Bullitt County Kentucky Residential Rent and Rental Statistics
The median monthly gross residential rent in Bullitt County KY was $858 in 2019 according to the Census ACS survey.1 Average gross rent in Bullitt County was $704 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 Bullitt County median and average rent data will be released in September of 2021.
Data is also available below for Bullitt County rental vacancy rates, Bullitt County rent as a percent of median income and the fraction of renters in Bullitt County.
Real Gross Rent in Bullitt County 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% |
| Bullitt County KY Median Gross Rent | $858 | +6.58% | +16.73% |
Bullitt County KY Real Gross Rent Trends
At $858, real median gross rent in Bullitt County was at its highest level in 2019 since the series began in 2005. Average gross rent for Bullitt County peaked in real terms in 2014 at $839 and is now $135 (16.09%) lower.
Real Gross Rent: Bullitt County KY Median, Bullitt County KY Average, Kentucky Median, US Median
Real Gross Rent History for Bullitt County
| Date | US Median |
Kentucky Median |
Bullitt County KY Median |
Bullitt County KY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $773 | $858 | $704 |
| 2018 | $1,077 | $793 | $805 | $743 |
| 2017 | $1,043 | $747 | $857 | $735 |
| 2016 | $1,027 | $740 | $735 | $670 |
| 2015 | $1,017 | $745 | $825 | $740 |
| 2014 | $986 | $716 | $820 | $839 |
| 2013 | $953 | $703 | $827 | $735 |
| 2012 | $940 | $677 | $722 | $761 |
| 2011 | $941 | $676 | $741 | $724 |
| 2010 | $955 | $685 | $849 | $829 |
| 2009 | $960 | $699 | $834 | $780 |
| 2007 | $927 | $661 | $688 | $661 |
| 2005 | $910 | $659 | $706 | $660 |
Historical Rental Vacancy Rate data for Bullitt County
| Date | US | Kentucky | Bullitt County KY |
|---|---|---|---|
| 2019 | 5.97% | 6.36% | — |
| 2018 | 6.15% | 6.18% | — |
| 2017 | 6.18% | 5.49% | — |
| 2016 | 5.89% | 5.82% | — |
| 2015 | 5.85% | 6.01% | — |
| 2014 | 6.32% | 6.23% | — |
| 2013 | 6.49% | 6.72% | — |
| 2012 | 6.77% | 5.52% | — |
| 2011 | 7.40% | 7.90% | — |
| 2010 | 8.17% | 7.53% | — |
| 2009 | 8.43% | 9.83% | — |
| 2007 | 7.87% | 9.86% | — |
| 2005 | 7.74% | 7.99% | — |
Rent as a Fraction of Income
Using median household income data for Bullitt County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bullitt County, median monthly gross rent as a fraction of median household income was 15.70% in 2019 according to the ACS.
Bullitt County 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% |
| Bullitt County KY | 15.70% | -0.63% | +2.82% |
Trends in Bullitt County KY Rent as a Fraction of Income
The fraction of median Bullitt County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 18.94%. Since then it has fallen by 3.24% to 15.70%. From a 2016 low of 12.89%, the fraction of income going to rent has increased by 2.82%.
Fraction of Income towards Rent: Bullitt County KY, Kentucky, US
Historical Data for Annual Rent as a Fraction of Income in Bullitt County Kentucky
| Date | US | Kentucky | Bullitt County KY |
|---|---|---|---|
| 2019 | 20.03% | 17.74% | 15.70% |
| 2018 | 20.50% | 18.60% | 16.33% |
| 2017 | 20.13% | 17.96% | 16.00% |
| 2016 | 20.43% | 18.18% | 12.89% |
| 2015 | 20.63% | 18.63% | 17.47% |
| 2014 | 20.89% | 18.94% | 17.05% |
| 2013 | 20.78% | 18.47% | 15.63% |
| 2012 | 20.65% | 18.29% | 14.08% |
| 2011 | 20.70% | 18.26% | 16.00% |
| 2010 | 20.50% | 18.36% | 17.99% |
| 2009 | 20.12% | 18.36% | 18.94% |
| 2007 | 18.66% | 16.78% | 14.90% |
| 2005 | 18.89% | 16.92% | 13.86% |
Renter Fraction in Bullitt County Kentucky
You can calculate the renter fraction in Bullitt 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 Bullitt County as a fraction of total Bullitt County households. In 2019 21.50% of households were renters according to Census ACS data.
Bullitt County 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% |
| Bullitt County KY | 21.50% | +2.45% | +4.23% |
Trends in the Bullitt County KY Renter Fraction
The Bullitt County household renter fraction peaked in in 2017 at 21.83% and is now 0.33% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Bullitt County KY, Kentucky, US
History of Bullitt County Renter Fraction
| Date | US | Kentucky | Bullitt County KY |
|---|---|---|---|
| 2019 | 35.89% | 32.99% | 21.50% |
| 2018 | 36.05% | 32.61% | 19.05% |
| 2017 | 36.13% | 33.53% | 21.83% |
| 2016 | 36.88% | 33.16% | 17.27% |
| 2015 | 36.97% | 33.67% | 21.30% |
| 2014 | 36.90% | 33.93% | 20.48% |
| 2013 | 36.50% | 32.62% | 13.58% |
| 2012 | 36.09% | 32.96% | 16.69% |
| 2011 | 35.42% | 31.14% | 20.74% |
| 2010 | 34.65% | 31.35% | 19.37% |
| 2009 | 34.13% | 31.35% | 18.19% |
| 2007 | 32.80% | 29.28% | 19.31% |
| 2005 | 33.10% | 29.38% | 20.90% |
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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