Chattanooga Tennessee Residential Rent and Rental Statistics
The median monthly gross residential rent in Chattanooga, TN (the Chattanooga metro area) was $852 in 2019 according to the Census ACS survey.1 Average gross rent in Chattanooga was $843 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 Chattanooga median and average rent data will be released in September of 2021.
Data is also available below for Chattanooga rental vacancy rates, Chattanooga rent as a percent of median income and the fraction of renters in Chattanooga.
Real Gross Rent in Chattanooga Tennessee (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Tennessee Median Gross Rent | $904 | +3.08% | +7.11% |
| Chattanooga, TN Median Gross Rent | $852 | +0.35% | +6.37% |
Chattanooga, TN Real Gross Rent Trends
At $852, real median gross rent in Chattanooga was at its highest level in 2019 since the series began in 2005. At $843, real average gross rent in Chattanooga was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Chattanooga: Chattanooga TN Median, Chattanooga TN Average, Tennessee Median, US Median
Real Gross Rent History for Chattanooga
| Date | US Median |
Tennessee Median |
Chattanooga, TN Median |
Chattanooga, TN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $904 | $852 | $843 |
| 2018 | $1,077 | $877 | $849 | $837 |
| 2017 | $1,043 | $859 | $820 | $779 |
| 2016 | $1,027 | $844 | $801 | $810 |
| 2015 | $1,017 | $833 | $789 | $762 |
| 2014 | $986 | $813 | $793 | $759 |
| 2013 | $953 | $788 | $760 | $755 |
| 2012 | $940 | $777 | $753 | $745 |
| 2011 | $941 | $772 | $741 | $726 |
| 2010 | $955 | $779 | $769 | $731 |
| 2009 | $960 | $777 | $751 | $727 |
| 2007 | $927 | $745 | $698 | $664 |
| 2005 | $910 | $729 | $700 | $671 |
Chattanooga Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Chattanooga Tennessee was 5.83% according to Census ACS data.
Rental Vacancy Rate in Chattanooga Tennessee
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Tennessee | 7.27% | -0.29% | +0.59% |
| Chattanooga, TN | 5.83% | -0.44% | -5.72% |
Trends in Chattanooga, TN Rental Vacancy Rate
The rental vacancy rate in Chattanooga peaked in 2008 at 13.45%. Since then it has fallen by 7.62% to 5.83%. Data records for this series originated in 2005. From a 2017 post peak low of 5.77%, the rental vacancy rate has increased by 0.06%.
Rental Vacancy Rate: Chattanooga TN, Tennessee, US
Historical Rental Vacancy Rate data for Chattanooga
| Date | US | Tennessee | Chattanooga, TN |
|---|---|---|---|
| 2019 | 5.97% | 7.27% | 5.83% |
| 2018 | 6.15% | 7.56% | 6.27% |
| 2017 | 6.18% | 6.67% | 5.77% |
| 2016 | 5.89% | 6.68% | 11.55% |
| 2015 | 5.85% | 7.13% | 10.26% |
| 2014 | 6.32% | 7.24% | 9.40% |
| 2013 | 6.49% | 7.86% | 6.74% |
| 2012 | 6.77% | 7.89% | 7.92% |
| 2011 | 7.40% | 8.54% | 8.65% |
| 2010 | 8.17% | 10.33% | 7.13% |
| 2009 | 8.43% | 10.52% | 9.99% |
| 2007 | 7.87% | 9.20% | 9.83% |
| 2005 | 7.74% | 8.82% | 11.62% |
Rent as a Fraction of Income
Using median household income data for Chattanooga, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Chattanooga, median monthly gross rent as a fraction of median household income was 18.47% in 2019 according to the ACS.
Chattanooga Tennessee Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Tennessee | 19.35% | -0.38% | -0.58% |
| Chattanooga, TN | 18.47% | +0.18% | -1.26% |
Trends in Chattanooga, TN Rent as a Fraction of Income
The fraction of median Chattanooga household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 19.73%. Since then it has fallen by 1.26% to 18.47%.
Fraction of Income towards Rent: Chattanooga TN, Tennessee, US
Historical Data for Annual Rent as a Fraction of Income in Chattanooga Tennessee
| Date | US | Tennessee | Chattanooga, TN |
|---|---|---|---|
| 2019 | 20.03% | 19.35% | 18.47% |
| 2018 | 20.50% | 19.73% | 18.29% |
| 2017 | 20.13% | 19.47% | 18.99% |
| 2016 | 20.43% | 19.92% | 19.73% |
| 2015 | 20.63% | 19.93% | 18.67% |
| 2014 | 20.89% | 20.83% | 19.34% |
| 2013 | 20.78% | 20.26% | 18.16% |
| 2012 | 20.65% | 20.48% | 19.54% |
| 2011 | 20.70% | 20.58% | 19.52% |
| 2010 | 20.50% | 20.17% | 19.52% |
| 2009 | 20.12% | 19.61% | 19.43% |
| 2007 | 18.66% | 17.96% | 16.48% |
| 2005 | 18.89% | 18.00% | 16.63% |
Renter Fraction in Chattanooga Tennessee
You can calculate the renter fraction in Chattanooga 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 Chattanooga as a fraction of total Chattanooga households. In 2019 33.98% of households were renters according to Census ACS data.
Chattanooga Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Tennessee | 33.49% | -0.28% | -1.42% |
| Chattanooga, TN | 33.98% | +2.21% | +1.94% |
Trends in the Chattanooga, TN Renter Fraction
The Chattanooga household renter fraction peaked in in 2017 at 34.84% and is now 0.86% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Chattanooga TN, Tennessee, US
History of Chattanooga Renter Fraction
| Date | US | Tennessee | Chattanooga, TN |
|---|---|---|---|
| 2019 | 35.89% | 33.49% | 33.98% |
| 2018 | 36.05% | 33.77% | 31.77% |
| 2017 | 36.13% | 34.57% | 34.84% |
| 2016 | 36.88% | 34.91% | 32.04% |
| 2015 | 36.97% | 34.18% | 32.94% |
| 2014 | 36.90% | 33.86% | 33.64% |
| 2013 | 36.50% | 33.62% | 32.64% |
| 2012 | 36.09% | 33.31% | 33.32% |
| 2011 | 35.42% | 32.72% | 31.96% |
| 2010 | 34.65% | 31.87% | 31.18% |
| 2009 | 34.13% | 30.85% | 31.39% |
| 2007 | 32.80% | 30.06% | 30.96% |
| 2005 | 33.10% | 30.74% | 28.53% |
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. ↩
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