Rankin County Mississippi Residential Rent and Rental Statistics
The median monthly gross residential rent in Rankin County MS was $989 in 2019 according to the Census ACS survey.1 Average gross rent in Rankin County was $927 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 Rankin County median and average rent data will be released in September of 2021.
Data is also available below for Rankin County rental vacancy rates, Rankin County rent as a percent of median income and the fraction of renters in Rankin County.
Real Gross Rent in Rankin 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% |
| Rankin County MS Median Gross Rent | $989 | -6.96% | +8.80% |
Rankin County MS Real Gross Rent Trends
Median gross rent for Rankin County peaked in real terms in 2017 at $1,101 and is now $112 (10.17%) lower. Average gross rent for Rankin County peaked in real terms in 2017 at $1,009 and is now $82 (8.13%) lower.
Real Gross Rent: Rankin County MS Median, Rankin County MS Average, Mississippi Median, US Median
Real Gross Rent History for Rankin County
| Date | US Median |
Mississippi Median |
Rankin County MS Median |
Rankin County MS Average |
|---|---|---|---|---|
| 2019 | $1,097 | $777 | $989 | $927 |
| 2018 | $1,077 | $791 | $1,063 | $975 |
| 2017 | $1,043 | $765 | $1,101 | $1,009 |
| 2016 | $1,027 | $762 | $909 | $861 |
| 2015 | $1,017 | $768 | $970 | $912 |
| 2014 | $986 | $751 | $967 | $908 |
| 2013 | $953 | $746 | $970 | $846 |
| 2012 | $940 | $708 | $877 | $784 |
| 2011 | $941 | $744 | $860 | $971 |
| 2010 | $955 | $751 | $892 | $932 |
| 2009 | $960 | $734 | $945 | $908 |
| 2007 | $927 | $715 | $812 | $753 |
| 2005 | $910 | $673 | $851 | $848 |
Rankin County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Rankin County Mississippi was 9.69% according to Census ACS data.
Rental Vacancy Rate in Rankin County Mississippi
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Mississippi | 10.67% | +0.19% | +2.04% |
| Rankin County MS | — | — | — |
Trends in Rankin County MS Rental Vacancy Rate
The rental vacancy rate in Rankin County peaked in 2014 at 10.36%. Since then it has fallen by 0.67% to 9.69%. Data records for this series originated in 2005.
Rental Vacancy Rate: Rankin County MS, Mississippi, US
Historical Rental Vacancy Rate data for Rankin County
| Date | US | Mississippi | Rankin County MS |
|---|---|---|---|
| 2019 | 5.97% | 10.67% | — |
| 2018 | 6.15% | 10.48% | 9.69% |
| 2017 | 6.18% | 10.71% | — |
| 2016 | 5.89% | 8.63% | — |
| 2015 | 5.85% | 8.89% | — |
| 2014 | 6.32% | 9.10% | 10.36% |
| 2013 | 6.49% | 8.71% | — |
| 2012 | 6.77% | 10.91% | 5.44% |
| 2011 | 7.40% | 13.13% | — |
| 2010 | 8.17% | 12.60% | 6.72% |
| 2009 | 8.43% | 11.34% | — |
| 2007 | 7.87% | 10.16% | 6.01% |
| 2005 | 7.74% | 8.56% | 8.16% |
Rent as a Fraction of Income
Using median household income data for Rankin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rankin County, median monthly gross rent as a fraction of median household income was 17.71% in 2019 according to the ACS.
Rankin 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% |
| Rankin County MS | 17.71% | -1.13% | +1.00% |
Trends in Rankin County MS Rent as a Fraction of Income
The fraction of median Rankin County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 20.02%. Since then it has fallen by 2.31% to 17.71%.
Fraction of Income towards Rent: Rankin County MS, Mississippi, US
Historical Data for Annual Rent as a Fraction of Income in Rankin County Mississippi
| Date | US | Mississippi | Rankin County MS |
|---|---|---|---|
| 2019 | 20.03% | 20.36% | 17.71% |
| 2018 | 20.50% | 20.85% | 18.84% |
| 2017 | 20.13% | 20.46% | 19.40% |
| 2016 | 20.43% | 20.92% | 16.71% |
| 2015 | 20.63% | 21.40% | 19.07% |
| 2014 | 20.89% | 21.50% | 18.71% |
| 2013 | 20.78% | 22.38% | 20.02% |
| 2012 | 20.65% | 21.54% | 17.52% |
| 2011 | 20.70% | 22.39% | 15.55% |
| 2010 | 20.50% | 21.88% | 19.43% |
| 2009 | 20.12% | 21.09% | 19.06% |
| 2007 | 18.66% | 20.11% | 15.77% |
| 2005 | 18.89% | 19.60% | 16.64% |
Renter Fraction in Rankin County Mississippi
You can calculate the renter fraction in Rankin 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 Rankin County as a fraction of total Rankin County households. In 2019 22.71% of households were renters according to Census ACS data.
Rankin 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% |
| Rankin County MS | 22.71% | -0.44% | -0.62% |
Trends in the Rankin County MS Renter Fraction
The Rankin County household renter fraction peaked in in 2013 at 27.79% and is now 5.08% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Rankin County MS, Mississippi, US
History of Rankin County Renter Fraction
| Date | US | Mississippi | Rankin County MS |
|---|---|---|---|
| 2019 | 35.89% | 32.68% | 22.71% |
| 2018 | 36.05% | 31.79% | 23.15% |
| 2017 | 36.13% | 31.50% | 22.59% |
| 2016 | 36.88% | 32.73% | 23.33% |
| 2015 | 36.97% | 32.61% | 27.73% |
| 2014 | 36.90% | 32.33% | 24.52% |
| 2013 | 36.50% | 32.80% | 27.79% |
| 2012 | 36.09% | 31.81% | 26.03% |
| 2011 | 35.42% | 30.19% | 20.83% |
| 2010 | 34.65% | 30.24% | 26.85% |
| 2009 | 34.13% | 30.51% | 24.82% |
| 2007 | 32.80% | 28.71% | 20.43% |
| 2005 | 33.10% | 30.13% | 23.67% |
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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