Department of Numbers

Franklin County Ohio Residential Rent and Rental Statistics

The median monthly gross residential rent in Franklin County OH was $927 in 2017 according to the Census ACS survey.1 Average gross rent in Franklin County was $945 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 Franklin County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Franklin County Ohio (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Ohio Median Gross Rent $772 +0.13% +2.52%
Franklin County OH Median Gross Rent $927 +1.87% +5.46%

Franklin County OH Real Gross Rent Trends

At $927, real median gross rent in Franklin County was at its highest level in 2017 since the series began in 2005. At $945, real average gross rent in Franklin County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Franklin County OH Median, Franklin County OH Average, Ohio Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Franklin County

Date US
Median
Ohio
Median
Franklin County OH
Median
Franklin County OH
Average
2017 $1,012 $772 $927 $945
2016 $996 $771 $910 $940
2015 $987 $768 $908 $939
2014 $956 $753 $879 $902
2013 $924 $724 $836 $853
2012 $912 $722 $820 $854
2011 $912 $725 $820 $856
2010 $927 $742 $832 $856
2009 $931 $741 $856 $888
2008 $947 $766 $860 $904
2007 $899 $733 $814 $836
2006 $909 $747 $838 $874

Franklin 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 Franklin County Ohio was 5.57% according to Census ACS data.

Rental Vacancy Rate in Franklin County Ohio

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Ohio 5.62% +0.18% -0.64%
Franklin County OH 5.57% +0.66% -0.70%

Trends in Franklin County OH Rental Vacancy Rate

The rental vacancy rate in Franklin County peaked in 2006 at 14.59%. Since then it has fallen by 9.02% to 5.57%. Data records for this series originated in 2005. From a 2015 post peak low of 4.82%, the rental vacancy rate has increased by 0.75%.

Rental Vacancy Rate: Franklin County OH, Ohio, US

Rental vacancy rate in Ohio

Historical Rental Vacancy Rate data for Franklin County

Date US Ohio Franklin County OH
2017 6.18% 5.62% 5.57%
2016 5.89% 5.44% 4.91%
2015 5.85% 5.56% 4.82%
2014 6.32% 6.26% 6.27%
2013 6.49% 6.15% 5.44%
2012 6.77% 7.08% 7.26%
2011 7.40% 7.89% 7.78%
2010 8.17% 9.45% 10.37%
2009 8.43% 9.17% 11.87%
2008 7.86% 9.68% 12.47%
2007 7.87% 10.00% 13.45%
2006 7.70% 10.68% 14.59%

Rent as a Fraction of Income

Using median household income data for Franklin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Franklin County, median monthly gross rent as a fraction of median household income was 18.78% in 2017 according to the ACS.

Franklin County Ohio Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Ohio 17.15% -0.25% -0.74%
Franklin County OH 18.78% -0.40% -0.58%

Trends in Franklin County OH Rent as a Fraction of Income

The fraction of median Franklin County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.98%. Since then it has fallen by 1.20% to 18.78%.

Fraction of Income towards Rent: Franklin County OH, Ohio, US

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

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

Date US Ohio Franklin County OH
2017 20.13% 17.15% 18.78%
2016 20.43% 17.40% 19.18%
2015 20.63% 17.53% 19.67%
2014 20.89% 17.89% 19.36%
2013 20.78% 17.70% 19.10%
2012 20.65% 17.94% 19.05%
2011 20.70% 18.15% 19.98%
2010 20.50% 18.23% 19.38%
2009 20.12% 17.71% 19.59%
2008 19.00% 16.68% 17.54%
2007 18.66% 16.56% 17.89%
2006 18.90% 16.90% 18.44%

Renter Fraction in Franklin County Ohio

You can calculate the renter fraction in Franklin 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 Franklin County as a fraction of total Franklin County households. In 2017 46.58% of households were renters according to Census ACS data.

Franklin County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Ohio 34.22% -0.42% -0.45%
Franklin County OH 46.58% -1.49% -0.16%

Trends in the Franklin County OH Renter Fraction

The Franklin County household renter fraction peaked in in 2016 at 48.07% and is now 1.49% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Franklin County OH, Ohio, US

Fraction of renters in Franklin County

History of Franklin County Renter Fraction

Date US Ohio Franklin County OH
2017 36.13% 34.22% 46.58%
2016 36.88% 34.64% 48.07%
2015 36.97% 34.59% 47.74%
2014 36.90% 34.67% 46.74%
2013 36.50% 33.93% 45.68%
2012 36.09% 33.71% 46.47%
2011 35.42% 33.02% 46.09%
2010 34.65% 31.60% 44.57%
2009 34.13% 31.95% 43.28%
2008 33.36% 30.95% 41.54%
2007 32.80% 30.32% 40.54%
2006 32.73% 29.99% 41.19%

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.