Department of Numbers

Canton Ohio Residential Rent and Rental Statistics

The median monthly gross residential rent in Canton, OH (the Canton-Massillon metro area) was $708 in 2016 according to the Census ACS survey.1 Average gross rent in Canton was $687 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Canton median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Canton Ohio (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Ohio Median Gross Rent $759 +0.40% +6.45%
Canton, OH Median Gross Rent $708 +1.72% +7.44%

Canton, OH Real Gross Rent Trends

At $708, real median gross rent in Canton was at its highest level in 2016 since the series began in 2005. Average gross rent for Canton peaked in real terms in 2015 at $694 and is now $7 (1.01%) lower.

Real Gross Rent in Canton: Canton OH Median, Canton OH Average, Ohio Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Canton

Date US
Median
Ohio
Median
Canton, OH
Median
Canton, OH
Average
2016 $981 $759 $708 $687
2015 $972 $756 $696 $694
2014 $942 $741 $689 $657
2013 $910 $713 $659 $649
2012 $898 $711 $664 $641
2011 $898 $714 $668 $646
2010 $912 $731 $678 $666
2009 $916 $729 $674 $660
2008 $932 $754 $691 $689
2007 $885 $721 $649 $625
2006 $895 $735 $674 $670
2005 $869 $732 $679 $632

Canton 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 Canton Ohio was 3.42% according to Census ACS data.

Rental Vacancy Rate in Canton Ohio

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Ohio 5.44% -0.12% -0.71%
Canton, OH 3.42% -0.27% -2.76%

Trends in Canton, OH Rental Vacancy Rate

The rental vacancy rate in Canton peaked in 2010 at 7.39%. Since then it has fallen by 3.97% to 3.42%. Data records for this series originated in 2005.

Rental Vacancy Rate: Canton OH, Ohio, US

Rental vacancy rate in Ohio

Historical Rental Vacancy Rate data for Canton

Date US Ohio Canton, OH
2016 5.89% 5.44% 3.42%
2015 5.85% 5.56% 3.69%
2014 6.32% 6.26% 5.31%
2013 6.49% 6.15% 6.18%
2012 6.77% 7.08% 6.47%
2011 7.40% 7.89% 5.95%
2010 8.17% 9.45% 7.39%
2009 8.43% 9.17% 6.14%
2008 7.86% 9.68% 7.00%
2007 7.87% 10.00% 6.50%
2006 7.70% 10.68% 4.27%
2005 7.74% 10.37% 7.07%

Rent as a Fraction of Income

Using median household income data for Canton, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Canton, median monthly gross rent as a fraction of median household income was 16.72% in 2016 according to the ACS.

Canton Ohio Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Ohio 17.40% -0.12% -0.29%
Canton, OH 16.72% 0.00% -0.68%

Trends in Canton, OH Rent as a Fraction of Income

The fraction of median Canton household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 18.62%. Since then it has fallen by 1.90% to 16.72%.

Fraction of Income towards Rent: Canton OH, Ohio, US

Percent of median household income going towards median monthly gross rent in Canton Ohio

Historical Data for Annual Rent as a Fraction of Income in Canton Ohio

Date US Ohio Canton, OH
2016 20.43% 17.40% 16.72%
2015 20.63% 17.53% 16.72%
2014 20.89% 17.89% 17.17%
2013 20.78% 17.70% 17.40%
2012 20.65% 17.94% 17.38%
2011 20.70% 18.15% 18.62%
2010 20.50% 18.23% 17.99%
2009 20.12% 17.71% 16.87%
2008 19.00% 16.68% 16.48%
2007 18.66% 16.56% 15.46%
2006 18.90% 16.90% 16.41%
2005 18.89% 16.91% 16.31%

Renter Fraction in Canton Ohio

You can calculate the renter fraction in Canton 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 Canton as a fraction of total Canton households. In 2016 30.35% of households were renters according to Census ACS data.

Canton Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Ohio 34.64% +0.05% +0.71%
Canton, OH 30.35% -0.63% +0.01%

Trends in the Canton, OH Renter Fraction

The Canton household renter fraction peaked in in 2014 at 31.77% and is now 1.42% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Canton OH, Ohio, US

Fraction of renters in Canton

History of Canton Renter Fraction

Date US Ohio Canton, OH
2016 36.88% 34.64% 30.35%
2015 36.97% 34.59% 30.98%
2014 36.90% 34.67% 31.77%
2013 36.50% 33.93% 30.34%
2012 36.09% 33.71% 30.76%
2011 35.42% 33.02% 29.82%
2010 34.65% 31.60% 27.54%
2009 34.13% 31.95% 29.90%
2008 33.36% 30.95% 30.24%
2007 32.80% 30.32% 26.96%
2006 32.73% 29.99% 28.19%
2005 33.10% 30.06% 27.63%

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.