Story County Iowa Residential Rent and Rental Statistics
The median monthly gross residential rent in Story County IA was $906 in 2019 according to the Census ACS survey.1 Average gross rent in Story County was $981 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 Story County median and average rent data will be released in September of 2021.
Data is also available below for Story County rental vacancy rates, Story County rent as a percent of median income and the fraction of renters in Story County.
Real Gross Rent in Story 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% |
| Story County IA Median Gross Rent | $906 | +2.14% | -0.22% |
Story County IA Real Gross Rent Trends
Median gross rent for Story County peaked in real terms in 2017 at $913 and is now $7 (0.77%) lower. Average gross rent for Story County peaked in real terms in 2017 at $986 and is now $5 (0.51%) lower.
Real Gross Rent: Story County IA Median, Story County IA Average, Iowa Median, US Median
Real Gross Rent History for Story County
| Date | US Median |
Iowa Median |
Story County IA Median |
Story County IA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $808 | $906 | $981 |
| 2018 | $1,077 | $791 | $887 | $937 |
| 2017 | $1,043 | $784 | $913 | $986 |
| 2016 | $1,027 | $776 | $908 | $972 |
| 2015 | $1,017 | $762 | $883 | $897 |
| 2014 | $986 | $751 | $841 | $888 |
| 2013 | $953 | $715 | $798 | $857 |
| 2012 | $940 | $703 | $756 | $780 |
| 2011 | $941 | $694 | $707 | $742 |
| 2010 | $955 | $703 | $767 | $834 |
| 2009 | $960 | $696 | $777 | $853 |
| 2007 | $927 | $666 | $785 | $807 |
| 2005 | $910 | $699 | $824 | $861 |
Historical Rental Vacancy Rate data for Story County
| Date | US | Iowa | Story County IA |
|---|---|---|---|
| 2019 | 5.97% | 6.21% | — |
| 2018 | 6.15% | 6.88% | — |
| 2017 | 6.18% | 7.31% | — |
| 2016 | 5.89% | 6.24% | — |
| 2015 | 5.85% | 6.41% | — |
| 2014 | 6.32% | 5.47% | — |
| 2013 | 6.49% | 6.03% | — |
| 2012 | 6.77% | 6.77% | 4.48% |
| 2011 | 7.40% | 6.64% | — |
| 2010 | 8.17% | 6.38% | — |
| 2009 | 8.43% | 5.97% | — |
| 2007 | 7.87% | 7.54% | — |
| 2005 | 7.74% | 7.17% | — |
Rent as a Fraction of Income
Using median household income data for Story County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Story County, median monthly gross rent as a fraction of median household income was 17.23% in 2019 according to the ACS.
Story 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% |
| Story County IA | 17.23% | -1.92% | -2.27% |
Trends in Story County IA Rent as a Fraction of Income
The fraction of median Story County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.75%. Since then it has fallen by 3.52% to 17.23%.
Fraction of Income towards Rent: Story County IA, Iowa, US
Historical Data for Annual Rent as a Fraction of Income in Story County Iowa
| Date | US | Iowa | Story County IA |
|---|---|---|---|
| 2019 | 20.03% | 15.72% | 17.23% |
| 2018 | 20.50% | 15.55% | 19.15% |
| 2017 | 20.13% | 15.57% | 17.60% |
| 2016 | 20.43% | 15.81% | 19.49% |
| 2015 | 20.63% | 15.74% | 19.65% |
| 2014 | 20.89% | 15.88% | 20.75% |
| 2013 | 20.78% | 15.60% | 18.09% |
| 2012 | 20.65% | 15.57% | 17.24% |
| 2011 | 20.70% | 15.61% | 17.14% |
| 2010 | 20.50% | 15.74% | 17.14% |
| 2009 | 20.12% | 15.26% | 17.98% |
| 2007 | 18.66% | 14.39% | 16.76% |
| 2005 | 18.89% | 15.38% | 19.54% |
Renter Fraction in Story County Iowa
You can calculate the renter fraction in Story 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 Story County as a fraction of total Story County households. In 2019 44.15% of households were renters according to Census ACS data.
Story 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% |
| Story County IA | 44.15% | -0.65% | -4.10% |
Trends in the Story County IA Renter Fraction
The Story County household renter fraction peaked in in 2013 at 48.44% and is now 4.29% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Story County IA, Iowa, US
History of Story County Renter Fraction
| Date | US | Iowa | Story County IA |
|---|---|---|---|
| 2019 | 35.89% | 29.47% | 44.15% |
| 2018 | 36.05% | 28.72% | 44.80% |
| 2017 | 36.13% | 28.40% | 47.85% |
| 2016 | 36.88% | 29.37% | 48.25% |
| 2015 | 36.97% | 29.33% | 46.68% |
| 2014 | 36.90% | 29.13% | 48.17% |
| 2013 | 36.50% | 29.19% | 48.44% |
| 2012 | 36.09% | 28.07% | 44.06% |
| 2011 | 35.42% | 27.65% | 44.95% |
| 2010 | 34.65% | 27.64% | 47.93% |
| 2009 | 34.13% | 27.92% | 42.85% |
| 2007 | 32.80% | 26.31% | 44.16% |
| 2005 | 33.10% | 26.90% | 43.01% |
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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