Greeley Colorado Residential Rent and Rental Statistics
The median monthly gross residential rent in Greeley, CO (the Greeley metro area) was $1,211 in 2019 according to the Census ACS survey.1 Average gross rent in Greeley was $1,205 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 Greeley median and average rent data will be released in September of 2021.
Data is also available below for Greeley rental vacancy rates, Greeley rent as a percent of median income and the fraction of renters in Greeley.
Real Gross Rent in Greeley 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% |
| Greeley, CO Median Gross Rent | $1,211 | +12.34% | +20.26% |
Greeley, CO Real Gross Rent Trends
At $1,211, real median gross rent in Greeley was at its highest level in 2019 since the series began in 2005. At $1,205, real average gross rent in Greeley was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Greeley: Greeley CO Median, Greeley CO Average, Colorado Median, US Median
Real Gross Rent History for Greeley
| Date | US Median |
Colorado Median |
Greeley, CO Median |
Greeley, CO Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,369 | $1,211 | $1,205 |
| 2018 | $1,077 | $1,312 | $1,078 | $1,101 |
| 2017 | $1,043 | $1,279 | $1,034 | $1,067 |
| 2016 | $1,027 | $1,226 | $1,007 | $1,021 |
| 2015 | $1,017 | $1,179 | $1,043 | $988 |
| 2014 | $986 | $1,077 | $948 | $998 |
| 2013 | $953 | $1,023 | $877 | $877 |
| 2012 | $940 | $994 | $952 | $966 |
| 2011 | $941 | $972 | $903 | $934 |
| 2010 | $955 | $964 | $810 | $888 |
| 2009 | $960 | $970 | $887 | $894 |
| 2007 | $927 | $926 | $867 | $860 |
| 2005 | $910 | $946 | $848 | $884 |
Greeley 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 Greeley Colorado was 4.86% according to Census ACS data.
Rental Vacancy Rate in Greeley Colorado
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Colorado | 4.60% | -0.67% | +0.31% |
| Greeley, CO | 4.86% | +0.24% | — |
Trends in Greeley, CO Rental Vacancy Rate
The rental vacancy rate in Greeley peaked in 2009 at 10.95%. Since then it has fallen by 6.09% to 4.86%. Data records for this series originated in 2005. From a 2014 post peak low of 2.35%, the rental vacancy rate has increased by 2.51%.
Rental Vacancy Rate: Greeley CO, Colorado, US
Historical Rental Vacancy Rate data for Greeley
| Date | US | Colorado | Greeley, CO |
|---|---|---|---|
| 2019 | 5.97% | 4.60% | 4.86% |
| 2018 | 6.15% | 5.27% | 4.62% |
| 2017 | 6.18% | 5.18% | 6.24% |
| 2016 | 5.89% | 4.29% | — |
| 2015 | 5.85% | 4.47% | 2.98% |
| 2014 | 6.32% | 4.85% | 2.35% |
| 2013 | 6.49% | 5.26% | 4.97% |
| 2012 | 6.77% | 5.69% | 4.42% |
| 2011 | 7.40% | 5.63% | — |
| 2010 | 8.17% | 6.72% | 5.85% |
| 2009 | 8.43% | 8.00% | 10.95% |
| 2007 | 7.87% | 8.63% | 6.99% |
| 2005 | 7.74% | 9.35% | 9.88% |
Rent as a Fraction of Income
Using median household income data for Greeley, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Greeley, median monthly gross rent as a fraction of median household income was 18.49% in 2019 according to the ACS.
Greeley 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% |
| Greeley, CO | 18.49% | +1.75% | +0.28% |
Trends in Greeley, CO Rent as a Fraction of Income
The fraction of median Greeley household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.65%. Since then it has fallen by 1.16% to 18.49%.
Fraction of Income towards Rent: Greeley CO, Colorado, US
Historical Data for Annual Rent as a Fraction of Income in Greeley Colorado
| Date | US | Colorado | Greeley, CO |
|---|---|---|---|
| 2019 | 20.03% | 21.30% | 18.49% |
| 2018 | 20.50% | 21.50% | 16.73% |
| 2017 | 20.13% | 21.53% | 17.47% |
| 2016 | 20.43% | 21.39% | 18.21% |
| 2015 | 20.63% | 20.86% | 16.79% |
| 2014 | 20.89% | 19.97% | 17.36% |
| 2013 | 20.78% | 19.81% | 17.05% |
| 2012 | 20.65% | 19.74% | 19.40% |
| 2011 | 20.70% | 19.50% | 19.65% |
| 2010 | 20.50% | 19.16% | 16.74% |
| 2009 | 20.12% | 18.42% | 17.06% |
| 2007 | 18.66% | 17.13% | 16.99% |
| 2005 | 18.89% | 17.93% | 16.68% |
Renter Fraction in Greeley Colorado
You can calculate the renter fraction in Greeley 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 Greeley as a fraction of total Greeley households. In 2019 26.42% of households were renters according to Census ACS data.
Greeley 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% |
| Greeley, CO | 26.42% | +0.20% | -2.97% |
Trends in the Greeley, CO Renter Fraction
The Greeley household renter fraction peaked in in 2011 at 32.70% and is now 6.28% below that level. From a recent low of 26.02% in 2017, the household based renter fraction has now grown by 0.40%. The origin year for the series is 2005.
Fraction of Renting Households: Greeley CO, Colorado, US
History of Greeley Renter Fraction
| Date | US | Colorado | Greeley, CO |
|---|---|---|---|
| 2019 | 35.89% | 34.15% | 26.42% |
| 2018 | 36.05% | 34.86% | 26.22% |
| 2017 | 36.13% | 34.80% | 26.02% |
| 2016 | 36.88% | 35.24% | 29.39% |
| 2015 | 36.97% | 36.25% | 29.67% |
| 2014 | 36.90% | 36.14% | 28.91% |
| 2013 | 36.50% | 35.49% | 30.15% |
| 2012 | 36.09% | 35.97% | 32.15% |
| 2011 | 35.42% | 35.62% | 32.70% |
| 2010 | 34.65% | 34.06% | 28.31% |
| 2009 | 34.13% | 32.99% | 29.64% |
| 2007 | 32.80% | 31.17% | 29.85% |
| 2005 | 33.10% | 32.18% | 26.93% |
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. ↩
