Rapides Parish Louisiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Rapides Parish LA was $848 in 2019 according to the Census ACS survey.1 Average gross rent in Rapides Parish was $728 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 Rapides Parish median and average rent data will be released in September of 2021.
Data is also available below for Rapides Parish rental vacancy rates, Rapides Parish rent as a percent of median income and the fraction of renters in Rapides Parish.
Real Gross Rent in Rapides Parish 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% |
| Rapides Parish LA Median Gross Rent | $848 | +1.68% | +6.40% |
Rapides Parish LA Real Gross Rent Trends
Median gross rent for Rapides Parish peaked in real terms in 2008 at $854 and is now $6 (0.70%) lower. From a recent low of 673.0 in 2011, real median gross rent has now increased by $175 (26.00%). Average gross rent for Rapides Parish peaked in real terms in 2008 at $784 and is now $56 (7.14%) lower. From a recent low of 601.0 in 2011, real average gross rent has now increased by $127 (21.13%).
Real Gross Rent: Rapides Parish LA Median, Rapides Parish LA Average, Louisiana Median, US Median
Real Gross Rent History for Rapides Parish
| Date | US Median |
Louisiana Median |
Rapides Parish LA Median |
Rapides Parish LA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $866 | $848 | $728 |
| 2018 | $1,077 | $869 | $834 | $778 |
| 2017 | $1,043 | $862 | $820 | $770 |
| 2016 | $1,027 | $846 | $797 | $716 |
| 2015 | $1,017 | $849 | $780 | $714 |
| 2014 | $986 | $846 | $807 | $751 |
| 2013 | $953 | $803 | $772 | $748 |
| 2012 | $940 | $795 | $705 | $683 |
| 2011 | $941 | $807 | $673 | $601 |
| 2010 | $955 | $822 | $744 | $734 |
| 2009 | $960 | $815 | $760 | $699 |
| 2007 | $927 | $765 | $741 | $673 |
| 2005 | $910 | $711 | $705 | $758 |
Rapides Parish 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 Rapides Parish Louisiana was 8.40% according to Census ACS data.
Rental Vacancy Rate in Rapides Parish Louisiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Louisiana | 8.34% | -0.37% | -0.10% |
| Rapides Parish LA | 8.40% | +1.40% | -0.39% |
Trends in Rapides Parish LA Rental Vacancy Rate
The rental vacancy rate in Rapides Parish peaked in 2014 at 11.94%. Since then it has fallen by 3.54% to 8.40%. Data records for this series originated in 2005.
Rental Vacancy Rate: Rapides Parish LA, Louisiana, US
Historical Rental Vacancy Rate data for Rapides Parish
| Date | US | Louisiana | Rapides Parish LA |
|---|---|---|---|
| 2019 | 5.97% | 8.34% | 8.40% |
| 2018 | 6.15% | 8.71% | 7.00% |
| 2017 | 6.18% | 8.74% | 10.25% |
| 2016 | 5.89% | 8.44% | 8.79% |
| 2015 | 5.85% | 8.30% | 6.27% |
| 2014 | 6.32% | 8.36% | 11.94% |
| 2013 | 6.49% | 7.64% | 6.48% |
| 2012 | 6.77% | 8.55% | 8.31% |
| 2011 | 7.40% | 8.15% | 3.50% |
| 2010 | 8.17% | 8.98% | 2.80% |
| 2009 | 8.43% | 8.19% | 6.13% |
| 2007 | 7.87% | 7.18% | 7.32% |
| 2005 | 7.74% | 7.89% | 11.85% |
Rent as a Fraction of Income
Using median household income data for Rapides Parish, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rapides Parish, median monthly gross rent as a fraction of median household income was 20.15% in 2019 according to the ACS.
Rapides Parish 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% |
| Rapides Parish LA | 20.15% | +0.17% | -1.29% |
Trends in Rapides Parish LA Rent as a Fraction of Income
The fraction of median Rapides Parish household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 22.91%. Since then it has fallen by 2.75% to 20.15%.
Fraction of Income towards Rent: Rapides Parish LA, Louisiana, US
Historical Data for Annual Rent as a Fraction of Income in Rapides Parish Louisiana
| Date | US | Louisiana | Rapides Parish LA |
|---|---|---|---|
| 2019 | 20.03% | 20.35% | 20.15% |
| 2018 | 20.50% | 21.39% | 19.99% |
| 2017 | 20.13% | 21.74% | 22.91% |
| 2016 | 20.43% | 21.48% | 21.45% |
| 2015 | 20.63% | 20.99% | 20.41% |
| 2014 | 20.89% | 21.57% | 22.67% |
| 2013 | 20.78% | 20.73% | 22.36% |
| 2012 | 20.65% | 20.87% | 19.25% |
| 2011 | 20.70% | 21.48% | 21.33% |
| 2010 | 20.50% | 20.78% | 19.79% |
| 2009 | 20.12% | 20.19% | 20.20% |
| 2007 | 18.66% | 19.09% | 20.45% |
| 2005 | 18.89% | 18.59% | 19.77% |
Renter Fraction in Rapides Parish Louisiana
You can calculate the renter fraction in Rapides Parish 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 Rapides Parish as a fraction of total Rapides Parish households. In 2019 36.50% of households were renters according to Census ACS data.
Rapides Parish 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% |
| Rapides Parish LA | 36.50% | -2.04% | -3.46% |
Trends in the Rapides Parish LA Renter Fraction
The Rapides Parish household renter fraction peaked in in 2015 at 43.43% and is now 6.93% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Rapides Parish LA, Louisiana, US
History of Rapides Parish Renter Fraction
| Date | US | Louisiana | Rapides Parish LA |
|---|---|---|---|
| 2019 | 35.89% | 33.51% | 36.50% |
| 2018 | 36.05% | 34.52% | 38.54% |
| 2017 | 36.13% | 34.82% | 35.37% |
| 2016 | 36.88% | 35.74% | 39.96% |
| 2015 | 36.97% | 35.42% | 43.43% |
| 2014 | 36.90% | 35.58% | 37.46% |
| 2013 | 36.50% | 34.03% | 36.10% |
| 2012 | 36.09% | 34.27% | 35.37% |
| 2011 | 35.42% | 33.57% | 32.94% |
| 2010 | 34.65% | 32.45% | 34.50% |
| 2009 | 34.13% | 32.08% | 32.63% |
| 2007 | 32.80% | 32.06% | 33.46% |
| 2005 | 33.10% | 32.19% | 30.92% |
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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