Lorain County Ohio Residential Rent and Rental Statistics
The median monthly gross residential rent in Lorain County OH was $750 in 2019 according to the Census ACS survey.1 Average gross rent in Lorain County was $767 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Lorain County median and average rent data will be released in September of 2021.
Data is also available below for Lorain County rental vacancy rates, Lorain County rent as a percent of median income and the fraction of renters in Lorain County.
Real Gross Rent in Lorain County Ohio (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Ohio Median Gross Rent | $813 | +0.25% | +2.26% |
| Lorain County OH Median Gross Rent | $750 | -3.60% | -5.78% |
Lorain County OH Real Gross Rent Trends
Median gross rent for Lorain County peaked in real terms in 2016 at $796 and is now $46 (5.78%) lower. Average gross rent for Lorain County peaked in real terms in 2013 at $836 and is now $69 (8.25%) lower.
Real Gross Rent: Lorain County OH Median, Lorain County OH Average, Ohio Median, US Median
Real Gross Rent History for Lorain County
| Date | US Median |
Ohio Median |
Lorain County OH Median |
Lorain County OH Average |
|---|---|---|---|---|
| 2019 | $1,097 | $813 | $750 | $767 |
| 2018 | $1,077 | $811 | $778 | $766 |
| 2017 | $1,043 | $796 | $736 | $759 |
| 2016 | $1,027 | $795 | $796 | $821 |
| 2015 | $1,017 | $791 | $774 | $795 |
| 2014 | $986 | $776 | $783 | $797 |
| 2013 | $953 | $747 | $794 | $836 |
| 2012 | $940 | $745 | $733 | $747 |
| 2011 | $941 | $747 | $780 | $792 |
| 2010 | $955 | $765 | $775 | $835 |
| 2009 | $960 | $764 | $758 | $747 |
| 2007 | $927 | $755 | $772 | $779 |
| 2005 | $910 | $766 | $756 | $758 |
Lorain County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Lorain County Ohio was 8.79% according to Census ACS data.
Rental Vacancy Rate in Lorain County Ohio
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Ohio | 4.67% | -0.87% | -0.77% |
| Lorain County OH | 8.79% | +1.78% | +2.42% |
Trends in Lorain County OH Rental Vacancy Rate
The rental vacancy rate in Lorain County peaked in 2007 at 9.36%. Since then it has fallen by 0.57% to 8.79%. Data records for this series originated in 2005. From a 2015 post peak low of 3.73%, the rental vacancy rate has increased by 5.06%.
Rental Vacancy Rate: Lorain County OH, Ohio, US
Historical Rental Vacancy Rate data for Lorain County
| Date | US | Ohio | Lorain County OH |
|---|---|---|---|
| 2019 | 5.97% | 4.67% | 8.79% |
| 2018 | 6.15% | 5.54% | 7.01% |
| 2017 | 6.18% | 5.62% | 4.60% |
| 2016 | 5.89% | 5.44% | 6.37% |
| 2015 | 5.85% | 5.56% | 3.73% |
| 2014 | 6.32% | 6.26% | 5.59% |
| 2013 | 6.49% | 6.15% | 4.84% |
| 2012 | 6.77% | 7.08% | — |
| 2011 | 7.40% | 7.89% | 5.71% |
| 2010 | 8.17% | 9.45% | 5.03% |
| 2009 | 8.43% | 9.17% | 6.92% |
| 2007 | 7.87% | 10.00% | 9.36% |
| 2005 | 7.74% | 10.37% | 7.70% |
Rent as a Fraction of Income
Using median household income data for Lorain County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lorain County, median monthly gross rent as a fraction of median household income was 15.34% in 2019 according to the ACS.
Lorain County Ohio Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Ohio | 16.64% | -0.41% | -0.77% |
| Lorain County OH | 15.34% | -0.31% | -1.40% |
Trends in Lorain County OH Rent as a Fraction of Income
The fraction of median Lorain County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 17.95%. Since then it has fallen by 2.61% to 15.34%.
Fraction of Income towards Rent: Lorain County OH, Ohio, US
Historical Data for Annual Rent as a Fraction of Income in Lorain County Ohio
| Date | US | Ohio | Lorain County OH |
|---|---|---|---|
| 2019 | 20.03% | 16.64% | 15.34% |
| 2018 | 20.50% | 17.04% | 15.64% |
| 2017 | 20.13% | 17.15% | 15.60% |
| 2016 | 20.43% | 17.40% | 16.73% |
| 2015 | 20.63% | 17.53% | 16.73% |
| 2014 | 20.89% | 17.89% | 17.10% |
| 2013 | 20.78% | 17.70% | 17.17% |
| 2012 | 20.65% | 17.94% | 16.83% |
| 2011 | 20.70% | 18.15% | 17.95% |
| 2010 | 20.50% | 18.23% | 16.59% |
| 2009 | 20.12% | 17.71% | 16.59% |
| 2007 | 18.66% | 16.56% | 15.54% |
| 2005 | 18.89% | 16.91% | 15.15% |
Renter Fraction in Lorain County Ohio
You can calculate the renter fraction in Lorain 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 Lorain County as a fraction of total Lorain County households. In 2019 26.76% of households were renters according to Census ACS data.
Lorain County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Ohio | 33.96% | -0.17% | -0.68% |
| Lorain County OH | 26.76% | -1.43% | -1.74% |
Trends in the Lorain County OH Renter Fraction
The Lorain County household renter fraction peaked in in 2014 at 30.62% and is now 3.86% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Lorain County OH, Ohio, US
History of Lorain County Renter Fraction
| Date | US | Ohio | Lorain County OH |
|---|---|---|---|
| 2019 | 35.89% | 33.96% | 26.76% |
| 2018 | 36.05% | 34.13% | 28.19% |
| 2017 | 36.13% | 34.22% | 28.01% |
| 2016 | 36.88% | 34.64% | 28.50% |
| 2015 | 36.97% | 34.59% | 28.37% |
| 2014 | 36.90% | 34.67% | 30.62% |
| 2013 | 36.50% | 33.93% | 30.01% |
| 2012 | 36.09% | 33.71% | 27.61% |
| 2011 | 35.42% | 33.02% | 29.53% |
| 2010 | 34.65% | 31.60% | 26.85% |
| 2009 | 34.13% | 31.95% | 29.94% |
| 2007 | 32.80% | 30.32% | 23.70% |
| 2005 | 33.10% | 30.06% | 24.98% |
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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