Department of Numbers

Dakota County Minnesota Residential Rent and Rental Statistics

The median monthly gross residential rent in Dakota County MN was $1,140 in 2017 according to the Census ACS survey.1 Average gross rent in Dakota County was $1,159 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 Dakota County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Dakota 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%
Dakota County MN Median Gross Rent $1,140 +5.36% +12.32%

Dakota County MN Real Gross Rent Trends

At $1,140, real median gross rent in Dakota County was at its highest level in 2017 since the series began in 2005. At $1,159, real average gross rent in Dakota County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Dakota County

Date US
Median
Minnesota
Median
Dakota County MN
Median
Dakota County MN
Average
2017 $1,012 $939 $1,140 $1,159
2016 $996 $926 $1,082 $1,085
2015 $987 $914 $1,072 $1,076
2014 $956 $880 $1,015 $1,080
2013 $924 $850 $984 $1,028
2012 $912 $839 $957 $996
2011 $912 $824 $921 $966
2010 $927 $828 $961 $1,004
2009 $931 $837 $994 $1,043
2008 $947 $843 $1,004 $1,048
2007 $899 $810 $984 $1,011
2006 $909 $835 $978 $1,061

Dakota 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 Dakota County Minnesota was 2.55% according to Census ACS data.

Rental Vacancy Rate in Dakota County Minnesota

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Minnesota 4.31% +0.30% -0.22%
Dakota County MN 2.55% -0.52% -3.36%

Trends in Dakota County MN Rental Vacancy Rate

The rental vacancy rate in Dakota County peaked in 2008 at 8.47%. Since then it has fallen by 5.92% to 2.55%. Data records for this series originated in 2005. From a 2012 post peak low of 2.45%, the rental vacancy rate has increased by 0.10%.

Rental Vacancy Rate: Dakota County MN, Minnesota, US

Rental vacancy rate in Minnesota

Historical Rental Vacancy Rate data for Dakota County

Date US Minnesota Dakota County MN
2017 6.18% 4.31% 2.55%
2016 5.89% 4.01% 3.07%
2015 5.85% 4.35% 3.27%
2014 6.32% 4.53% 5.91%
2013 6.49% 3.94% 2.98%
2012 6.77% 4.10% 2.45%
2011 7.40% 5.37% 7.28%
2010 8.17% 5.96% 4.63%
2009 8.43% 5.97% 8.20%
2008 7.86% 5.76% 8.47%
2007 7.87% 7.07% 6.95%
2006 7.70% 8.06% 7.80%

Rent as a Fraction of Income

Using median household income data for Dakota County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Dakota County, median monthly gross rent as a fraction of median household income was 16.92% in 2017 according to the ACS.

Dakota 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%
Dakota County MN 16.92% +0.68% +1.32%

Trends in Dakota County MN Rent as a Fraction of Income

Dakota County renters paid 16.92% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

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

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

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

Date US Minnesota Dakota County MN
2017 20.13% 16.48% 16.92%
2016 20.43% 16.68% 16.25%
2015 20.63% 16.78% 16.20%
2014 20.89% 16.77% 15.60%
2013 20.78% 16.45% 15.73%
2012 20.65% 16.56% 15.60%
2011 20.70% 16.58% 15.09%
2010 20.50% 16.53% 15.31%
2009 20.12% 16.33% 15.51%
2008 19.00% 15.37% 14.60%
2007 18.66% 15.29% 13.92%
2006 18.90% 15.57% 13.97%

Renter Fraction in Dakota County Minnesota

You can calculate the renter fraction in Dakota 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 Dakota County as a fraction of total Dakota County households. In 2017 26.80% of households were renters according to Census ACS data.

Dakota 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%
Dakota County MN 26.80% +0.43% +1.64%

Trends in the Dakota County MN Renter Fraction

At 26.80%, the 2017 household based renter fraction in Dakota County was at its highest level. The origin year for the series is 2005.

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

Fraction of renters in Dakota County

History of Dakota County Renter Fraction

Date US Minnesota Dakota County MN
2017 36.13% 28.43% 26.80%
2016 36.88% 28.70% 26.37%
2015 36.97% 29.06% 26.52%
2014 36.90% 28.31% 25.16%
2013 36.50% 28.45% 26.57%
2012 36.09% 28.56% 26.36%
2011 35.42% 27.24% 23.34%
2010 34.65% 26.98% 24.73%
2009 34.13% 26.29% 22.05%
2008 33.36% 25.34% 21.09%
2007 32.80% 24.76% 20.15%
2006 32.73% 23.70% 20.36%

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.