Department of Numbers

Summit County Ohio Residential Rent and Rental Statistics

The median monthly gross residential rent in Summit County OH was $795 in 2017 according to the Census ACS survey.1 Average gross rent in Summit County was $799 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 Summit County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Summit 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%
Summit County OH Median Gross Rent $795 -3.64% +4.33%

Summit County OH Real Gross Rent Trends

Median gross rent for Summit County peaked in real terms in 2006 at $832 and is now $37 (4.45%) lower. From a recent low of 736.0 in 2013, real median gross rent has now increased by $59 (8.02%). Average gross rent for Summit County peaked in real terms in 2016 at $853 and is now $54 (6.33%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Summit County

Date US
Median
Ohio
Median
Summit County OH
Median
Summit County OH
Average
2017 $1,012 $772 $795 $799
2016 $996 $771 $825 $853
2015 $987 $768 $761 $766
2014 $956 $753 $762 $773
2013 $924 $724 $736 $756
2012 $912 $722 $745 $752
2011 $912 $725 $746 $765
2010 $927 $742 $754 $761
2009 $931 $741 $781 $777
2008 $947 $766 $802 $790
2007 $899 $733 $799 $765
2006 $909 $747 $832 $793

Summit 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 Summit County Ohio was 2.98% according to Census ACS data.

Rental Vacancy Rate in Summit County Ohio

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Ohio 5.62% +0.18% -0.64%
Summit County OH 2.98% -2.94% -3.14%

Trends in Summit County OH Rental Vacancy Rate

The rental vacancy rate in Summit County peaked in 2005 at 12.37%. Since then it has fallen by 9.39% to 2.98%. Data records for this series originated in 2005.

Rental Vacancy Rate: Summit County OH, Ohio, US

Rental vacancy rate in Ohio

Historical Rental Vacancy Rate data for Summit County

Date US Ohio Summit County OH
2017 6.18% 5.62% 2.98%
2016 5.89% 5.44% 5.92%
2015 5.85% 5.56% 7.46%
2014 6.32% 6.26% 6.12%
2013 6.49% 6.15% 8.06%
2012 6.77% 7.08% 7.10%
2011 7.40% 7.89% 10.67%
2010 8.17% 9.45% 10.22%
2009 8.43% 9.17% 8.90%
2008 7.86% 9.68% 10.44%
2007 7.87% 10.00% 10.37%
2006 7.70% 10.68% 10.16%

Rent as a Fraction of Income

Using median household income data for Summit County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Summit County, median monthly gross rent as a fraction of median household income was 17.21% in 2017 according to the ACS.

Summit 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%
Summit County OH 17.21% -1.51% -0.51%

Trends in Summit County OH Rent as a Fraction of Income

The fraction of median Summit County household income required to pay median monthly gross rent peaked in 2006 (relative to the 2005 series origin) at 18.75%. Since then it has fallen by 1.53% to 17.21%. From a 2008 low of 16.95%, the fraction of income going to rent has increased by 0.26%.

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

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

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

Date US Ohio Summit County OH
2017 20.13% 17.15% 17.21%
2016 20.43% 17.40% 18.73%
2015 20.63% 17.53% 17.31%
2014 20.89% 17.89% 17.73%
2013 20.78% 17.70% 17.57%
2012 20.65% 17.94% 17.75%
2011 20.70% 18.15% 18.40%
2010 20.50% 18.23% 18.32%
2009 20.12% 17.71% 18.06%
2008 19.00% 16.68% 16.95%
2007 18.66% 16.56% 17.77%
2006 18.90% 16.90% 18.75%

Renter Fraction in Summit County Ohio

You can calculate the renter fraction in Summit 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 Summit County as a fraction of total Summit County households. In 2017 33.92% of households were renters according to Census ACS data.

Summit 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%
Summit County OH 33.92% -1.26% -1.12%

Trends in the Summit County OH Renter Fraction

The Summit County household renter fraction peaked in in 2016 at 35.18% and is now 1.26% below that level. The origin year for the series is 2005.

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

Fraction of renters in Summit County

History of Summit County Renter Fraction

Date US Ohio Summit County OH
2017 36.13% 34.22% 33.92%
2016 36.88% 34.64% 35.18%
2015 36.97% 34.59% 35.15%
2014 36.90% 34.67% 35.04%
2013 36.50% 33.93% 34.58%
2012 36.09% 33.71% 33.53%
2011 35.42% 33.02% 32.52%
2010 34.65% 31.60% 30.95%
2009 34.13% 31.95% 31.15%
2008 33.36% 30.95% 31.42%
2007 32.80% 30.32% 30.20%
2006 32.73% 29.99% 29.99%

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.