Polk County Iowa Residential Rent and Rental Statistics
The median monthly gross residential rent in Polk County IA was $944 in 2019 according to the Census ACS survey.1 Average gross rent in Polk County was $974 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 Polk County median and average rent data will be released in September of 2021.
Data is also available below for Polk County rental vacancy rates, Polk County rent as a percent of median income and the fraction of renters in Polk County.
Real Gross Rent in Polk County Iowa (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Iowa Median Gross Rent | $808 | +2.15% | +4.12% |
| Polk County IA Median Gross Rent | $944 | +5.01% | +6.07% |
Polk County IA Real Gross Rent Trends
At $944, real median gross rent in Polk County was at its highest level in 2019 since the series began in 2005. At $974, real average gross rent in Polk County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Polk County IA Median, Polk County IA Average, Iowa Median, US Median
Real Gross Rent History for Polk County
| Date | US Median |
Iowa Median |
Polk County IA Median |
Polk County IA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $808 | $944 | $974 |
| 2018 | $1,077 | $791 | $899 | $945 |
| 2017 | $1,043 | $784 | $906 | $944 |
| 2016 | $1,027 | $776 | $890 | $931 |
| 2015 | $1,017 | $762 | $874 | $927 |
| 2014 | $986 | $751 | $860 | $891 |
| 2013 | $953 | $715 | $830 | $866 |
| 2012 | $940 | $703 | $817 | $829 |
| 2011 | $941 | $694 | $799 | $831 |
| 2010 | $955 | $703 | $817 | $851 |
| 2009 | $960 | $696 | $822 | $838 |
| 2007 | $927 | $666 | $795 | $809 |
| 2005 | $910 | $699 | $835 | $830 |
Polk 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 Polk County Iowa was 4.71% according to Census ACS data.
Rental Vacancy Rate in Polk County Iowa
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Iowa | 6.21% | -0.67% | -0.03% |
| Polk County IA | 4.71% | -2.02% | -1.32% |
Trends in Polk County IA Rental Vacancy Rate
The rental vacancy rate in Polk County peaked in 2007 at 10.27%. Since then it has fallen by 5.56% to 4.71%. Data records for this series originated in 2005. From a 2013 post peak low of 2.99%, the rental vacancy rate has increased by 1.72%.
Rental Vacancy Rate: Polk County IA, Iowa, US
Historical Rental Vacancy Rate data for Polk County
| Date | US | Iowa | Polk County IA |
|---|---|---|---|
| 2019 | 5.97% | 6.21% | 4.71% |
| 2018 | 6.15% | 6.88% | 6.73% |
| 2017 | 6.18% | 7.31% | 6.45% |
| 2016 | 5.89% | 6.24% | 6.03% |
| 2015 | 5.85% | 6.41% | 6.54% |
| 2014 | 6.32% | 5.47% | 4.52% |
| 2013 | 6.49% | 6.03% | 2.99% |
| 2012 | 6.77% | 6.77% | 3.39% |
| 2011 | 7.40% | 6.64% | 6.68% |
| 2010 | 8.17% | 6.38% | 4.77% |
| 2009 | 8.43% | 5.97% | 5.54% |
| 2007 | 7.87% | 7.54% | 10.27% |
| 2005 | 7.74% | 7.17% | 5.95% |
Rent as a Fraction of Income
Using median household income data for Polk County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Polk County, median monthly gross rent as a fraction of median household income was 16.93% in 2019 according to the ACS.
Polk County Iowa Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Iowa | 15.72% | +0.17% | -0.09% |
| Polk County IA | 16.93% | +1.41% | +1.01% |
Trends in Polk County IA Rent as a Fraction of Income
Polk County renters paid 16.93% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Polk County IA, Iowa, US
Historical Data for Annual Rent as a Fraction of Income in Polk County Iowa
| Date | US | Iowa | Polk County IA |
|---|---|---|---|
| 2019 | 20.03% | 15.72% | 16.93% |
| 2018 | 20.50% | 15.55% | 15.52% |
| 2017 | 20.13% | 15.57% | 15.98% |
| 2016 | 20.43% | 15.81% | 15.92% |
| 2015 | 20.63% | 15.74% | 16.43% |
| 2014 | 20.89% | 15.88% | 16.04% |
| 2013 | 20.78% | 15.60% | 15.94% |
| 2012 | 20.65% | 15.57% | 15.93% |
| 2011 | 20.70% | 15.61% | 15.91% |
| 2010 | 20.50% | 15.74% | 16.28% |
| 2009 | 20.12% | 15.26% | 15.80% |
| 2007 | 18.66% | 14.39% | 15.00% |
| 2005 | 18.89% | 15.38% | 15.43% |
Renter Fraction in Polk County Iowa
You can calculate the renter fraction in Polk 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 Polk County as a fraction of total Polk County households. In 2019 33.67% of households were renters according to Census ACS data.
Polk County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Iowa | 29.47% | +0.75% | +0.10% |
| Polk County IA | 33.67% | +1.52% | +0.70% |
Trends in the Polk County IA Renter Fraction
The Polk County household renter fraction peaked in in 2015 at 34.68% and is now 1.01% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Polk County IA, Iowa, US
History of Polk County Renter Fraction
| Date | US | Iowa | Polk County IA |
|---|---|---|---|
| 2019 | 35.89% | 29.47% | 33.67% |
| 2018 | 36.05% | 28.72% | 32.15% |
| 2017 | 36.13% | 28.40% | 32.04% |
| 2016 | 36.88% | 29.37% | 32.97% |
| 2015 | 36.97% | 29.33% | 34.68% |
| 2014 | 36.90% | 29.13% | 33.89% |
| 2013 | 36.50% | 29.19% | 33.02% |
| 2012 | 36.09% | 28.07% | 30.79% |
| 2011 | 35.42% | 27.65% | 30.70% |
| 2010 | 34.65% | 27.64% | 30.27% |
| 2009 | 34.13% | 27.92% | 31.81% |
| 2007 | 32.80% | 26.31% | 27.19% |
| 2005 | 33.10% | 26.90% | 29.13% |
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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