Richmond County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Richmond County NY was $1,299 in 2019 according to the Census ACS survey.1 Average gross rent in Richmond County was $1,162 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 Richmond County median and average rent data will be released in September of 2021.
Data is also available below for Richmond County rental vacancy rates, Richmond County rent as a percent of median income and the fraction of renters in Richmond County.
Real Gross Rent in Richmond 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% |
| Richmond County NY Median Gross Rent | $1,299 | -1.14% | -0.38% |
Richmond County NY Real Gross Rent Trends
Median gross rent for Richmond County peaked in real terms in 2017 at $1,326 and is now $27 (2.04%) lower. Average gross rent for Richmond County peaked in real terms in 2017 at $1,281 and is now $119 (9.29%) lower.
Real Gross Rent: Richmond County NY Median, Richmond County NY Average, New York Median, US Median
Real Gross Rent History for Richmond County
| Date | US Median |
New York Median |
Richmond County NY Median |
Richmond County NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $1,299 | $1,162 |
| 2018 | $1,077 | $1,297 | $1,314 | $1,281 |
| 2017 | $1,043 | $1,264 | $1,326 | $1,281 |
| 2016 | $1,027 | $1,250 | $1,304 | $1,232 |
| 2015 | $1,017 | $1,244 | $1,281 | $1,236 |
| 2014 | $986 | $1,212 | $1,213 | $1,174 |
| 2013 | $953 | $1,168 | $1,223 | $1,194 |
| 2012 | $940 | $1,148 | $1,186 | $1,155 |
| 2011 | $941 | $1,143 | $1,201 | $1,169 |
| 2010 | $955 | $1,140 | $1,275 | $1,197 |
| 2009 | $960 | $1,121 | $1,257 | $1,206 |
| 2007 | $927 | $1,066 | $1,261 | $1,169 |
| 2005 | $910 | $1,051 | $1,213 | $1,209 |
Richmond 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 Richmond County New York was 5.55% according to Census ACS data.
Rental Vacancy Rate in Richmond 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% |
| Richmond County NY | 5.55% | -2.26% | -1.18% |
Trends in Richmond County NY Rental Vacancy Rate
The rental vacancy rate in Richmond County peaked in 2011 at 10.68%. Since then it has fallen by 5.13% to 5.55%. Data records for this series originated in 2005. From a 2015 post peak low of 4.18%, the rental vacancy rate has increased by 1.37%.
Rental Vacancy Rate: Richmond County NY, New York, US
Historical Rental Vacancy Rate data for Richmond County
| Date | US | New York | Richmond County NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | 5.55% |
| 2018 | 6.15% | 4.20% | 7.81% |
| 2017 | 6.18% | 4.19% | 6.99% |
| 2016 | 5.89% | 4.42% | 6.73% |
| 2015 | 5.85% | 4.41% | 4.18% |
| 2014 | 6.32% | 4.34% | 7.18% |
| 2013 | 6.49% | 4.17% | 6.54% |
| 2012 | 6.77% | 4.34% | 6.70% |
| 2011 | 7.40% | 4.48% | 10.68% |
| 2010 | 8.17% | 5.03% | 7.76% |
| 2009 | 8.43% | 4.78% | 6.80% |
| 2007 | 7.87% | 4.70% | 7.36% |
| 2005 | 7.74% | 4.80% | 6.89% |
Rent as a Fraction of Income
Using median household income data for Richmond County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Richmond County, median monthly gross rent as a fraction of median household income was 17.35% in 2019 according to the ACS.
Richmond 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% |
| Richmond County NY | 17.35% | -1.50% | -2.00% |
Trends in Richmond County NY Rent as a Fraction of Income
The fraction of median Richmond County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 20.24%. Since then it has fallen by 2.89% to 17.35%.
Fraction of Income towards Rent: Richmond County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Richmond County New York
| Date | US | New York | Richmond County NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 17.35% |
| 2018 | 20.50% | 22.53% | 18.85% |
| 2017 | 20.13% | 22.67% | 19.48% |
| 2016 | 20.43% | 22.78% | 19.35% |
| 2015 | 20.63% | 23.13% | 20.24% |
| 2014 | 20.89% | 23.40% | 19.39% |
| 2013 | 20.78% | 23.20% | 20.01% |
| 2012 | 20.65% | 22.94% | 18.85% |
| 2011 | 20.70% | 22.98% | 18.91% |
| 2010 | 20.50% | 22.60% | 19.40% |
| 2009 | 20.12% | 21.60% | 19.97% |
| 2007 | 18.66% | 20.34% | 19.22% |
| 2005 | 18.89% | 20.40% | 18.47% |
Renter Fraction in Richmond County New York
You can calculate the renter fraction in Richmond 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 Richmond County as a fraction of total Richmond County households. In 2019 34.27% of households were renters according to Census ACS data.
Richmond 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% |
| Richmond County NY | 34.27% | +3.47% | +4.79% |
Trends in the Richmond County NY Renter Fraction
At 34.27%, the 2019 household based renter fraction in Richmond County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Richmond County NY, New York, US
History of Richmond County Renter Fraction
| Date | US | New York | Richmond County NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 34.27% |
| 2018 | 36.05% | 46.33% | 30.80% |
| 2017 | 36.13% | 46.20% | 30.42% |
| 2016 | 36.88% | 46.72% | 29.48% |
| 2015 | 36.97% | 46.93% | 31.14% |
| 2014 | 36.90% | 47.02% | 31.80% |
| 2013 | 36.50% | 46.35% | 32.58% |
| 2012 | 36.09% | 46.35% | 32.70% |
| 2011 | 35.42% | 46.41% | 31.05% |
| 2010 | 34.65% | 45.75% | 30.38% |
| 2009 | 34.13% | 44.97% | 30.75% |
| 2007 | 32.80% | 44.48% | 28.80% |
| 2005 | 33.10% | 44.67% | 29.64% |
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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