Tompkins County New York Residential Rent and Rental Statistics
The median monthly gross residential rent in Tompkins County NY was $1,219 in 2019 according to the Census ACS survey.1 Average gross rent in Tompkins County was $1,270 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 Tompkins County median and average rent data will be released in September of 2021.
Data is also available below for Tompkins County rental vacancy rates, Tompkins County rent as a percent of median income and the fraction of renters in Tompkins County.
Real Gross Rent in Tompkins 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% |
| Tompkins County NY Median Gross Rent | $1,219 | +3.83% | +16.76% |
Tompkins County NY Real Gross Rent Trends
At $1,219, real median gross rent in Tompkins County was at its highest level in 2019 since the series began in 2005. At $1,270, real average gross rent in Tompkins County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Tompkins County NY Median, Tompkins County NY Average, New York Median, US Median
Real Gross Rent History for Tompkins County
| Date | US Median |
New York Median |
Tompkins County NY Median |
Tompkins County NY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,309 | $1,219 | $1,270 |
| 2018 | $1,077 | $1,297 | $1,174 | $1,223 |
| 2017 | $1,043 | $1,264 | $1,155 | $1,184 |
| 2016 | $1,027 | $1,250 | $1,044 | $1,079 |
| 2015 | $1,017 | $1,244 | $1,146 | $1,204 |
| 2014 | $986 | $1,212 | $1,050 | $1,153 |
| 2013 | $953 | $1,168 | $952 | $1,068 |
| 2012 | $940 | $1,148 | $1,038 | $1,137 |
| 2011 | $941 | $1,143 | $1,006 | $1,084 |
| 2010 | $955 | $1,140 | $995 | $1,092 |
| 2009 | $960 | $1,121 | $985 | $1,077 |
| 2007 | $927 | $1,066 | $923 | $1,035 |
| 2005 | $910 | $1,051 | $936 | $1,084 |
Tompkins County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Tompkins County New York was 1.13% according to Census ACS data.
Rental Vacancy Rate in Tompkins 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% |
| Tompkins County NY | — | — | — |
Trends in Tompkins County NY Rental Vacancy Rate
The rental vacancy rate in Tompkins County peaked in 2016 at 7.53%. Since then it has fallen by 6.40% to 1.13%. Data records for this series originated in 2005.
Rental Vacancy Rate: Tompkins County NY, New York, US
Historical Rental Vacancy Rate data for Tompkins County
| Date | US | New York | Tompkins County NY |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | — |
| 2018 | 6.15% | 4.20% | — |
| 2017 | 6.18% | 4.19% | 1.13% |
| 2016 | 5.89% | 4.42% | 7.53% |
| 2015 | 5.85% | 4.41% | 1.95% |
| 2014 | 6.32% | 4.34% | 3.64% |
| 2013 | 6.49% | 4.17% | — |
| 2012 | 6.77% | 4.34% | — |
| 2011 | 7.40% | 4.48% | — |
| 2010 | 8.17% | 5.03% | 2.48% |
| 2009 | 8.43% | 4.78% | 3.06% |
| 2007 | 7.87% | 4.70% | — |
| 2005 | 7.74% | 4.80% | 2.63% |
Rent as a Fraction of Income
Using median household income data for Tompkins County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Tompkins County, median monthly gross rent as a fraction of median household income was 24.95% in 2019 according to the ACS.
Tompkins 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% |
| Tompkins County NY | 24.95% | +0.79% | +3.72% |
Trends in Tompkins County NY Rent as a Fraction of Income
Tompkins County renters paid 24.95% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Tompkins County NY, New York, US
Historical Data for Annual Rent as a Fraction of Income in Tompkins County New York
| Date | US | New York | Tompkins County NY |
|---|---|---|---|
| 2019 | 20.03% | 21.78% | 24.95% |
| 2018 | 20.50% | 22.53% | 24.16% |
| 2017 | 20.13% | 22.67% | 23.72% |
| 2016 | 20.43% | 22.78% | 21.23% |
| 2015 | 20.63% | 23.13% | 22.31% |
| 2014 | 20.89% | 23.40% | 22.58% |
| 2013 | 20.78% | 23.20% | 22.36% |
| 2012 | 20.65% | 22.94% | 23.46% |
| 2011 | 20.70% | 22.98% | 21.66% |
| 2010 | 20.50% | 22.60% | 20.51% |
| 2009 | 20.12% | 21.60% | 23.03% |
| 2007 | 18.66% | 20.34% | 21.74% |
| 2005 | 18.89% | 20.40% | 20.75% |
Renter Fraction in Tompkins County New York
You can calculate the renter fraction in Tompkins 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 Tompkins County as a fraction of total Tompkins County households. In 2019 49.92% of households were renters according to Census ACS data.
Tompkins 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% |
| Tompkins County NY | 49.92% | +5.76% | +4.93% |
Trends in the Tompkins County NY Renter Fraction
At 49.92%, the 2019 household based renter fraction in Tompkins County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Tompkins County NY, New York, US
History of Tompkins County Renter Fraction
| Date | US | New York | Tompkins County NY |
|---|---|---|---|
| 2019 | 35.89% | 46.48% | 49.92% |
| 2018 | 36.05% | 46.33% | 44.16% |
| 2017 | 36.13% | 46.20% | 44.71% |
| 2016 | 36.88% | 46.72% | 44.99% |
| 2015 | 36.97% | 46.93% | 46.11% |
| 2014 | 36.90% | 47.02% | 45.34% |
| 2013 | 36.50% | 46.35% | 43.20% |
| 2012 | 36.09% | 46.35% | 44.61% |
| 2011 | 35.42% | 46.41% | 44.90% |
| 2010 | 34.65% | 45.75% | 43.98% |
| 2009 | 34.13% | 44.97% | 47.21% |
| 2007 | 32.80% | 44.48% | 45.45% |
| 2005 | 33.10% | 44.67% | 47.32% |
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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