Department of Numbers

Wright County Minnesota Residential Rent and Rental Statistics

The median monthly gross residential rent in Wright County MN was $905 in 2017 according to the Census ACS survey.1 Average gross rent in Wright County was $921 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 Wright County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Wright 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%
Wright County MN Median Gross Rent $905 -1.84% -1.84%

Wright County MN Real Gross Rent Trends

Median gross rent for Wright County peaked in real terms in 2012 at $949 and is now $44 (4.64%) lower. Average gross rent for Wright County peaked in real terms in 2014 at $979 and is now $58 (5.92%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Wright County

Date US
Median
Minnesota
Median
Wright County MN
Median
Wright County MN
Average
2017 $1,012 $939 $905 $921
2016 $996 $926 $922 $883
2015 $987 $914 $882 $856
2014 $956 $880 $922 $979
2013 $924 $850 $932 $955
2012 $912 $839 $949 $933
2011 $912 $824 $863 $856
2010 $927 $828 $831 $877
2009 $931 $837 $935 $942
2008 $947 $843 $857 $817
2007 $899 $810 $849 $890
2006 $909 $835 $775 $775

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

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Minnesota 4.31% +0.30% -0.22%
Wright County MN 7.64% +3.53%

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

Rental vacancy rate in Minnesota

Historical Rental Vacancy Rate data for Wright County

Date US Minnesota Wright County MN
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%
2008 7.86% 5.76% 15.26%
2007 7.87% 7.07%
2006 7.70% 8.06%

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 13.59% in 2017 according to the ACS.

Wright 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%
Wright County MN 13.59% -1.10% -0.36%

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 1.65% to 13.59%.

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

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

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

Date US Minnesota Wright County MN
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%
2008 19.00% 15.37% 13.74%
2007 18.66% 15.29% 13.26%
2006 18.90% 15.57% 12.63%

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 2017 14.93% of households were renters according to Census ACS data.

Wright 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%
Wright County MN 14.93% -3.45% -0.15%

Trends in the Wright County MN Renter Fraction

The Wright County household renter fraction peaked in in 2015 at 21.66% and is now 6.73% below that level. The origin year for the series is 2005.

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

Fraction of renters in Wright County

History of Wright County Renter Fraction

Date US Minnesota Wright County MN
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%
2008 33.36% 25.34% 14.53%
2007 32.80% 24.76% 15.51%
2006 32.73% 23.70% 14.08%

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.