Floyd County Georgia Residential Rent and Rental Statistics
The median monthly gross residential rent in Floyd County GA was $780 in 2019 according to the Census ACS survey.1 Average gross rent in Floyd County was $793 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 Floyd County median and average rent data will be released in September of 2021.
Data is also available below for Floyd County rental vacancy rates, Floyd County rent as a percent of median income and the fraction of renters in Floyd County.
Real Gross Rent in Floyd 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% |
| Floyd County GA Median Gross Rent | $780 | +8.33% | +5.69% |
Floyd County GA Real Gross Rent Trends
Median gross rent for Floyd County peaked in real terms in 2010 at $786 and is now $6 (0.76%) lower. At $793, real average gross rent in Floyd County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Floyd County GA Median, Floyd County GA Average, Georgia Median, US Median
Real Gross Rent History for Floyd County
| Date | US Median |
Georgia Median |
Floyd County GA Median |
Floyd County GA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,049 | $780 | $793 |
| 2018 | $1,077 | $1,026 | $720 | $702 |
| 2017 | $1,043 | $988 | $773 | $726 |
| 2016 | $1,027 | $977 | $738 | $761 |
| 2015 | $1,017 | $964 | $732 | $737 |
| 2014 | $986 | $931 | $689 | $718 |
| 2013 | $953 | $895 | $659 | $670 |
| 2012 | $940 | $890 | $726 | $713 |
| 2011 | $941 | $900 | $709 | $769 |
| 2010 | $955 | $915 | $786 | $739 |
| 2009 | $960 | $912 | $783 | $744 |
| 2007 | $927 | $902 | $733 | $718 |
| 2005 | $910 | $886 | $649 | $649 |
Floyd County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Floyd County Georgia was 7.77% according to Census ACS data.
Rental Vacancy Rate in Floyd County Georgia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Georgia | 7.28% | +0.05% | +1.13% |
| Floyd County GA | — | — | — |
Trends in Floyd County GA Rental Vacancy Rate
The rental vacancy rate in Floyd County peaked in 2009 at 17.67%. Since then it has fallen by 9.90% to 7.77%. Data records for this series originated in 2005.
Rental Vacancy Rate: Floyd County GA, Georgia, US
Historical Rental Vacancy Rate data for Floyd County
| Date | US | Georgia | Floyd 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% | 7.77% |
| 2013 | 6.49% | 9.26% | — |
| 2012 | 6.77% | 9.53% | 16.25% |
| 2011 | 7.40% | 10.72% | — |
| 2010 | 8.17% | 11.72% | — |
| 2009 | 8.43% | 12.32% | 17.67% |
| 2007 | 7.87% | 10.54% | — |
| 2005 | 7.74% | 11.53% | — |
Rent as a Fraction of Income
Using median household income data for Floyd County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Floyd County, median monthly gross rent as a fraction of median household income was 18.40% in 2019 according to the ACS.
Floyd 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% |
| Floyd County GA | 18.40% | -3.66% | +1.43% |
Trends in Floyd County GA Rent as a Fraction of Income
The fraction of median Floyd County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.84%. Since then it has fallen by 4.44% to 18.40%. From a 2016 low of 16.97%, the fraction of income going to rent has increased by 1.43%.
Fraction of Income towards Rent: Floyd County GA, Georgia, US
Historical Data for Annual Rent as a Fraction of Income in Floyd County Georgia
| Date | US | Georgia | Floyd County GA |
|---|---|---|---|
| 2019 | 20.03% | 20.31% | 18.40% |
| 2018 | 20.50% | 20.59% | 22.06% |
| 2017 | 20.13% | 20.46% | 19.63% |
| 2016 | 20.43% | 20.90% | 16.97% |
| 2015 | 20.63% | 21.29% | 20.44% |
| 2014 | 20.89% | 21.46% | 18.77% |
| 2013 | 20.78% | 21.33% | 20.14% |
| 2012 | 20.65% | 21.28% | 21.63% |
| 2011 | 20.70% | 21.73% | 19.22% |
| 2010 | 20.50% | 21.17% | 22.84% |
| 2009 | 20.12% | 20.17% | 21.16% |
| 2007 | 18.66% | 18.76% | 17.43% |
| 2005 | 18.89% | 18.66% | 17.31% |
Renter Fraction in Floyd County Georgia
You can calculate the renter fraction in Floyd 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 Floyd County as a fraction of total Floyd County households. In 2019 39.12% of households were renters according to Census ACS data.
Floyd 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% |
| Floyd County GA | 39.12% | -0.67% | -0.17% |
Trends in the Floyd County GA Renter Fraction
The Floyd County household renter fraction peaked in in 2013 at 43.87% and is now 4.75% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Floyd County GA, Georgia, US
History of Floyd County Renter Fraction
| Date | US | Georgia | Floyd County GA |
|---|---|---|---|
| 2019 | 35.89% | 35.87% | 39.12% |
| 2018 | 36.05% | 36.20% | 39.79% |
| 2017 | 36.13% | 37.12% | 37.31% |
| 2016 | 36.88% | 38.46% | 39.29% |
| 2015 | 36.97% | 38.16% | 42.30% |
| 2014 | 36.90% | 37.77% | 43.52% |
| 2013 | 36.50% | 37.34% | 43.87% |
| 2012 | 36.09% | 36.35% | 34.15% |
| 2011 | 35.42% | 35.42% | 35.69% |
| 2010 | 34.65% | 33.83% | 35.67% |
| 2009 | 34.13% | 32.96% | 32.76% |
| 2007 | 32.80% | 31.46% | 28.22% |
| 2005 | 33.10% | 33.19% | 32.62% |
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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