Department of Numbers

Cayuga County New York Residential Rent and Rental Statistics

The median monthly gross residential rent in Cayuga County NY was $736 in 2017 according to the Census ACS survey.1 Average gross rent in Cayuga County was $683 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 Cayuga County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Cayuga County New York (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
New York Median Gross Rent $1,226 +1.07% +4.34%
Cayuga County NY Median Gross Rent $736 -0.81% +3.23%

Cayuga County NY Real Gross Rent Trends

Median gross rent for Cayuga County peaked in real terms in 2016 at $742 and is now $6 (0.81%) lower. Average gross rent for Cayuga County peaked in real terms in 2015 at $738 and is now $55 (7.45%) lower.

Real Gross Rent: Cayuga County NY Median, Cayuga County NY Average, New York Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cayuga County

Date US
Median
New York
Median
Cayuga County NY
Median
Cayuga County NY
Average
2017 $1,012 $1,226 $736 $683
2016 $996 $1,213 $742 $732
2015 $987 $1,207 $714 $738
2014 $956 $1,175 $713 $667
2013 $924 $1,133 $653 $653
2012 $912 $1,113 $673 $626
2011 $912 $1,108 $626 $567
2010 $927 $1,105 $706 $694
2009 $931 $1,088 $710 $699
2008 $947 $1,095 $698 $685
2007 $899 $1,033 $729 $683
2006 $909 $1,042 $698 $657

Cayuga County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Cayuga County New York was 6.27% according to Census ACS data.

Rental Vacancy Rate in Cayuga County New York

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
New York 4.19% -0.23% -0.15%
Cayuga County NY

Trends in Cayuga County NY Rental Vacancy Rate

The rental vacancy rate in Cayuga County peaked in 2010 at 9.58%. Since then it has fallen by 3.31% to 6.27%. Data records for this series originated in 2005. From a 2014 post peak low of 1.25%, the rental vacancy rate has increased by 5.02%.

Rental Vacancy Rate: Cayuga County NY, New York, US

Rental vacancy rate in New York

Historical Rental Vacancy Rate data for Cayuga County

Date US New York Cayuga County NY
2017 6.18% 4.19%
2016 5.89% 4.42% 6.27%
2015 5.85% 4.41% 7.77%
2014 6.32% 4.34% 1.25%
2013 6.49% 4.17% 1.39%
2012 6.77% 4.34% 4.60%
2011 7.40% 4.48% 3.55%
2010 8.17% 5.03% 9.58%
2009 8.43% 4.78% 2.24%
2008 7.86% 4.68%
2007 7.87% 4.70% 2.50%
2006 7.70% 4.94% 5.39%

Rent as a Fraction of Income

Using median household income data for Cayuga County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cayuga County, median monthly gross rent as a fraction of median household income was 15.60% in 2017 according to the ACS.

Cayuga County New York Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
New York 22.67% -0.10% -0.73%
Cayuga County NY 15.60% -0.35% +0.07%

Trends in Cayuga County NY Rent as a Fraction of Income

The fraction of median Cayuga County household income required to pay median monthly gross rent peaked in 2007 (relative to the 2005 series origin) at 16.84%. Since then it has fallen by 1.24% to 15.60%. From a 2011 low of 14.57%, the fraction of income going to rent has increased by 1.04%.

Fraction of Income towards Rent: Cayuga County NY, New York, US

Percent of median household income going towards median monthly gross rent in Cayuga County New York

Historical Data for Annual Rent as a Fraction of Income in Cayuga County New York

Date US New York Cayuga County NY
2017 20.13% 22.67% 15.60%
2016 20.43% 22.78% 15.95%
2015 20.63% 23.13% 15.67%
2014 20.89% 23.40% 15.53%
2013 20.78% 23.20% 15.29%
2012 20.65% 22.94% 15.63%
2011 20.70% 22.98% 14.57%
2010 20.50% 22.60% 15.90%
2009 20.12% 21.60% 15.55%
2008 19.00% 20.41% 15.04%
2007 18.66% 20.34% 16.84%
2006 18.90% 20.43% 15.58%

Renter Fraction in Cayuga County New York

You can calculate the renter fraction in Cayuga 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 Cayuga County as a fraction of total Cayuga County households. In 2017 27.65% of households were renters according to Census ACS data.

Cayuga County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
New York 46.20% -0.52% -0.82%
Cayuga County NY 27.65% -1.84% -2.57%

Trends in the Cayuga County NY Renter Fraction

The Cayuga County household renter fraction peaked in in 2014 at 30.22% and is now 2.57% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Cayuga County NY, New York, US

Fraction of renters in Cayuga County

History of Cayuga County Renter Fraction

Date US New York Cayuga County NY
2017 36.13% 46.20% 27.65%
2016 36.88% 46.72% 29.49%
2015 36.97% 46.93% 29.76%
2014 36.90% 47.02% 30.22%
2013 36.50% 46.35% 27.81%
2012 36.09% 46.35% 28.50%
2011 35.42% 46.41% 28.50%
2010 34.65% 45.75% 26.14%
2009 34.13% 44.97% 29.54%
2008 33.36% 44.71% 29.20%
2007 32.80% 44.48% 27.07%
2006 32.73% 44.40% 27.68%

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.