Hendricks County Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Hendricks County IN was $1,138 in 2019 according to the Census ACS survey.1 Average gross rent in Hendricks County was $1,118 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 Hendricks County median and average rent data will be released in September of 2021.
Data is also available below for Hendricks County rental vacancy rates, Hendricks County rent as a percent of median income and the fraction of renters in Hendricks County.
Real Gross Rent in Hendricks 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% |
| Hendricks County IN Median Gross Rent | $1,138 | +7.56% | +1.97% |
Hendricks County IN Real Gross Rent Trends
At $1,138, real median gross rent in Hendricks County was at its highest level in 2019 since the series began in 2005. At $1,118, real average gross rent in Hendricks County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Hendricks County IN Median, Hendricks County IN Average, Indiana Median, US Median
Real Gross Rent History for Hendricks County
| Date | US Median |
Indiana Median |
Hendricks County IN Median |
Hendricks County IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $1,138 | $1,118 |
| 2018 | $1,077 | $835 | $1,058 | $1,107 |
| 2017 | $1,043 | $818 | $1,063 | $1,068 |
| 2016 | $1,027 | $804 | $1,116 | $1,093 |
| 2015 | $1,017 | $804 | $1,069 | $1,044 |
| 2014 | $986 | $795 | $1,067 | $997 |
| 2013 | $953 | $769 | $937 | $935 |
| 2012 | $940 | $761 | $980 | $983 |
| 2011 | $941 | $764 | $936 | $861 |
| 2010 | $955 | $763 | $938 | $1,000 |
| 2009 | $960 | $783 | $953 | $977 |
| 2007 | $927 | $750 | $1,014 | $954 |
| 2005 | $910 | $769 | $916 | $936 |
Hendricks County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Hendricks County Indiana was 10.59% according to Census ACS data.
Rental Vacancy Rate in Hendricks County Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| Hendricks County IN | — | — | — |
Trends in Hendricks County IN Rental Vacancy Rate
At 10.59%, Hendricks County residential rental vacancy rate in 2015 is at the highest point since 2005, the beginning of our reporting for this series.
Rental Vacancy Rate: Hendricks County IN, Indiana, US
Historical Rental Vacancy Rate data for Hendricks County
| Date | US | Indiana | Hendricks County IN |
|---|---|---|---|
| 2019 | 5.97% | 6.89% | — |
| 2018 | 6.15% | 6.59% | — |
| 2017 | 6.18% | 7.14% | — |
| 2016 | 5.89% | 6.96% | — |
| 2015 | 5.85% | 7.94% | 10.59% |
| 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% | 9.65% |
| 2005 | 7.74% | 10.67% | — |
Rent as a Fraction of Income
Using median household income data for Hendricks County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hendricks County, median monthly gross rent as a fraction of median household income was 15.99% in 2019 according to the ACS.
Hendricks 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% |
| Hendricks County IN | 15.99% | +0.52% | -0.34% |
Trends in Hendricks County IN Rent as a Fraction of Income
The fraction of median Hendricks County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 18.11%. Since then it has fallen by 2.12% to 15.99%.
Fraction of Income towards Rent: Hendricks County IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Hendricks County Indiana
| Date | US | Indiana | Hendricks County IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 15.99% |
| 2018 | 20.50% | 17.65% | 15.47% |
| 2017 | 20.13% | 17.56% | 17.43% |
| 2016 | 20.43% | 17.62% | 16.34% |
| 2015 | 20.63% | 18.00% | 16.56% |
| 2014 | 20.89% | 18.27% | 18.11% |
| 2013 | 20.78% | 18.43% | 15.81% |
| 2012 | 20.65% | 18.27% | 15.60% |
| 2011 | 20.70% | 18.27% | 16.87% |
| 2010 | 20.50% | 18.37% | 15.44% |
| 2009 | 20.12% | 18.15% | 15.25% |
| 2007 | 18.66% | 16.14% | 15.63% |
| 2005 | 18.89% | 16.78% | 15.29% |
Renter Fraction in Hendricks County Indiana
You can calculate the renter fraction in Hendricks 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 Hendricks County as a fraction of total Hendricks County households. In 2019 25.04% of households were renters according to Census ACS data.
Hendricks 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% |
| Hendricks County IN | 25.04% | +3.71% | +2.17% |
Trends in the Hendricks County IN Renter Fraction
At 25.04%, the 2019 household based renter fraction in Hendricks County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Hendricks County IN, Indiana, US
History of Hendricks County Renter Fraction
| Date | US | Indiana | Hendricks County IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 25.04% |
| 2018 | 36.05% | 31.06% | 21.33% |
| 2017 | 36.13% | 30.96% | 22.71% |
| 2016 | 36.88% | 31.65% | 22.87% |
| 2015 | 36.97% | 31.82% | 23.01% |
| 2014 | 36.90% | 31.42% | 24.09% |
| 2013 | 36.50% | 31.48% | 18.94% |
| 2012 | 36.09% | 30.62% | 17.15% |
| 2011 | 35.42% | 30.28% | 17.80% |
| 2010 | 34.65% | 29.71% | 17.60% |
| 2009 | 34.13% | 29.57% | 17.97% |
| 2007 | 32.80% | 28.37% | 17.89% |
| 2005 | 33.10% | 28.00% | 18.10% |
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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