Benton County Arkansas Residential Rent and Rental Statistics
The median monthly gross residential rent in Benton County AR was $895 in 2019 according to the Census ACS survey.1 Average gross rent in Benton County was $871 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 Benton County median and average rent data will be released in September of 2021.
Data is also available below for Benton County rental vacancy rates, Benton County rent as a percent of median income and the fraction of renters in Benton County.
Real Gross Rent in Benton County Arkansas (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Arkansas Median Gross Rent | $742 | -0.27% | +1.09% |
| Benton County AR Median Gross Rent | $895 | -3.14% | +4.07% |
Benton County AR Real Gross Rent Trends
Median gross rent for Benton County peaked in real terms in 2018 at $924 and is now $29 (3.14%) lower. Average gross rent for Benton County peaked in real terms in 2017 at $919 and is now $48 (5.22%) lower.
Real Gross Rent: Benton County AR Median, Benton County AR Average, Arkansas Median, US Median
Real Gross Rent History for Benton County
| Date | US Median |
Arkansas Median |
Benton County AR Median |
Benton County AR Average |
|---|---|---|---|---|
| 2019 | $1,097 | $742 | $895 | $871 |
| 2018 | $1,077 | $744 | $924 | $914 |
| 2017 | $1,043 | $733 | $909 | $919 |
| 2016 | $1,027 | $734 | $860 | $855 |
| 2015 | $1,017 | $737 | $880 | $889 |
| 2014 | $986 | $721 | $812 | $779 |
| 2013 | $953 | $694 | $834 | $819 |
| 2012 | $940 | $681 | $778 | $788 |
| 2011 | $941 | $690 | $850 | $880 |
| 2010 | $955 | $713 | $781 | $819 |
| 2009 | $960 | $691 | $798 | $800 |
| 2007 | $927 | $673 | $817 | $826 |
| 2005 | $910 | $686 | $798 | $775 |
Benton County 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 Benton County Arkansas was 5.31% according to Census ACS data.
Rental Vacancy Rate in Benton County Arkansas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Arkansas | 7.37% | -0.98% | -0.69% |
| Benton County AR | 5.31% | +2.10% | +2.97% |
Trends in Benton County AR Rental Vacancy Rate
The rental vacancy rate in Benton County peaked in 2008 at 14.38%. Since then it has fallen by 9.07% to 5.31%. Data records for this series originated in 2005. From a 2016 post peak low of 2.34%, the rental vacancy rate has increased by 2.97%.
Rental Vacancy Rate: Benton County AR, Arkansas, US
Historical Rental Vacancy Rate data for Benton County
| Date | US | Arkansas | Benton County AR |
|---|---|---|---|
| 2019 | 5.97% | 7.37% | 5.31% |
| 2018 | 6.15% | 8.35% | 3.21% |
| 2017 | 6.18% | 8.22% | 2.65% |
| 2016 | 5.89% | 8.06% | 2.34% |
| 2015 | 5.85% | 8.50% | 3.45% |
| 2014 | 6.32% | 9.60% | 3.69% |
| 2013 | 6.49% | 9.66% | 2.77% |
| 2012 | 6.77% | 9.13% | 5.73% |
| 2011 | 7.40% | 10.00% | 5.57% |
| 2010 | 8.17% | 10.46% | 11.65% |
| 2009 | 8.43% | 10.48% | 11.64% |
| 2007 | 7.87% | 8.73% | 8.70% |
| 2005 | 7.74% | 9.52% | 7.50% |
Rent as a Fraction of Income
Using median household income data for Benton County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Benton County, median monthly gross rent as a fraction of median household income was 15.54% in 2019 according to the ACS.
Benton County Arkansas Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Arkansas | 18.19% | -0.45% | -0.78% |
| Benton County AR | 15.54% | -0.69% | +0.05% |
Trends in Benton County AR Rent as a Fraction of Income
The fraction of median Benton County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 18.04%. Since then it has fallen by 2.51% to 15.54%. From a 2016 low of 15.48%, the fraction of income going to rent has increased by 0.05%.
Fraction of Income towards Rent: Benton County AR, Arkansas, US
Historical Data for Annual Rent as a Fraction of Income in Benton County Arkansas
| Date | US | Arkansas | Benton County AR |
|---|---|---|---|
| 2019 | 20.03% | 18.19% | 15.54% |
| 2018 | 20.50% | 18.64% | 16.22% |
| 2017 | 20.13% | 18.60% | 16.60% |
| 2016 | 20.43% | 18.97% | 15.48% |
| 2015 | 20.63% | 19.86% | 16.95% |
| 2014 | 20.89% | 19.86% | 16.19% |
| 2013 | 20.78% | 19.52% | 16.80% |
| 2012 | 20.65% | 19.15% | 16.77% |
| 2011 | 20.70% | 19.78% | 18.04% |
| 2010 | 20.50% | 19.99% | 16.02% |
| 2009 | 20.12% | 19.23% | 17.23% |
| 2007 | 18.66% | 18.03% | 17.24% |
| 2005 | 18.89% | 18.82% | 15.67% |
Renter Fraction in Benton County Arkansas
You can calculate the renter fraction in Benton 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 Benton County as a fraction of total Benton County households. In 2019 32.13% of households were renters according to Census ACS data.
Benton County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Arkansas | 34.53% | +0.29% | -0.92% |
| Benton County AR | 32.13% | -0.66% | -1.37% |
Trends in the Benton County AR Renter Fraction
The Benton County household renter fraction peaked in in 2017 at 35.14% and is now 3.01% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Benton County AR, Arkansas, US
History of Benton County Renter Fraction
| Date | US | Arkansas | Benton County AR |
|---|---|---|---|
| 2019 | 35.89% | 34.53% | 32.13% |
| 2018 | 36.05% | 34.24% | 32.79% |
| 2017 | 36.13% | 34.75% | 35.14% |
| 2016 | 36.88% | 35.45% | 33.50% |
| 2015 | 36.97% | 34.83% | 33.49% |
| 2014 | 36.90% | 34.21% | 33.53% |
| 2013 | 36.50% | 34.28% | 32.40% |
| 2012 | 36.09% | 33.76% | 33.25% |
| 2011 | 35.42% | 33.40% | 34.17% |
| 2010 | 34.65% | 32.59% | 30.68% |
| 2009 | 34.13% | 33.96% | 29.64% |
| 2007 | 32.80% | 32.27% | 28.53% |
| 2005 | 33.10% | 32.25% | 29.22% |
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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