Lake Charles Louisiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Lake Charles, LA (the Lake Charles metro area) was $868 in 2019 according to the Census ACS survey.1 Average gross rent in Lake Charles was $806 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 Lake Charles median and average rent data will be released in September of 2021.
Data is also available below for Lake Charles rental vacancy rates, Lake Charles rent as a percent of median income and the fraction of renters in Lake Charles.
Real Gross Rent in Lake Charles Louisiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Louisiana Median Gross Rent | $866 | -0.35% | +2.36% |
| Lake Charles, LA Median Gross Rent | $868 | +3.46% | +6.11% |
Lake Charles, LA Real Gross Rent Trends
At $868, real median gross rent in Lake Charles was at its highest level in 2019 since the series began in 2005. Average gross rent for Lake Charles peaked in real terms in 2017 at $816 and is now $10 (1.23%) lower.
Real Gross Rent in Lake Charles: Lake Charles LA Median, Lake Charles LA Average, Louisiana Median, US Median
Real Gross Rent History for Lake Charles
| Date | US Median |
Louisiana Median |
Lake Charles, LA Median |
Lake Charles, LA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $866 | $868 | $806 |
| 2018 | $1,077 | $869 | $839 | $787 |
| 2017 | $1,043 | $862 | $837 | $816 |
| 2016 | $1,027 | $846 | $818 | $791 |
| 2015 | $1,017 | $849 | $810 | $748 |
| 2014 | $986 | $846 | $836 | $703 |
| 2013 | $953 | $803 | $789 | $687 |
| 2012 | $940 | $795 | $727 | $674 |
| 2011 | $941 | $807 | $768 | $697 |
| 2010 | $955 | $822 | $811 | $707 |
| 2009 | $960 | $815 | $778 | $692 |
| 2007 | $927 | $765 | $770 | $672 |
| 2005 | $910 | $711 | $694 | $589 |
Lake Charles 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 Lake Charles Louisiana was 11.07% according to Census ACS data.
Rental Vacancy Rate in Lake Charles Louisiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Louisiana | 8.34% | -0.37% | -0.10% |
| Lake Charles, LA | 11.07% | +1.87% | +5.85% |
Trends in Lake Charles, LA Rental Vacancy Rate
The rental vacancy rate in Lake Charles peaked in 2009 at 11.44%. Since then it has fallen by 0.37% to 11.07%. Data records for this series originated in 2005.
Rental Vacancy Rate: Lake Charles LA, Louisiana, US
Historical Rental Vacancy Rate data for Lake Charles
| Date | US | Louisiana | Lake Charles, LA |
|---|---|---|---|
| 2019 | 5.97% | 8.34% | 11.07% |
| 2018 | 6.15% | 8.71% | 9.20% |
| 2017 | 6.18% | 8.74% | 10.62% |
| 2016 | 5.89% | 8.44% | 5.22% |
| 2015 | 5.85% | 8.30% | 7.00% |
| 2014 | 6.32% | 8.36% | 9.79% |
| 2013 | 6.49% | 7.64% | 7.00% |
| 2012 | 6.77% | 8.55% | 10.86% |
| 2011 | 7.40% | 8.15% | 11.09% |
| 2010 | 8.17% | 8.98% | 10.81% |
| 2009 | 8.43% | 8.19% | 11.44% |
| 2007 | 7.87% | 7.18% | 2.24% |
| 2005 | 7.74% | 7.89% | 4.62% |
Rent as a Fraction of Income
Using median household income data for Lake Charles, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lake Charles, median monthly gross rent as a fraction of median household income was 20.21% in 2019 according to the ACS.
Lake Charles Louisiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Louisiana | 20.35% | -1.04% | -1.13% |
| Lake Charles, LA | 20.21% | +0.06% | -0.16% |
Trends in Lake Charles, LA Rent as a Fraction of Income
The fraction of median Lake Charles household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 21.67%. Since then it has fallen by 1.47% to 20.21%.
Fraction of Income towards Rent: Lake Charles LA, Louisiana, US
Historical Data for Annual Rent as a Fraction of Income in Lake Charles Louisiana
| Date | US | Louisiana | Lake Charles, LA |
|---|---|---|---|
| 2019 | 20.03% | 20.35% | 20.21% |
| 2018 | 20.50% | 21.39% | 20.15% |
| 2017 | 20.13% | 21.74% | 18.63% |
| 2016 | 20.43% | 21.48% | 20.37% |
| 2015 | 20.63% | 20.99% | 19.83% |
| 2014 | 20.89% | 21.57% | 20.51% |
| 2013 | 20.78% | 20.73% | 20.67% |
| 2012 | 20.65% | 20.87% | 18.17% |
| 2011 | 20.70% | 21.48% | 20.92% |
| 2010 | 20.50% | 20.78% | 21.67% |
| 2009 | 20.12% | 20.19% | 18.51% |
| 2007 | 18.66% | 19.09% | 18.62% |
| 2005 | 18.89% | 18.59% | 18.80% |
Renter Fraction in Lake Charles Louisiana
You can calculate the renter fraction in Lake Charles 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 Lake Charles as a fraction of total Lake Charles households. In 2019 33.30% of households were renters according to Census ACS data.
Lake Charles Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Louisiana | 33.51% | -1.01% | -2.23% |
| Lake Charles, LA | 33.30% | -0.12% | -1.70% |
Trends in the Lake Charles, LA Renter Fraction
The Lake Charles household renter fraction peaked in in 2016 at 35.00% and is now 1.70% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Lake Charles LA, Louisiana, US
History of Lake Charles Renter Fraction
| Date | US | Louisiana | Lake Charles, LA |
|---|---|---|---|
| 2019 | 35.89% | 33.51% | 33.30% |
| 2018 | 36.05% | 34.52% | 33.42% |
| 2017 | 36.13% | 34.82% | 29.71% |
| 2016 | 36.88% | 35.74% | 35.00% |
| 2015 | 36.97% | 35.42% | 31.26% |
| 2014 | 36.90% | 35.58% | 32.87% |
| 2013 | 36.50% | 34.03% | 31.72% |
| 2012 | 36.09% | 34.27% | 28.92% |
| 2011 | 35.42% | 33.57% | 31.18% |
| 2010 | 34.65% | 32.45% | 25.49% |
| 2009 | 34.13% | 32.08% | 28.75% |
| 2007 | 32.80% | 32.06% | 30.86% |
| 2005 | 33.10% | 32.19% | 29.75% |
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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