Hamilton County Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Hamilton County IN was $1,207 in 2019 according to the Census ACS survey.1 Average gross rent in Hamilton County was $1,330 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 Hamilton County median and average rent data will be released in September of 2021.
Data is also available below for Hamilton County rental vacancy rates, Hamilton County rent as a percent of median income and the fraction of renters in Hamilton County.
Real Gross Rent in Hamilton 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% |
| Hamilton County IN Median Gross Rent | $1,207 | -0.25% | +2.20% |
Hamilton County IN Real Gross Rent Trends
Median gross rent for Hamilton County peaked in real terms in 2018 at $1,210 and is now $3 (0.25%) lower. At $1,330, real average gross rent in Hamilton County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Hamilton County IN Median, Hamilton County IN Average, Indiana Median, US Median
Real Gross Rent History for Hamilton County
| Date | US Median |
Indiana Median |
Hamilton County IN Median |
Hamilton County IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $1,207 | $1,330 |
| 2018 | $1,077 | $835 | $1,210 | $1,250 |
| 2017 | $1,043 | $818 | $1,125 | $1,162 |
| 2016 | $1,027 | $804 | $1,181 | $1,182 |
| 2015 | $1,017 | $804 | $1,136 | $1,182 |
| 2014 | $986 | $795 | $1,123 | $1,155 |
| 2013 | $953 | $769 | $1,055 | $1,107 |
| 2012 | $940 | $761 | $995 | $1,039 |
| 2011 | $941 | $764 | $931 | $1,027 |
| 2010 | $955 | $763 | $972 | $1,021 |
| 2009 | $960 | $783 | $1,062 | $1,134 |
| 2007 | $927 | $750 | $1,014 | $990 |
| 2005 | $910 | $769 | $989 | $1,018 |
Hamilton 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 Hamilton County Indiana was 7.77% according to Census ACS data.
Rental Vacancy Rate in Hamilton County Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| Hamilton County IN | 7.77% | +2.25% | +0.19% |
Trends in Hamilton County IN Rental Vacancy Rate
The rental vacancy rate in Hamilton County peaked in 2010 at 11.12%. Since then it has fallen by 3.35% to 7.77%. Data records for this series originated in 2005.
Rental Vacancy Rate: Hamilton County IN, Indiana, US
Historical Rental Vacancy Rate data for Hamilton County
| Date | US | Indiana | Hamilton County IN |
|---|---|---|---|
| 2019 | 5.97% | 6.89% | 7.77% |
| 2018 | 6.15% | 6.59% | 5.52% |
| 2017 | 6.18% | 7.14% | 7.36% |
| 2016 | 5.89% | 6.96% | 7.58% |
| 2015 | 5.85% | 7.94% | 7.76% |
| 2014 | 6.32% | 8.09% | 7.59% |
| 2013 | 6.49% | 7.00% | 3.91% |
| 2012 | 6.77% | 8.43% | — |
| 2011 | 7.40% | 8.47% | — |
| 2010 | 8.17% | 8.78% | 11.12% |
| 2009 | 8.43% | 10.44% | — |
| 2007 | 7.87% | 9.72% | 8.97% |
| 2005 | 7.74% | 10.67% | 2.70% |
Rent as a Fraction of Income
Using median household income data for Hamilton County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hamilton County, median monthly gross rent as a fraction of median household income was 13.79% in 2019 according to the ACS.
Hamilton 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% |
| Hamilton County IN | 13.79% | -0.45% | -1.28% |
Trends in Hamilton County IN Rent as a Fraction of Income
The fraction of median Hamilton County household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 15.07%. Since then it has fallen by 1.28% to 13.79%.
Fraction of Income towards Rent: Hamilton County IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Hamilton County Indiana
| Date | US | Indiana | Hamilton County IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 13.79% |
| 2018 | 20.50% | 17.65% | 14.24% |
| 2017 | 20.13% | 17.56% | 13.99% |
| 2016 | 20.43% | 17.62% | 15.07% |
| 2015 | 20.63% | 18.00% | 14.18% |
| 2014 | 20.89% | 18.27% | 14.48% |
| 2013 | 20.78% | 18.43% | 14.67% |
| 2012 | 20.65% | 18.27% | 13.11% |
| 2011 | 20.70% | 18.27% | 12.77% |
| 2010 | 20.50% | 18.37% | 12.92% |
| 2009 | 20.12% | 18.15% | 14.93% |
| 2007 | 18.66% | 16.14% | 12.64% |
| 2005 | 18.89% | 16.78% | 12.03% |
Renter Fraction in Hamilton County Indiana
You can calculate the renter fraction in Hamilton 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 Hamilton County as a fraction of total Hamilton County households. In 2019 22.40% of households were renters according to Census ACS data.
Hamilton 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% |
| Hamilton County IN | 22.40% | -1.94% | -0.05% |
Trends in the Hamilton County IN Renter Fraction
The Hamilton County household renter fraction peaked in in 2018 at 24.34% and is now 1.94% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Hamilton County IN, Indiana, US
History of Hamilton County Renter Fraction
| Date | US | Indiana | Hamilton County IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 22.40% |
| 2018 | 36.05% | 31.06% | 24.34% |
| 2017 | 36.13% | 30.96% | 21.72% |
| 2016 | 36.88% | 31.65% | 22.45% |
| 2015 | 36.97% | 31.82% | 21.81% |
| 2014 | 36.90% | 31.42% | 22.43% |
| 2013 | 36.50% | 31.48% | 21.11% |
| 2012 | 36.09% | 30.62% | 21.39% |
| 2011 | 35.42% | 30.28% | 19.54% |
| 2010 | 34.65% | 29.71% | 20.39% |
| 2009 | 34.13% | 29.57% | 23.29% |
| 2007 | 32.80% | 28.37% | 21.58% |
| 2005 | 33.10% | 28.00% | 20.76% |
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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