Limestone County Alabama Residential Rent and Rental Statistics
The median monthly gross residential rent in Limestone County AL was $728 in 2019 according to the Census ACS survey.1 Average gross rent in Limestone County was $725 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 Limestone County median and average rent data will be released in September of 2021.
Data is also available below for Limestone County rental vacancy rates, Limestone County rent as a percent of median income and the fraction of renters in Limestone County.
Real Gross Rent in Limestone County 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% |
| Limestone County AL Median Gross Rent | $728 | +3.56% | +6.12% |
Limestone County AL Real Gross Rent Trends
Median gross rent for Limestone County peaked in real terms in 2010 at $734 and is now $6 (0.82%) lower. At $725, real average gross rent in Limestone County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Limestone County AL Median, Limestone County AL Average, Alabama Median, US Median
Real Gross Rent History for Limestone County
| Date | US Median |
Alabama Median |
Limestone County AL Median |
Limestone County AL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $807 | $728 | $725 |
| 2018 | $1,077 | $802 | $703 | $654 |
| 2017 | $1,043 | $773 | $618 | $630 |
| 2016 | $1,027 | $778 | $686 | $619 |
| 2015 | $1,017 | $773 | $642 | $635 |
| 2014 | $986 | $757 | $647 | $611 |
| 2013 | $953 | $731 | $593 | $557 |
| 2012 | $940 | $733 | $674 | $645 |
| 2011 | $941 | $742 | $615 | $598 |
| 2010 | $955 | $745 | $734 | $703 |
| 2009 | $960 | $749 | $614 | $636 |
| 2007 | $927 | $706 | $573 | $525 |
| 2005 | $910 | $669 | $596 | $504 |
Limestone 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 Limestone County Alabama was 4.46% according to Census ACS data.
Rental Vacancy Rate in Limestone County Alabama
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Alabama | 9.69% | -0.37% | -0.65% |
| Limestone County AL | — | — | — |
Trends in Limestone County AL Rental Vacancy Rate
The rental vacancy rate in Limestone County peaked in 2007 at 10.78%. Since then it has fallen by 6.32% to 4.46%. Data records for this series originated in 2005.
Rental Vacancy Rate: Limestone County AL, Alabama, US
Historical Rental Vacancy Rate data for Limestone County
| Date | US | Alabama | Limestone County AL |
|---|---|---|---|
| 2019 | 5.97% | 9.69% | — |
| 2018 | 6.15% | 10.06% | — |
| 2017 | 6.18% | 10.99% | 4.46% |
| 2016 | 5.89% | 10.34% | 9.89% |
| 2015 | 5.85% | 9.72% | 9.46% |
| 2014 | 6.32% | 10.37% | — |
| 2013 | 6.49% | 9.17% | — |
| 2012 | 6.77% | 7.79% | — |
| 2011 | 7.40% | 8.30% | — |
| 2010 | 8.17% | 9.64% | 10.42% |
| 2009 | 8.43% | 10.33% | — |
| 2007 | 7.87% | 9.25% | 10.78% |
| 2005 | 7.74% | 9.21% | — |
Rent as a Fraction of Income
Using median household income data for Limestone County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Limestone County, median monthly gross rent as a fraction of median household income was 13.72% in 2019 according to the ACS.
Limestone County 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% |
| Limestone County AL | 13.72% | +1.34% | -1.74% |
Trends in Limestone County AL Rent as a Fraction of Income
The fraction of median Limestone County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 15.85%. Since then it has fallen by 2.13% to 13.72%. From a 2018 low of 12.38%, the fraction of income going to rent has increased by 1.34%.
Fraction of Income towards Rent: Limestone County AL, Alabama, US
Historical Data for Annual Rent as a Fraction of Income in Limestone County Alabama
| Date | US | Alabama | Limestone County AL |
|---|---|---|---|
| 2019 | 20.03% | 18.72% | 13.72% |
| 2018 | 20.50% | 18.96% | 12.38% |
| 2017 | 20.13% | 18.70% | 12.88% |
| 2016 | 20.43% | 19.27% | 15.45% |
| 2015 | 20.63% | 19.54% | 13.20% |
| 2014 | 20.89% | 20.09% | 14.81% |
| 2013 | 20.78% | 19.44% | 13.89% |
| 2012 | 20.65% | 19.89% | 15.85% |
| 2011 | 20.70% | 19.91% | 14.73% |
| 2010 | 20.50% | 19.78% | 15.67% |
| 2009 | 20.12% | 19.47% | 14.04% |
| 2007 | 18.66% | 17.78% | 12.57% |
| 2005 | 18.89% | 17.41% | 14.84% |
Renter Fraction in Limestone County Alabama
You can calculate the renter fraction in Limestone 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 Limestone County as a fraction of total Limestone County households. In 2019 21.41% of households were renters according to Census ACS data.
Limestone County 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% |
| Limestone County AL | 21.41% | +0.49% | -6.34% |
Trends in the Limestone County AL Renter Fraction
The Limestone County household renter fraction peaked in in 2016 at 27.75% and is now 6.34% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Limestone County AL, Alabama, US
History of Limestone County Renter Fraction
| Date | US | Alabama | Limestone County AL |
|---|---|---|---|
| 2019 | 35.89% | 31.22% | 21.41% |
| 2018 | 36.05% | 31.96% | 20.92% |
| 2017 | 36.13% | 31.95% | 20.86% |
| 2016 | 36.88% | 31.55% | 27.75% |
| 2015 | 36.97% | 32.11% | 20.19% |
| 2014 | 36.90% | 32.32% | 25.00% |
| 2013 | 36.50% | 31.96% | 23.52% |
| 2012 | 36.09% | 31.25% | 24.93% |
| 2011 | 35.42% | 30.11% | 23.81% |
| 2010 | 34.65% | 29.88% | 19.93% |
| 2009 | 34.13% | 30.42% | 21.04% |
| 2007 | 32.80% | 29.10% | 23.06% |
| 2005 | 33.10% | 29.48% | 25.18% |
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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