Department of Numbers

Steuben County New York Residential Rent and Rental Statistics

The median monthly gross residential rent in Steuben County NY was $665 in 2017 according to the Census ACS survey.1 Average gross rent in Steuben County was $639 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 Steuben County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Steuben 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%
Steuben County NY Median Gross Rent $665 -1.92% -6.47%

Steuben County NY Real Gross Rent Trends

Median gross rent for Steuben County peaked in real terms in 2008 at $711 and is now $46 (6.47%) lower. Average gross rent for Steuben County peaked in real terms in 2008 at $729 and is now $90 (12.35%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Steuben County

Date US
Median
New York
Median
Steuben County NY
Median
Steuben County NY
Average
2017 $1,012 $1,226 $665 $639
2016 $996 $1,213 $678 $657
2015 $987 $1,207 $654 $629
2014 $956 $1,175 $711 $718
2013 $924 $1,133 $679 $620
2012 $912 $1,113 $650 $617
2011 $912 $1,108 $634 $629
2010 $927 $1,105 $663 $672
2009 $931 $1,088 $646 $615
2008 $947 $1,095 $711 $729
2007 $899 $1,033 $631 $605
2006 $909 $1,042 $632 $619

Steuben 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 Steuben County New York was 4.56% according to Census ACS data.

Rental Vacancy Rate in Steuben 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%
Steuben County NY 4.56% -1.00% +1.84%

Trends in Steuben County NY Rental Vacancy Rate

The rental vacancy rate in Steuben County peaked in 2015 at 9.44%. Since then it has fallen by 4.88% to 4.56%. Data records for this series originated in 2005.

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

Rental vacancy rate in New York

Historical Rental Vacancy Rate data for Steuben County

Date US New York Steuben County NY
2017 6.18% 4.19% 4.56%
2016 5.89% 4.42% 5.56%
2015 5.85% 4.41% 9.44%
2014 6.32% 4.34% 2.72%
2013 6.49% 4.17%
2012 6.77% 4.34%
2011 7.40% 4.48% 6.71%
2010 8.17% 5.03% 5.96%
2009 8.43% 4.78% 5.24%
2008 7.86% 4.68% 9.19%
2007 7.87% 4.70% 5.40%
2006 7.70% 4.94% 7.44%

Rent as a Fraction of Income

Using median household income data for Steuben County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Steuben County, median monthly gross rent as a fraction of median household income was 15.67% in 2017 according to the ACS.

Steuben 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%
Steuben County NY 15.67% -0.18% -2.09%

Trends in Steuben County NY Rent as a Fraction of Income

The fraction of median Steuben County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 17.76%. Since then it has fallen by 2.09% to 15.67%.

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

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

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

Date US New York Steuben County NY
2017 20.13% 22.67% 15.67%
2016 20.43% 22.78% 15.85%
2015 20.63% 23.13% 16.19%
2014 20.89% 23.40% 17.76%
2013 20.78% 23.20% 16.96%
2012 20.65% 22.94% 16.28%
2011 20.70% 22.98% 16.71%
2010 20.50% 22.60% 15.97%
2009 20.12% 21.60% 16.44%
2008 19.00% 20.41% 17.12%
2007 18.66% 20.34% 16.21%
2006 18.90% 20.43% 15.34%

Renter Fraction in Steuben County New York

You can calculate the renter fraction in Steuben 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 Steuben County as a fraction of total Steuben County households. In 2017 23.97% of households were renters according to Census ACS data.

Steuben 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%
Steuben County NY 23.97% -3.22% -7.64%

Trends in the Steuben County NY Renter Fraction

The Steuben County household renter fraction peaked in in 2014 at 31.61% and is now 7.64% below that level. The origin year for the series is 2005.

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

Fraction of renters in Steuben County

History of Steuben County Renter Fraction

Date US New York Steuben County NY
2017 36.13% 46.20% 23.97%
2016 36.88% 46.72% 27.19%
2015 36.97% 46.93% 30.46%
2014 36.90% 47.02% 31.61%
2013 36.50% 46.35% 28.42%
2012 36.09% 46.35% 30.04%
2011 35.42% 46.41% 30.77%
2010 34.65% 45.75% 27.94%
2009 34.13% 44.97% 26.48%
2008 33.36% 44.71% 27.60%
2007 32.80% 44.48% 27.27%
2006 32.73% 44.40% 26.29%

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.