Gadsden Alabama Residential Rent and Rental Statistics
The median monthly gross residential rent in Gadsden, AL (the Gadsden metro area) was $677 in 2019 according to the Census ACS survey.1 Average gross rent in Gadsden was $621 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 Gadsden median and average rent data will be released in September of 2021.
Data is also available below for Gadsden rental vacancy rates, Gadsden rent as a percent of median income and the fraction of renters in Gadsden.
Real Gross Rent in Gadsden Alabama (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Alabama Median Gross Rent | $807 | +0.62% | +3.73% |
| Gadsden, AL Median Gross Rent | $677 | -2.87% | +8.84% |
Gadsden, AL Real Gross Rent Trends
Median gross rent for Gadsden peaked in real terms in 2014 at $705 and is now $28 (3.97%) lower. Average gross rent for Gadsden peaked in real terms in 2018 at $670 and is now $49 (7.31%) lower.
Real Gross Rent in Gadsden: Gadsden AL Median, Gadsden AL Average, Alabama Median, US Median
Real Gross Rent History for Gadsden
| Date | US Median |
Alabama Median |
Gadsden, AL Median |
Gadsden, AL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $807 | $677 | $621 |
| 2018 | $1,077 | $802 | $697 | $670 |
| 2017 | $1,043 | $773 | $637 | $545 |
| 2016 | $1,027 | $778 | $622 | $623 |
| 2015 | $1,017 | $773 | $690 | $600 |
| 2014 | $986 | $757 | $705 | $575 |
| 2013 | $953 | $731 | $633 | $550 |
| 2012 | $940 | $733 | $606 | $553 |
| 2011 | $941 | $742 | $663 | $608 |
| 2010 | $955 | $745 | $681 | $639 |
| 2009 | $960 | $749 | $683 | $553 |
| 2007 | $927 | $706 | $585 | $535 |
| 2005 | $910 | $669 | $584 | $560 |
Gadsden 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 Gadsden Alabama was 9.48% according to Census ACS data.
Rental Vacancy Rate in Gadsden Alabama
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Alabama | 9.69% | -0.37% | -0.65% |
| Gadsden, AL | — | — | — |
Trends in Gadsden, AL Rental Vacancy Rate
The rental vacancy rate in Gadsden peaked in 2009 at 9.95%. Since then it has fallen by 0.47% to 9.48%. Data records for this series originated in 2005.
Rental Vacancy Rate: Gadsden AL, Alabama, US
Historical Rental Vacancy Rate data for Gadsden
| Date | US | Alabama | Gadsden, AL |
|---|---|---|---|
| 2019 | 5.97% | 9.69% | — |
| 2018 | 6.15% | 10.06% | — |
| 2017 | 6.18% | 10.99% | 9.48% |
| 2016 | 5.89% | 10.34% | — |
| 2015 | 5.85% | 9.72% | — |
| 2014 | 6.32% | 10.37% | 5.21% |
| 2013 | 6.49% | 9.17% | — |
| 2012 | 6.77% | 7.79% | 5.26% |
| 2011 | 7.40% | 8.30% | 6.78% |
| 2010 | 8.17% | 9.64% | 4.85% |
| 2009 | 8.43% | 10.33% | 9.95% |
| 2007 | 7.87% | 9.25% | 3.93% |
| 2005 | 7.74% | 9.21% | 5.95% |
Rent as a Fraction of Income
Using median household income data for Gadsden, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Gadsden, median monthly gross rent as a fraction of median household income was 19.60% in 2019 according to the ACS.
Gadsden Alabama Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Alabama | 18.72% | -0.25% | -0.56% |
| Gadsden, AL | 19.60% | +1.68% | +2.28% |
Trends in Gadsden, AL Rent as a Fraction of Income
The fraction of median Gadsden household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 22.12%. Since then it has fallen by 2.52% to 19.60%.
Fraction of Income towards Rent: Gadsden AL, Alabama, US
Historical Data for Annual Rent as a Fraction of Income in Gadsden Alabama
| Date | US | Alabama | Gadsden, AL |
|---|---|---|---|
| 2019 | 20.03% | 18.72% | 19.60% |
| 2018 | 20.50% | 18.96% | 17.92% |
| 2017 | 20.13% | 18.70% | 17.84% |
| 2016 | 20.43% | 19.27% | 17.32% |
| 2015 | 20.63% | 19.54% | 17.99% |
| 2014 | 20.89% | 20.09% | 19.78% |
| 2013 | 20.78% | 19.44% | 18.28% |
| 2012 | 20.65% | 19.89% | 19.96% |
| 2011 | 20.70% | 19.91% | 22.12% |
| 2010 | 20.50% | 19.78% | 20.36% |
| 2009 | 20.12% | 19.47% | 18.38% |
| 2007 | 18.66% | 17.78% | 17.25% |
| 2005 | 18.89% | 17.41% | 17.24% |
Renter Fraction in Gadsden Alabama
You can calculate the renter fraction in Gadsden 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 Gadsden as a fraction of total Gadsden households. In 2019 27.16% of households were renters according to Census ACS data.
Gadsden Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Alabama | 31.22% | -0.74% | -0.33% |
| Gadsden, AL | 27.16% | -1.95% | -1.22% |
Trends in the Gadsden, AL Renter Fraction
The Gadsden household renter fraction peaked in in 2012 at 33.05% and is now 5.89% below that level. From a recent low of 25.50% in 2015, the household based renter fraction has now grown by 1.66%. The origin year for the series is 2005.
Fraction of Renting Households: Gadsden AL, Alabama, US
History of Gadsden Renter Fraction
| Date | US | Alabama | Gadsden, AL |
|---|---|---|---|
| 2019 | 35.89% | 31.22% | 27.16% |
| 2018 | 36.05% | 31.96% | 29.11% |
| 2017 | 36.13% | 31.95% | 28.54% |
| 2016 | 36.88% | 31.55% | 28.38% |
| 2015 | 36.97% | 32.11% | 25.50% |
| 2014 | 36.90% | 32.32% | 31.82% |
| 2013 | 36.50% | 31.96% | 27.97% |
| 2012 | 36.09% | 31.25% | 33.05% |
| 2011 | 35.42% | 30.11% | 26.87% |
| 2010 | 34.65% | 29.88% | 26.03% |
| 2009 | 34.13% | 30.42% | 25.51% |
| 2007 | 32.80% | 29.10% | 27.55% |
| 2005 | 33.10% | 29.48% | 26.73% |
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. ↩
