Ramsey County Minnesota Residential Rent and Rental Statistics
The median monthly gross residential rent in Ramsey County MN was $1,055 in 2019 according to the Census ACS survey.1 Average gross rent in Ramsey County was $1,093 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 Ramsey County median and average rent data will be released in September of 2021.
Data is also available below for Ramsey County rental vacancy rates, Ramsey County rent as a percent of median income and the fraction of renters in Ramsey County.
Real Gross Rent in Ramsey 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% |
| Ramsey County MN Median Gross Rent | $1,055 | +5.61% | +7.22% |
Ramsey County MN Real Gross Rent Trends
At $1,055, real median gross rent in Ramsey County was at its highest level in 2019 since the series began in 2005. At $1,093, real average gross rent in Ramsey County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Ramsey County MN Median, Ramsey County MN Average, Minnesota Median, US Median
Real Gross Rent History for Ramsey County
| Date | US Median |
Minnesota Median |
Ramsey County MN Median |
Ramsey County MN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,016 | $1,055 | $1,093 |
| 2018 | $1,077 | $987 | $999 | $1,059 |
| 2017 | $1,043 | $968 | $1,024 | $1,061 |
| 2016 | $1,027 | $955 | $984 | $1,018 |
| 2015 | $1,017 | $942 | $954 | $1,010 |
| 2014 | $986 | $907 | $915 | $947 |
| 2013 | $953 | $876 | $892 | $931 |
| 2012 | $940 | $865 | $888 | $916 |
| 2011 | $941 | $850 | $874 | $892 |
| 2010 | $955 | $854 | $873 | $905 |
| 2009 | $960 | $863 | $878 | $907 |
| 2007 | $927 | $835 | $880 | $922 |
| 2005 | $910 | $865 | $948 | $974 |
Ramsey 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 Ramsey County Minnesota was 5.06% according to Census ACS data.
Rental Vacancy Rate in Ramsey County Minnesota
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Minnesota | 4.76% | +0.21% | +0.75% |
| Ramsey County MN | 5.06% | -1.20% | +1.40% |
Trends in Ramsey County MN Rental Vacancy Rate
The rental vacancy rate in Ramsey County peaked in 2005 at 9.25%. Since then it has fallen by 4.19% to 5.06%. Data records for this series originated in 2005. From a 2017 post peak low of 2.44%, the rental vacancy rate has increased by 2.62%.
Rental Vacancy Rate: Ramsey County MN, Minnesota, US
Historical Rental Vacancy Rate data for Ramsey County
| Date | US | Minnesota | Ramsey County MN |
|---|---|---|---|
| 2019 | 5.97% | 4.76% | 5.06% |
| 2018 | 6.15% | 4.55% | 6.26% |
| 2017 | 6.18% | 4.31% | 2.44% |
| 2016 | 5.89% | 4.01% | 3.66% |
| 2015 | 5.85% | 4.35% | 4.24% |
| 2014 | 6.32% | 4.53% | 3.15% |
| 2013 | 6.49% | 3.94% | 4.46% |
| 2012 | 6.77% | 4.10% | 2.94% |
| 2011 | 7.40% | 5.37% | 4.07% |
| 2010 | 8.17% | 5.96% | 5.51% |
| 2009 | 8.43% | 5.97% | 5.36% |
| 2007 | 7.87% | 7.07% | 7.42% |
| 2005 | 7.74% | 8.20% | 9.25% |
Rent as a Fraction of Income
Using median household income data for Ramsey County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Ramsey County, median monthly gross rent as a fraction of median household income was 18.38% in 2019 according to the ACS.
Ramsey 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% |
| Ramsey County MN | 18.38% | -0.33% | -0.30% |
Trends in Ramsey County MN Rent as a Fraction of Income
The fraction of median Ramsey County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 19.39%. Since then it has fallen by 1.01% to 18.38%.
Fraction of Income towards Rent: Ramsey County MN, Minnesota, US
Historical Data for Annual Rent as a Fraction of Income in Ramsey County Minnesota
| Date | US | Minnesota | Ramsey County MN |
|---|---|---|---|
| 2019 | 20.03% | 16.34% | 18.38% |
| 2018 | 20.50% | 16.54% | 18.71% |
| 2017 | 20.13% | 16.48% | 19.23% |
| 2016 | 20.43% | 16.68% | 18.69% |
| 2015 | 20.63% | 16.78% | 18.80% |
| 2014 | 20.89% | 16.77% | 18.88% |
| 2013 | 20.78% | 16.45% | 17.92% |
| 2012 | 20.65% | 16.56% | 18.58% |
| 2011 | 20.70% | 16.58% | 18.78% |
| 2010 | 20.50% | 16.53% | 18.69% |
| 2009 | 20.12% | 16.33% | 19.39% |
| 2007 | 18.66% | 15.29% | 17.38% |
| 2005 | 18.89% | 15.96% | 18.23% |
Renter Fraction in Ramsey County Minnesota
You can calculate the renter fraction in Ramsey 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 Ramsey County as a fraction of total Ramsey County households. In 2019 40.45% of households were renters according to Census ACS data.
Ramsey 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% |
| Ramsey County MN | 40.45% | -0.43% | -0.51% |
Trends in the Ramsey County MN Renter Fraction
The Ramsey County household renter fraction peaked in in 2017 at 41.49% and is now 1.04% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Ramsey County MN, Minnesota, US
History of Ramsey County Renter Fraction
| Date | US | Minnesota | Ramsey County MN |
|---|---|---|---|
| 2019 | 35.89% | 28.08% | 40.45% |
| 2018 | 36.05% | 28.55% | 40.88% |
| 2017 | 36.13% | 28.43% | 41.49% |
| 2016 | 36.88% | 28.70% | 40.96% |
| 2015 | 36.97% | 29.06% | 40.89% |
| 2014 | 36.90% | 28.31% | 41.46% |
| 2013 | 36.50% | 28.45% | 40.61% |
| 2012 | 36.09% | 28.56% | 40.98% |
| 2011 | 35.42% | 27.24% | 41.02% |
| 2010 | 34.65% | 26.98% | 39.38% |
| 2009 | 34.13% | 26.29% | 38.50% |
| 2007 | 32.80% | 24.76% | 34.76% |
| 2005 | 33.10% | 24.23% | 33.61% |
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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