Rensselaer County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Rensselaer County NY was $1,034 in 2019 according to the Census ACS survey.1 Average gross rent in Rensselaer County was $1,017 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 Rensselaer County median and average rent data will be released in September of 2021.
Data is also available below for Rensselaer County rental vacancy rates, Rensselaer County rent as a percent of median income and the fraction of renters in Rensselaer County.
Real Gross Rent in Rensselaer 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% |
| Rensselaer County NY Median Gross Rent | $1,034 | +3.92% | +13.50% |
Rensselaer County NY Real Gross Rent Trends
At $1,034, real median gross rent in Rensselaer County was at its highest level in 2019 since the series began in 2005. Average gross rent for Rensselaer County peaked in real terms in 2018 at $1,020 and is now $3 (0.29%) lower.
Real Gross Rent: Rensselaer County NY Median, Rensselaer County NY Average, New York Median, US Median
Real Gross Rent History for Rensselaer County
| Date | US Median |
New York Median |
Rensselaer County NY Median |
Rensselaer County NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $1,034 | $1,017 |
| 2018 | $1,077 | $1,297 | $995 | $1,020 |
| 2017 | $1,043 | $1,264 | $941 | $969 |
| 2016 | $1,027 | $1,250 | $911 | $919 |
| 2015 | $1,017 | $1,244 | $924 | $926 |
| 2014 | $986 | $1,212 | $989 | $945 |
| 2013 | $953 | $1,168 | $868 | $880 |
| 2012 | $940 | $1,148 | $894 | $868 |
| 2011 | $941 | $1,143 | $880 | $835 |
| 2010 | $955 | $1,140 | $889 | $916 |
| 2009 | $960 | $1,121 | $929 | $897 |
| 2007 | $927 | $1,066 | $844 | $829 |
| 2005 | $910 | $1,051 | $829 | $785 |
Rensselaer 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 Rensselaer County New York was 6.66% according to Census ACS data.
Rental Vacancy Rate in Rensselaer 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% |
| Rensselaer County NY | 6.66% | — | +3.60% |
Trends in Rensselaer County NY Rental Vacancy Rate
The rental vacancy rate in Rensselaer County peaked in 2005 at 10.38%. Since then it has fallen by 3.72% to 6.66%. Data records for this series originated in 2005. From a 2013 post peak low of 2.12%, the rental vacancy rate has increased by 4.54%.
Rental Vacancy Rate: Rensselaer County NY, New York, US
Historical Rental Vacancy Rate data for Rensselaer County
| Date | US | New York | Rensselaer County NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | 6.66% |
| 2018 | 6.15% | 4.20% | — |
| 2017 | 6.18% | 4.19% | 5.13% |
| 2016 | 5.89% | 4.42% | 3.06% |
| 2015 | 5.85% | 4.41% | 4.00% |
| 2014 | 6.32% | 4.34% | 3.34% |
| 2013 | 6.49% | 4.17% | 2.12% |
| 2012 | 6.77% | 4.34% | — |
| 2011 | 7.40% | 4.48% | 2.34% |
| 2010 | 8.17% | 5.03% | — |
| 2009 | 8.43% | 4.78% | 7.48% |
| 2007 | 7.87% | 4.70% | 5.48% |
| 2005 | 7.74% | 4.80% | 10.38% |
Rent as a Fraction of Income
Using median household income data for Rensselaer County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rensselaer County, median monthly gross rent as a fraction of median household income was 17.34% in 2019 according to the ACS.
Rensselaer 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% |
| Rensselaer County NY | 17.34% | +0.97% | +1.51% |
Trends in Rensselaer County NY Rent as a Fraction of Income
The fraction of median Rensselaer County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 18.49%. Since then it has fallen by 1.16% to 17.34%. From a 2016 low of 15.83%, the fraction of income going to rent has increased by 1.51%.
Fraction of Income towards Rent: Rensselaer County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Rensselaer County New York
| Date | US | New York | Rensselaer County NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 17.34% |
| 2018 | 20.50% | 22.53% | 16.36% |
| 2017 | 20.13% | 22.67% | 17.11% |
| 2016 | 20.43% | 22.78% | 15.83% |
| 2015 | 20.63% | 23.13% | 17.19% |
| 2014 | 20.89% | 23.40% | 18.30% |
| 2013 | 20.78% | 23.20% | 17.22% |
| 2012 | 20.65% | 22.94% | 16.62% |
| 2011 | 20.70% | 22.98% | 16.59% |
| 2010 | 20.50% | 22.60% | 18.49% |
| 2009 | 20.12% | 21.60% | 17.57% |
| 2007 | 18.66% | 20.34% | 16.94% |
| 2005 | 18.89% | 20.40% | 16.68% |
Renter Fraction in Rensselaer County New York
You can calculate the renter fraction in Rensselaer 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 Rensselaer County as a fraction of total Rensselaer County households. In 2019 38.86% of households were renters according to Census ACS data.
Rensselaer 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% |
| Rensselaer County NY | 38.86% | +2.09% | +2.01% |
Trends in the Rensselaer County NY Renter Fraction
At 38.86%, the 2019 household based renter fraction in Rensselaer County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Rensselaer County NY, New York, US
History of Rensselaer County Renter Fraction
| Date | US | New York | Rensselaer County NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 38.86% |
| 2018 | 36.05% | 46.33% | 36.77% |
| 2017 | 36.13% | 46.20% | 37.06% |
| 2016 | 36.88% | 46.72% | 36.85% |
| 2015 | 36.97% | 46.93% | 35.52% |
| 2014 | 36.90% | 47.02% | 36.25% |
| 2013 | 36.50% | 46.35% | 35.33% |
| 2012 | 36.09% | 46.35% | 34.86% |
| 2011 | 35.42% | 46.41% | 33.60% |
| 2010 | 34.65% | 45.75% | 35.57% |
| 2009 | 34.13% | 44.97% | 34.92% |
| 2007 | 32.80% | 44.48% | 35.02% |
| 2005 | 33.10% | 44.67% | 33.71% |
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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