Payne County Oklahoma Residential Rent and Rental Statistics
The median monthly gross residential rent in Payne County OK was $789 in 2019 according to the Census ACS survey.1 Average gross rent in Payne County was $834 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 Payne County median and average rent data will be released in September of 2021.
Data is also available below for Payne County rental vacancy rates, Payne County rent as a percent of median income and the fraction of renters in Payne County.
Real Gross Rent in Payne County Oklahoma (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Oklahoma Median Gross Rent | $814 | -1.09% | +4.49% |
| Payne County OK Median Gross Rent | $789 | -6.63% | +2.73% |
Payne County OK Real Gross Rent Trends
Median gross rent for Payne County peaked in real terms in 2018 at $845 and is now $56 (6.63%) lower. Average gross rent for Payne County peaked in real terms in 2015 at $896 and is now $62 (6.92%) lower.
Real Gross Rent: Payne County OK Median, Payne County OK Average, Oklahoma Median, US Median
Real Gross Rent History for Payne County
| Date | US Median |
Oklahoma Median |
Payne County OK Median |
Payne County OK Average |
|---|---|---|---|---|
| 2019 | $1,097 | $814 | $789 | $834 |
| 2018 | $1,077 | $823 | $845 | $845 |
| 2017 | $1,043 | $804 | $798 | $839 |
| 2016 | $1,027 | $779 | $768 | $817 |
| 2015 | $1,017 | $805 | $826 | $896 |
| 2014 | $986 | $778 | $788 | $791 |
| 2013 | $953 | $742 | $723 | $758 |
| 2012 | $940 | $730 | $688 | $754 |
| 2011 | $941 | $729 | $774 | $800 |
| 2010 | $955 | $736 | $725 | $742 |
| 2009 | $960 | $725 | $688 | $705 |
| 2007 | $927 | $691 | $671 | $673 |
| 2005 | $910 | $684 | $666 | $680 |
Payne 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 Payne County Oklahoma was 11.50% according to Census ACS data.
Rental Vacancy Rate in Payne County Oklahoma
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Oklahoma | 8.00% | -0.47% | -0.08% |
| Payne County OK | 11.50% | +3.11% | +5.14% |
Trends in Payne County OK Rental Vacancy Rate
The rental vacancy rate in Payne County peaked in 2005 at 23.01%. Since then it has fallen by 11.51% to 11.50%. Data records for this series originated in 2005. From a 2010 post peak low of 2.86%, the rental vacancy rate has increased by 8.64%.
Rental Vacancy Rate: Payne County OK, Oklahoma, US
Historical Rental Vacancy Rate data for Payne County
| Date | US | Oklahoma | Payne County OK |
|---|---|---|---|
| 2019 | 5.97% | 8.00% | 11.50% |
| 2018 | 6.15% | 8.47% | 8.39% |
| 2017 | 6.18% | 8.57% | 7.68% |
| 2016 | 5.89% | 8.08% | 6.36% |
| 2015 | 5.85% | 7.76% | — |
| 2014 | 6.32% | 8.12% | 5.50% |
| 2013 | 6.49% | 8.19% | 3.16% |
| 2012 | 6.77% | 8.16% | — |
| 2011 | 7.40% | 8.52% | 4.68% |
| 2010 | 8.17% | 8.52% | 2.86% |
| 2009 | 8.43% | 8.41% | 4.61% |
| 2007 | 7.87% | 9.33% | — |
| 2005 | 7.74% | 9.97% | 23.01% |
Rent as a Fraction of Income
Using median household income data for Payne County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Payne County, median monthly gross rent as a fraction of median household income was 22.94% in 2019 according to the ACS.
Payne County Oklahoma Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Oklahoma | 17.94% | -0.73% | -0.22% |
| Payne County OK | 22.94% | +2.20% | -1.54% |
Trends in Payne County OK Rent as a Fraction of Income
The fraction of median Payne County household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 25.16%. Since then it has fallen by 2.22% to 22.94%.
Fraction of Income towards Rent: Payne County OK, Oklahoma, US
Historical Data for Annual Rent as a Fraction of Income in Payne County Oklahoma
| Date | US | Oklahoma | Payne County OK |
|---|---|---|---|
| 2019 | 20.03% | 17.94% | 22.94% |
| 2018 | 20.50% | 18.67% | 20.74% |
| 2017 | 20.13% | 18.70% | 25.16% |
| 2016 | 20.43% | 18.16% | 24.48% |
| 2015 | 20.63% | 18.75% | 23.46% |
| 2014 | 20.89% | 18.61% | 23.17% |
| 2013 | 20.78% | 18.52% | 22.84% |
| 2012 | 20.65% | 18.58% | 21.67% |
| 2011 | 20.70% | 18.74% | 24.46% |
| 2010 | 20.50% | 18.80% | 21.95% |
| 2009 | 20.12% | 18.32% | 21.53% |
| 2007 | 18.66% | 16.98% | 21.38% |
| 2005 | 18.89% | 17.71% | 22.09% |
Renter Fraction in Payne County Oklahoma
You can calculate the renter fraction in Payne 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 Payne County as a fraction of total Payne County households. In 2019 46.88% of households were renters according to Census ACS data.
Payne County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Oklahoma | 34.46% | -0.10% | -0.64% |
| Payne County OK | 46.88% | +1.48% | -3.66% |
Trends in the Payne County OK Renter Fraction
The Payne County household renter fraction peaked in in 2013 at 53.50% and is now 6.62% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Payne County OK, Oklahoma, US
History of Payne County Renter Fraction
| Date | US | Oklahoma | Payne County OK |
|---|---|---|---|
| 2019 | 35.89% | 34.46% | 46.88% |
| 2018 | 36.05% | 34.56% | 45.40% |
| 2017 | 36.13% | 34.54% | 49.56% |
| 2016 | 36.88% | 35.10% | 50.54% |
| 2015 | 36.97% | 34.66% | 51.72% |
| 2014 | 36.90% | 34.86% | 49.41% |
| 2013 | 36.50% | 34.46% | 53.50% |
| 2012 | 36.09% | 33.62% | 48.04% |
| 2011 | 35.42% | 32.97% | 47.67% |
| 2010 | 34.65% | 32.21% | 49.84% |
| 2009 | 34.13% | 32.81% | 45.78% |
| 2007 | 32.80% | 31.77% | 45.87% |
| 2005 | 33.10% | 32.13% | 47.68% |
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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