rate in Minnesota

Historical Rental Vacancy Rate data for Carver County

Date US Minnesota Carver County MN
2017 6.18% 4.31% 5.85%
2016 5.89% 4.01%
2015 5.85% 4.35% 0.00%
2014 6.32% 4.53%
2013 6.49% 3.94%
2012 6.77% 4.10%
2011 7.40% 5.37%
2010 8.17% 5.96%
2009 8.43% 5.97%
2008 7.86% 5.76%
2007 7.87% 7.07%
2006 7.70% 8.06%

Rent as a Fraction of Income

Using median household income data for Carver County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Carver County, median monthly gross rent as a fraction of median household income was 13.28% in 2017 according to the ACS.

Carver County Minnesota Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Minnesota 16.48% -0.21% -0.29%
Carver County MN 13.28% +0.43% -0.08%

Trends in Carver County MN Rent as a Fraction of Income

The fraction of median Carver County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 14.43%. Since then it has fallen by 1.15% to 13.28%.

Fraction of Income towards Rent: Carver County MN, Minnesota, US

Percent of median household income going towards median monthly gross rent in Carver County Minnesota

Historical Data for Annual Rent as a Fraction of Income in Carver County Minnesota

Date US Minnesota Carver County MN
2017 20.13% 16.48% 13.28%
2016 20.43% 16.68% 12.85%
2015 20.63% 16.78% 12.73%
2014 20.89% 16.77% 13.36%
2013 20.78% 16.45% 14.34%
2012 20.65% 16.56% 12.91%
2011 20.70% 16.58% 13.04%
2010 20.50% 16.53% 12.87%
2009 20.12% 16.33% 14.43%
2008 19.00% 15.37% 12.70%
2007 18.66% 15.29% 12.28%
2006 18.90% 15.57% 14.08%

Renter Fraction in Carver County Minnesota

You can calculate the renter fraction in Carver 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 Carver County as a fraction of total Carver County households. In 2017 15.17% of households were renters according to Census ACS data.

Carver County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Minnesota 28.43% -0.27% +0.12%
Carver County MN 15.17% -5.52% -4.31%

Trends in the Carver County MN Renter Fraction

The Carver County household renter fraction peaked in in 2012 at 21.85% and is now 6.68% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Carver County MN, Minnesota, US

Fraction of renters in Carver County

History of Carver County Renter Fraction

Date US Minnesota Carver County MN
2017 36.13% 28.43% 15.17%
2016 36.88% 28.70% 20.69%
2015 36.97% 29.06% 19.99%
2014 36.90% 28.31% 19.48%
2013 36.50% 28.45% 19.15%
2012 36.09% 28.56% 21.85%
2011 35.42% 27.24% 16.51%
2010 34.65% 26.98% 17.46%
2009 34.13% 26.29% 17.96%
2008 33.36% 25.34% 16.26%
2007 32.80% 24.76% 16.58%
2006 32.73% 23.70% 14.73%

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.