Morgan County Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Morgan County IN was $835 in 2019 according to the Census ACS survey.1 Average gross rent in Morgan County was $858 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 Morgan County median and average rent data will be released in September of 2021.
Data is also available below for Morgan County rental vacancy rates, Morgan County rent as a percent of median income and the fraction of renters in Morgan County.
Real Gross Rent in Morgan 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% |
| Morgan County IN Median Gross Rent | $835 | +1.46% | +1.71% |
Morgan County IN Real Gross Rent Trends
Median gross rent for Morgan County peaked in real terms in 2006 at $888 and is now $53 (5.97%) lower. From a recent low of 753.0 in 2013, real median gross rent has now increased by $82 (10.89%). At $858, real average gross rent in Morgan County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Morgan County IN Median, Morgan County IN Average, Indiana Median, US Median
Real Gross Rent History for Morgan County
| Date | US Median |
Indiana Median |
Morgan County IN Median |
Morgan County IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $835 | $858 |
| 2018 | $1,077 | $835 | $823 | $747 |
| 2017 | $1,043 | $818 | $773 | $793 |
| 2016 | $1,027 | $804 | $821 | $800 |
| 2015 | $1,017 | $804 | $852 | $815 |
| 2014 | $986 | $795 | $759 | $701 |
| 2013 | $953 | $769 | $753 | $706 |
| 2012 | $940 | $761 | $798 | $807 |
| 2011 | $941 | $764 | $793 | $799 |
| 2010 | $955 | $763 | $847 | $797 |
| 2009 | $960 | $783 | $777 | $773 |
| 2007 | $927 | $750 | $818 | $759 |
| 2005 | $910 | $769 | $813 | $601 |
Morgan 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 Morgan County Indiana was 14.52% according to Census ACS data.
Rental Vacancy Rate in Morgan County Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| Morgan County IN | — | — | — |
Trends in Morgan County IN Rental Vacancy Rate
The rental vacancy rate in Morgan County peaked in 2007 at 18.40%. Since then it has fallen by 3.88% to 14.52%. Data records for this series originated in 2005. From a 2010 post peak low of 10.02%, the rental vacancy rate has increased by 4.50%.
Rental Vacancy Rate: Morgan County IN, Indiana, US
Historical Rental Vacancy Rate data for Morgan County
| Date | US | Indiana | Morgan 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% | 14.52% |
| 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% | 10.02% |
| 2009 | 8.43% | 10.44% | — |
| 2007 | 7.87% | 9.72% | 18.40% |
| 2005 | 7.74% | 10.67% | — |
Rent as a Fraction of Income
Using median household income data for Morgan County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Morgan County, median monthly gross rent as a fraction of median household income was 15.94% in 2019 according to the ACS.
Morgan 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% |
| Morgan County IN | 15.94% | +1.75% | +0.40% |
Trends in Morgan County IN Rent as a Fraction of Income
The fraction of median Morgan County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 17.82%. Since then it has fallen by 1.88% to 15.94%. From a 2018 low of 14.19%, the fraction of income going to rent has increased by 1.75%.
Fraction of Income towards Rent: Morgan County IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Morgan County Indiana
| Date | US | Indiana | Morgan County IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 15.94% |
| 2018 | 20.50% | 17.65% | 14.19% |
| 2017 | 20.13% | 17.56% | 14.77% |
| 2016 | 20.43% | 17.62% | 15.54% |
| 2015 | 20.63% | 18.00% | 16.40% |
| 2014 | 20.89% | 18.27% | 16.31% |
| 2013 | 20.78% | 18.43% | 15.14% |
| 2012 | 20.65% | 18.27% | 17.82% |
| 2011 | 20.70% | 18.27% | 16.92% |
| 2010 | 20.50% | 18.37% | 17.17% |
| 2009 | 20.12% | 18.15% | 14.70% |
| 2007 | 18.66% | 16.14% | 15.94% |
| 2005 | 18.89% | 16.78% | 15.55% |
Renter Fraction in Morgan County Indiana
You can calculate the renter fraction in Morgan 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 Morgan County as a fraction of total Morgan County households. In 2019 17.74% of households were renters according to Census ACS data.
Morgan 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% |
| Morgan County IN | 17.74% | -4.55% | -10.18% |
Trends in the Morgan County IN Renter Fraction
The Morgan County household renter fraction peaked in in 2016 at 27.92% and is now 10.18% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Morgan County IN, Indiana, US
History of Morgan County Renter Fraction
| Date | US | Indiana | Morgan County IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 17.74% |
| 2018 | 36.05% | 31.06% | 22.29% |
| 2017 | 36.13% | 30.96% | 26.05% |
| 2016 | 36.88% | 31.65% | 27.92% |
| 2015 | 36.97% | 31.82% | 20.84% |
| 2014 | 36.90% | 31.42% | 23.95% |
| 2013 | 36.50% | 31.48% | 20.99% |
| 2012 | 36.09% | 30.62% | 25.47% |
| 2011 | 35.42% | 30.28% | 25.49% |
| 2010 | 34.65% | 29.71% | 20.98% |
| 2009 | 34.13% | 29.57% | 24.13% |
| 2007 | 32.80% | 28.37% | 18.37% |
| 2005 | 33.10% | 28.00% | 22.73% |
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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