Monroe County Michigan Residential Rent and Rental Statistics
The median monthly gross residential rent in Monroe County MI was $827 in 2019 according to the Census ACS survey.1 Average gross rent in Monroe County was $813 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 Monroe County median and average rent data will be released in September of 2021.
Data is also available below for Monroe County rental vacancy rates, Monroe County rent as a percent of median income and the fraction of renters in Monroe County.
Real Gross Rent in Monroe 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% |
| Monroe County MI Median Gross Rent | $827 | -4.17% | +0.61% |
Monroe County MI Real Gross Rent Trends
Median gross rent for Monroe County peaked in real terms in 2018 at $863 and is now $36 (4.17%) lower. Average gross rent for Monroe County peaked in real terms in 2006 at $848 and is now $35 (4.13%) lower. From a recent low of 706.0 in 2013, real average gross rent has now increased by $107 (15.16%).
Real Gross Rent: Monroe County MI Median, Monroe County MI Average, Michigan Median, US Median
Real Gross Rent History for Monroe County
| Date | US Median |
Michigan Median |
Monroe County MI Median |
Monroe County MI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $888 | $827 | $813 |
| 2018 | $1,077 | $877 | $863 | $814 |
| 2017 | $1,043 | $861 | $805 | $775 |
| 2016 | $1,027 | $857 | $822 | $801 |
| 2015 | $1,017 | $852 | $775 | $766 |
| 2014 | $986 | $832 | $783 | $809 |
| 2013 | $953 | $809 | $794 | $706 |
| 2012 | $940 | $796 | $854 | $840 |
| 2011 | $941 | $798 | $838 | $821 |
| 2010 | $955 | $816 | $846 | $811 |
| 2009 | $960 | $816 | $823 | $810 |
| 2007 | $927 | $802 | $797 | $757 |
| 2005 | $910 | $819 | $824 | $793 |
Monroe County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Monroe County Michigan was 3.91% according to Census ACS data.
Rental Vacancy Rate in Monroe County Michigan
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Michigan | 5.56% | +0.74% | +0.15% |
| Monroe County MI | — | — | — |
Trends in Monroe County MI Rental Vacancy Rate
The rental vacancy rate in Monroe County peaked in 2013 at 12.61%. Since then it has fallen by 8.70% to 3.91%. Data records for this series originated in 2005. From a 2016 post peak low of 3.55%, the rental vacancy rate has increased by 0.36%.
Rental Vacancy Rate: Monroe County MI, Michigan, US
Historical Rental Vacancy Rate data for Monroe County
| Date | US | Michigan | Monroe County MI |
|---|---|---|---|
| 2019 | 5.97% | 5.56% | — |
| 2018 | 6.15% | 4.82% | — |
| 2017 | 6.18% | 4.87% | 3.91% |
| 2016 | 5.89% | 5.41% | 3.55% |
| 2015 | 5.85% | 5.19% | — |
| 2014 | 6.32% | 5.88% | — |
| 2013 | 6.49% | 6.04% | 12.61% |
| 2012 | 6.77% | 6.73% | 8.50% |
| 2011 | 7.40% | 7.72% | — |
| 2010 | 8.17% | 9.60% | 11.27% |
| 2009 | 8.43% | 9.48% | 7.76% |
| 2007 | 7.87% | 9.66% | 9.46% |
| 2005 | 7.74% | 10.09% | — |
Rent as a Fraction of Income
Using median household income data for Monroe County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Monroe County, median monthly gross rent as a fraction of median household income was 15.79% in 2019 according to the ACS.
Monroe 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% |
| Monroe County MI | 15.79% | -0.64% | +0.30% |
Trends in Monroe County MI Rent as a Fraction of Income
The fraction of median Monroe County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 19.02%. Since then it has fallen by 3.22% to 15.79%.
Fraction of Income towards Rent: Monroe County MI, Michigan, US
Historical Data for Annual Rent as a Fraction of Income in Monroe County Michigan
| Date | US | Michigan | Monroe County MI |
|---|---|---|---|
| 2019 | 20.03% | 17.88% | 15.79% |
| 2018 | 20.50% | 18.22% | 16.44% |
| 2017 | 20.13% | 18.25% | 15.81% |
| 2016 | 20.43% | 18.70% | 15.49% |
| 2015 | 20.63% | 18.86% | 16.13% |
| 2014 | 20.89% | 18.97% | 15.55% |
| 2013 | 20.78% | 19.09% | 16.89% |
| 2012 | 20.65% | 19.16% | 19.02% |
| 2011 | 20.70% | 19.29% | 17.33% |
| 2010 | 20.50% | 19.29% | 18.16% |
| 2009 | 20.12% | 18.99% | 16.40% |
| 2007 | 18.66% | 17.09% | 15.14% |
| 2005 | 18.89% | 17.07% | 14.21% |
Renter Fraction in Monroe County Michigan
You can calculate the renter fraction in Monroe 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 Monroe County as a fraction of total Monroe County households. In 2019 21.95% of households were renters according to Census ACS data.
Monroe 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% |
| Monroe County MI | 21.95% | +2.19% | +2.00% |
Trends in the Monroe County MI Renter Fraction
The Monroe County household renter fraction peaked in in 2012 at 22.88% and is now 0.93% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Monroe County MI, Michigan, US
History of Monroe County Renter Fraction
| Date | US | Michigan | Monroe County MI |
|---|---|---|---|
| 2019 | 35.89% | 28.43% | 21.95% |
| 2018 | 36.05% | 28.81% | 19.76% |
| 2017 | 36.13% | 28.67% | 20.23% |
| 2016 | 36.88% | 29.68% | 19.95% |
| 2015 | 36.97% | 29.58% | 19.93% |
| 2014 | 36.90% | 29.76% | 21.17% |
| 2013 | 36.50% | 29.45% | 21.31% |
| 2012 | 36.09% | 28.94% | 22.88% |
| 2011 | 35.42% | 28.26% | 20.96% |
| 2010 | 34.65% | 27.25% | 21.24% |
| 2009 | 34.13% | 26.81% | 19.93% |
| 2007 | 32.80% | 25.17% | 19.01% |
| 2005 | 33.10% | 25.33% | 19.92% |
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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