Hancock County Ohio Residential Rent and Rental Statistics
The median monthly gross residential rent in Hancock County OH was $747 in 2019 according to the Census ACS survey.1 Average gross rent in Hancock County was $832 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 Hancock County median and average rent data will be released in September of 2021.
Data is also available below for Hancock County rental vacancy rates, Hancock County rent as a percent of median income and the fraction of renters in Hancock County.
Real Gross Rent in Hancock 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% |
| Hancock County OH Median Gross Rent | $747 | +2.75% | -1.06% |
Hancock County OH Real Gross Rent Trends
Median gross rent for Hancock County peaked in real terms in 2015 at $837 and is now $90 (10.75%) lower. Average gross rent for Hancock County peaked in real terms in 2015 at $913 and is now $81 (8.87%) lower.
Real Gross Rent: Hancock County OH Median, Hancock County OH Average, Ohio Median, US Median
Real Gross Rent History for Hancock County
| Date | US Median |
Ohio Median |
Hancock County OH Median |
Hancock County OH Average |
|---|---|---|---|---|
| 2019 | $1,097 | $813 | $747 | $832 |
| 2018 | $1,077 | $811 | $727 | $695 |
| 2017 | $1,043 | $796 | $758 | $729 |
| 2016 | $1,027 | $795 | $755 | $772 |
| 2015 | $1,017 | $791 | $837 | $913 |
| 2014 | $986 | $776 | $709 | $735 |
| 2013 | $953 | $747 | $694 | $689 |
| 2012 | $940 | $745 | $719 | $751 |
| 2011 | $941 | $747 | $624 | $664 |
| 2010 | $955 | $765 | $767 | $760 |
| 2009 | $960 | $764 | $726 | $699 |
| 2007 | $927 | $755 | $733 | $743 |
| 2005 | $910 | $766 | $765 | $716 |
Historical Rental Vacancy Rate data for Hancock County
| Date | US | Ohio | Hancock County OH |
|---|---|---|---|
| 2019 | 5.97% | 4.67% | — |
| 2018 | 6.15% | 5.54% | — |
| 2017 | 6.18% | 5.62% | — |
| 2016 | 5.89% | 5.44% | — |
| 2015 | 5.85% | 5.56% | — |
| 2014 | 6.32% | 6.26% | — |
| 2013 | 6.49% | 6.15% | — |
| 2012 | 6.77% | 7.08% | — |
| 2011 | 7.40% | 7.89% | — |
| 2010 | 8.17% | 9.45% | — |
| 2009 | 8.43% | 9.17% | — |
| 2007 | 7.87% | 10.00% | — |
| 2005 | 7.74% | 10.37% | — |
Rent as a Fraction of Income
Using median household income data for Hancock County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hancock County, median monthly gross rent as a fraction of median household income was 14.71% in 2019 according to the ACS.
Hancock 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% |
| Hancock County OH | 14.71% | +0.61% | -1.67% |
Trends in Hancock County OH Rent as a Fraction of Income
The fraction of median Hancock County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 17.31%. Since then it has fallen by 2.60% to 14.71%. From a 2018 low of 14.09%, the fraction of income going to rent has increased by 0.61%.
Fraction of Income towards Rent: Hancock County OH, Ohio, US
Historical Data for Annual Rent as a Fraction of Income in Hancock County Ohio
| Date | US | Ohio | Hancock County OH |
|---|---|---|---|
| 2019 | 20.03% | 16.64% | 14.71% |
| 2018 | 20.50% | 17.04% | 14.09% |
| 2017 | 20.13% | 17.15% | 17.17% |
| 2016 | 20.43% | 17.40% | 16.38% |
| 2015 | 20.63% | 17.53% | 17.31% |
| 2014 | 20.89% | 17.89% | 15.84% |
| 2013 | 20.78% | 17.70% | 17.05% |
| 2012 | 20.65% | 17.94% | 16.92% |
| 2011 | 20.70% | 18.15% | 14.84% |
| 2010 | 20.50% | 18.23% | 16.41% |
| 2009 | 20.12% | 17.71% | 16.07% |
| 2007 | 18.66% | 16.56% | 15.42% |
| 2005 | 18.89% | 16.91% | 16.28% |
Renter Fraction in Hancock County Ohio
You can calculate the renter fraction in Hancock 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 Hancock County as a fraction of total Hancock County households. In 2019 32.75% of households were renters according to Census ACS data.
Hancock 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% |
| Hancock County OH | 32.75% | +2.66% | -1.93% |
Trends in the Hancock County OH Renter Fraction
The Hancock County household renter fraction peaked in in 2016 at 34.68% and is now 1.93% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Hancock County OH, Ohio, US
History of Hancock County Renter Fraction
| Date | US | Ohio | Hancock County OH |
|---|---|---|---|
| 2019 | 35.89% | 33.96% | 32.75% |
| 2018 | 36.05% | 34.13% | 30.09% |
| 2017 | 36.13% | 34.22% | 29.36% |
| 2016 | 36.88% | 34.64% | 34.68% |
| 2015 | 36.97% | 34.59% | 29.99% |
| 2014 | 36.90% | 34.67% | 31.40% |
| 2013 | 36.50% | 33.93% | 32.23% |
| 2012 | 36.09% | 33.71% | 27.62% |
| 2011 | 35.42% | 33.02% | 29.10% |
| 2010 | 34.65% | 31.60% | 30.36% |
| 2009 | 34.13% | 31.95% | 29.93% |
| 2007 | 32.80% | 30.32% | 23.59% |
| 2005 | 33.10% | 30.06% | 28.12% |
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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