Schenectady County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Schenectady County NY was $974 in 2019 according to the Census ACS survey.1 Average gross rent in Schenectady County was $1,031 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 Schenectady County median and average rent data will be released in September of 2021.
Data is also available below for Schenectady County rental vacancy rates, Schenectady County rent as a percent of median income and the fraction of renters in Schenectady County.
Real Gross Rent in Schenectady 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% |
| Schenectady County NY Median Gross Rent | $974 | -1.62% | +2.63% |
Schenectady County NY Real Gross Rent Trends
Median gross rent for Schenectady County peaked in real terms in 2018 at $990 and is now $16 (1.62%) lower. At $1,031, real average gross rent in Schenectady County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Schenectady County NY Median, Schenectady County NY Average, New York Median, US Median
Real Gross Rent History for Schenectady County
| Date | US Median |
New York Median |
Schenectady County NY Median |
Schenectady County NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $974 | $1,031 |
| 2018 | $1,077 | $1,297 | $990 | $962 |
| 2017 | $1,043 | $1,264 | $913 | $876 |
| 2016 | $1,027 | $1,250 | $949 | $942 |
| 2015 | $1,017 | $1,244 | $911 | $872 |
| 2014 | $986 | $1,212 | $906 | $926 |
| 2013 | $953 | $1,168 | $876 | $854 |
| 2012 | $940 | $1,148 | $843 | $844 |
| 2011 | $941 | $1,143 | $889 | $888 |
| 2010 | $955 | $1,140 | $898 | $878 |
| 2009 | $960 | $1,121 | $899 | $913 |
| 2007 | $927 | $1,066 | $882 | $871 |
| 2005 | $910 | $1,051 | $843 | $810 |
Schenectady 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 Schenectady County New York was 4.85% according to Census ACS data.
Rental Vacancy Rate in Schenectady 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% |
| Schenectady County NY | — | — | — |
Trends in Schenectady County NY Rental Vacancy Rate
The rental vacancy rate in Schenectady County peaked in 2014 at 9.64%. Since then it has fallen by 4.79% to 4.85%. Data records for this series originated in 2005. From a 2017 post peak low of 1.36%, the rental vacancy rate has increased by 3.49%.
Rental Vacancy Rate: Schenectady County NY, New York, US
Historical Rental Vacancy Rate data for Schenectady County
| Date | US | New York | Schenectady County NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | — |
| 2018 | 6.15% | 4.20% | 4.85% |
| 2017 | 6.18% | 4.19% | 1.36% |
| 2016 | 5.89% | 4.42% | 9.03% |
| 2015 | 5.85% | 4.41% | 9.31% |
| 2014 | 6.32% | 4.34% | 9.64% |
| 2013 | 6.49% | 4.17% | — |
| 2012 | 6.77% | 4.34% | 8.15% |
| 2011 | 7.40% | 4.48% | 3.10% |
| 2010 | 8.17% | 5.03% | — |
| 2009 | 8.43% | 4.78% | 3.27% |
| 2007 | 7.87% | 4.70% | — |
| 2005 | 7.74% | 4.80% | 3.77% |
Rent as a Fraction of Income
Using median household income data for Schenectady County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Schenectady County, median monthly gross rent as a fraction of median household income was 17.77% in 2019 according to the ACS.
Schenectady 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% |
| Schenectady County NY | 17.77% | -0.22% | -0.87% |
Trends in Schenectady County NY Rent as a Fraction of Income
The fraction of median Schenectady County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 18.81%. Since then it has fallen by 1.04% to 17.77%.
Fraction of Income towards Rent: Schenectady County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Schenectady County New York
| Date | US | New York | Schenectady County NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 17.77% |
| 2018 | 20.50% | 22.53% | 17.99% |
| 2017 | 20.13% | 22.67% | 16.99% |
| 2016 | 20.43% | 22.78% | 18.64% |
| 2015 | 20.63% | 23.13% | 16.87% |
| 2014 | 20.89% | 23.40% | 17.88% |
| 2013 | 20.78% | 23.20% | 18.39% |
| 2012 | 20.65% | 22.94% | 16.88% |
| 2011 | 20.70% | 22.98% | 18.81% |
| 2010 | 20.50% | 22.60% | 18.44% |
| 2009 | 20.12% | 21.60% | 17.73% |
| 2007 | 18.66% | 20.34% | 16.40% |
| 2005 | 18.89% | 20.40% | 17.89% |
Renter Fraction in Schenectady County New York
You can calculate the renter fraction in Schenectady 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 Schenectady County as a fraction of total Schenectady County households. In 2019 36.96% of households were renters according to Census ACS data.
Schenectady 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% |
| Schenectady County NY | 36.96% | -0.30% | +2.04% |
Trends in the Schenectady County NY Renter Fraction
The Schenectady County household renter fraction peaked in in 2018 at 37.26% and is now 0.30% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Schenectady County NY, New York, US
History of Schenectady County Renter Fraction
| Date | US | New York | Schenectady County NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 36.96% |
| 2018 | 36.05% | 46.33% | 37.26% |
| 2017 | 36.13% | 46.20% | 30.43% |
| 2016 | 36.88% | 46.72% | 34.92% |
| 2015 | 36.97% | 46.93% | 33.10% |
| 2014 | 36.90% | 47.02% | 33.90% |
| 2013 | 36.50% | 46.35% | 32.24% |
| 2012 | 36.09% | 46.35% | 34.22% |
| 2011 | 35.42% | 46.41% | 36.94% |
| 2010 | 34.65% | 45.75% | 31.11% |
| 2009 | 34.13% | 44.97% | 29.91% |
| 2007 | 32.80% | 44.48% | 27.75% |
| 2005 | 33.10% | 44.67% | 32.24% |
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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