Ames Iowa Residential Rent and Rental Statistics
The median monthly gross residential rent in Ames, IA (the Ames metro area) was $901 in 2019 according to the Census ACS survey.1 Average gross rent in Ames was $960 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 Ames median and average rent data will be released in September of 2021.
Data is also available below for Ames rental vacancy rates, Ames rent as a percent of median income and the fraction of renters in Ames.
Real Gross Rent in Ames Iowa (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Iowa Median Gross Rent | $808 | +2.15% | +4.12% |
| Ames, IA Median Gross Rent | $901 | +1.58% | -0.77% |
Ames, IA Real Gross Rent Trends
Median gross rent for Ames peaked in real terms in 2017 at $913 and is now $12 (1.31%) lower. Average gross rent for Ames peaked in real terms in 2017 at $986 and is now $26 (2.64%) lower.
Real Gross Rent in Ames: Ames IA Median, Ames IA Average, Iowa Median, US Median
Real Gross Rent History for Ames
| Date | US Median |
Iowa Median |
Ames, IA Median |
Ames, IA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $808 | $901 | $960 |
| 2018 | $1,077 | $791 | $887 | $937 |
| 2017 | $1,043 | $784 | $913 | $986 |
| 2016 | $1,027 | $776 | $908 | $972 |
| 2015 | $1,017 | $762 | $883 | $897 |
| 2014 | $986 | $751 | $841 | $888 |
| 2013 | $953 | $715 | $798 | $857 |
| 2012 | $940 | $703 | $756 | $780 |
| 2011 | $941 | $694 | $707 | $742 |
| 2010 | $955 | $703 | $767 | $834 |
| 2009 | $960 | $696 | $777 | $853 |
| 2007 | $927 | $666 | $785 | $807 |
| 2005 | $910 | $699 | $824 | $861 |
Historical Rental Vacancy Rate data for Ames
| Date | US | Iowa | Ames, IA |
|---|---|---|---|
| 2019 | 5.97% | 6.21% | — |
| 2018 | 6.15% | 6.88% | — |
| 2017 | 6.18% | 7.31% | — |
| 2016 | 5.89% | 6.24% | — |
| 2015 | 5.85% | 6.41% | — |
| 2014 | 6.32% | 5.47% | — |
| 2013 | 6.49% | 6.03% | — |
| 2012 | 6.77% | 6.77% | 4.48% |
| 2011 | 7.40% | 6.64% | — |
| 2010 | 8.17% | 6.38% | — |
| 2009 | 8.43% | 5.97% | — |
| 2007 | 7.87% | 7.54% | — |
| 2005 | 7.74% | 7.17% | — |
Rent as a Fraction of Income
Using median household income data for Ames, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Ames, median monthly gross rent as a fraction of median household income was 17.39% in 2019 according to the ACS.
Ames Iowa Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Iowa | 15.72% | +0.17% | -0.09% |
| Ames, IA | 17.39% | -1.76% | -2.11% |
Trends in Ames, IA Rent as a Fraction of Income
The fraction of median Ames household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.75%. Since then it has fallen by 3.36% to 17.39%.
Fraction of Income towards Rent: Ames IA, Iowa, US
Historical Data for Annual Rent as a Fraction of Income in Ames Iowa
| Date | US | Iowa | Ames, IA |
|---|---|---|---|
| 2019 | 20.03% | 15.72% | 17.39% |
| 2018 | 20.50% | 15.55% | 19.15% |
| 2017 | 20.13% | 15.57% | 17.60% |
| 2016 | 20.43% | 15.81% | 19.49% |
| 2015 | 20.63% | 15.74% | 19.65% |
| 2014 | 20.89% | 15.88% | 20.75% |
| 2013 | 20.78% | 15.60% | 18.09% |
| 2012 | 20.65% | 15.57% | 17.24% |
| 2011 | 20.70% | 15.61% | 17.14% |
| 2010 | 20.50% | 15.74% | 17.14% |
| 2009 | 20.12% | 15.26% | 17.98% |
| 2007 | 18.66% | 14.39% | 16.76% |
| 2005 | 18.89% | 15.38% | 19.54% |
Renter Fraction in Ames Iowa
You can calculate the renter fraction in Ames 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 Ames as a fraction of total Ames households. In 2019 38.71% of households were renters according to Census ACS data.
Ames Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Iowa | 29.47% | +0.75% | +0.10% |
| Ames, IA | 38.71% | -6.09% | -9.54% |
Trends in the Ames, IA Renter Fraction
The Ames household renter fraction peaked in in 2013 at 48.44% and is now 9.73% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Ames IA, Iowa, US
History of Ames Renter Fraction
| Date | US | Iowa | Ames, IA |
|---|---|---|---|
| 2019 | 35.89% | 29.47% | 38.71% |
| 2018 | 36.05% | 28.72% | 44.80% |
| 2017 | 36.13% | 28.40% | 47.85% |
| 2016 | 36.88% | 29.37% | 48.25% |
| 2015 | 36.97% | 29.33% | 46.68% |
| 2014 | 36.90% | 29.13% | 48.17% |
| 2013 | 36.50% | 29.19% | 48.44% |
| 2012 | 36.09% | 28.07% | 44.06% |
| 2011 | 35.42% | 27.65% | 44.95% |
| 2010 | 34.65% | 27.64% | 47.93% |
| 2009 | 34.13% | 27.92% | 42.85% |
| 2007 | 32.80% | 26.31% | 44.16% |
| 2005 | 33.10% | 26.90% | 43.01% |
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. ↩
