Department of Numbers

Rankin County Mississippi Residential Rent and Rental Statistics

The median monthly gross residential rent in Rankin County MS was $1,068 in 2017 according to the Census ACS survey.1 Average gross rent in Rankin County was $979 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 Rankin County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Rankin County Mississippi (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Mississippi Median Gross Rent $742 +0.41% +1.92%
Rankin County MS Median Gross Rent $1,068 +21.23% +13.86%

Rankin County MS Real Gross Rent Trends

At $1,068, real median gross rent in Rankin County was at its highest level in 2017 since the series began in 2005. At $979, real average gross rent in Rankin County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Rankin County MS Median, Rankin County MS Average, Mississippi Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rankin County

Date US
Median
Mississippi
Median
Rankin County MS
Median
Rankin County MS
Average
2017 $1,012 $742 $1,068 $979
2016 $996 $739 $881 $835
2015 $987 $745 $940 $885
2014 $956 $728 $938 $881
2013 $924 $723 $941 $820
2012 $912 $687 $850 $760
2011 $912 $722 $834 $942
2010 $927 $728 $865 $904
2009 $931 $712 $916 $881
2008 $947 $733 $956 $864
2007 $899 $694 $787 $730
2006 $909 $695 $916 $765

Rankin County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Rankin County Mississippi was 10.36% according to Census ACS data.

Rental Vacancy Rate in Rankin County Mississippi

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Mississippi 10.71% +2.08% +1.61%
Rankin County MS

Trends in Rankin County MS Rental Vacancy Rate

At 10.36%, Rankin County residential rental vacancy rate in 2014 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Rankin County MS, Mississippi, US

Rental vacancy rate in Mississippi

Historical Rental Vacancy Rate data for Rankin County

Date US Mississippi Rankin County MS
2017 6.18% 10.71%
2016 5.89% 8.63%
2015 5.85% 8.89%
2014 6.32% 9.10% 10.36%
2013 6.49% 8.71%
2012 6.77% 10.91% 5.44%
2011 7.40% 13.13%
2010 8.17% 12.60% 6.72%
2009 8.43% 11.34%
2008 7.86% 9.22% 3.70%
2007 7.87% 10.16% 6.01%
2006 7.70% 9.37% 8.20%

Rent as a Fraction of Income

Using median household income data for Rankin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rankin County, median monthly gross rent as a fraction of median household income was 19.40% in 2017 according to the ACS.

Rankin County Mississippi Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Mississippi 20.46% -0.47% -1.05%
Rankin County MS 19.40% +2.69% +0.69%

Trends in Rankin County MS Rent as a Fraction of Income

The fraction of median Rankin County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 20.02%. Since then it has fallen by 0.62% to 19.40%.

Fraction of Income towards Rent: Rankin County MS, Mississippi, US

Percent of median household income going towards median monthly gross rent in Rankin County Mississippi

Historical Data for Annual Rent as a Fraction of Income in Rankin County Mississippi

Date US Mississippi Rankin County MS
2017 20.13% 20.46% 19.40%
2016 20.43% 20.92% 16.71%
2015 20.63% 21.40% 19.07%
2014 20.89% 21.50% 18.71%
2013 20.78% 22.38% 20.02%
2012 20.65% 21.54% 17.52%
2011 20.70% 22.39% 15.55%
2010 20.50% 21.88% 19.43%
2009 20.12% 21.09% 19.06%
2008 19.00% 20.26% 18.00%
2007 18.66% 20.11% 15.77%
2006 18.90% 20.33% 18.63%

Renter Fraction in Rankin County Mississippi

You can calculate the renter fraction in Rankin 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 Rankin County as a fraction of total Rankin County households. In 2017 22.59% of households were renters according to Census ACS data.

Rankin County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Mississippi 31.50% -1.23% -0.83%
Rankin County MS 22.59% -0.74% -1.93%

Trends in the Rankin County MS Renter Fraction

The Rankin County household renter fraction peaked in in 2013 at 27.79% and is now 5.20% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Rankin County MS, Mississippi, US

Fraction of renters in Rankin County

History of Rankin County Renter Fraction

Date US Mississippi Rankin County MS
2017 36.13% 31.50% 22.59%
2016 36.88% 32.73% 23.33%
2015 36.97% 32.61% 27.73%
2014 36.90% 32.33% 24.52%
2013 36.50% 32.80% 27.79%
2012 36.09% 31.81% 26.03%
2011 35.42% 30.19% 20.83%
2010 34.65% 30.24% 26.85%
2009 34.13% 30.51% 24.82%
2008 33.36% 29.91% 24.90%
2007 32.80% 28.71% 20.43%
2006 32.73% 29.31% 26.32%

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.