Department of Numbers

Payne County Oklahoma Residential Rent and Rental Statistics

The median monthly gross residential rent in Payne County OK was $774 in 2017 according to the Census ACS survey.1 Average gross rent in Payne County was $814 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 Payne County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Payne County Oklahoma (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Oklahoma Median Gross Rent $780 +3.17% +3.31%
Payne County OK Median Gross Rent $774 +4.03% +1.31%

Payne County OK Real Gross Rent Trends

Median gross rent for Payne County peaked in real terms in 2015 at $801 and is now $27 (3.37%) lower. Average gross rent for Payne County peaked in real terms in 2015 at $869 and is now $55 (6.33%) lower.

Real Gross Rent: Payne County OK Median, Payne County OK Average, Oklahoma Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Payne County

Date US
Median
Oklahoma
Median
Payne County OK
Median
Payne County OK
Average
2017 $1,012 $780 $774 $814
2016 $996 $756 $744 $792
2015 $987 $781 $801 $869
2014 $956 $755 $764 $767
2013 $924 $720 $702 $735
2012 $912 $708 $668 $731
2011 $912 $707 $751 $776
2010 $927 $714 $703 $720
2009 $931 $703 $668 $684
2008 $947 $705 $659 $702
2007 $899 $670 $651 $653
2006 $909 $691 $640 $746

Payne 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 Payne County Oklahoma was 7.68% according to Census ACS data.

Rental Vacancy Rate in Payne County Oklahoma

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Oklahoma 8.57% +0.49% +0.45%
Payne County OK 7.68% +1.32% +2.18%

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 15.33% to 7.68%. Data records for this series originated in 2005. From a 2010 post peak low of 2.86%, the rental vacancy rate has increased by 4.82%.

Rental Vacancy Rate: Payne County OK, Oklahoma, US

Rental vacancy rate in Oklahoma

Historical Rental Vacancy Rate data for Payne County

Date US Oklahoma Payne County OK
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%
2008 7.86% 9.18%
2007 7.87% 9.33%
2006 7.70% 10.14% 21.01%

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 25.16% in 2017 according to the ACS.

Payne County Oklahoma Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Oklahoma 18.70% +0.55% +0.09%
Payne County OK 25.16% +0.68% +1.99%

Trends in Payne County OK Rent as a Fraction of Income

Payne County renters paid 25.16% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Payne County OK, Oklahoma, US

Percent of median household income going towards median monthly gross rent in Payne County Oklahoma

Historical Data for Annual Rent as a Fraction of Income in Payne County Oklahoma

Date US Oklahoma Payne County OK
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%
2008 19.00% 17.21% 17.89%
2007 18.66% 16.98% 21.38%
2006 18.90% 17.95% 17.22%

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 2017 49.56% of households were renters according to Census ACS data.

Payne County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Oklahoma 34.54% -0.56% -0.32%
Payne County OK 49.56% -0.98% +0.15%

Trends in the Payne County OK Renter Fraction

The Payne County household renter fraction peaked in in 2013 at 53.50% and is now 3.94% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Payne County OK, Oklahoma, US

Fraction of renters in Payne County

History of Payne County Renter Fraction

Date US Oklahoma Payne County OK
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%
2008 33.36% 32.76% 41.93%
2007 32.80% 31.77% 45.87%
2006 32.73% 31.39% 37.07%

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.