Jefferson County Kentucky Residential Rent and Rental Statistics
The median monthly gross residential rent in Jefferson County KY was $905 in 2019 according to the Census ACS survey.1 Average gross rent in Jefferson County was $898 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 Jefferson County median and average rent data will be released in September of 2021.
Data is also available below for Jefferson County rental vacancy rates, Jefferson County rent as a percent of median income and the fraction of renters in Jefferson County.
Real Gross Rent in Jefferson 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% |
| Jefferson County KY Median Gross Rent | $905 | +1.69% | +7.10% |
Jefferson County KY Real Gross Rent Trends
At $905, real median gross rent in Jefferson County was at its highest level in 2019 since the series began in 2005. Average gross rent for Jefferson County peaked in real terms in 2018 at $905 and is now $7 (0.77%) lower.
Real Gross Rent: Jefferson County KY Median, Jefferson County KY Average, Kentucky Median, US Median
Real Gross Rent History for Jefferson County
| Date | US Median |
Kentucky Median |
Jefferson County KY Median |
Jefferson County KY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $773 | $905 | $898 |
| 2018 | $1,077 | $793 | $890 | $905 |
| 2017 | $1,043 | $747 | $859 | $848 |
| 2016 | $1,027 | $740 | $845 | $846 |
| 2015 | $1,017 | $745 | $840 | $869 |
| 2014 | $986 | $716 | $784 | $788 |
| 2013 | $953 | $703 | $776 | $768 |
| 2012 | $940 | $677 | $752 | $766 |
| 2011 | $941 | $676 | $751 | $748 |
| 2010 | $955 | $685 | $749 | $754 |
| 2009 | $960 | $699 | $765 | $783 |
| 2007 | $927 | $661 | $738 | $752 |
| 2005 | $910 | $659 | $749 | $745 |
Jefferson County 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 Jefferson County Kentucky was 6.56% according to Census ACS data.
Rental Vacancy Rate in Jefferson County Kentucky
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Kentucky | 6.36% | +0.18% | +0.54% |
| Jefferson County KY | 6.56% | -1.67% | +0.17% |
Trends in Jefferson County KY Rental Vacancy Rate
The rental vacancy rate in Jefferson County peaked in 2007 at 11.49%. Since then it has fallen by 4.93% to 6.56%. Data records for this series originated in 2005. From a 2012 post peak low of 5.75%, the rental vacancy rate has increased by 0.81%.
Rental Vacancy Rate: Jefferson County KY, Kentucky, US
Historical Rental Vacancy Rate data for Jefferson County
| Date | US | Kentucky | Jefferson County KY |
|---|---|---|---|
| 2019 | 5.97% | 6.36% | 6.56% |
| 2018 | 6.15% | 6.18% | 8.23% |
| 2017 | 6.18% | 5.49% | 6.64% |
| 2016 | 5.89% | 5.82% | 6.39% |
| 2015 | 5.85% | 6.01% | 7.00% |
| 2014 | 6.32% | 6.23% | 7.22% |
| 2013 | 6.49% | 6.72% | 7.65% |
| 2012 | 6.77% | 5.52% | 5.75% |
| 2011 | 7.40% | 7.90% | 9.21% |
| 2010 | 8.17% | 7.53% | 9.18% |
| 2009 | 8.43% | 9.83% | 10.44% |
| 2007 | 7.87% | 9.86% | 11.49% |
| 2005 | 7.74% | 7.99% | 8.37% |
Rent as a Fraction of Income
Using median household income data for Jefferson County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Jefferson County, median monthly gross rent as a fraction of median household income was 18.39% in 2019 according to the ACS.
Jefferson 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% |
| Jefferson County KY | 18.39% | -0.39% | -0.23% |
Trends in Jefferson County KY Rent as a Fraction of Income
The fraction of median Jefferson County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 19.00%. Since then it has fallen by 0.61% to 18.39%.
Fraction of Income towards Rent: Jefferson County KY, Kentucky, US
Historical Data for Annual Rent as a Fraction of Income in Jefferson County Kentucky
| Date | US | Kentucky | Jefferson County KY |
|---|---|---|---|
| 2019 | 20.03% | 17.74% | 18.39% |
| 2018 | 20.50% | 18.60% | 18.78% |
| 2017 | 20.13% | 17.96% | 18.16% |
| 2016 | 20.43% | 18.18% | 18.63% |
| 2015 | 20.63% | 18.63% | 18.54% |
| 2014 | 20.89% | 18.94% | 18.49% |
| 2013 | 20.78% | 18.47% | 18.62% |
| 2012 | 20.65% | 18.29% | 18.50% |
| 2011 | 20.70% | 18.26% | 18.38% |
| 2010 | 20.50% | 18.36% | 19.00% |
| 2009 | 20.12% | 18.36% | 18.12% |
| 2007 | 18.66% | 16.78% | 17.42% |
| 2005 | 18.89% | 16.92% | 17.62% |
Renter Fraction in Jefferson County Kentucky
You can calculate the renter fraction in Jefferson 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 Jefferson County as a fraction of total Jefferson County households. In 2019 38.88% of households were renters according to Census ACS data.
Jefferson 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% |
| Jefferson County KY | 38.88% | +0.40% | -0.92% |
Trends in the Jefferson County KY Renter Fraction
The Jefferson County household renter fraction peaked in in 2016 at 39.80% and is now 0.92% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Jefferson County KY, Kentucky, US
History of Jefferson County Renter Fraction
| Date | US | Kentucky | Jefferson County KY |
|---|---|---|---|
| 2019 | 35.89% | 32.99% | 38.88% |
| 2018 | 36.05% | 32.61% | 38.48% |
| 2017 | 36.13% | 33.53% | 38.56% |
| 2016 | 36.88% | 33.16% | 39.80% |
| 2015 | 36.97% | 33.67% | 39.18% |
| 2014 | 36.90% | 33.93% | 38.98% |
| 2013 | 36.50% | 32.62% | 38.32% |
| 2012 | 36.09% | 32.96% | 38.61% |
| 2011 | 35.42% | 31.14% | 36.25% |
| 2010 | 34.65% | 31.35% | 37.36% |
| 2009 | 34.13% | 31.35% | 36.37% |
| 2007 | 32.80% | 29.28% | 33.46% |
| 2005 | 33.10% | 29.38% | 33.70% |
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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