Elizabethtown Kentucky Residential Rent and Rental Statistics
The median monthly gross residential rent in Elizabethtown, KY (the Elizabethtown metro area) was $832 in 2019 according to the Census ACS survey.1 Average gross rent in Elizabethtown was $812 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 Elizabethtown median and average rent data will be released in September of 2021.
Data is also available below for Elizabethtown rental vacancy rates, Elizabethtown rent as a percent of median income and the fraction of renters in Elizabethtown.
Real Gross Rent in Elizabethtown 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% |
| Elizabethtown, KY Median Gross Rent | $832 | 0.00% | +4.79% |
Elizabethtown, KY Real Gross Rent Trends
Median gross rent for Elizabethtown peaked in real terms in 2018 at $832 and is now $0 (0.00%) lower. Average gross rent for Elizabethtown peaked in real terms in 2017 at $840 and is now $28 (3.33%) lower.
Real Gross Rent in Elizabethtown: Elizabethtown KY Median, Elizabethtown KY Average, Kentucky Median, US Median
Real Gross Rent History for Elizabethtown
| Date | US Median |
Kentucky Median |
Elizabethtown, KY Median |
Elizabethtown, KY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $773 | $832 | $812 |
| 2018 | $1,077 | $793 | $832 | $797 |
| 2017 | $1,043 | $747 | $812 | $840 |
| 2016 | $1,027 | $740 | $794 | $805 |
| 2015 | $1,017 | $745 | $793 | $822 |
| 2014 | $986 | $716 | $804 | $766 |
| 2013 | $953 | $703 | $735 | $747 |
| 2012 | $940 | $677 | $749 | $776 |
| 2011 | $941 | $676 | $771 | $834 |
| 2010 | $955 | $685 | $722 | $727 |
| 2009 | $960 | $699 | $789 | $777 |
| 2007 | $927 | $661 | $657 | $649 |
| 2005 | $910 | $659 | $651 | $550 |
Elizabethtown Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Elizabethtown Kentucky was 8.20% according to Census ACS data.
Rental Vacancy Rate in Elizabethtown Kentucky
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Kentucky | 6.36% | +0.18% | +0.54% |
| Elizabethtown, KY | — | — | — |
Trends in Elizabethtown, KY Rental Vacancy Rate
The rental vacancy rate in Elizabethtown peaked in 2007 at 21.14%. Since then it has fallen by 12.94% to 8.20%. Data records for this series originated in 2005. From a 2017 post peak low of 3.35%, the rental vacancy rate has increased by 4.85%.
Rental Vacancy Rate: Elizabethtown KY, Kentucky, US
Historical Rental Vacancy Rate data for Elizabethtown
| Date | US | Kentucky | Elizabethtown, KY |
|---|---|---|---|
| 2019 | 5.97% | 6.36% | — |
| 2018 | 6.15% | 6.18% | 8.20% |
| 2017 | 6.18% | 5.49% | 3.35% |
| 2016 | 5.89% | 5.82% | 11.35% |
| 2015 | 5.85% | 6.01% | 6.64% |
| 2014 | 6.32% | 6.23% | 12.88% |
| 2013 | 6.49% | 6.72% | 10.51% |
| 2012 | 6.77% | 5.52% | 12.62% |
| 2011 | 7.40% | 7.90% | 12.30% |
| 2010 | 8.17% | 7.53% | 7.27% |
| 2009 | 8.43% | 9.83% | 15.16% |
| 2007 | 7.87% | 9.86% | 21.14% |
| 2005 | 7.74% | 7.99% | 11.66% |
Rent as a Fraction of Income
Using median household income data for Elizabethtown, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Elizabethtown, median monthly gross rent as a fraction of median household income was 18.07% in 2019 according to the ACS.
Elizabethtown 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% |
| Elizabethtown, KY | 18.07% | -1.10% | +0.56% |
Trends in Elizabethtown, KY Rent as a Fraction of Income
The fraction of median Elizabethtown household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 19.17%. Since then it has fallen by 1.10% to 18.07%.
Fraction of Income towards Rent: Elizabethtown KY, Kentucky, US
Historical Data for Annual Rent as a Fraction of Income in Elizabethtown Kentucky
| Date | US | Kentucky | Elizabethtown, KY |
|---|---|---|---|
| 2019 | 20.03% | 17.74% | 18.07% |
| 2018 | 20.50% | 18.60% | 19.17% |
| 2017 | 20.13% | 17.96% | 17.97% |
| 2016 | 20.43% | 18.18% | 17.51% |
| 2015 | 20.63% | 18.63% | 18.34% |
| 2014 | 20.89% | 18.94% | 18.42% |
| 2013 | 20.78% | 18.47% | 17.94% |
| 2012 | 20.65% | 18.29% | 17.85% |
| 2011 | 20.70% | 18.26% | 18.45% |
| 2010 | 20.50% | 18.36% | 18.30% |
| 2009 | 20.12% | 18.36% | 18.36% |
| 2007 | 18.66% | 16.78% | 13.94% |
| 2005 | 18.89% | 16.92% | 15.07% |
Renter Fraction in Elizabethtown Kentucky
You can calculate the renter fraction in Elizabethtown 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 Elizabethtown as a fraction of total Elizabethtown households. In 2019 35.42% of households were renters according to Census ACS data.
Elizabethtown 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% |
| Elizabethtown, KY | 35.42% | +1.49% | +1.35% |
Trends in the Elizabethtown, KY Renter Fraction
The Elizabethtown household renter fraction peaked in in 2017 at 38.99% and is now 3.57% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Elizabethtown KY, Kentucky, US
History of Elizabethtown Renter Fraction
| Date | US | Kentucky | Elizabethtown, KY |
|---|---|---|---|
| 2019 | 35.89% | 32.99% | 35.42% |
| 2018 | 36.05% | 32.61% | 33.93% |
| 2017 | 36.13% | 33.53% | 38.99% |
| 2016 | 36.88% | 33.16% | 34.07% |
| 2015 | 36.97% | 33.67% | 34.60% |
| 2014 | 36.90% | 33.93% | 34.10% |
| 2013 | 36.50% | 32.62% | 36.47% |
| 2012 | 36.09% | 32.96% | 37.51% |
| 2011 | 35.42% | 31.14% | 35.38% |
| 2010 | 34.65% | 31.35% | 33.50% |
| 2009 | 34.13% | 31.35% | 36.85% |
| 2007 | 32.80% | 29.28% | 30.70% |
| 2005 | 33.10% | 29.38% | 28.94% |
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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