Department of Numbers

Rensselaer County New York Residential Rent and Rental Statistics

The median monthly gross residential rent in Rensselaer County NY was $913 in 2017 according to the Census ACS survey.1 Average gross rent in Rensselaer County was $940 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 Rensselaer County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Rensselaer 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%
Rensselaer County NY Median Gross Rent $913 +3.28% -4.80%

Rensselaer County NY Real Gross Rent Trends

Median gross rent for Rensselaer County peaked in real terms in 2014 at $959 and is now $46 (4.80%) lower. At $940, real average gross rent in Rensselaer County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rensselaer County

Date US
Median
New York
Median
Rensselaer County NY
Median
Rensselaer County NY
Average
2017 $1,012 $1,226 $913 $940
2016 $996 $1,213 $884 $892
2015 $987 $1,207 $896 $898
2014 $956 $1,175 $959 $916
2013 $924 $1,133 $842 $854
2012 $912 $1,113 $867 $842
2011 $912 $1,108 $854 $810
2010 $927 $1,105 $863 $889
2009 $931 $1,088 $901 $870
2008 $947 $1,095 $863 $830
2007 $899 $1,033 $818 $804
2006 $909 $1,042 $849 $816

Rensselaer 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 Rensselaer County New York was 5.13% according to Census ACS data.

Rental Vacancy Rate in Rensselaer 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%
Rensselaer County NY 5.13% +2.07% +1.79%

Trends in Rensselaer County NY Rental Vacancy Rate

The rental vacancy rate in Rensselaer County peaked in 2005 at 10.38%. Since then it has fallen by 5.25% to 5.13%. Data records for this series originated in 2005. From a 2013 post peak low of 2.12%, the rental vacancy rate has increased by 3.01%.

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

Rental vacancy rate in New York

Historical Rental Vacancy Rate data for Rensselaer County

Date US New York Rensselaer County NY
2017 6.18% 4.19% 5.13%
2016 5.89% 4.42% 3.06%
2015 5.85% 4.41% 4.00%
2014 6.32% 4.34% 3.34%
2013 6.49% 4.17% 2.12%
2012 6.77% 4.34%
2011 7.40% 4.48% 2.34%
2010 8.17% 5.03%
2009 8.43% 4.78% 7.48%
2008 7.86% 4.68% 4.84%
2007 7.87% 4.70% 5.48%
2006 7.70% 4.94% 6.78%

Rent as a Fraction of Income

Using median household income data for Rensselaer County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rensselaer County, median monthly gross rent as a fraction of median household income was 17.11% in 2017 according to the ACS.

Rensselaer 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%
Rensselaer County NY 17.11% +1.28% -1.19%

Trends in Rensselaer County NY Rent as a Fraction of Income

The fraction of median Rensselaer County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 18.49%. Since then it has fallen by 1.39% to 17.11%. From a 2016 low of 15.83%, the fraction of income going to rent has increased by 1.28%.

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

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

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

Date US New York Rensselaer County NY
2017 20.13% 22.67% 17.11%
2016 20.43% 22.78% 15.83%
2015 20.63% 23.13% 17.19%
2014 20.89% 23.40% 18.30%
2013 20.78% 23.20% 17.22%
2012 20.65% 22.94% 16.62%
2011 20.70% 22.98% 16.59%
2010 20.50% 22.60% 18.49%
2009 20.12% 21.60% 17.57%
2008 19.00% 20.41% 16.36%
2007 18.66% 20.34% 16.94%
2006 18.90% 20.43% 16.14%

Renter Fraction in Rensselaer County New York

You can calculate the renter fraction in Rensselaer 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 Rensselaer County as a fraction of total Rensselaer County households. In 2017 37.06% of households were renters according to Census ACS data.

Rensselaer 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%
Rensselaer County NY 37.06% +0.21% +0.81%

Trends in the Rensselaer County NY Renter Fraction

At 37.06%, the 2017 household based renter fraction in Rensselaer County was at its highest level. The origin year for the series is 2005.

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

Fraction of renters in Rensselaer County

History of Rensselaer County Renter Fraction

Date US New York Rensselaer County NY
2017 36.13% 46.20% 37.06%
2016 36.88% 46.72% 36.85%
2015 36.97% 46.93% 35.52%
2014 36.90% 47.02% 36.25%
2013 36.50% 46.35% 35.33%
2012 36.09% 46.35% 34.86%
2011 35.42% 46.41% 33.60%
2010 34.65% 45.75% 35.57%
2009 34.13% 44.97% 34.92%
2008 33.36% 44.71% 35.63%
2007 32.80% 44.48% 35.02%
2006 32.73% 44.40% 33.55%

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.