Oldham County Kentucky Residential Rent and Rental Statistics
The median monthly gross residential rent in Oldham County KY was $807 in 2018 according to the Census ACS survey.1 Average gross rent in Oldham County was $879 in 2018. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2019 Oldham County median and average rent data will be released in September of 2020.
Data is also available below for Oldham County rental vacancy rates, Oldham County rent as a percent of median income and the fraction of renters in Oldham County.
Real Gross Rent in Oldham County Kentucky (2018 dollars)2
| 2018 | 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% |
| Oldham County KY Median Gross Rent | — | — | — |
Oldham County KY Real Gross Rent Trends
Median gross rent for Oldham County peaked in real terms in 2017 at $995 and is now $173 (17.39%) lower. At $895, real average gross rent in Oldham County was at its highest level in 2018 since the series began in 2016.
Real Gross Rent: Oldham County KY Median, Oldham County KY Average, Kentucky Median, US Median
Real Gross Rent History for Oldham County
| Date | US Median |
Kentucky Median |
Oldham County KY Median |
Oldham County KY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $773 | — | — |
| 2018 | $1,077 | $793 | $822 | $895 |
| 2017 | $1,043 | $747 | $995 | $888 |
| 2016 | $1,027 | $740 | $890 | $840 |
| 2015 | $1,017 | $745 | — | — |
| 2014 | $986 | $716 | — | — |
| 2013 | $953 | $703 | — | — |
| 2012 | $940 | $677 | — | — |
| 2011 | $941 | $676 | — | — |
| 2010 | $955 | $685 | — | — |
| 2009 | $960 | $699 | — | — |
| 2007 | $927 | $661 | — | — |
| 2005 | $910 | $659 | — | — |
Historical Rental Vacancy Rate data for Oldham County
| Date | US | Kentucky | Oldham 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 Oldham County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Oldham County, median monthly gross rent as a fraction of median household income was 11.33% in 2019 according to the ACS.
Oldham 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% |
| Oldham County KY | 11.33% | +1.84% | +0.04% |
Trends in Oldham County KY Rent as a Fraction of Income
The fraction of median Oldham County household income required to pay median monthly gross rent peaked in 2017 (relative to the 2016 series origin) at 11.99%. Since then it has fallen by 0.66% to 11.33%. From a 2018 low of 9.49%, the fraction of income going to rent has increased by 1.84%.
Fraction of Income towards Rent: Oldham County KY, Kentucky, US
Historical Data for Annual Rent as a Fraction of Income in Oldham County Kentucky
| Date | US | Kentucky | Oldham County KY |
|---|---|---|---|
| 2019 | 20.03% | 17.74% | 11.33% |
| 2018 | 20.50% | 18.60% | 9.49% |
| 2017 | 20.13% | 17.96% | 11.99% |
| 2016 | 20.43% | 18.18% | 11.29% |
| 2015 | 20.63% | 18.63% | — |
| 2014 | 20.89% | 18.94% | — |
| 2013 | 20.78% | 18.47% | — |
| 2012 | 20.65% | 18.29% | — |
| 2011 | 20.70% | 18.26% | — |
| 2010 | 20.50% | 18.36% | — |
| 2009 | 20.12% | 18.36% | — |
| 2007 | 18.66% | 16.78% | — |
| 2005 | 18.89% | 16.92% | — |
Renter Fraction in Oldham County Kentucky
You can calculate the renter fraction in Oldham 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 Oldham County as a fraction of total Oldham County households. In 2019 13.36% of households were renters according to Census ACS data.
Oldham 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% |
| Oldham County KY | 13.36% | -3.91% | -6.21% |
Trends in the Oldham County KY Renter Fraction
The Oldham County household renter fraction peaked in in 2016 at 19.57% and is now 6.21% below that level. The origin year for the series is 2016.
Fraction of Renting Households: Oldham County KY, Kentucky, US
History of Oldham County Renter Fraction
| Date | US | Kentucky | Oldham County KY |
|---|---|---|---|
| 2019 | 35.89% | 32.99% | 13.36% |
| 2018 | 36.05% | 32.61% | 17.27% |
| 2017 | 36.13% | 33.53% | 16.47% |
| 2016 | 36.88% | 33.16% | 19.57% |
| 2015 | 36.97% | 33.67% | — |
| 2014 | 36.90% | 33.93% | — |
| 2013 | 36.50% | 32.62% | — |
| 2012 | 36.09% | 32.96% | — |
| 2011 | 35.42% | 31.14% | — |
| 2010 | 34.65% | 31.35% | — |
| 2009 | 34.13% | 31.35% | — |
| 2007 | 32.80% | 29.28% | — |
| 2005 | 33.10% | 29.38% | — |
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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