Franklin County Ohio Residential Rent and Rental Statistics
The median monthly gross residential rent in Franklin County OH was $997 in 2019 according to the Census ACS survey.1 Average gross rent in Franklin County was $1,036 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 Franklin County median and average rent data will be released in September of 2021.
Data is also available below for Franklin County rental vacancy rates, Franklin County rent as a percent of median income and the fraction of renters in Franklin County.
Real Gross Rent in Franklin County Ohio (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Ohio Median Gross Rent | $813 | +0.25% | +2.26% |
| Franklin County OH Median Gross Rent | $997 | +1.53% | +6.29% |
Franklin County OH Real Gross Rent Trends
At $997, real median gross rent in Franklin County was at its highest level in 2019 since the series began in 2005. At $1,036, real average gross rent in Franklin County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Franklin County OH Median, Franklin County OH Average, Ohio Median, US Median
Real Gross Rent History for Franklin County
| Date | US Median |
Ohio Median |
Franklin County OH Median |
Franklin County OH Average |
|---|---|---|---|---|
| 2019 | $1,097 | $813 | $997 | $1,036 |
| 2018 | $1,077 | $811 | $982 | $988 |
| 2017 | $1,043 | $796 | $956 | $974 |
| 2016 | $1,027 | $795 | $938 | $970 |
| 2015 | $1,017 | $791 | $937 | $969 |
| 2014 | $986 | $776 | $906 | $930 |
| 2013 | $953 | $747 | $862 | $879 |
| 2012 | $940 | $745 | $846 | $881 |
| 2011 | $941 | $747 | $846 | $882 |
| 2010 | $955 | $765 | $858 | $883 |
| 2009 | $960 | $764 | $882 | $915 |
| 2007 | $927 | $755 | $839 | $862 |
| 2005 | $910 | $766 | $859 | $873 |
Franklin 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 Franklin County Ohio was 5.27% according to Census ACS data.
Rental Vacancy Rate in Franklin County Ohio
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Ohio | 4.67% | -0.87% | -0.77% |
| Franklin County OH | 5.27% | +0.91% | +0.36% |
Trends in Franklin County OH Rental Vacancy Rate
The rental vacancy rate in Franklin County peaked in 2006 at 14.59%. Since then it has fallen by 9.32% to 5.27%. Data records for this series originated in 2005. From a 2018 post peak low of 4.36%, the rental vacancy rate has increased by 0.91%.
Rental Vacancy Rate: Franklin County OH, Ohio, US
Historical Rental Vacancy Rate data for Franklin County
| Date | US | Ohio | Franklin County OH |
|---|---|---|---|
| 2019 | 5.97% | 4.67% | 5.27% |
| 2018 | 6.15% | 5.54% | 4.36% |
| 2017 | 6.18% | 5.62% | 5.57% |
| 2016 | 5.89% | 5.44% | 4.91% |
| 2015 | 5.85% | 5.56% | 4.82% |
| 2014 | 6.32% | 6.26% | 6.27% |
| 2013 | 6.49% | 6.15% | 5.44% |
| 2012 | 6.77% | 7.08% | 7.26% |
| 2011 | 7.40% | 7.89% | 7.78% |
| 2010 | 8.17% | 9.45% | 10.37% |
| 2009 | 8.43% | 9.17% | 11.87% |
| 2007 | 7.87% | 10.00% | 13.45% |
| 2005 | 7.74% | 10.37% | 14.46% |
Rent as a Fraction of Income
Using median household income data for Franklin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Franklin County, median monthly gross rent as a fraction of median household income was 18.49% in 2019 according to the ACS.
Franklin County Ohio Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Ohio | 16.64% | -0.41% | -0.77% |
| Franklin County OH | 18.49% | -0.69% | -0.69% |
Trends in Franklin County OH Rent as a Fraction of Income
The fraction of median Franklin County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.98%. Since then it has fallen by 1.49% to 18.49%.
Fraction of Income towards Rent: Franklin County OH, Ohio, US
Historical Data for Annual Rent as a Fraction of Income in Franklin County Ohio
| Date | US | Ohio | Franklin County OH |
|---|---|---|---|
| 2019 | 20.03% | 16.64% | 18.49% |
| 2018 | 20.50% | 17.04% | 19.18% |
| 2017 | 20.13% | 17.15% | 18.78% |
| 2016 | 20.43% | 17.40% | 19.18% |
| 2015 | 20.63% | 17.53% | 19.67% |
| 2014 | 20.89% | 17.89% | 19.36% |
| 2013 | 20.78% | 17.70% | 19.10% |
| 2012 | 20.65% | 17.94% | 19.05% |
| 2011 | 20.70% | 18.15% | 19.98% |
| 2010 | 20.50% | 18.23% | 19.38% |
| 2009 | 20.12% | 17.71% | 19.59% |
| 2007 | 18.66% | 16.56% | 17.89% |
| 2005 | 18.89% | 16.91% | 18.15% |
Renter Fraction in Franklin County Ohio
You can calculate the renter fraction in Franklin 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 Franklin County as a fraction of total Franklin County households. In 2019 46.63% of households were renters according to Census ACS data.
Franklin County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Ohio | 33.96% | -0.17% | -0.68% |
| Franklin County OH | 46.63% | +0.30% | -1.44% |
Trends in the Franklin County OH Renter Fraction
The Franklin County household renter fraction peaked in in 2016 at 48.07% and is now 1.44% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Franklin County OH, Ohio, US
History of Franklin County Renter Fraction
| Date | US | Ohio | Franklin County OH |
|---|---|---|---|
| 2019 | 35.89% | 33.96% | 46.63% |
| 2018 | 36.05% | 34.13% | 46.33% |
| 2017 | 36.13% | 34.22% | 46.58% |
| 2016 | 36.88% | 34.64% | 48.07% |
| 2015 | 36.97% | 34.59% | 47.74% |
| 2014 | 36.90% | 34.67% | 46.74% |
| 2013 | 36.50% | 33.93% | 45.68% |
| 2012 | 36.09% | 33.71% | 46.47% |
| 2011 | 35.42% | 33.02% | 46.09% |
| 2010 | 34.65% | 31.60% | 44.57% |
| 2009 | 34.13% | 31.95% | 43.28% |
| 2007 | 32.80% | 30.32% | 40.54% |
| 2005 | 33.10% | 30.06% | 39.84% |
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. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
Here's where you are
- Home
- / Rent
- / Ohio
- / Franklin County
