Floyd County Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Floyd County IN was $786 in 2019 according to the Census ACS survey.1 Average gross rent in Floyd County was $744 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 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% |
| Floyd County IN Median Gross Rent | $786 | -3.68% | -2.72% |
Floyd County IN Real Gross Rent Trends
Median gross rent for Floyd County peaked in real terms in 2014 at $834 and is now $48 (5.76%) lower. Average gross rent for Floyd County peaked in real terms in 2018 at $794 and is now $50 (6.30%) lower.
Real Gross Rent: Floyd County IN Median, Floyd County IN Average, Indiana Median, US Median
Real Gross Rent History for Floyd County
| Date | US Median |
Indiana Median |
Floyd County IN Median |
Floyd County IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $786 | $744 |
| 2018 | $1,077 | $835 | $816 | $794 |
| 2017 | $1,043 | $818 | $791 | $743 |
| 2016 | $1,027 | $804 | $808 | $708 |
| 2015 | $1,017 | $804 | $743 | $681 |
| 2014 | $986 | $795 | $834 | $757 |
| 2013 | $953 | $769 | $737 | $689 |
| 2012 | $940 | $761 | $728 | $706 |
| 2011 | $941 | $764 | $752 | $699 |
| 2010 | $955 | $763 | $753 | $663 |
| 2009 | $960 | $783 | $776 | $721 |
| 2007 | $927 | $750 | $775 | $632 |
| 2005 | $910 | $769 | $746 | $718 |
Floyd 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 Floyd County Indiana was 13.61% according to Census ACS data.
Rental Vacancy Rate in Floyd County Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| Floyd County IN | 13.61% | — | +8.47% |
Trends in Floyd County IN Rental Vacancy Rate
At 13.61%, Floyd County residential rental vacancy rate in 2019 is at the highest point since 2005, the beginning of our reporting for this series.
Rental Vacancy Rate: Floyd County IN, Indiana, US
Historical Rental Vacancy Rate data for Floyd County
| Date | US | Indiana | Floyd County IN |
|---|---|---|---|
| 2019 | 5.97% | 6.89% | 13.61% |
| 2018 | 6.15% | 6.59% | — |
| 2017 | 6.18% | 7.14% | 7.89% |
| 2016 | 5.89% | 6.96% | 5.14% |
| 2015 | 5.85% | 7.94% | — |
| 2014 | 6.32% | 8.09% | — |
| 2013 | 6.49% | 7.00% | — |
| 2012 | 6.77% | 8.43% | — |
| 2011 | 7.40% | 8.47% | — |
| 2010 | 8.17% | 8.78% | — |
| 2009 | 8.43% | 10.44% | — |
| 2007 | 7.87% | 9.72% | — |
| 2005 | 7.74% | 10.67% | — |
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 14.92% in 2019 according to the ACS.
Floyd County 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% |
| Floyd County IN | 14.92% | +0.42% | -0.89% |
Trends in Floyd County IN Rent as a Fraction of Income
The fraction of median Floyd County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 17.95%. Since then it has fallen by 3.03% to 14.92%. From a 2015 low of 14.46%, the fraction of income going to rent has increased by 0.46%.
Fraction of Income towards Rent: Floyd County IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Floyd County Indiana
| Date | US | Indiana | Floyd County IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 14.92% |
| 2018 | 20.50% | 17.65% | 14.50% |
| 2017 | 20.13% | 17.56% | 15.17% |
| 2016 | 20.43% | 17.62% | 15.81% |
| 2015 | 20.63% | 18.00% | 14.46% |
| 2014 | 20.89% | 18.27% | 17.95% |
| 2013 | 20.78% | 18.43% | 14.63% |
| 2012 | 20.65% | 18.27% | 15.20% |
| 2011 | 20.70% | 18.27% | 16.40% |
| 2010 | 20.50% | 18.37% | 16.92% |
| 2009 | 20.12% | 18.15% | 15.68% |
| 2007 | 18.66% | 16.14% | 14.82% |
| 2005 | 18.89% | 16.78% | 15.27% |
Renter Fraction in Floyd County Indiana
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 26.63% 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% |
| Indiana | 30.69% | -0.37% | -0.96% |
| Floyd County IN | 26.63% | +1.11% | -5.08% |
Trends in the Floyd County IN Renter Fraction
The Floyd County household renter fraction peaked in in 2016 at 31.71% and is now 5.08% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Floyd County IN, Indiana, US
History of Floyd County Renter Fraction
| Date | US | Indiana | Floyd County IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 26.63% |
| 2018 | 36.05% | 31.06% | 25.52% |
| 2017 | 36.13% | 30.96% | 27.14% |
| 2016 | 36.88% | 31.65% | 31.71% |
| 2015 | 36.97% | 31.82% | 27.58% |
| 2014 | 36.90% | 31.42% | 28.87% |
| 2013 | 36.50% | 31.48% | 26.64% |
| 2012 | 36.09% | 30.62% | 27.26% |
| 2011 | 35.42% | 30.28% | 28.48% |
| 2010 | 34.65% | 29.71% | 29.38% |
| 2009 | 34.13% | 29.57% | 26.03% |
| 2007 | 32.80% | 28.37% | 26.41% |
| 2005 | 33.10% | 28.00% | 27.13% |
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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