Bowling Green Kentucky Residential Rent and Rental Statistics
The median monthly gross residential rent in Bowling Green, KY (the Bowling Green metro area) was $762 in 2019 according to the Census ACS survey.1 Average gross rent in Bowling Green was $727 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 Bowling Green median and average rent data will be released in September of 2021.
Data is also available below for Bowling Green rental vacancy rates, Bowling Green rent as a percent of median income and the fraction of renters in Bowling Green.
Real Gross Rent in Bowling Green Kentucky (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Kentucky Median Gross Rent | $773 | -2.52% | +4.46% |
| Bowling Green, KY Median Gross Rent | $762 | -3.79% | +6.72% |
Bowling Green, KY Real Gross Rent Trends
Median gross rent for Bowling Green peaked in real terms in 2018 at $792 and is now $30 (3.79%) lower. Average gross rent for Bowling Green peaked in real terms in 2017 at $761 and is now $34 (4.47%) lower.
Real Gross Rent in Bowling Green: Bowling Green KY Median, Bowling Green KY Average, Kentucky Median, US Median
Real Gross Rent History for Bowling Green
| Date | US Median |
Kentucky Median |
Bowling Green, KY Median |
Bowling Green, KY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $773 | $762 | $727 |
| 2018 | $1,077 | $793 | $792 | $742 |
| 2017 | $1,043 | $747 | $786 | $761 |
| 2016 | $1,027 | $740 | $714 | $693 |
| 2015 | $1,017 | $745 | $753 | $749 |
| 2014 | $986 | $716 | $723 | $734 |
| 2013 | $953 | $703 | $712 | $670 |
| 2012 | $940 | $677 | $682 | $666 |
| 2011 | $941 | $676 | $686 | $711 |
| 2010 | $955 | $685 | $695 | $707 |
| 2009 | $960 | $699 | $687 | $656 |
| 2007 | $927 | $661 | $715 | $659 |
| 2005 | $910 | $659 | $674 | $661 |
Bowling Green 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 Bowling Green Kentucky was 9.95% according to Census ACS data.
Rental Vacancy Rate in Bowling Green Kentucky
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Kentucky | 6.36% | +0.18% | +0.54% |
| Bowling Green, KY | 9.95% | +5.60% | +7.40% |
Trends in Bowling Green, KY Rental Vacancy Rate
The rental vacancy rate in Bowling Green peaked in 2009 at 10.77%. Since then it has fallen by 0.82% to 9.95%. Data records for this series originated in 2005. From a 2016 post peak low of 2.55%, the rental vacancy rate has increased by 7.40%.
Rental Vacancy Rate: Bowling Green KY, Kentucky, US
Historical Rental Vacancy Rate data for Bowling Green
| Date | US | Kentucky | Bowling Green, KY |
|---|---|---|---|
| 2019 | 5.97% | 6.36% | 9.95% |
| 2018 | 6.15% | 6.18% | 4.35% |
| 2017 | 6.18% | 5.49% | 6.68% |
| 2016 | 5.89% | 5.82% | 2.55% |
| 2015 | 5.85% | 6.01% | 4.73% |
| 2014 | 6.32% | 6.23% | 2.94% |
| 2013 | 6.49% | 6.72% | 8.97% |
| 2012 | 6.77% | 5.52% | 3.03% |
| 2011 | 7.40% | 7.90% | 7.61% |
| 2010 | 8.17% | 7.53% | — |
| 2009 | 8.43% | 9.83% | 10.77% |
| 2007 | 7.87% | 9.86% | 6.85% |
| 2005 | 7.74% | 7.99% | 6.06% |
Rent as a Fraction of Income
Using median household income data for Bowling Green, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bowling Green, median monthly gross rent as a fraction of median household income was 17.86% in 2019 according to the ACS.
Bowling Green Kentucky Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Kentucky | 17.74% | -0.87% | -0.45% |
| Bowling Green, KY | 17.86% | -0.32% | -0.07% |
Trends in Bowling Green, KY Rent as a Fraction of Income
The fraction of median Bowling Green household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 19.67%. Since then it has fallen by 1.81% to 17.86%.
Fraction of Income towards Rent: Bowling Green KY, Kentucky, US
Historical Data for Annual Rent as a Fraction of Income in Bowling Green Kentucky
| Date | US | Kentucky | Bowling Green, KY |
|---|---|---|---|
| 2019 | 20.03% | 17.74% | 17.86% |
| 2018 | 20.50% | 18.60% | 18.18% |
| 2017 | 20.13% | 17.96% | 19.67% |
| 2016 | 20.43% | 18.18% | 17.93% |
| 2015 | 20.63% | 18.63% | 19.61% |
| 2014 | 20.89% | 18.94% | 17.39% |
| 2013 | 20.78% | 18.47% | 17.41% |
| 2012 | 20.65% | 18.29% | 18.70% |
| 2011 | 20.70% | 18.26% | 19.65% |
| 2010 | 20.50% | 18.36% | 19.09% |
| 2009 | 20.12% | 18.36% | 17.61% |
| 2007 | 18.66% | 16.78% | 17.73% |
| 2005 | 18.89% | 16.92% | 16.04% |
Renter Fraction in Bowling Green Kentucky
You can calculate the renter fraction in Bowling Green 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 Bowling Green as a fraction of total Bowling Green households. In 2019 37.91% of households were renters according to Census ACS data.
Bowling Green Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Kentucky | 32.99% | +0.38% | -0.17% |
| Bowling Green, KY | 37.91% | +1.33% | +0.17% |
Trends in the Bowling Green, KY Renter Fraction
The Bowling Green household renter fraction peaked in in 2012 at 42.98% and is now 5.07% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Bowling Green KY, Kentucky, US
History of Bowling Green Renter Fraction
| Date | US | Kentucky | Bowling Green, KY |
|---|---|---|---|
| 2019 | 35.89% | 32.99% | 37.91% |
| 2018 | 36.05% | 32.61% | 36.58% |
| 2017 | 36.13% | 33.53% | 37.55% |
| 2016 | 36.88% | 33.16% | 37.74% |
| 2015 | 36.97% | 33.67% | 38.53% |
| 2014 | 36.90% | 33.93% | 38.12% |
| 2013 | 36.50% | 32.62% | 34.52% |
| 2012 | 36.09% | 32.96% | 42.98% |
| 2011 | 35.42% | 31.14% | 37.01% |
| 2010 | 34.65% | 31.35% | 40.54% |
| 2009 | 34.13% | 31.35% | 36.09% |
| 2007 | 32.80% | 29.28% | 33.56% |
| 2005 | 33.10% | 29.38% | 34.06% |
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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