Madison County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Madison County NY was $817 in 2019 according to the Census ACS survey.1 Average gross rent in Madison County was $766 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 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% |
| Madison County NY Median Gross Rent | $817 | +5.56% | +10.70% |
Madison County NY Real Gross Rent Trends
Median gross rent for Madison County peaked in real terms in 2014 at $818 and is now $1 (0.12%) lower. Average gross rent for Madison County peaked in real terms in 2008 at $814 and is now $48 (5.90%) lower.
Real Gross Rent: Madison County NY Median, Madison County NY Average, New York Median, US Median
Real Gross Rent History for Madison County
| Date | US Median |
New York Median |
Madison County NY Median |
Madison County NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $817 | $766 |
| 2018 | $1,077 | $1,297 | $774 | $744 |
| 2017 | $1,043 | $1,264 | $805 | $716 |
| 2016 | $1,027 | $1,250 | $738 | $729 |
| 2015 | $1,017 | $1,244 | $783 | $679 |
| 2014 | $986 | $1,212 | $818 | $684 |
| 2013 | $953 | $1,168 | $722 | $688 |
| 2012 | $940 | $1,148 | $748 | $732 |
| 2011 | $941 | $1,143 | $723 | $714 |
| 2010 | $955 | $1,140 | $772 | $746 |
| 2009 | $960 | $1,121 | $800 | $802 |
| 2007 | $927 | $1,066 | $743 | $649 |
| 2005 | $910 | $1,051 | $773 | $701 |
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 New York was 6.59% according to Census ACS data.
Rental Vacancy Rate in Madison 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% |
| Madison County NY | 6.59% | +2.26% | — |
Trends in Madison County NY Rental Vacancy Rate
The rental vacancy rate in Madison County peaked in 2009 at 15.33%. Since then it has fallen by 8.74% to 6.59%. Data records for this series originated in 2005. From a 2011 post peak low of 0.55%, the rental vacancy rate has increased by 6.04%.
Rental Vacancy Rate: Madison County NY, New York, US
Historical Rental Vacancy Rate data for Madison County
| Date | US | New York | Madison County NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | 6.59% |
| 2018 | 6.15% | 4.20% | 4.33% |
| 2017 | 6.18% | 4.19% | 3.76% |
| 2016 | 5.89% | 4.42% | — |
| 2015 | 5.85% | 4.41% | 7.02% |
| 2014 | 6.32% | 4.34% | 6.28% |
| 2013 | 6.49% | 4.17% | 5.07% |
| 2012 | 6.77% | 4.34% | 6.72% |
| 2011 | 7.40% | 4.48% | 0.55% |
| 2010 | 8.17% | 5.03% | 8.18% |
| 2009 | 8.43% | 4.78% | 15.33% |
| 2007 | 7.87% | 4.70% | — |
| 2005 | 7.74% | 4.80% | — |
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 15.58% in 2019 according to the ACS.
Madison 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% |
| Madison County NY | 15.58% | +0.30% | +1.63% |
Trends in Madison County NY Rent as a Fraction of Income
The fraction of median Madison County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 17.93%. Since then it has fallen by 2.35% to 15.58%. From a 2016 low of 13.95%, the fraction of income going to rent has increased by 1.63%.
Fraction of Income towards Rent: Madison County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Madison County New York
| Date | US | New York | Madison County NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 15.58% |
| 2018 | 20.50% | 22.53% | 15.28% |
| 2017 | 20.13% | 22.67% | 16.42% |
| 2016 | 20.43% | 22.78% | 13.95% |
| 2015 | 20.63% | 23.13% | 14.69% |
| 2014 | 20.89% | 23.40% | 17.93% |
| 2013 | 20.78% | 23.20% | 15.74% |
| 2012 | 20.65% | 22.94% | 17.58% |
| 2011 | 20.70% | 22.98% | 16.00% |
| 2010 | 20.50% | 22.60% | 15.64% |
| 2009 | 20.12% | 21.60% | 15.98% |
| 2007 | 18.66% | 20.34% | 14.15% |
| 2005 | 18.89% | 20.40% | 16.37% |
Renter Fraction in Madison County New York
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 21.87% 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% |
| New York | 46.48% | +0.15% | -0.24% |
| Madison County NY | 21.87% | -0.39% | +0.77% |
Trends in the Madison County NY Renter Fraction
The Madison County household renter fraction peaked in in 2013 at 26.50% and is now 4.63% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Madison County NY, New York, US
History of Madison County Renter Fraction
| Date | US | New York | Madison County NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 21.87% |
| 2018 | 36.05% | 46.33% | 22.26% |
| 2017 | 36.13% | 46.20% | 21.96% |
| 2016 | 36.88% | 46.72% | 21.10% |
| 2015 | 36.97% | 46.93% | 22.55% |
| 2014 | 36.90% | 47.02% | 25.24% |
| 2013 | 36.50% | 46.35% | 26.50% |
| 2012 | 36.09% | 46.35% | 24.85% |
| 2011 | 35.42% | 46.41% | 24.30% |
| 2010 | 34.65% | 45.75% | 22.75% |
| 2009 | 34.13% | 44.97% | 24.72% |
| 2007 | 32.80% | 44.48% | 23.96% |
| 2005 | 33.10% | 44.67% | 23.32% |
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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