Dakota County Minnesota Residential Rent and Rental Statistics
The median monthly gross residential rent in Dakota County MN was $1,233 in 2019 according to the Census ACS survey.1 Average gross rent in Dakota County was $1,233 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 Dakota County median and average rent data will be released in September of 2021.
Data is also available below for Dakota County rental vacancy rates, Dakota County rent as a percent of median income and the fraction of renters in Dakota County.
Real Gross Rent in Dakota 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% |
| Dakota County MN Median Gross Rent | $1,233 | +4.14% | +10.58% |
Dakota County MN Real Gross Rent Trends
At $1,233, real median gross rent in Dakota County was at its highest level in 2019 since the series began in 2005. At $1,233, real average gross rent in Dakota County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Dakota County MN Median, Dakota County MN Average, Minnesota Median, US Median
Real Gross Rent History for Dakota County
| Date | US Median |
Minnesota Median |
Dakota County MN Median |
Dakota County MN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,016 | $1,233 | $1,233 |
| 2018 | $1,077 | $987 | $1,184 | $1,201 |
| 2017 | $1,043 | $968 | $1,175 | $1,195 |
| 2016 | $1,027 | $955 | $1,115 | $1,118 |
| 2015 | $1,017 | $942 | $1,105 | $1,110 |
| 2014 | $986 | $907 | $1,046 | $1,114 |
| 2013 | $953 | $876 | $1,014 | $1,060 |
| 2012 | $940 | $865 | $987 | $1,027 |
| 2011 | $941 | $850 | $949 | $996 |
| 2010 | $955 | $854 | $991 | $1,035 |
| 2009 | $960 | $863 | $1,025 | $1,076 |
| 2007 | $927 | $835 | $1,015 | $1,042 |
| 2005 | $910 | $865 | $1,034 | $1,074 |
Dakota County 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 Dakota County Minnesota was 6.05% according to Census ACS data.
Rental Vacancy Rate in Dakota County Minnesota
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Minnesota | 4.76% | +0.21% | +0.75% |
| Dakota County MN | 6.05% | +2.91% | +2.98% |
Trends in Dakota County MN Rental Vacancy Rate
The rental vacancy rate in Dakota County peaked in 2008 at 8.47%. Since then it has fallen by 2.42% to 6.05%. Data records for this series originated in 2005. From a 2012 post peak low of 2.45%, the rental vacancy rate has increased by 3.60%.
Rental Vacancy Rate: Dakota County MN, Minnesota, US
Historical Rental Vacancy Rate data for Dakota County
| Date | US | Minnesota | Dakota County MN |
|---|---|---|---|
| 2019 | 5.97% | 4.76% | 6.05% |
| 2018 | 6.15% | 4.55% | 3.14% |
| 2017 | 6.18% | 4.31% | 2.55% |
| 2016 | 5.89% | 4.01% | 3.07% |
| 2015 | 5.85% | 4.35% | 3.27% |
| 2014 | 6.32% | 4.53% | 5.91% |
| 2013 | 6.49% | 3.94% | 2.98% |
| 2012 | 6.77% | 4.10% | 2.45% |
| 2011 | 7.40% | 5.37% | 7.28% |
| 2010 | 8.17% | 5.96% | 4.63% |
| 2009 | 8.43% | 5.97% | 8.20% |
| 2007 | 7.87% | 7.07% | 6.95% |
| 2005 | 7.74% | 8.20% | 7.40% |
Rent as a Fraction of Income
Using median household income data for Dakota County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Dakota County, median monthly gross rent as a fraction of median household income was 16.65% in 2019 according to the ACS.
Dakota 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% |
| Dakota County MN | 16.65% | +0.48% | +0.40% |
Trends in Dakota County MN Rent as a Fraction of Income
The fraction of median Dakota County household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 16.92%. Since then it has fallen by 0.27% to 16.65%.
Fraction of Income towards Rent: Dakota County MN, Minnesota, US
Historical Data for Annual Rent as a Fraction of Income in Dakota County Minnesota
| Date | US | Minnesota | Dakota County MN |
|---|---|---|---|
| 2019 | 20.03% | 16.34% | 16.65% |
| 2018 | 20.50% | 16.54% | 16.17% |
| 2017 | 20.13% | 16.48% | 16.92% |
| 2016 | 20.43% | 16.68% | 16.25% |
| 2015 | 20.63% | 16.78% | 16.20% |
| 2014 | 20.89% | 16.77% | 15.60% |
| 2013 | 20.78% | 16.45% | 15.73% |
| 2012 | 20.65% | 16.56% | 15.60% |
| 2011 | 20.70% | 16.58% | 15.09% |
| 2010 | 20.50% | 16.53% | 15.31% |
| 2009 | 20.12% | 16.33% | 15.51% |
| 2007 | 18.66% | 15.29% | 13.92% |
| 2005 | 18.89% | 15.96% | 14.93% |
Renter Fraction in Dakota County Minnesota
You can calculate the renter fraction in Dakota 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 Dakota County as a fraction of total Dakota County households. In 2019 24.99% of households were renters according to Census ACS data.
Dakota 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% |
| Dakota County MN | 24.99% | -0.79% | -1.38% |
Trends in the Dakota County MN Renter Fraction
The Dakota County household renter fraction peaked in in 2017 at 26.80% and is now 1.81% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Dakota County MN, Minnesota, US
History of Dakota County Renter Fraction
| Date | US | Minnesota | Dakota County MN |
|---|---|---|---|
| 2019 | 35.89% | 28.08% | 24.99% |
| 2018 | 36.05% | 28.55% | 25.78% |
| 2017 | 36.13% | 28.43% | 26.80% |
| 2016 | 36.88% | 28.70% | 26.37% |
| 2015 | 36.97% | 29.06% | 26.52% |
| 2014 | 36.90% | 28.31% | 25.16% |
| 2013 | 36.50% | 28.45% | 26.57% |
| 2012 | 36.09% | 28.56% | 26.36% |
| 2011 | 35.42% | 27.24% | 23.34% |
| 2010 | 34.65% | 26.98% | 24.73% |
| 2009 | 34.13% | 26.29% | 22.05% |
| 2007 | 32.80% | 24.76% | 20.15% |
| 2005 | 33.10% | 24.23% | 20.48% |
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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