Carver County Minnesota Residential Rent and Rental Statistics
The median monthly gross residential rent in Carver County MN was $1,232 in 2019 according to the Census ACS survey.1 Average gross rent in Carver County was $1,240 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 Carver County median and average rent data will be released in September of 2021.
Data is also available below for Carver County rental vacancy rates, Carver County rent as a percent of median income and the fraction of renters in Carver County.
Real Gross Rent in Carver County Minnesota (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Minnesota Median Gross Rent | $1,016 | +2.94% | +6.39% |
| Carver County MN Median Gross Rent | $1,232 | +6.21% | +18.80% |
Carver County MN Real Gross Rent Trends
At $1,232, real median gross rent in Carver County was at its highest level in 2019 since the series began in 2005. At $1,240, real average gross rent in Carver County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Carver County MN Median, Carver County MN Average, Minnesota Median, US Median
Real Gross Rent History for Carver County
| Date | US Median |
Minnesota Median |
Carver County MN Median |
Carver County MN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,016 | $1,232 | $1,240 |
| 2018 | $1,077 | $987 | $1,160 | $1,217 |
| 2017 | $1,043 | $968 | $1,156 | $1,198 |
| 2016 | $1,027 | $955 | $1,037 | $1,086 |
| 2015 | $1,017 | $942 | $1,043 | $1,126 |
| 2014 | $986 | $907 | $983 | $1,004 |
| 2013 | $953 | $876 | $1,036 | $1,074 |
| 2012 | $940 | $865 | $952 | $988 |
| 2011 | $941 | $850 | $979 | $1,088 |
| 2010 | $955 | $854 | $961 | $974 |
| 2009 | $960 | $863 | $996 | $957 |
| 2007 | $927 | $835 | $949 | $860 |
| 2005 | $910 | $865 | $974 | $1,011 |
Carver 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 Carver County Minnesota was 5.85% according to Census ACS data.
Rental Vacancy Rate in Carver County Minnesota
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Minnesota | 4.76% | +0.21% | +0.75% |
| Carver County MN | — | — | — |
Trends in Carver County MN Rental Vacancy Rate
At 5.85%, Carver County residential rental vacancy rate in 2017 is at the highest point since 2005, the beginning of our reporting for this series.
Rental Vacancy Rate: Carver County MN, Minnesota, US
Historical Rental Vacancy Rate data for Carver County
| Date | US | Minnesota | Carver County MN |
|---|---|---|---|
| 2019 | 5.97% | 4.76% | — |
| 2018 | 6.15% | 4.55% | — |
| 2017 | 6.18% | 4.31% | 5.85% |
| 2016 | 5.89% | 4.01% | — |
| 2015 | 5.85% | 4.35% | 0.00% |
| 2014 | 6.32% | 4.53% | — |
| 2013 | 6.49% | 3.94% | — |
| 2012 | 6.77% | 4.10% | — |
| 2011 | 7.40% | 5.37% | — |
| 2010 | 8.17% | 5.96% | — |
| 2009 | 8.43% | 5.97% | — |
| 2007 | 7.87% | 7.07% | — |
| 2005 | 7.74% | 8.20% | — |
Rent as a Fraction of Income
Using median household income data for Carver County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Carver County, median monthly gross rent as a fraction of median household income was 14.57% in 2019 according to the ACS.
Carver County Minnesota Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Minnesota | 16.34% | -0.19% | -0.34% |
| Carver County MN | 14.57% | +0.95% | +1.73% |
Trends in Carver County MN Rent as a Fraction of Income
Carver County renters paid 14.57% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Carver County MN, Minnesota, US
Historical Data for Annual Rent as a Fraction of Income in Carver County Minnesota
| Date | US | Minnesota | Carver County MN |
|---|---|---|---|
| 2019 | 20.03% | 16.34% | 14.57% |
| 2018 | 20.50% | 16.54% | 13.62% |
| 2017 | 20.13% | 16.48% | 13.28% |
| 2016 | 20.43% | 16.68% | 12.85% |
| 2015 | 20.63% | 16.78% | 12.73% |
| 2014 | 20.89% | 16.77% | 13.36% |
| 2013 | 20.78% | 16.45% | 14.34% |
| 2012 | 20.65% | 16.56% | 12.91% |
| 2011 | 20.70% | 16.58% | 13.04% |
| 2010 | 20.50% | 16.53% | 12.87% |
| 2009 | 20.12% | 16.33% | 14.43% |
| 2007 | 18.66% | 15.29% | 12.28% |
| 2005 | 18.89% | 15.96% | 12.81% |
Renter Fraction in Carver County Minnesota
You can calculate the renter fraction in Carver 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 Carver County as a fraction of total Carver County households. In 2019 16.23% of households were renters according to Census ACS data.
Carver County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Minnesota | 28.08% | -0.47% | -0.62% |
| Carver County MN | 16.23% | -1.65% | -4.46% |
Trends in the Carver County MN Renter Fraction
The Carver County household renter fraction peaked in in 2012 at 21.85% and is now 5.62% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Carver County MN, Minnesota, US
History of Carver County Renter Fraction
| Date | US | Minnesota | Carver County MN |
|---|---|---|---|
| 2019 | 35.89% | 28.08% | 16.23% |
| 2018 | 36.05% | 28.55% | 17.88% |
| 2017 | 36.13% | 28.43% | 15.17% |
| 2016 | 36.88% | 28.70% | 20.69% |
| 2015 | 36.97% | 29.06% | 19.99% |
| 2014 | 36.90% | 28.31% | 19.48% |
| 2013 | 36.50% | 28.45% | 19.15% |
| 2012 | 36.09% | 28.56% | 21.85% |
| 2011 | 35.42% | 27.24% | 16.51% |
| 2010 | 34.65% | 26.98% | 17.46% |
| 2009 | 34.13% | 26.29% | 17.96% |
| 2007 | 32.80% | 24.76% | 16.58% |
| 2005 | 33.10% | 24.23% | 19.91% |
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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