Department of Numbers

Putnam County Tennessee Residential Rent and Rental Statistics

The median monthly gross residential rent in Putnam County TN was $654 in 2017 according to the Census ACS survey.1 Average gross rent in Putnam County was $631 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 Putnam County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Putnam County Tennessee (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Tennessee Median Gross Rent $833 +1.71% +5.71%
Putnam County TN Median Gross Rent $654 +3.81% +2.19%

Putnam County TN Real Gross Rent Trends

Median gross rent for Putnam County peaked in real terms in 2015 at $720 and is now $66 (9.17%) lower. Average gross rent for Putnam County peaked in real terms in 2015 at $684 and is now $53 (7.75%) lower.

Real Gross Rent: Putnam County TN Median, Putnam County TN Average, Tennessee Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Putnam County

Date US
Median
Tennessee
Median
Putnam County TN
Median
Putnam County TN
Average
2017 $1,012 $833 $654 $631
2016 $996 $819 $630 $626
2015 $987 $808 $720 $684
2014 $956 $788 $640 $672
2013 $924 $764 $629 $582
2012 $912 $753 $574 $562
2011 $912 $749 $571 $550
2010 $927 $755 $621 $593
2009 $931 $754 $629 $591
2008 $947 $758 $610 $613
2007 $899 $722 $665 $602
2006 $909 $730 $587 $623

Putnam 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 Putnam County Tennessee was 5.40% according to Census ACS data.

Rental Vacancy Rate in Putnam County Tennessee

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Tennessee 6.67% -0.01% -0.57%
Putnam County TN 5.40%

Trends in Putnam County TN Rental Vacancy Rate

The rental vacancy rate in Putnam County peaked in 2008 at 17.06%. Since then it has fallen by 11.66% to 5.40%. Data records for this series originated in 2005. From a 2011 post peak low of 5.07%, the rental vacancy rate has increased by 0.33%.

Rental Vacancy Rate: Putnam County TN, Tennessee, US

Rental vacancy rate in Tennessee

Historical Rental Vacancy Rate data for Putnam County

Date US Tennessee Putnam County TN
2017 6.18% 6.67% 5.40%
2016 5.89% 6.68%
2015 5.85% 7.13%
2014 6.32% 7.24%
2013 6.49% 7.86%
2012 6.77% 7.89%
2011 7.40% 8.54% 5.07%
2010 8.17% 10.33%
2009 8.43% 10.52%
2008 7.86% 10.30% 17.06%
2007 7.87% 9.20%
2006 7.70% 9.61%

Rent as a Fraction of Income

Using median household income data for Putnam County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Putnam County, median monthly gross rent as a fraction of median household income was 19.79% in 2017 according to the ACS.

Putnam County Tennessee Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Tennessee 19.47% -0.45% -1.36%
Putnam County TN 19.79% -0.08% -1.32%

Trends in Putnam County TN Rent as a Fraction of Income

The fraction of median Putnam County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 23.51%. Since then it has fallen by 3.71% to 19.79%.

Fraction of Income towards Rent: Putnam County TN, Tennessee, US

Percent of median household income going towards median monthly gross rent in Putnam County Tennessee

Historical Data for Annual Rent as a Fraction of Income in Putnam County Tennessee

Date US Tennessee Putnam County TN
2017 20.13% 19.47% 19.79%
2016 20.43% 19.92% 19.87%
2015 20.63% 19.93% 20.68%
2014 20.89% 20.83% 21.12%
2013 20.78% 20.26% 23.51%
2012 20.65% 20.48% 21.14%
2011 20.70% 20.58% 19.89%
2010 20.50% 20.17% 20.85%
2009 20.12% 19.61% 22.04%
2008 19.00% 18.16% 17.98%
2007 18.66% 17.96% 19.98%
2006 18.90% 18.25% 16.84%

Renter Fraction in Putnam County Tennessee

You can calculate the renter fraction in Putnam 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 Putnam County as a fraction of total Putnam County households. In 2017 40.98% of households were renters according to Census ACS data.

Putnam County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Tennessee 34.57% -0.34% +0.71%
Putnam County TN 40.98% +2.84% +2.28%

Trends in the Putnam County TN Renter Fraction

At 40.98%, the 2017 household based renter fraction in Putnam County was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Putnam County TN, Tennessee, US

Fraction of renters in Putnam County

History of Putnam County Renter Fraction

Date US Tennessee Putnam County TN
2017 36.13% 34.57% 40.98%
2016 36.88% 34.91% 38.14%
2015 36.97% 34.18% 36.47%
2014 36.90% 33.86% 38.70%
2013 36.50% 33.62% 40.62%
2012 36.09% 33.31% 36.16%
2011 35.42% 32.72% 36.59%
2010 34.65% 31.87% 38.68%
2009 34.13% 30.85% 31.15%
2008 33.36% 30.17% 34.06%
2007 32.80% 30.06% 34.71%
2006 32.73% 30.10% 38.92%

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.