Elkhart Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Elkhart, IN (the Elkhart-Goshen metro area) was $841 in 2019 according to the Census ACS survey.1 Average gross rent in Elkhart was $799 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 Elkhart median and average rent data will be released in September of 2021.
Data is also available below for Elkhart rental vacancy rates, Elkhart rent as a percent of median income and the fraction of renters in Elkhart.
Real Gross Rent in Elkhart Indiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Indiana Median Gross Rent | $840 | +0.60% | +4.48% |
| Elkhart, IN Median Gross Rent | $841 | +2.69% | +8.24% |
Elkhart, IN Real Gross Rent Trends
At $841, real median gross rent in Elkhart was at its highest level in 2019 since the series began in 2005. Average gross rent for Elkhart peaked in real terms in 2005 at $811 and is now $12 (1.48%) lower. From a recent low of 699.0 in 2013, real average gross rent has now increased by $100 (14.31%).
Real Gross Rent in Elkhart: Elkhart IN Median, Elkhart IN Average, Indiana Median, US Median
Real Gross Rent History for Elkhart
| Date | US Median |
Indiana Median |
Elkhart, IN Median |
Elkhart, IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $841 | $799 |
| 2018 | $1,077 | $835 | $819 | $752 |
| 2017 | $1,043 | $818 | $814 | $789 |
| 2016 | $1,027 | $804 | $777 | $755 |
| 2015 | $1,017 | $804 | $773 | $762 |
| 2014 | $986 | $795 | $754 | $705 |
| 2013 | $953 | $769 | $733 | $699 |
| 2012 | $940 | $761 | $753 | $704 |
| 2011 | $941 | $764 | $758 | $725 |
| 2010 | $955 | $763 | $748 | $708 |
| 2009 | $960 | $783 | $778 | $801 |
| 2007 | $927 | $750 | $800 | $753 |
| 2005 | $910 | $769 | $830 | $811 |
Elkhart 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 Elkhart Indiana was 14.31% according to Census ACS data.
Rental Vacancy Rate in Elkhart Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| Elkhart, IN | 14.31% | +8.98% | +7.79% |
Trends in Elkhart, IN Rental Vacancy Rate
The rental vacancy rate in Elkhart peaked in 2009 at 19.29%. Since then it has fallen by 4.98% to 14.31%. Data records for this series originated in 2005.
Rental Vacancy Rate: Elkhart IN, Indiana, US
Historical Rental Vacancy Rate data for Elkhart
| Date | US | Indiana | Elkhart, IN |
|---|---|---|---|
| 2019 | 5.97% | 6.89% | 14.31% |
| 2018 | 6.15% | 6.59% | 5.33% |
| 2017 | 6.18% | 7.14% | 5.43% |
| 2016 | 5.89% | 6.96% | 6.52% |
| 2015 | 5.85% | 7.94% | 6.56% |
| 2014 | 6.32% | 8.09% | — |
| 2013 | 6.49% | 7.00% | 6.47% |
| 2012 | 6.77% | 8.43% | 6.97% |
| 2011 | 7.40% | 8.47% | — |
| 2010 | 8.17% | 8.78% | 18.02% |
| 2009 | 8.43% | 10.44% | 19.29% |
| 2007 | 7.87% | 9.72% | 4.77% |
| 2005 | 7.74% | 10.67% | — |
Rent as a Fraction of Income
Using median household income data for Elkhart, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Elkhart, median monthly gross rent as a fraction of median household income was 18.51% in 2019 according to the ACS.
Elkhart Indiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Indiana | 17.50% | -0.15% | -0.12% |
| Elkhart, IN | 18.51% | +1.97% | +2.08% |
Trends in Elkhart, IN Rent as a Fraction of Income
The fraction of median Elkhart household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.45%. Since then it has fallen by 0.94% to 18.51%. From a 2017 low of 16.06%, the fraction of income going to rent has increased by 2.45%.
Fraction of Income towards Rent: Elkhart IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Elkhart Indiana
| Date | US | Indiana | Elkhart, IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 18.51% |
| 2018 | 20.50% | 17.65% | 16.53% |
| 2017 | 20.13% | 17.56% | 16.06% |
| 2016 | 20.43% | 17.62% | 16.42% |
| 2015 | 20.63% | 18.00% | 17.65% |
| 2014 | 20.89% | 18.27% | 17.16% |
| 2013 | 20.78% | 18.43% | 18.40% |
| 2012 | 20.65% | 18.27% | 18.75% |
| 2011 | 20.70% | 18.27% | 19.45% |
| 2010 | 20.50% | 18.37% | 19.23% |
| 2009 | 20.12% | 18.15% | 19.16% |
| 2007 | 18.66% | 16.14% | 17.04% |
| 2005 | 18.89% | 16.78% | 17.75% |
Renter Fraction in Elkhart Indiana
You can calculate the renter fraction in Elkhart 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 Elkhart as a fraction of total Elkhart households. In 2019 27.14% of households were renters according to Census ACS data.
Elkhart Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Indiana | 30.69% | -0.37% | -0.96% |
| Elkhart, IN | 27.14% | -1.97% | -6.09% |
Trends in the Elkhart, IN Renter Fraction
The Elkhart household renter fraction peaked in in 2016 at 33.23% and is now 6.09% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Elkhart IN, Indiana, US
History of Elkhart Renter Fraction
| Date | US | Indiana | Elkhart, IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 27.14% |
| 2018 | 36.05% | 31.06% | 29.11% |
| 2017 | 36.13% | 30.96% | 30.34% |
| 2016 | 36.88% | 31.65% | 33.23% |
| 2015 | 36.97% | 31.82% | 30.97% |
| 2014 | 36.90% | 31.42% | 31.43% |
| 2013 | 36.50% | 31.48% | 30.71% |
| 2012 | 36.09% | 30.62% | 32.70% |
| 2011 | 35.42% | 30.28% | 26.76% |
| 2010 | 34.65% | 29.71% | 28.29% |
| 2009 | 34.13% | 29.57% | 25.15% |
| 2007 | 32.80% | 28.37% | 30.29% |
| 2005 | 33.10% | 28.00% | 29.08% |
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. ↩
