Putnam County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Putnam County NY was $1,479 in 2017 according to the Census ACS survey.1 Average gross rent in Putnam County was $1,442 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 Putnam County median and average rent data will be released in September of 2019.
Data is also available below for Putnam County rental vacancy rates, Putnam County rent as a percent of median income and the fraction of renters in Putnam County.
Real Gross Rent in Putnam 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% |
| Putnam County NY Median Gross Rent | $1,479 | +3.94% | +17.75% |
Putnam County NY Real Gross Rent Trends
Median gross rent for Putnam County peaked in real terms in 2008 at $1,490 and is now $11 (0.74%) lower. From a recent low of 1210.0 in 2011, real median gross rent has now increased by $269 (22.23%). Average gross rent for Putnam County peaked in real terms in 2016 at $1,453 and is now $11 (0.76%) lower.
Real Gross Rent: Putnam County NY Median, Putnam County NY Average, New York Median, US Median
Real Gross Rent History for Putnam County
| Date | US Median |
New York Median |
Putnam County NY Median |
Putnam County NY Average |
|---|---|---|---|---|
| 2017 | $1,012 | $1,226 | $1,479 | $1,442 |
| 2016 | $996 | $1,213 | $1,423 | $1,453 |
| 2015 | $987 | $1,207 | $1,259 | $1,344 |
| 2014 | $956 | $1,175 | $1,256 | $1,318 |
| 2013 | $924 | $1,133 | $1,254 | $1,218 |
| 2012 | $912 | $1,113 | $1,290 | $1,186 |
| 2011 | $912 | $1,108 | $1,210 | $1,244 |
| 2010 | $927 | $1,105 | $1,267 | $1,261 |
| 2009 | $931 | $1,088 | $1,362 | $1,232 |
| 2008 | $947 | $1,095 | $1,490 | $1,393 |
| 2007 | $899 | $1,033 | $1,352 | $1,413 |
| 2006 | $909 | $1,042 | $1,266 | $1,270 |
Historical Rental Vacancy Rate data for Putnam County
| Date | US | New York | Putnam County NY |
|---|---|---|---|
| 2017 | 6.18% | 4.19% | — |
| 2016 | 5.89% | 4.42% | — |
| 2015 | 5.85% | 4.41% | — |
| 2014 | 6.32% | 4.34% | — |
| 2013 | 6.49% | 4.17% | — |
| 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% | 8.95% |
| 2006 | 7.70% | 4.94% | — |
Rent as a Fraction of Income
Using median household income data for Putnam County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Putnam County, median monthly gross rent as a fraction of median household income was 17.84% in 2017 according to the ACS.
Putnam 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% |
| Putnam County NY | 17.84% | +0.51% | +2.74% |
Trends in Putnam County NY Rent as a Fraction of Income
The fraction of median Putnam County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 18.00%. Since then it has fallen by 0.16% to 17.84%. From a 2014 low of 15.10%, the fraction of income going to rent has increased by 2.74%.
Fraction of Income towards Rent: Putnam County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Putnam County New York
| Date | US | New York | Putnam County NY |
|---|---|---|---|
| 2017 | 20.13% | 22.67% | 17.84% |
| 2016 | 20.43% | 22.78% | 17.33% |
| 2015 | 20.63% | 23.13% | 16.22% |
| 2014 | 20.89% | 23.40% | 15.10% |
| 2013 | 20.78% | 23.20% | 15.72% |
| 2012 | 20.65% | 22.94% | 15.59% |
| 2011 | 20.70% | 22.98% | 15.28% |
| 2010 | 20.50% | 22.60% | 17.27% |
| 2009 | 20.12% | 21.60% | 18.00% |
| 2008 | 19.00% | 20.41% | 17.31% |
| 2007 | 18.66% | 20.34% | 16.83% |
| 2006 | 18.90% | 20.43% | 15.57% |
Renter Fraction in Putnam County New York
You can calculate the renter fraction in Putnam 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 Putnam County as a fraction of total Putnam County households. In 2017 16.62% of households were renters according to Census ACS data.
Putnam 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% |
| Putnam County NY | 16.62% | -4.85% | -2.01% |
Trends in the Putnam County NY Renter Fraction
The Putnam County household renter fraction peaked in in 2016 at 21.47% and is now 4.85% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Putnam County NY, New York, US
History of Putnam County Renter Fraction
| Date | US | New York | Putnam County NY |
|---|---|---|---|
| 2017 | 36.13% | 46.20% | 16.62% |
| 2016 | 36.88% | 46.72% | 21.47% |
| 2015 | 36.97% | 46.93% | 19.67% |
| 2014 | 36.90% | 47.02% | 18.63% |
| 2013 | 36.50% | 46.35% | 17.48% |
| 2012 | 36.09% | 46.35% | 16.07% |
| 2011 | 35.42% | 46.41% | 18.46% |
| 2010 | 34.65% | 45.75% | 15.27% |
| 2009 | 34.13% | 44.97% | 19.74% |
| 2008 | 33.36% | 44.71% | 15.73% |
| 2007 | 32.80% | 44.48% | 14.08% |
| 2006 | 32.73% | 44.40% | 16.14% |
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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