Wright County Minnesota Residential Rent and Rental Statistics
The median monthly gross residential rent in Wright County MN was $1,093 in 2019 according to the Census ACS survey.1 Average gross rent in Wright County was $1,097 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Wright County median and average rent data will be released in September of 2021.
Data is also available below for Wright County rental vacancy rates, Wright County rent as a percent of median income and the fraction of renters in Wright County.
Real Gross Rent in Wright County Minnesota (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Minnesota Median Gross Rent | $1,016 | +2.94% | +6.39% |
| Wright County MN Median Gross Rent | $1,093 | +13.26% | +14.93% |
Wright County MN Real Gross Rent Trends
At $1,093, real median gross rent in Wright County was at its highest level in 2019 since the series began in 2005. At $1,097, real average gross rent in Wright County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Wright County MN Median, Wright County MN Average, Minnesota Median, US Median
Real Gross Rent History for Wright County
| Date | US Median |
Minnesota Median |
Wright County MN Median |
Wright County MN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,016 | $1,093 | $1,097 |
| 2018 | $1,077 | $987 | $965 | $937 |
| 2017 | $1,043 | $968 | $933 | $950 |
| 2016 | $1,027 | $955 | $951 | $910 |
| 2015 | $1,017 | $942 | $909 | $883 |
| 2014 | $986 | $907 | $950 | $1,009 |
| 2013 | $953 | $876 | $961 | $985 |
| 2012 | $940 | $865 | $979 | $962 |
| 2011 | $941 | $850 | $890 | $882 |
| 2010 | $955 | $854 | $857 | $904 |
| 2009 | $960 | $863 | $964 | $971 |
| 2007 | $927 | $835 | $875 | $918 |
| 2005 | $910 | $865 | $861 | $894 |
Wright 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 Wright County Minnesota was 7.64% according to Census ACS data.
Rental Vacancy Rate in Wright County Minnesota
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Minnesota | 4.76% | +0.21% | +0.75% |
| Wright County MN | — | — | — |
Trends in Wright County MN Rental Vacancy Rate
The rental vacancy rate in Wright County peaked in 2008 at 15.26%. Since then it has fallen by 7.62% to 7.64%. Data records for this series originated in 2005. From a 2012 post peak low of 0.93%, the rental vacancy rate has increased by 6.71%.
Rental Vacancy Rate: Wright County MN, Minnesota, US
Historical Rental Vacancy Rate data for Wright County
| Date | US | Minnesota | Wright County MN |
|---|---|---|---|
| 2019 | 5.97% | 4.76% | — |
| 2018 | 6.15% | 4.55% | — |
| 2017 | 6.18% | 4.31% | 7.64% |
| 2016 | 5.89% | 4.01% | — |
| 2015 | 5.85% | 4.35% | — |
| 2014 | 6.32% | 4.53% | 4.11% |
| 2013 | 6.49% | 3.94% | — |
| 2012 | 6.77% | 4.10% | 0.93% |
| 2011 | 7.40% | 5.37% | 4.67% |
| 2010 | 8.17% | 5.96% | 12.53% |
| 2009 | 8.43% | 5.97% | — |
| 2007 | 7.87% | 7.07% | — |
| 2005 | 7.74% | 8.20% | — |
Rent as a Fraction of Income
Using median household income data for Wright County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wright County, median monthly gross rent as a fraction of median household income was 14.30% in 2019 according to the ACS.
Wright County Minnesota Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Minnesota | 16.34% | -0.19% | -0.34% |
| Wright County MN | 14.30% | +1.43% | -0.38% |
Trends in Wright County MN Rent as a Fraction of Income
The fraction of median Wright County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 15.23%. Since then it has fallen by 0.93% to 14.30%.
Fraction of Income towards Rent: Wright County MN, Minnesota, US
Historical Data for Annual Rent as a Fraction of Income in Wright County Minnesota
| Date | US | Minnesota | Wright County MN |
|---|---|---|---|
| 2019 | 20.03% | 16.34% | 14.30% |
| 2018 | 20.50% | 16.54% | 12.87% |
| 2017 | 20.13% | 16.48% | 13.59% |
| 2016 | 20.43% | 16.68% | 14.69% |
| 2015 | 20.63% | 16.78% | 13.48% |
| 2014 | 20.89% | 16.77% | 13.95% |
| 2013 | 20.78% | 16.45% | 15.23% |
| 2012 | 20.65% | 16.56% | 15.23% |
| 2011 | 20.70% | 16.58% | 14.49% |
| 2010 | 20.50% | 16.53% | 13.77% |
| 2009 | 20.12% | 16.33% | 15.23% |
| 2007 | 18.66% | 15.29% | 13.26% |
| 2005 | 18.89% | 15.96% | 13.87% |
Renter Fraction in Wright County Minnesota
You can calculate the renter fraction in Wright 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 Wright County as a fraction of total Wright County households. In 2019 14.71% of households were renters according to Census ACS data.
Wright County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Minnesota | 28.08% | -0.47% | -0.62% |
| Wright County MN | 14.71% | -6.22% | -3.67% |
Trends in the Wright County MN Renter Fraction
The Wright County household renter fraction peaked in in 2015 at 21.66% and is now 6.95% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Wright County MN, Minnesota, US
History of Wright County Renter Fraction
| Date | US | Minnesota | Wright County MN |
|---|---|---|---|
| 2019 | 35.89% | 28.08% | 14.71% |
| 2018 | 36.05% | 28.55% | 20.93% |
| 2017 | 36.13% | 28.43% | 14.93% |
| 2016 | 36.88% | 28.70% | 18.38% |
| 2015 | 36.97% | 29.06% | 21.66% |
| 2014 | 36.90% | 28.31% | 15.08% |
| 2013 | 36.50% | 28.45% | 16.47% |
| 2012 | 36.09% | 28.56% | 18.43% |
| 2011 | 35.42% | 27.24% | 14.23% |
| 2010 | 34.65% | 26.98% | 14.15% |
| 2009 | 34.13% | 26.29% | 17.54% |
| 2007 | 32.80% | 24.76% | 15.51% |
| 2005 | 33.10% | 24.23% | 17.40% |
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. ↩
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