El Paso County Colorado Residential Rent and Rental Statistics
The median monthly gross residential rent in El Paso County CO was $1,253 in 2019 according to the Census ACS survey.1 Average gross rent in El Paso County was $1,277 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 El Paso County median and average rent data will be released in September of 2021.
Data is also available below for El Paso County rental vacancy rates, El Paso County rent as a percent of median income and the fraction of renters in El Paso County.
Real Gross Rent in El Paso County Colorado (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Colorado Median Gross Rent | $1,369 | +4.34% | +11.66% |
| El Paso County CO Median Gross Rent | $1,253 | +3.04% | +12.98% |
El Paso County CO Real Gross Rent Trends
At $1,253, real median gross rent in El Paso County was at its highest level in 2019 since the series began in 2005. At $1,277, real average gross rent in El Paso County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: El Paso County CO Median, El Paso County CO Average, Colorado Median, US Median
Real Gross Rent History for El Paso County
| Date | US Median |
Colorado Median |
El Paso County CO Median |
El Paso County CO Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,369 | $1,253 | $1,277 |
| 2018 | $1,077 | $1,312 | $1,216 | $1,221 |
| 2017 | $1,043 | $1,279 | $1,183 | $1,219 |
| 2016 | $1,027 | $1,226 | $1,109 | $1,151 |
| 2015 | $1,017 | $1,179 | $1,109 | $1,141 |
| 2014 | $986 | $1,077 | $1,027 | $1,098 |
| 2013 | $953 | $1,023 | $1,027 | $1,089 |
| 2012 | $940 | $994 | $957 | $1,018 |
| 2011 | $941 | $972 | $955 | $1,016 |
| 2010 | $955 | $964 | $897 | $950 |
| 2009 | $960 | $970 | $906 | $959 |
| 2007 | $927 | $926 | $914 | $973 |
| 2005 | $910 | $946 | $930 | $971 |
El Paso 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 El Paso County Colorado was 3.25% according to Census ACS data.
Rental Vacancy Rate in El Paso County Colorado
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Colorado | 4.60% | -0.67% | +0.31% |
| El Paso County CO | 3.25% | -0.89% | -0.43% |
Trends in El Paso County CO Rental Vacancy Rate
The rental vacancy rate in El Paso County peaked in 2007 at 14.56%. Since then it has fallen by 11.31% to 3.25%. Data records for this series originated in 2005. From a 2017 post peak low of 2.12%, the rental vacancy rate has increased by 1.13%.
Rental Vacancy Rate: El Paso County CO, Colorado, US
Historical Rental Vacancy Rate data for El Paso County
| Date | US | Colorado | El Paso County CO |
|---|---|---|---|
| 2019 | 5.97% | 4.60% | 3.25% |
| 2018 | 6.15% | 5.27% | 4.14% |
| 2017 | 6.18% | 5.18% | 2.12% |
| 2016 | 5.89% | 4.29% | 3.68% |
| 2015 | 5.85% | 4.47% | 4.84% |
| 2014 | 6.32% | 4.85% | 4.34% |
| 2013 | 6.49% | 5.26% | 5.00% |
| 2012 | 6.77% | 5.69% | 4.81% |
| 2011 | 7.40% | 5.63% | 3.63% |
| 2010 | 8.17% | 6.72% | 6.77% |
| 2009 | 8.43% | 8.00% | 8.27% |
| 2007 | 7.87% | 8.63% | 14.56% |
| 2005 | 7.74% | 9.35% | 8.47% |
Rent as a Fraction of Income
Using median household income data for El Paso County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For El Paso County, median monthly gross rent as a fraction of median household income was 20.65% in 2019 according to the ACS.
El Paso County Colorado Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Colorado | 21.30% | -0.20% | -0.09% |
| El Paso County CO | 20.65% | -0.39% | +0.75% |
Trends in El Paso County CO Rent as a Fraction of Income
The fraction of median El Paso County household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 21.06%. Since then it has fallen by 0.41% to 20.65%.
Fraction of Income towards Rent: El Paso County CO, Colorado, US
Historical Data for Annual Rent as a Fraction of Income in El Paso County Colorado
| Date | US | Colorado | El Paso County CO |
|---|---|---|---|
| 2019 | 20.03% | 21.30% | 20.65% |
| 2018 | 20.50% | 21.50% | 21.03% |
| 2017 | 20.13% | 21.53% | 21.06% |
| 2016 | 20.43% | 21.39% | 19.89% |
| 2015 | 20.63% | 20.86% | 20.86% |
| 2014 | 20.89% | 19.97% | 19.64% |
| 2013 | 20.78% | 19.81% | 20.49% |
| 2012 | 20.65% | 19.74% | 19.56% |
| 2011 | 20.70% | 19.50% | 19.36% |
| 2010 | 20.50% | 19.16% | 18.73% |
| 2009 | 20.12% | 18.42% | 17.13% |
| 2007 | 18.66% | 17.13% | 16.91% |
| 2005 | 18.89% | 17.93% | 17.60% |
Renter Fraction in El Paso County Colorado
You can calculate the renter fraction in El Paso 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 El Paso County as a fraction of total El Paso County households. In 2019 35.95% of households were renters according to Census ACS data.
El Paso County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Colorado | 34.15% | -0.71% | -1.09% |
| El Paso County CO | 35.95% | +1.58% | -1.44% |
Trends in the El Paso County CO Renter Fraction
The El Paso County household renter fraction peaked in in 2015 at 38.94% and is now 2.99% below that level. The origin year for the series is 2005.
Fraction of Renting Households: El Paso County CO, Colorado, US
History of El Paso County Renter Fraction
| Date | US | Colorado | El Paso County CO |
|---|---|---|---|
| 2019 | 35.89% | 34.15% | 35.95% |
| 2018 | 36.05% | 34.86% | 34.37% |
| 2017 | 36.13% | 34.80% | 36.99% |
| 2016 | 36.88% | 35.24% | 37.39% |
| 2015 | 36.97% | 36.25% | 38.94% |
| 2014 | 36.90% | 36.14% | 36.70% |
| 2013 | 36.50% | 35.49% | 37.23% |
| 2012 | 36.09% | 35.97% | 36.82% |
| 2011 | 35.42% | 35.62% | 37.40% |
| 2010 | 34.65% | 34.06% | 36.78% |
| 2009 | 34.13% | 32.99% | 33.69% |
| 2007 | 32.80% | 31.17% | 31.48% |
| 2005 | 33.10% | 32.18% | 34.78% |
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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