Fayette County Georgia Residential Rent and Rental Statistics
The median monthly gross residential rent in Fayette County GA was $1,345 in 2019 according to the Census ACS survey.1 Average gross rent in Fayette County was $1,306 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 Fayette County median and average rent data will be released in September of 2021.
Data is also available below for Fayette County rental vacancy rates, Fayette County rent as a percent of median income and the fraction of renters in Fayette County.
Real Gross Rent in Fayette County Georgia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Georgia Median Gross Rent | $1,049 | +2.24% | +7.37% |
| Fayette County GA Median Gross Rent | $1,345 | +7.69% | -5.01% |
Fayette County GA Real Gross Rent Trends
Median gross rent for Fayette County peaked in real terms in 2016 at $1,416 and is now $71 (5.01%) lower. Average gross rent for Fayette County peaked in real terms in 2016 at $1,405 and is now $99 (7.05%) lower.
Real Gross Rent: Fayette County GA Median, Fayette County GA Average, Georgia Median, US Median
Real Gross Rent History for Fayette County
| Date | US Median |
Georgia Median |
Fayette County GA Median |
Fayette County GA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,049 | $1,345 | $1,306 |
| 2018 | $1,077 | $1,026 | $1,249 | $1,360 |
| 2017 | $1,043 | $988 | $1,339 | $1,365 |
| 2016 | $1,027 | $977 | $1,416 | $1,405 |
| 2015 | $1,017 | $964 | $1,121 | $1,140 |
| 2014 | $986 | $931 | $1,143 | $1,118 |
| 2013 | $953 | $895 | $1,108 | $1,174 |
| 2012 | $940 | $890 | $1,091 | $1,190 |
| 2011 | $941 | $900 | $1,130 | $1,082 |
| 2010 | $955 | $915 | $1,199 | $1,173 |
| 2009 | $960 | $912 | $1,213 | $1,264 |
| 2007 | $927 | $902 | $1,135 | $1,204 |
| 2005 | $910 | $886 | $1,114 | $1,183 |
Historical Rental Vacancy Rate data for Fayette County
| Date | US | Georgia | Fayette County GA |
|---|---|---|---|
| 2019 | 5.97% | 7.28% | — |
| 2018 | 6.15% | 7.23% | — |
| 2017 | 6.18% | 6.73% | — |
| 2016 | 5.89% | 6.15% | — |
| 2015 | 5.85% | 6.47% | — |
| 2014 | 6.32% | 8.17% | — |
| 2013 | 6.49% | 9.26% | — |
| 2012 | 6.77% | 9.53% | 8.15% |
| 2011 | 7.40% | 10.72% | — |
| 2010 | 8.17% | 11.72% | — |
| 2009 | 8.43% | 12.32% | — |
| 2007 | 7.87% | 10.54% | — |
| 2005 | 7.74% | 11.53% | — |
Rent as a Fraction of Income
Using median household income data for Fayette County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Fayette County, median monthly gross rent as a fraction of median household income was 17.51% in 2019 according to the ACS.
Fayette County Georgia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Georgia | 20.31% | -0.28% | -0.59% |
| Fayette County GA | 17.51% | +1.76% | -2.61% |
Trends in Fayette County GA Rent as a Fraction of Income
The fraction of median Fayette County household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 20.12%. Since then it has fallen by 2.61% to 17.51%.
Fraction of Income towards Rent: Fayette County GA, Georgia, US
Historical Data for Annual Rent as a Fraction of Income in Fayette County Georgia
| Date | US | Georgia | Fayette County GA |
|---|---|---|---|
| 2019 | 20.03% | 20.31% | 17.51% |
| 2018 | 20.50% | 20.59% | 15.75% |
| 2017 | 20.13% | 20.46% | 18.39% |
| 2016 | 20.43% | 20.90% | 20.12% |
| 2015 | 20.63% | 21.29% | 16.15% |
| 2014 | 20.89% | 21.46% | 16.87% |
| 2013 | 20.78% | 21.33% | 15.51% |
| 2012 | 20.65% | 21.28% | 15.85% |
| 2011 | 20.70% | 21.73% | 17.20% |
| 2010 | 20.50% | 21.17% | 16.16% |
| 2009 | 20.12% | 20.17% | 16.66% |
| 2007 | 18.66% | 18.76% | 15.10% |
| 2005 | 18.89% | 18.66% | 13.99% |
Renter Fraction in Fayette County Georgia
You can calculate the renter fraction in Fayette 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 Fayette County as a fraction of total Fayette County households. In 2019 16.97% of households were renters according to Census ACS data.
Fayette County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Georgia | 35.87% | -0.33% | -2.59% |
| Fayette County GA | 16.97% | +1.14% | -3.05% |
Trends in the Fayette County GA Renter Fraction
The Fayette County household renter fraction peaked in in 2014 at 23.21% and is now 6.24% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Fayette County GA, Georgia, US
History of Fayette County Renter Fraction
| Date | US | Georgia | Fayette County GA |
|---|---|---|---|
| 2019 | 35.89% | 35.87% | 16.97% |
| 2018 | 36.05% | 36.20% | 15.83% |
| 2017 | 36.13% | 37.12% | 22.34% |
| 2016 | 36.88% | 38.46% | 20.02% |
| 2015 | 36.97% | 38.16% | 17.80% |
| 2014 | 36.90% | 37.77% | 23.21% |
| 2013 | 36.50% | 37.34% | 20.07% |
| 2012 | 36.09% | 36.35% | 20.56% |
| 2011 | 35.42% | 35.42% | 14.76% |
| 2010 | 34.65% | 33.83% | 15.44% |
| 2009 | 34.13% | 32.96% | 17.52% |
| 2007 | 32.80% | 31.46% | 17.61% |
| 2005 | 33.10% | 33.19% | 17.42% |
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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