Department of Numbers

Chester County Pennsylvania Residential Rent and Rental Statistics

The median monthly gross residential rent in Chester County PA was $1,250 in 2017 according to the Census ACS survey.1 Average gross rent in Chester County was $1,259 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 Chester County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Chester County Pennsylvania (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Pennsylvania Median Gross Rent $893 -0.22% +2.88%
Chester County PA Median Gross Rent $1,250 +1.79% +1.05%

Chester County PA Real Gross Rent Trends

Median gross rent for Chester County peaked in real terms in 2015 at $1,304 and is now $54 (4.14%) lower. Average gross rent for Chester County peaked in real terms in 2015 at $1,329 and is now $70 (5.27%) lower.

Real Gross Rent: Chester County PA Median, Chester County PA Average, Pennsylvania Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Chester County

Date US
Median
Pennsylvania
Median
Chester County PA
Median
Chester County PA
Average
2017 $1,012 $893 $1,250 $1,259
2016 $996 $895 $1,228 $1,239
2015 $987 $893 $1,304 $1,329
2014 $956 $868 $1,237 $1,280
2013 $924 $846 $1,196 $1,249
2012 $912 $823 $1,177 $1,209
2011 $912 $823 $1,172 $1,223
2010 $927 $827 $1,230 $1,237
2009 $931 $816 $1,158 $1,186
2008 $947 $834 $1,241 $1,280
2007 $899 $781 $1,182 $1,194
2006 $909 $791 $1,106 $1,103

Chester 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 Chester County Pennsylvania was 5.26% according to Census ACS data.

Rental Vacancy Rate in Chester County Pennsylvania

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Pennsylvania 5.84% +0.07% -0.56%
Chester County PA 5.26% +0.01% -1.81%

Trends in Chester County PA Rental Vacancy Rate

The rental vacancy rate in Chester County peaked in 2014 at 7.07%. Since then it has fallen by 1.81% to 5.26%. Data records for this series originated in 2005.

Rental Vacancy Rate: Chester County PA, Pennsylvania, US

Rental vacancy rate in Pennsylvania

Historical Rental Vacancy Rate data for Chester County

Date US Pennsylvania Chester County PA
2017 6.18% 5.84% 5.26%
2016 5.89% 5.77% 5.25%
2015 5.85% 5.77% 3.96%
2014 6.32% 6.40% 7.07%
2013 6.49% 5.78% 2.84%
2012 6.77% 5.88% 6.00%
2011 7.40% 6.13% 4.68%
2010 8.17% 6.47% 4.99%
2009 8.43% 6.80% 4.80%
2008 7.86% 6.65% 3.98%
2007 7.87% 7.34% 5.86%
2006 7.70% 8.09% 6.99%

Rent as a Fraction of Income

Using median household income data for Chester County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Chester County, median monthly gross rent as a fraction of median household income was 15.52% in 2017 according to the ACS.

Chester County Pennsylvania Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Pennsylvania 18.10% -0.47% -1.01%
Chester County PA 15.52% -0.18% -1.46%

Trends in Chester County PA Rent as a Fraction of Income

The fraction of median Chester County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 16.98%. Since then it has fallen by 1.46% to 15.52%.

Fraction of Income towards Rent: Chester County PA, Pennsylvania, US

Percent of median household income going towards median monthly gross rent in Chester County Pennsylvania

Historical Data for Annual Rent as a Fraction of Income in Chester County Pennsylvania

Date US Pennsylvania Chester County PA
2017 20.13% 18.10% 15.52%
2016 20.43% 18.58% 15.70%
2015 20.63% 18.70% 16.80%
2014 20.89% 19.12% 16.98%
2013 20.78% 19.11% 16.80%
2012 20.65% 18.69% 16.61%
2011 20.70% 18.78% 16.96%
2010 20.50% 18.58% 16.16%
2009 20.12% 17.88% 15.43%
2008 19.00% 17.18% 15.12%
2007 18.66% 16.92% 14.97%
2006 18.90% 17.22% 14.37%

Renter Fraction in Chester County Pennsylvania

You can calculate the renter fraction in Chester 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 Chester County as a fraction of total Chester County households. In 2017 24.59% of households were renters according to Census ACS data.

Chester County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Pennsylvania 31.70% +0.20% +0.53%
Chester County PA 24.59% -1.32% +0.51%

Trends in the Chester County PA Renter Fraction

The Chester County household renter fraction peaked in in 2011 at 26.76% and is now 2.17% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Chester County PA, Pennsylvania, US

Fraction of renters in Chester County

History of Chester County Renter Fraction

Date US Pennsylvania Chester County PA
2017 36.13% 31.70% 24.59%
2016 36.88% 31.50% 25.91%
2015 36.97% 31.28% 24.34%
2014 36.90% 31.17% 24.08%
2013 36.50% 31.05% 26.01%
2012 36.09% 31.09% 23.88%
2011 35.42% 30.51% 26.76%
2010 34.65% 29.87% 24.25%
2009 34.13% 29.48% 23.14%
2008 33.36% 29.15% 21.42%
2007 32.80% 28.36% 22.72%
2006 32.73% 28.28% 22.08%

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.