Madison County Mississippi Residential Rent and Rental Statistics
The median monthly gross residential rent in Madison County MS was $907 in 2019 according to the Census ACS survey.1 Average gross rent in Madison County was $900 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 Madison County median and average rent data will be released in September of 2021.
Data is also available below for Madison County rental vacancy rates, Madison County rent as a percent of median income and the fraction of renters in Madison County.
Real Gross Rent in Madison County Mississippi (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Mississippi Median Gross Rent | $777 | -1.77% | +1.97% |
| Madison County MS Median Gross Rent | $907 | -6.97% | -2.47% |
Madison County MS Real Gross Rent Trends
Median gross rent for Madison County peaked in real terms in 2008 at $987 and is now $80 (8.11%) lower. From a recent low of 821.0 in 2011, real median gross rent has now increased by $86 (10.48%). Average gross rent for Madison County peaked in real terms in 2010 at $1,031 and is now $131 (12.71%) lower.
Real Gross Rent: Madison County MS Median, Madison County MS Average, Mississippi Median, US Median
Real Gross Rent History for Madison County
| Date | US Median |
Mississippi Median |
Madison County MS Median |
Madison County MS Average |
|---|---|---|---|---|
| 2019 | $1,097 | $777 | $907 | $900 |
| 2018 | $1,077 | $791 | $975 | $967 |
| 2017 | $1,043 | $765 | $902 | $928 |
| 2016 | $1,027 | $762 | $930 | $927 |
| 2015 | $1,017 | $768 | $979 | $969 |
| 2014 | $986 | $751 | $983 | $1,030 |
| 2013 | $953 | $746 | $927 | $950 |
| 2012 | $940 | $708 | $908 | $878 |
| 2011 | $941 | $744 | $821 | $860 |
| 2010 | $955 | $751 | $965 | $1,031 |
| 2009 | $960 | $734 | $887 | $784 |
| 2007 | $927 | $715 | $888 | $868 |
| 2005 | $910 | $673 | $939 | $933 |
Madison 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 Madison County Mississippi was 8.05% according to Census ACS data.
Rental Vacancy Rate in Madison County Mississippi
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Mississippi | 10.67% | +0.19% | +2.04% |
| Madison County MS | 8.05% | — | — |
Trends in Madison County MS Rental Vacancy Rate
The rental vacancy rate in Madison County peaked in 2008 at 9.54%. Since then it has fallen by 1.49% to 8.05%. Data records for this series originated in 2005. From a 2013 post peak low of 4.98%, the rental vacancy rate has increased by 3.07%.
Rental Vacancy Rate: Madison County MS, Mississippi, US
Historical Rental Vacancy Rate data for Madison County
| Date | US | Mississippi | Madison County MS |
|---|---|---|---|
| 2019 | 5.97% | 10.67% | 8.05% |
| 2018 | 6.15% | 10.48% | — |
| 2017 | 6.18% | 10.71% | — |
| 2016 | 5.89% | 8.63% | — |
| 2015 | 5.85% | 8.89% | — |
| 2014 | 6.32% | 9.10% | 5.96% |
| 2013 | 6.49% | 8.71% | 4.98% |
| 2012 | 6.77% | 10.91% | — |
| 2011 | 7.40% | 13.13% | — |
| 2010 | 8.17% | 12.60% | — |
| 2009 | 8.43% | 11.34% | — |
| 2007 | 7.87% | 10.16% | — |
| 2005 | 7.74% | 8.56% | — |
Rent as a Fraction of Income
Using median household income data for Madison County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Madison County, median monthly gross rent as a fraction of median household income was 15.97% in 2019 according to the ACS.
Madison County Mississippi Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Mississippi | 20.36% | -0.49% | -0.56% |
| Madison County MS | 15.97% | +0.84% | -0.59% |
Trends in Madison County MS Rent as a Fraction of Income
The fraction of median Madison County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 18.73%. Since then it has fallen by 2.76% to 15.97%.
Fraction of Income towards Rent: Madison County MS, Mississippi, US
Historical Data for Annual Rent as a Fraction of Income in Madison County Mississippi
| Date | US | Mississippi | Madison County MS |
|---|---|---|---|
| 2019 | 20.03% | 20.36% | 15.97% |
| 2018 | 20.50% | 20.85% | 15.13% |
| 2017 | 20.13% | 20.46% | 15.37% |
| 2016 | 20.43% | 20.92% | 16.56% |
| 2015 | 20.63% | 21.40% | 16.31% |
| 2014 | 20.89% | 21.50% | 16.49% |
| 2013 | 20.78% | 22.38% | 15.90% |
| 2012 | 20.65% | 21.54% | 17.04% |
| 2011 | 20.70% | 22.39% | 17.24% |
| 2010 | 20.50% | 21.88% | 18.73% |
| 2009 | 20.12% | 21.09% | 17.74% |
| 2007 | 18.66% | 20.11% | 14.91% |
| 2005 | 18.89% | 19.60% | 17.51% |
Renter Fraction in Madison County Mississippi
You can calculate the renter fraction in Madison 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 Madison County as a fraction of total Madison County households. In 2019 25.51% of households were renters according to Census ACS data.
Madison County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Mississippi | 32.68% | +0.89% | -0.05% |
| Madison County MS | 25.51% | +0.59% | -3.25% |
Trends in the Madison County MS Renter Fraction
The Madison County household renter fraction peaked in in 2009 at 33.65% and is now 8.14% below that level. From a recent low of 24.92% in 2018, the household based renter fraction has now grown by 0.59%. The origin year for the series is 2005.
Fraction of Renting Households: Madison County MS, Mississippi, US
History of Madison County Renter Fraction
| Date | US | Mississippi | Madison County MS |
|---|---|---|---|
| 2019 | 35.89% | 32.68% | 25.51% |
| 2018 | 36.05% | 31.79% | 24.92% |
| 2017 | 36.13% | 31.50% | 31.54% |
| 2016 | 36.88% | 32.73% | 28.76% |
| 2015 | 36.97% | 32.61% | 29.79% |
| 2014 | 36.90% | 32.33% | 25.27% |
| 2013 | 36.50% | 32.80% | 30.24% |
| 2012 | 36.09% | 31.81% | 32.17% |
| 2011 | 35.42% | 30.19% | 26.02% |
| 2010 | 34.65% | 30.24% | 29.79% |
| 2009 | 34.13% | 30.51% | 33.65% |
| 2007 | 32.80% | 28.71% | 29.64% |
| 2005 | 33.10% | 30.13% | 32.10% |
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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