Steuben County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Steuben County NY was $709 in 2019 according to the Census ACS survey.1 Average gross rent in Steuben County was $661 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 Steuben County median and average rent data will be released in September of 2021.
Data is also available below for Steuben County rental vacancy rates, Steuben County rent as a percent of median income and the fraction of renters in Steuben County.
Real Gross Rent in Steuben 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% |
| Steuben County NY Median Gross Rent | $709 | +5.82% | +1.43% |
Steuben County NY Real Gross Rent Trends
Median gross rent for Steuben County peaked in real terms in 2008 at $733 and is now $24 (3.27%) lower. Average gross rent for Steuben County peaked in real terms in 2008 at $752 and is now $91 (12.10%) lower.
Real Gross Rent: Steuben County NY Median, Steuben County NY Average, New York Median, US Median
Real Gross Rent History for Steuben County
| Date | US Median |
New York Median |
Steuben County NY Median |
Steuben County NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $709 | $661 |
| 2018 | $1,077 | $1,297 | $670 | $690 |
| 2017 | $1,043 | $1,264 | $686 | $659 |
| 2016 | $1,027 | $1,250 | $699 | $677 |
| 2015 | $1,017 | $1,244 | $675 | $648 |
| 2014 | $986 | $1,212 | $733 | $740 |
| 2013 | $953 | $1,168 | $700 | $639 |
| 2012 | $940 | $1,148 | $670 | $636 |
| 2011 | $941 | $1,143 | $653 | $648 |
| 2010 | $955 | $1,140 | $684 | $693 |
| 2009 | $960 | $1,121 | $666 | $634 |
| 2007 | $927 | $1,066 | $651 | $624 |
| 2005 | $910 | $1,051 | $688 | $651 |
Steuben 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 Steuben County New York was 6.43% according to Census ACS data.
Rental Vacancy Rate in Steuben 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% |
| Steuben County NY | 6.43% | +1.22% | +0.87% |
Trends in Steuben County NY Rental Vacancy Rate
The rental vacancy rate in Steuben County peaked in 2015 at 9.44%. Since then it has fallen by 3.01% to 6.43%. Data records for this series originated in 2005.
Rental Vacancy Rate: Steuben County NY, New York, US
Historical Rental Vacancy Rate data for Steuben County
| Date | US | New York | Steuben County NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | 6.43% |
| 2018 | 6.15% | 4.20% | 5.21% |
| 2017 | 6.18% | 4.19% | 4.56% |
| 2016 | 5.89% | 4.42% | 5.56% |
| 2015 | 5.85% | 4.41% | 9.44% |
| 2014 | 6.32% | 4.34% | 2.72% |
| 2013 | 6.49% | 4.17% | — |
| 2012 | 6.77% | 4.34% | — |
| 2011 | 7.40% | 4.48% | 6.71% |
| 2010 | 8.17% | 5.03% | 5.96% |
| 2009 | 8.43% | 4.78% | 5.24% |
| 2007 | 7.87% | 4.70% | 5.40% |
| 2005 | 7.74% | 4.80% | 6.77% |
Rent as a Fraction of Income
Using median household income data for Steuben County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Steuben County, median monthly gross rent as a fraction of median household income was 16.07% in 2019 according to the ACS.
Steuben 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% |
| Steuben County NY | 16.07% | +1.86% | +0.22% |
Trends in Steuben County NY Rent as a Fraction of Income
The fraction of median Steuben County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 17.76%. Since then it has fallen by 1.69% to 16.07%. From a 2018 low of 14.21%, the fraction of income going to rent has increased by 1.86%.
Fraction of Income towards Rent: Steuben County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Steuben County New York
| Date | US | New York | Steuben County NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 16.07% |
| 2018 | 20.50% | 22.53% | 14.21% |
| 2017 | 20.13% | 22.67% | 15.67% |
| 2016 | 20.43% | 22.78% | 15.85% |
| 2015 | 20.63% | 23.13% | 16.19% |
| 2014 | 20.89% | 23.40% | 17.76% |
| 2013 | 20.78% | 23.20% | 16.96% |
| 2012 | 20.65% | 22.94% | 16.28% |
| 2011 | 20.70% | 22.98% | 16.71% |
| 2010 | 20.50% | 22.60% | 15.97% |
| 2009 | 20.12% | 21.60% | 16.44% |
| 2007 | 18.66% | 20.34% | 16.21% |
| 2005 | 18.89% | 20.40% | 17.08% |
Renter Fraction in Steuben County New York
You can calculate the renter fraction in Steuben 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 Steuben County as a fraction of total Steuben County households. In 2019 27.42% of households were renters according to Census ACS data.
Steuben 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% |
| Steuben County NY | 27.42% | +0.67% | +0.23% |
Trends in the Steuben County NY Renter Fraction
The Steuben County household renter fraction peaked in in 2014 at 31.61% and is now 4.19% below that level. From a recent low of 23.97% in 2017, the household based renter fraction has now grown by 3.45%. The origin year for the series is 2005.
Fraction of Renting Households: Steuben County NY, New York, US
History of Steuben County Renter Fraction
| Date | US | New York | Steuben County NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 27.42% |
| 2018 | 36.05% | 46.33% | 26.75% |
| 2017 | 36.13% | 46.20% | 23.97% |
| 2016 | 36.88% | 46.72% | 27.19% |
| 2015 | 36.97% | 46.93% | 30.46% |
| 2014 | 36.90% | 47.02% | 31.61% |
| 2013 | 36.50% | 46.35% | 28.42% |
| 2012 | 36.09% | 46.35% | 30.04% |
| 2011 | 35.42% | 46.41% | 30.77% |
| 2010 | 34.65% | 45.75% | 27.94% |
| 2009 | 34.13% | 44.97% | 26.48% |
| 2007 | 32.80% | 44.48% | 27.27% |
| 2005 | 33.10% | 44.67% | 28.85% |
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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