Cayuga County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Cayuga County NY was $745 in 2019 according to the Census ACS survey.1 Average gross rent in Cayuga County was $716 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 Cayuga County median and average rent data will be released in September of 2021.
Data is also available below for Cayuga County rental vacancy rates, Cayuga County rent as a percent of median income and the fraction of renters in Cayuga County.
Real Gross Rent in Cayuga County New York (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| New York Median Gross Rent | $1,309 | +0.93% | +4.72% |
| Cayuga County NY Median Gross Rent | $745 | -4.61% | -2.61% |
Cayuga County NY Real Gross Rent Trends
Median gross rent for Cayuga County peaked in real terms in 2018 at $781 and is now $36 (4.61%) lower. Average gross rent for Cayuga County peaked in real terms in 2018 at $788 and is now $72 (9.14%) lower.
Real Gross Rent: Cayuga County NY Median, Cayuga County NY Average, New York Median, US Median
Real Gross Rent History for Cayuga County
| Date | US Median |
New York Median |
Cayuga County NY Median |
Cayuga County NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $745 | $716 |
| 2018 | $1,077 | $1,297 | $781 | $788 |
| 2017 | $1,043 | $1,264 | $759 | $704 |
| 2016 | $1,027 | $1,250 | $765 | $755 |
| 2015 | $1,017 | $1,244 | $736 | $761 |
| 2014 | $986 | $1,212 | $735 | $687 |
| 2013 | $953 | $1,168 | $673 | $673 |
| 2012 | $940 | $1,148 | $694 | $646 |
| 2011 | $941 | $1,143 | $646 | $584 |
| 2010 | $955 | $1,140 | $727 | $715 |
| 2009 | $960 | $1,121 | $732 | $720 |
| 2007 | $927 | $1,066 | $752 | $704 |
| 2005 | $910 | $1,051 | $673 | $649 |
Cayuga County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Cayuga County New York was 6.27% according to Census ACS data.
Rental Vacancy Rate in Cayuga County New York
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| New York | 4.00% | -0.20% | -0.42% |
| Cayuga County NY | — | — | — |
Trends in Cayuga County NY Rental Vacancy Rate
The rental vacancy rate in Cayuga County peaked in 2010 at 9.58%. Since then it has fallen by 3.31% to 6.27%. Data records for this series originated in 2005. From a 2014 post peak low of 1.25%, the rental vacancy rate has increased by 5.02%.
Rental Vacancy Rate: Cayuga County NY, New York, US
Historical Rental Vacancy Rate data for Cayuga County
| Date | US | New York | Cayuga County NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | — |
| 2018 | 6.15% | 4.20% | — |
| 2017 | 6.18% | 4.19% | — |
| 2016 | 5.89% | 4.42% | 6.27% |
| 2015 | 5.85% | 4.41% | 7.77% |
| 2014 | 6.32% | 4.34% | 1.25% |
| 2013 | 6.49% | 4.17% | 1.39% |
| 2012 | 6.77% | 4.34% | 4.60% |
| 2011 | 7.40% | 4.48% | 3.55% |
| 2010 | 8.17% | 5.03% | 9.58% |
| 2009 | 8.43% | 4.78% | 2.24% |
| 2007 | 7.87% | 4.70% | 2.50% |
| 2005 | 7.74% | 4.80% | 2.69% |
Rent as a Fraction of Income
Using median household income data for Cayuga County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cayuga County, median monthly gross rent as a fraction of median household income was 15.24% in 2019 according to the ACS.
Cayuga County New York Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| New York | 21.78% | -0.75% | -0.99% |
| Cayuga County NY | 15.24% | -2.33% | -0.71% |
Trends in Cayuga County NY Rent as a Fraction of Income
The fraction of median Cayuga County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 17.57%. Since then it has fallen by 2.33% to 15.24%.
Fraction of Income towards Rent: Cayuga County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Cayuga County New York
| Date | US | New York | Cayuga County NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 15.24% |
| 2018 | 20.50% | 22.53% | 17.57% |
| 2017 | 20.13% | 22.67% | 15.60% |
| 2016 | 20.43% | 22.78% | 15.95% |
| 2015 | 20.63% | 23.13% | 15.67% |
| 2014 | 20.89% | 23.40% | 15.53% |
| 2013 | 20.78% | 23.20% | 15.29% |
| 2012 | 20.65% | 22.94% | 15.63% |
| 2011 | 20.70% | 22.98% | 14.57% |
| 2010 | 20.50% | 22.60% | 15.90% |
| 2009 | 20.12% | 21.60% | 15.55% |
| 2007 | 18.66% | 20.34% | 16.84% |
| 2005 | 18.89% | 20.40% | 15.35% |
Renter Fraction in Cayuga County New York
You can calculate the renter fraction in Cayuga 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 Cayuga County as a fraction of total Cayuga County households. In 2019 26.85% of households were renters according to Census ACS data.
Cayuga County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| New York | 46.48% | +0.15% | -0.24% |
| Cayuga County NY | 26.85% | -2.96% | -2.64% |
Trends in the Cayuga County NY Renter Fraction
The Cayuga County household renter fraction peaked in in 2014 at 30.22% and is now 3.37% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Cayuga County NY, New York, US
History of Cayuga County Renter Fraction
| Date | US | New York | Cayuga County NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 26.85% |
| 2018 | 36.05% | 46.33% | 29.81% |
| 2017 | 36.13% | 46.20% | 27.65% |
| 2016 | 36.88% | 46.72% | 29.49% |
| 2015 | 36.97% | 46.93% | 29.76% |
| 2014 | 36.90% | 47.02% | 30.22% |
| 2013 | 36.50% | 46.35% | 27.81% |
| 2012 | 36.09% | 46.35% | 28.50% |
| 2011 | 35.42% | 46.41% | 28.50% |
| 2010 | 34.65% | 45.75% | 26.14% |
| 2009 | 34.13% | 44.97% | 29.54% |
| 2007 | 32.80% | 44.48% | 27.07% |
| 2005 | 33.10% | 44.67% | 27.91% |
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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