Hardin County Kentucky Residential Rent and Rental Statistics
The median monthly gross residential rent in Hardin County KY was $844 in 2019 according to the Census ACS survey.1 Average gross rent in Hardin County was $844 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 Hardin County median and average rent data will be released in September of 2021.
Data is also available below for Hardin County rental vacancy rates, Hardin County rent as a percent of median income and the fraction of renters in Hardin County.
Real Gross Rent in Hardin 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% |
| Hardin County KY Median Gross Rent | $844 | +1.56% | +6.30% |
Hardin County KY Real Gross Rent Trends
At $844, real median gross rent in Hardin County was at its highest level in 2019 since the series began in 2005. Average gross rent for Hardin County peaked in real terms in 2015 at $850 and is now $6 (0.71%) lower.
Real Gross Rent: Hardin County KY Median, Hardin County KY Average, Kentucky Median, US Median
Real Gross Rent History for Hardin County
| Date | US Median |
Kentucky Median |
Hardin County KY Median |
Hardin County KY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $773 | $844 | $844 |
| 2018 | $1,077 | $793 | $831 | $814 |
| 2017 | $1,043 | $747 | $809 | $841 |
| 2016 | $1,027 | $740 | $794 | $810 |
| 2015 | $1,017 | $745 | $814 | $850 |
| 2014 | $986 | $716 | $815 | $781 |
| 2013 | $953 | $703 | $732 | $749 |
| 2012 | $940 | $677 | $771 | $815 |
| 2011 | $941 | $676 | $773 | $846 |
| 2010 | $955 | $685 | $723 | $740 |
| 2009 | $960 | $699 | $798 | $800 |
| 2007 | $927 | $661 | $666 | $656 |
| 2005 | $910 | $659 | $660 | $565 |
Hardin County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2012 the rental vacancy rate for Hardin County Kentucky was 12.70% according to Census ACS data.
Rental Vacancy Rate in Hardin County Kentucky
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Kentucky | 6.36% | +0.18% | +0.54% |
| Hardin County KY | — | — | — |
Trends in Hardin County KY Rental Vacancy Rate
The rental vacancy rate in Hardin County peaked in 2007 at 21.47%. Since then it has fallen by 8.77% to 12.70%. Data records for this series originated in 2005. From a 2010 post peak low of 5.58%, the rental vacancy rate has increased by 7.12%.
Rental Vacancy Rate: Hardin County KY, Kentucky, US
Historical Rental Vacancy Rate data for Hardin County
| Date | US | Kentucky | Hardin 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% | 12.70% |
| 2011 | 7.40% | 7.90% | — |
| 2010 | 8.17% | 7.53% | 5.58% |
| 2009 | 8.43% | 9.83% | 15.18% |
| 2007 | 7.87% | 9.86% | 21.47% |
| 2005 | 7.74% | 7.99% | — |
Rent as a Fraction of Income
Using median household income data for Hardin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hardin County, median monthly gross rent as a fraction of median household income was 17.63% in 2019 according to the ACS.
Hardin 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% |
| Hardin County KY | 17.63% | -1.58% | +0.18% |
Trends in Hardin County KY Rent as a Fraction of Income
The fraction of median Hardin County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 19.21%. Since then it has fallen by 1.58% to 17.63%.
Fraction of Income towards Rent: Hardin County KY, Kentucky, US
Historical Data for Annual Rent as a Fraction of Income in Hardin County Kentucky
| Date | US | Kentucky | Hardin County KY |
|---|---|---|---|
| 2019 | 20.03% | 17.74% | 17.63% |
| 2018 | 20.50% | 18.60% | 19.21% |
| 2017 | 20.13% | 17.96% | 18.41% |
| 2016 | 20.43% | 18.18% | 17.44% |
| 2015 | 20.63% | 18.63% | 18.70% |
| 2014 | 20.89% | 18.94% | 18.20% |
| 2013 | 20.78% | 18.47% | 17.36% |
| 2012 | 20.65% | 18.29% | 17.67% |
| 2011 | 20.70% | 18.26% | 18.11% |
| 2010 | 20.50% | 18.36% | 17.88% |
| 2009 | 20.12% | 18.36% | 18.63% |
| 2007 | 18.66% | 16.78% | 13.84% |
| 2005 | 18.89% | 16.92% | 14.76% |
Renter Fraction in Hardin County Kentucky
You can calculate the renter fraction in Hardin 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 Hardin County as a fraction of total Hardin County households. In 2019 37.40% of households were renters according to Census ACS data.
Hardin 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% |
| Hardin County KY | 37.40% | -0.44% | -0.35% |
Trends in the Hardin County KY Renter Fraction
The Hardin County household renter fraction peaked in in 2017 at 43.00% and is now 5.60% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Hardin County KY, Kentucky, US
History of Hardin County Renter Fraction
| Date | US | Kentucky | Hardin County KY |
|---|---|---|---|
| 2019 | 35.89% | 32.99% | 37.40% |
| 2018 | 36.05% | 32.61% | 37.84% |
| 2017 | 36.13% | 33.53% | 43.00% |
| 2016 | 36.88% | 33.16% | 37.75% |
| 2015 | 36.97% | 33.67% | 38.13% |
| 2014 | 36.90% | 33.93% | 35.99% |
| 2013 | 36.50% | 32.62% | 41.07% |
| 2012 | 36.09% | 32.96% | 38.86% |
| 2011 | 35.42% | 31.14% | 36.94% |
| 2010 | 34.65% | 31.35% | 34.49% |
| 2009 | 34.13% | 31.35% | 38.80% |
| 2007 | 32.80% | 29.28% | 32.17% |
| 2005 | 33.10% | 29.38% | 29.82% |
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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