Lapeer County Michigan Residential Rent and Rental Statistics
The median monthly gross residential rent in Lapeer County MI was $798 in 2019 according to the Census ACS survey.1 Average gross rent in Lapeer County was $734 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 Lapeer County median and average rent data will be released in September of 2021.
Data is also available below for Lapeer County rental vacancy rates, Lapeer County rent as a percent of median income and the fraction of renters in Lapeer County.
Real Gross Rent in Lapeer County Michigan (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Michigan Median Gross Rent | $888 | +1.25% | +3.62% |
| Lapeer County MI Median Gross Rent | $798 | +2.70% | -7.10% |
Lapeer County MI Real Gross Rent Trends
Median gross rent for Lapeer County peaked in real terms in 2011 at $885 and is now $87 (9.83%) lower. From a recent low of 703.0 in 2017, real median gross rent has now increased by $95 (13.51%). Average gross rent for Lapeer County peaked in real terms in 2011 at $846 and is now $112 (13.24%) lower.
Real Gross Rent: Lapeer County MI Median, Lapeer County MI Average, Michigan Median, US Median
Real Gross Rent History for Lapeer County
| Date | US Median |
Michigan Median |
Lapeer County MI Median |
Lapeer County MI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $888 | $798 | $734 |
| 2018 | $1,077 | $877 | $777 | $725 |
| 2017 | $1,043 | $861 | $703 | $727 |
| 2016 | $1,027 | $857 | $859 | $777 |
| 2015 | $1,017 | $852 | $773 | $751 |
| 2014 | $986 | $832 | $808 | $730 |
| 2013 | $953 | $809 | $817 | $794 |
| 2012 | $940 | $796 | $755 | $713 |
| 2011 | $941 | $798 | $885 | $846 |
| 2010 | $955 | $816 | $831 | $779 |
| 2009 | $960 | $816 | $757 | $690 |
| 2007 | $927 | $802 | $768 | $665 |
| 2005 | $910 | $819 | $843 | $814 |
Lapeer County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Lapeer County Michigan was 7.91% according to Census ACS data.
Rental Vacancy Rate in Lapeer County Michigan
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Michigan | 5.56% | +0.74% | +0.15% |
| Lapeer County MI | — | — | — |
Trends in Lapeer County MI Rental Vacancy Rate
The rental vacancy rate in Lapeer County peaked in 2011 at 14.42%. Since then it has fallen by 6.51% to 7.91%. Data records for this series originated in 2005. From a 2013 post peak low of 5.48%, the rental vacancy rate has increased by 2.43%.
Rental Vacancy Rate: Lapeer County MI, Michigan, US
Historical Rental Vacancy Rate data for Lapeer County
| Date | US | Michigan | Lapeer County MI |
|---|---|---|---|
| 2019 | 5.97% | 5.56% | — |
| 2018 | 6.15% | 4.82% | 7.91% |
| 2017 | 6.18% | 4.87% | — |
| 2016 | 5.89% | 5.41% | — |
| 2015 | 5.85% | 5.19% | 10.39% |
| 2014 | 6.32% | 5.88% | 7.97% |
| 2013 | 6.49% | 6.04% | 5.48% |
| 2012 | 6.77% | 6.73% | — |
| 2011 | 7.40% | 7.72% | 14.42% |
| 2010 | 8.17% | 9.60% | 11.67% |
| 2009 | 8.43% | 9.48% | 10.79% |
| 2007 | 7.87% | 9.66% | — |
| 2005 | 7.74% | 10.09% | — |
Rent as a Fraction of Income
Using median household income data for Lapeer County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lapeer County, median monthly gross rent as a fraction of median household income was 14.45% in 2019 according to the ACS.
Lapeer County Michigan Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Michigan | 17.88% | -0.34% | -0.82% |
| Lapeer County MI | 14.45% | +0.49% | -3.67% |
Trends in Lapeer County MI Rent as a Fraction of Income
The fraction of median Lapeer County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.98%. Since then it has fallen by 5.53% to 14.45%.
Fraction of Income towards Rent: Lapeer County MI, Michigan, US
Historical Data for Annual Rent as a Fraction of Income in Lapeer County Michigan
| Date | US | Michigan | Lapeer County MI |
|---|---|---|---|
| 2019 | 20.03% | 17.88% | 14.45% |
| 2018 | 20.50% | 18.22% | 13.97% |
| 2017 | 20.13% | 18.25% | 14.65% |
| 2016 | 20.43% | 18.70% | 18.12% |
| 2015 | 20.63% | 18.86% | 15.14% |
| 2014 | 20.89% | 18.97% | 18.05% |
| 2013 | 20.78% | 19.09% | 17.58% |
| 2012 | 20.65% | 19.16% | 16.57% |
| 2011 | 20.70% | 19.29% | 19.98% |
| 2010 | 20.50% | 19.29% | 18.15% |
| 2009 | 20.12% | 18.99% | 15.74% |
| 2007 | 18.66% | 17.09% | 13.62% |
| 2005 | 18.89% | 17.07% | 15.95% |
Renter Fraction in Lapeer County Michigan
You can calculate the renter fraction in Lapeer 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 Lapeer County as a fraction of total Lapeer County households. In 2019 15.18% of households were renters according to Census ACS data.
Lapeer County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Michigan | 28.43% | -0.38% | -1.25% |
| Lapeer County MI | 15.18% | +0.26% | -8.59% |
Trends in the Lapeer County MI Renter Fraction
The Lapeer County household renter fraction peaked in in 2016 at 23.77% and is now 8.59% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Lapeer County MI, Michigan, US
History of Lapeer County Renter Fraction
| Date | US | Michigan | Lapeer County MI |
|---|---|---|---|
| 2019 | 35.89% | 28.43% | 15.18% |
| 2018 | 36.05% | 28.81% | 14.92% |
| 2017 | 36.13% | 28.67% | 14.05% |
| 2016 | 36.88% | 29.68% | 23.77% |
| 2015 | 36.97% | 29.58% | 15.53% |
| 2014 | 36.90% | 29.76% | 17.14% |
| 2013 | 36.50% | 29.45% | 20.93% |
| 2012 | 36.09% | 28.94% | 14.66% |
| 2011 | 35.42% | 28.26% | 16.22% |
| 2010 | 34.65% | 27.25% | 16.09% |
| 2009 | 34.13% | 26.81% | 16.01% |
| 2007 | 32.80% | 25.17% | 13.77% |
| 2005 | 33.10% | 25.33% | 15.89% |
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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