Department of Numbers

Laredo Texas Residential Rent and Rental Statistics

The median monthly gross residential rent in Laredo, TX (the Laredo metro area) was $785 in 2016 according to the Census ACS survey.1 Average gross rent in Laredo was $783 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Laredo median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Laredo Texas (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Texas Median Gross Rent $956 +1.27% +10.90%
Laredo, TX Median Gross Rent $785 -0.13% +9.79%

Laredo, TX Real Gross Rent Trends

Median gross rent for Laredo peaked in real terms in 2015 at $786 and is now $1 (0.13%) lower. At $783, real average gross rent in Laredo was at its highest level in 2016 since the series began in 2005.

Real Gross Rent in Laredo: Laredo TX Median, Laredo TX Average, Texas Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Laredo

Date US
Median
Texas
Median
Laredo, TX
Median
Laredo, TX
Average
2016 $981 $956 $785 $783
2015 $972 $944 $786 $781
2014 $942 $903 $755 $743
2013 $910 $862 $715 $715
2012 $898 $844 $712 $718
2011 $898 $839 $772 $778
2010 $912 $855 $722 $687
2009 $916 $858 $783 $729
2008 $932 $869 $773 $741
2007 $885 $824 $703 $674
2006 $895 $834 $707 $658
2005 $869 $801 $690 $698

Laredo Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Laredo Texas was 8.45% according to Census ACS data.

Rental Vacancy Rate in Laredo Texas

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Texas 7.65% +0.70% -0.21%
Laredo, TX 8.45% +3.51% +2.65%

Trends in Laredo, TX Rental Vacancy Rate

At 8.45%, Laredo residential rental vacancy rate in 2016 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Laredo TX, Texas, US

Rental vacancy rate in Texas

Historical Rental Vacancy Rate data for Laredo

Date US Texas Laredo, TX
2016 5.89% 7.65% 8.45%
2015 5.85% 6.95% 4.94%
2014 6.32% 7.30% 6.30%
2013 6.49% 7.86% 5.80%
2012 6.77% 8.53% 3.94%
2011 7.40% 9.23%
2010 8.17% 10.60% 3.96%
2009 8.43% 10.69% 5.10%
2008 7.86% 10.24% 5.82%
2007 7.87% 10.61% 6.97%
2006 7.70% 10.28% 7.97%
2005 7.74% 10.60%

Rent as a Fraction of Income

Using median household income data for Laredo, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Laredo, median monthly gross rent as a fraction of median household income was 26.42% in 2016 according to the ACS.

Laredo Texas Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Texas 20.28% +0.19% +0.39%
Laredo, TX 26.42% +3.00% +5.08%

Trends in Laredo, TX Rent as a Fraction of Income

Laredo renters paid 26.42% of median household income towards the median monthly gross rent in 2016. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Laredo TX, Texas, US

Percent of median household income going towards median monthly gross rent in Laredo Texas

Historical Data for Annual Rent as a Fraction of Income in Laredo Texas

Date US Texas Laredo, TX
2016 20.43% 20.28% 26.42%
2015 20.63% 20.10% 23.41%
2014 20.89% 20.27% 23.46%
2013 20.78% 19.89% 21.33%
2012 20.65% 19.65% 22.97%
2011 20.70% 19.75% 24.84%
2010 20.50% 19.77% 22.71%
2009 20.12% 19.59% 22.53%
2008 19.00% 18.42% 22.31%
2007 18.66% 18.52% 22.19%
2006 18.90% 18.99% 21.91%
2005 18.89% 19.11% 21.84%

Renter Fraction in Laredo Texas

You can calculate the renter fraction in Laredo 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 Laredo as a fraction of total Laredo households. In 2016 36.54% of households were renters according to Census ACS data.

Laredo Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Texas 38.91% -0.03% +0.75%
Laredo, TX 36.54% -1.56% +2.18%

Trends in the Laredo, TX Renter Fraction

The Laredo household renter fraction peaked in in 2010 at 40.19% and is now 3.65% below that level. From a recent low of 34.36% in 2013, the household based renter fraction has now grown by 2.18%. The origin year for the series is 2005.

Fraction of Renting Households: Laredo TX, Texas, US

Fraction of renters in Laredo

History of Laredo Renter Fraction

Date US Texas Laredo, TX
2016 36.88% 38.91% 36.54%
2015 36.97% 38.94% 38.10%
2014 36.90% 38.84% 38.78%
2013 36.50% 38.16% 34.36%
2012 36.09% 37.72% 36.69%
2011 35.42% 37.08% 38.17%
2010 34.65% 36.42% 40.19%
2009 34.13% 36.32% 34.53%
2008 33.36% 35.10% 35.06%
2007 32.80% 34.82% 34.93%
2006 32.73% 34.75% 34.80%
2005 33.10% 35.29% 39.06%

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.