Licking County Ohio Residential Rent and Rental Statistics
The median monthly gross residential rent in Licking County OH was $838 in 2019 according to the Census ACS survey.1 Average gross rent in Licking County was $829 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 Licking County median and average rent data will be released in September of 2021.
Data is also available below for Licking County rental vacancy rates, Licking County rent as a percent of median income and the fraction of renters in Licking County.
Real Gross Rent in Licking 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% |
| Licking County OH Median Gross Rent | $838 | -0.83% | +2.20% |
Licking County OH Real Gross Rent Trends
Median gross rent for Licking County peaked in real terms in 2015 at $887 and is now $49 (5.52%) lower. Average gross rent for Licking County peaked in real terms in 2015 at $905 and is now $76 (8.40%) lower.
Real Gross Rent: Licking County OH Median, Licking County OH Average, Ohio Median, US Median
Real Gross Rent History for Licking County
| Date | US Median |
Ohio Median |
Licking County OH Median |
Licking County OH Average |
|---|---|---|---|---|
| 2019 | $1,097 | $813 | $838 | $829 |
| 2018 | $1,077 | $811 | $845 | $791 |
| 2017 | $1,043 | $796 | $874 | $837 |
| 2016 | $1,027 | $795 | $820 | $808 |
| 2015 | $1,017 | $791 | $887 | $905 |
| 2014 | $986 | $776 | $800 | $774 |
| 2013 | $953 | $747 | $762 | $775 |
| 2012 | $940 | $745 | $824 | $794 |
| 2011 | $941 | $747 | $740 | $741 |
| 2010 | $955 | $765 | $762 | $763 |
| 2009 | $960 | $764 | $762 | $742 |
| 2007 | $927 | $755 | $773 | $724 |
| 2005 | $910 | $766 | $688 | $695 |
Licking 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 Licking County Ohio was 1.75% according to Census ACS data.
Rental Vacancy Rate in Licking County Ohio
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Ohio | 4.67% | -0.87% | -0.77% |
| Licking County OH | 1.75% | -4.87% | -7.40% |
Trends in Licking County OH Rental Vacancy Rate
The rental vacancy rate in Licking County peaked in 2016 at 9.15%. Since then it has fallen by 7.40% to 1.75%. Data records for this series originated in 2005.
Rental Vacancy Rate: Licking County OH, Ohio, US
Historical Rental Vacancy Rate data for Licking County
| Date | US | Ohio | Licking County OH |
|---|---|---|---|
| 2019 | 5.97% | 4.67% | 1.75% |
| 2018 | 6.15% | 5.54% | 6.62% |
| 2017 | 6.18% | 5.62% | 8.44% |
| 2016 | 5.89% | 5.44% | 9.15% |
| 2015 | 5.85% | 5.56% | 5.63% |
| 2014 | 6.32% | 6.26% | 4.92% |
| 2013 | 6.49% | 6.15% | — |
| 2012 | 6.77% | 7.08% | 2.89% |
| 2011 | 7.40% | 7.89% | 6.97% |
| 2010 | 8.17% | 9.45% | — |
| 2009 | 8.43% | 9.17% | — |
| 2007 | 7.87% | 10.00% | 8.38% |
| 2005 | 7.74% | 10.37% | — |
Rent as a Fraction of Income
Using median household income data for Licking County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Licking County, median monthly gross rent as a fraction of median household income was 15.23% in 2019 according to the ACS.
Licking 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% |
| Licking County OH | 15.23% | +0.54% | -0.78% |
Trends in Licking County OH Rent as a Fraction of Income
The fraction of median Licking County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 17.77%. Since then it has fallen by 2.54% to 15.23%.
Fraction of Income towards Rent: Licking County OH, Ohio, US
Historical Data for Annual Rent as a Fraction of Income in Licking County Ohio
| Date | US | Ohio | Licking County OH |
|---|---|---|---|
| 2019 | 20.03% | 16.64% | 15.23% |
| 2018 | 20.50% | 17.04% | 14.69% |
| 2017 | 20.13% | 17.15% | 16.18% |
| 2016 | 20.43% | 17.40% | 16.01% |
| 2015 | 20.63% | 17.53% | 16.75% |
| 2014 | 20.89% | 17.89% | 15.78% |
| 2013 | 20.78% | 17.70% | 15.83% |
| 2012 | 20.65% | 17.94% | 17.77% |
| 2011 | 20.70% | 18.15% | 14.98% |
| 2010 | 20.50% | 18.23% | 16.01% |
| 2009 | 20.12% | 17.71% | 15.77% |
| 2007 | 18.66% | 16.56% | 14.74% |
| 2005 | 18.89% | 16.91% | 13.21% |
Renter Fraction in Licking County Ohio
You can calculate the renter fraction in Licking 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 Licking County as a fraction of total Licking County households. In 2019 29.19% of households were renters according to Census ACS data.
Licking 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% |
| Licking County OH | 29.19% | +3.25% | +0.72% |
Trends in the Licking County OH Renter Fraction
At 29.19%, the 2019 household based renter fraction in Licking County was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Licking County OH, Ohio, US
History of Licking County Renter Fraction
| Date | US | Ohio | Licking County OH |
|---|---|---|---|
| 2019 | 35.89% | 33.96% | 29.19% |
| 2018 | 36.05% | 34.13% | 25.94% |
| 2017 | 36.13% | 34.22% | 24.55% |
| 2016 | 36.88% | 34.64% | 28.47% |
| 2015 | 36.97% | 34.59% | 27.95% |
| 2014 | 36.90% | 34.67% | 28.91% |
| 2013 | 36.50% | 33.93% | 28.90% |
| 2012 | 36.09% | 33.71% | 28.52% |
| 2011 | 35.42% | 33.02% | 26.50% |
| 2010 | 34.65% | 31.60% | 25.57% |
| 2009 | 34.13% | 31.95% | 27.85% |
| 2007 | 32.80% | 30.32% | 24.72% |
| 2005 | 33.10% | 30.06% | 24.02% |
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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