Morgan County Alabama Residential Rent and Rental Statistics
The median monthly gross residential rent in Morgan County AL was $716 in 2019 according to the Census ACS survey.1 Average gross rent in Morgan County was $671 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 Morgan County median and average rent data will be released in September of 2021.
Data is also available below for Morgan County rental vacancy rates, Morgan County rent as a percent of median income and the fraction of renters in Morgan County.
Real Gross Rent in Morgan 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% |
| Morgan County AL Median Gross Rent | $716 | -0.97% | +15.86% |
Morgan County AL Real Gross Rent Trends
Median gross rent for Morgan County peaked in real terms in 2018 at $723 and is now $7 (0.97%) lower. Average gross rent for Morgan County peaked in real terms in 2018 at $732 and is now $61 (8.33%) lower.
Real Gross Rent: Morgan County AL Median, Morgan County AL Average, Alabama Median, US Median
Real Gross Rent History for Morgan County
| Date | US Median |
Alabama Median |
Morgan County AL Median |
Morgan County AL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $807 | $716 | $671 |
| 2018 | $1,077 | $802 | $723 | $732 |
| 2017 | $1,043 | $773 | $636 | $573 |
| 2016 | $1,027 | $778 | $618 | $639 |
| 2015 | $1,017 | $773 | $643 | $640 |
| 2014 | $986 | $757 | $646 | $679 |
| 2013 | $953 | $731 | $622 | $603 |
| 2012 | $940 | $733 | $581 | $567 |
| 2011 | $941 | $742 | $619 | $582 |
| 2010 | $955 | $745 | $677 | $609 |
| 2009 | $960 | $749 | $639 | $631 |
| 2007 | $927 | $706 | $585 | $555 |
| 2005 | $910 | $669 | $633 | $588 |
Morgan County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Morgan County Alabama was 7.73% according to Census ACS data.
Rental Vacancy Rate in Morgan County Alabama
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Alabama | 9.69% | -0.37% | -0.65% |
| Morgan County AL | — | — | — |
Trends in Morgan County AL Rental Vacancy Rate
The rental vacancy rate in Morgan County peaked in 2015 at 9.10%. Since then it has fallen by 1.37% to 7.73%. Data records for this series originated in 2005.
Rental Vacancy Rate: Morgan County AL, Alabama, US
Historical Rental Vacancy Rate data for Morgan County
| Date | US | Alabama | Morgan County AL |
|---|---|---|---|
| 2019 | 5.97% | 9.69% | — |
| 2018 | 6.15% | 10.06% | 7.73% |
| 2017 | 6.18% | 10.99% | — |
| 2016 | 5.89% | 10.34% | — |
| 2015 | 5.85% | 9.72% | 9.10% |
| 2014 | 6.32% | 10.37% | 4.94% |
| 2013 | 6.49% | 9.17% | 4.85% |
| 2012 | 6.77% | 7.79% | 2.33% |
| 2011 | 7.40% | 8.30% | — |
| 2010 | 8.17% | 9.64% | 4.80% |
| 2009 | 8.43% | 10.33% | — |
| 2007 | 7.87% | 9.25% | — |
| 2005 | 7.74% | 9.21% | — |
Rent as a Fraction of Income
Using median household income data for Morgan County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Morgan County, median monthly gross rent as a fraction of median household income was 15.81% in 2019 according to the ACS.
Morgan 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% |
| Morgan County AL | 15.81% | -0.18% | -0.14% |
Trends in Morgan County AL Rent as a Fraction of Income
The fraction of median Morgan County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 17.31%. Since then it has fallen by 1.50% to 15.81%.
Fraction of Income towards Rent: Morgan County AL, Alabama, US
Historical Data for Annual Rent as a Fraction of Income in Morgan County Alabama
| Date | US | Alabama | Morgan County AL |
|---|---|---|---|
| 2019 | 20.03% | 18.72% | 15.81% |
| 2018 | 20.50% | 18.96% | 16.00% |
| 2017 | 20.13% | 18.70% | 15.25% |
| 2016 | 20.43% | 19.27% | 15.95% |
| 2015 | 20.63% | 19.54% | 15.40% |
| 2014 | 20.89% | 20.09% | 16.43% |
| 2013 | 20.78% | 19.44% | 16.43% |
| 2012 | 20.65% | 19.89% | 14.54% |
| 2011 | 20.70% | 19.91% | 15.77% |
| 2010 | 20.50% | 19.78% | 15.98% |
| 2009 | 20.12% | 19.47% | 17.31% |
| 2007 | 18.66% | 17.78% | 13.90% |
| 2005 | 18.89% | 17.41% | 14.76% |
Renter Fraction in Morgan County Alabama
You can calculate the renter fraction in Morgan 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 Morgan County as a fraction of total Morgan County households. In 2019 25.16% of households were renters according to Census ACS data.
Morgan 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% |
| Morgan County AL | 25.16% | -3.61% | +1.83% |
Trends in the Morgan County AL Renter Fraction
The Morgan County household renter fraction peaked in in 2014 at 31.63% and is now 6.47% below that level. From a recent low of 23.33% in 2016, the household based renter fraction has now grown by 1.83%. The origin year for the series is 2005.
Fraction of Renting Households: Morgan County AL, Alabama, US
History of Morgan County Renter Fraction
| Date | US | Alabama | Morgan County AL |
|---|---|---|---|
| 2019 | 35.89% | 31.22% | 25.16% |
| 2018 | 36.05% | 31.96% | 28.77% |
| 2017 | 36.13% | 31.95% | 27.96% |
| 2016 | 36.88% | 31.55% | 23.33% |
| 2015 | 36.97% | 32.11% | 28.43% |
| 2014 | 36.90% | 32.32% | 31.63% |
| 2013 | 36.50% | 31.96% | 28.88% |
| 2012 | 36.09% | 31.25% | 30.73% |
| 2011 | 35.42% | 30.11% | 26.63% |
| 2010 | 34.65% | 29.88% | 27.03% |
| 2009 | 34.13% | 30.42% | 28.68% |
| 2007 | 32.80% | 29.10% | 25.05% |
| 2005 | 33.10% | 29.48% | 26.95% |
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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