Montgomery Alabama Residential Rent and Rental Statistics
The median monthly gross residential rent in Montgomery, AL (the Montgomery metro area) was $899 in 2019 according to the Census ACS survey.1 Average gross rent in Montgomery was $852 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 Montgomery median and average rent data will be released in September of 2021.
Data is also available below for Montgomery rental vacancy rates, Montgomery rent as a percent of median income and the fraction of renters in Montgomery.
Real Gross Rent in Montgomery 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% |
| Montgomery, AL Median Gross Rent | $899 | -1.53% | +2.98% |
Montgomery, AL Real Gross Rent Trends
Median gross rent for Montgomery peaked in real terms in 2018 at $913 and is now $14 (1.53%) lower. Average gross rent for Montgomery peaked in real terms in 2017 at $886 and is now $34 (3.84%) lower.
Real Gross Rent in Montgomery: Montgomery AL Median, Montgomery AL Average, Alabama Median, US Median
Real Gross Rent History for Montgomery
| Date | US Median |
Alabama Median |
Montgomery, AL Median |
Montgomery, AL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $807 | $899 | $852 |
| 2018 | $1,077 | $802 | $913 | $850 |
| 2017 | $1,043 | $773 | $871 | $886 |
| 2016 | $1,027 | $778 | $873 | $864 |
| 2015 | $1,017 | $773 | $869 | $860 |
| 2014 | $986 | $757 | $863 | $840 |
| 2013 | $953 | $731 | $838 | $811 |
| 2012 | $940 | $733 | $835 | $807 |
| 2011 | $941 | $742 | $813 | $794 |
| 2010 | $955 | $745 | $873 | $834 |
| 2009 | $960 | $749 | $899 | $860 |
| 2007 | $927 | $706 | $802 | $750 |
| 2005 | $910 | $669 | $739 | $728 |
Montgomery 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 Montgomery Alabama was 8.08% according to Census ACS data.
Rental Vacancy Rate in Montgomery Alabama
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Alabama | 9.69% | -0.37% | -0.65% |
| Montgomery, AL | 8.08% | +0.02% | +0.61% |
Trends in Montgomery, AL Rental Vacancy Rate
The rental vacancy rate in Montgomery peaked in 2008 at 12.28%. Since then it has fallen by 4.20% to 8.08%. Data records for this series originated in 2005. From a 2013 post peak low of 4.83%, the rental vacancy rate has increased by 3.25%.
Rental Vacancy Rate: Montgomery AL, Alabama, US
Historical Rental Vacancy Rate data for Montgomery
| Date | US | Alabama | Montgomery, AL |
|---|---|---|---|
| 2019 | 5.97% | 9.69% | 8.08% |
| 2018 | 6.15% | 10.06% | 8.06% |
| 2017 | 6.18% | 10.99% | 8.79% |
| 2016 | 5.89% | 10.34% | 7.47% |
| 2015 | 5.85% | 9.72% | 8.03% |
| 2014 | 6.32% | 10.37% | 7.63% |
| 2013 | 6.49% | 9.17% | 4.83% |
| 2012 | 6.77% | 7.79% | 5.30% |
| 2011 | 7.40% | 8.30% | 9.32% |
| 2010 | 8.17% | 9.64% | 9.99% |
| 2009 | 8.43% | 10.33% | 8.71% |
| 2007 | 7.87% | 9.25% | 7.71% |
| 2005 | 7.74% | 9.21% | 7.94% |
Rent as a Fraction of Income
Using median household income data for Montgomery, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Montgomery, median monthly gross rent as a fraction of median household income was 20.04% in 2019 according to the ACS.
Montgomery 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% |
| Montgomery, AL | 20.04% | -0.68% | -1.13% |
Trends in Montgomery, AL Rent as a Fraction of Income
The fraction of median Montgomery household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 21.54%. Since then it has fallen by 1.50% to 20.04%.
Fraction of Income towards Rent: Montgomery AL, Alabama, US
Historical Data for Annual Rent as a Fraction of Income in Montgomery Alabama
| Date | US | Alabama | Montgomery, AL |
|---|---|---|---|
| 2019 | 20.03% | 18.72% | 20.04% |
| 2018 | 20.50% | 18.96% | 20.72% |
| 2017 | 20.13% | 18.70% | 20.64% |
| 2016 | 20.43% | 19.27% | 21.17% |
| 2015 | 20.63% | 19.54% | 21.54% |
| 2014 | 20.89% | 20.09% | 20.79% |
| 2013 | 20.78% | 19.44% | 20.83% |
| 2012 | 20.65% | 19.89% | 21.09% |
| 2011 | 20.70% | 19.91% | 19.77% |
| 2010 | 20.50% | 19.78% | 20.59% |
| 2009 | 20.12% | 19.47% | 21.38% |
| 2007 | 18.66% | 17.78% | 19.05% |
| 2005 | 18.89% | 17.41% | 17.23% |
Renter Fraction in Montgomery Alabama
You can calculate the renter fraction in Montgomery 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 Montgomery as a fraction of total Montgomery households. In 2019 36.11% of households were renters according to Census ACS data.
Montgomery 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% |
| Montgomery, AL | 36.11% | +0.33% | -0.87% |
Trends in the Montgomery, AL Renter Fraction
The Montgomery household renter fraction peaked in in 2016 at 36.98% and is now 0.87% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Montgomery AL, Alabama, US
History of Montgomery Renter Fraction
| Date | US | Alabama | Montgomery, AL |
|---|---|---|---|
| 2019 | 35.89% | 31.22% | 36.11% |
| 2018 | 36.05% | 31.96% | 35.78% |
| 2017 | 36.13% | 31.95% | 36.42% |
| 2016 | 36.88% | 31.55% | 36.98% |
| 2015 | 36.97% | 32.11% | 36.90% |
| 2014 | 36.90% | 32.32% | 35.22% |
| 2013 | 36.50% | 31.96% | 35.94% |
| 2012 | 36.09% | 31.25% | 34.45% |
| 2011 | 35.42% | 30.11% | 31.94% |
| 2010 | 34.65% | 29.88% | 33.35% |
| 2009 | 34.13% | 30.42% | 31.90% |
| 2007 | 32.80% | 29.10% | 31.73% |
| 2005 | 33.10% | 29.48% | 31.75% |
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. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
Here's where you are
- Home
- / Rent
- / Alabama
- / Montgomery
