# Elmira New York Residential Rent and Rental Statistics

The **median monthly gross residential rent in Elmira, NY (the Elmira metro area) was $750 in 2015** according to the Census ACS survey.^{1} **Average gross rent in Elmira was $759 in 2015**. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Elmira median and average rent data will be released in September of 2017.

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

### Real Gross Rent in Elmira New York (2015 dollars)^{2}

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US Median Gross Rent | $959 | +3.12% | +8.24% |

New York Median Gross Rent | $1,173 | +2.62% | +8.41% |

Elmira, NY Median Gross Rent | $750 | -3.10% | +15.56% |

## Elmira, NY Real Gross Rent Trends

Median gross rent for Elmira peaked in real terms in 2014 at $774 and is now $24 (3.10%) lower. Average gross rent for Elmira peaked in real terms in 2014 at $771 and is now $12 (1.56%) lower.

### Real Gross Rent in Elmira: Elmira NY Median, Elmira NY Average, New York Median, US Median

## Real Gross Rent History for Elmira

Date | US Median |
New York Median |
Elmira, NY Median |
Elmira, NY Average |
---|---|---|---|---|

2015 | $959 | $1,173 | $750 | $759 |

2014 | $930 | $1,143 | $774 | $771 |

2013 | $898 | $1,101 | $672 | $715 |

2012 | $886 | $1,082 | $649 | $678 |

2011 | $887 | $1,077 | $698 | $694 |

2010 | $901 | $1,074 | $657 | $642 |

2009 | $905 | $1,057 | $700 | $716 |

2008 | $920 | $1,064 | $702 | $694 |

2007 | $874 | $1,004 | $646 | $670 |

2006 | $883 | $1,013 | $700 | $657 |

2005 | $858 | $991 | $667 | $642 |

## Elmira Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.^{3} **In 2015 the rental vacancy rate for Elmira New York was 2.93%** according to Census ACS data.

### Rental Vacancy Rate in Elmira New York

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 5.85% | -0.47% | -0.92% |

New York | 4.41% | +0.07% | +0.07% |

Elmira, NY | 2.93% | -6.40% | — |

## Trends in Elmira, NY Rental Vacancy Rate

The rental vacancy rate in Elmira peaked in 2014 at 9.33%. Since then it has fallen by 6.40% to 2.93%. Data records for this series originated in 2005.

### Rental Vacancy Rate: Elmira NY, New York, US

## Historical Rental Vacancy Rate data for Elmira

Date | US | New York | Elmira, NY |
---|---|---|---|

2015 | 5.85% | 4.41% | 2.93% |

2014 | 6.32% | 4.34% | 9.33% |

2013 | 6.49% | 4.17% | 4.61% |

2012 | 6.77% | 4.34% | — |

2011 | 7.40% | 4.48% | — |

2010 | 8.17% | 5.03% | — |

2009 | 8.43% | 4.78% | — |

2008 | 7.86% | 4.68% | — |

2007 | 7.87% | 4.70% | 7.57% |

2006 | 7.70% | 4.94% | — |

2005 | 7.74% | 4.80% | — |

## Rent as a Fraction of Income

Using median household income data for Elmira, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. **For Elmira, median monthly gross rent as a fraction of median household income was 16.94% in 2015** according to the ACS.

### Elmira New York Median Annual Rent as a Fraction of Median Household Income

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 20.63% | -0.26% | -0.02% |

New York | 23.13% | -0.27% | +0.19% |

Elmira, NY | 16.94% | -1.64% | +0.06% |

## Trends in Elmira, NY Rent as a Fraction of Income

The fraction of median Elmira household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 18.59%. Since then it has fallen by 1.64% to 16.94%.

### Fraction of Income towards Rent: Elmira NY, New York, US

## Historical Data for Annual Rent as a Fraction of Income in Elmira New York

Date | US | New York | Elmira, NY |
---|---|---|---|

2015 | 20.63% | 23.13% | 16.94% |

2014 | 20.89% | 23.40% | 18.59% |

2013 | 20.78% | 23.20% | 17.96% |

2012 | 20.65% | 22.94% | 16.89% |

2011 | 20.70% | 22.98% | 16.42% |

2010 | 20.50% | 22.60% | 15.72% |

2009 | 20.12% | 21.60% | 17.89% |

2008 | 19.00% | 20.41% | 18.14% |

2007 | 18.66% | 20.34% | 17.56% |

2006 | 18.90% | 20.43% | 18.29% |

2005 | 18.89% | 20.40% | 18.15% |

## Renter Fraction in Elmira New York

You can calculate the renter fraction in Elmira 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 Elmira as a fraction of total Elmira households. **In 2015 28.92% of households were renters** according to Census ACS data.

### Elmira Fraction of Renters by Household Units

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 36.97% | +0.07% | +0.88% |

New York | 46.93% | -0.09% | +0.58% |

Elmira, NY | 28.92% | -2.48% | -0.90% |

## Trends in the Elmira, NY Renter Fraction

The Elmira household renter fraction peaked in in 2011 at 34.26% and is now 5.34% below that level. The origin year for the series is 2005.

### Fraction of Renting Households: Elmira NY, New York, US

## History of Elmira Renter Fraction

Date | US | New York | Elmira, NY |
---|---|---|---|

2015 | 36.97% | 46.93% | 28.92% |

2014 | 36.90% | 47.02% | 31.40% |

2013 | 36.50% | 46.35% | 32.59% |

2012 | 36.09% | 46.35% | 29.82% |

2011 | 35.42% | 46.41% | 34.26% |

2010 | 34.65% | 45.75% | 32.89% |

2009 | 34.13% | 44.97% | 33.66% |

2008 | 33.36% | 44.71% | 30.80% |

2007 | 32.80% | 44.48% | 32.37% |

2006 | 32.73% | 44.40% | 32.69% |

2005 | 33.10% | 44.67% | 32.24% |

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. ↩