Summit County Ohio Residential Rent and Rental Statistics
The median monthly gross residential rent in Summit County OH was $815 in 2019 according to the Census ACS survey.1 Average gross rent in Summit County was $830 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 Summit County median and average rent data will be released in September of 2021.
Data is also available below for Summit County rental vacancy rates, Summit County rent as a percent of median income and the fraction of renters in Summit County.
Real Gross Rent in Summit 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% |
| Summit County OH Median Gross Rent | $815 | +0.74% | -4.12% |
Summit County OH Real Gross Rent Trends
Median gross rent for Summit County peaked in real terms in 2006 at $858 and is now $43 (5.01%) lower. From a recent low of 759.0 in 2013, real median gross rent has now increased by $56 (7.38%). Average gross rent for Summit County peaked in real terms in 2016 at $880 and is now $50 (5.68%) lower.
Real Gross Rent: Summit County OH Median, Summit County OH Average, Ohio Median, US Median
Real Gross Rent History for Summit County
| Date | US Median |
Ohio Median |
Summit County OH Median |
Summit County OH Average |
|---|---|---|---|---|
| 2019 | $1,097 | $813 | $815 | $830 |
| 2018 | $1,077 | $811 | $809 | $811 |
| 2017 | $1,043 | $796 | $820 | $824 |
| 2016 | $1,027 | $795 | $850 | $880 |
| 2015 | $1,017 | $791 | $785 | $790 |
| 2014 | $986 | $776 | $785 | $797 |
| 2013 | $953 | $747 | $759 | $779 |
| 2012 | $940 | $745 | $768 | $776 |
| 2011 | $941 | $747 | $769 | $788 |
| 2010 | $955 | $765 | $778 | $784 |
| 2009 | $960 | $764 | $806 | $801 |
| 2007 | $927 | $755 | $824 | $788 |
| 2005 | $910 | $766 | $846 | $814 |
Summit 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 Summit County Ohio was 3.40% according to Census ACS data.
Rental Vacancy Rate in Summit County Ohio
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Ohio | 4.67% | -0.87% | -0.77% |
| Summit County OH | 3.40% | -2.52% | -2.52% |
Trends in Summit County OH Rental Vacancy Rate
The rental vacancy rate in Summit County peaked in 2005 at 12.37%. Since then it has fallen by 8.97% to 3.40%. Data records for this series originated in 2005. From a 2017 post peak low of 2.98%, the rental vacancy rate has increased by 0.42%.
Rental Vacancy Rate: Summit County OH, Ohio, US
Historical Rental Vacancy Rate data for Summit County
| Date | US | Ohio | Summit County OH |
|---|---|---|---|
| 2019 | 5.97% | 4.67% | 3.40% |
| 2018 | 6.15% | 5.54% | 5.92% |
| 2017 | 6.18% | 5.62% | 2.98% |
| 2016 | 5.89% | 5.44% | 5.92% |
| 2015 | 5.85% | 5.56% | 7.46% |
| 2014 | 6.32% | 6.26% | 6.12% |
| 2013 | 6.49% | 6.15% | 8.06% |
| 2012 | 6.77% | 7.08% | 7.10% |
| 2011 | 7.40% | 7.89% | 10.67% |
| 2010 | 8.17% | 9.45% | 10.22% |
| 2009 | 8.43% | 9.17% | 8.90% |
| 2007 | 7.87% | 10.00% | 10.37% |
| 2005 | 7.74% | 10.37% | 12.37% |
Rent as a Fraction of Income
Using median household income data for Summit County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Summit County, median monthly gross rent as a fraction of median household income was 17.05% in 2019 according to the ACS.
Summit 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% |
| Summit County OH | 17.05% | +0.85% | -1.68% |
Trends in Summit County OH Rent as a Fraction of Income
The fraction of median Summit County household income required to pay median monthly gross rent peaked in 2006 (relative to the 2005 series origin) at 18.75%. Since then it has fallen by 1.70% to 17.05%. From a 2018 low of 16.20%, the fraction of income going to rent has increased by 0.85%.
Fraction of Income towards Rent: Summit County OH, Ohio, US
Historical Data for Annual Rent as a Fraction of Income in Summit County Ohio
| Date | US | Ohio | Summit County OH |
|---|---|---|---|
| 2019 | 20.03% | 16.64% | 17.05% |
| 2018 | 20.50% | 17.04% | 16.20% |
| 2017 | 20.13% | 17.15% | 17.21% |
| 2016 | 20.43% | 17.40% | 18.73% |
| 2015 | 20.63% | 17.53% | 17.31% |
| 2014 | 20.89% | 17.89% | 17.73% |
| 2013 | 20.78% | 17.70% | 17.57% |
| 2012 | 20.65% | 17.94% | 17.75% |
| 2011 | 20.70% | 18.15% | 18.40% |
| 2010 | 20.50% | 18.23% | 18.32% |
| 2009 | 20.12% | 17.71% | 18.06% |
| 2007 | 18.66% | 16.56% | 17.77% |
| 2005 | 18.89% | 16.91% | 18.49% |
Renter Fraction in Summit County Ohio
You can calculate the renter fraction in Summit 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 Summit County as a fraction of total Summit County households. In 2019 34.36% of households were renters according to Census ACS data.
Summit 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% |
| Summit County OH | 34.36% | +0.95% | -0.82% |
Trends in the Summit County OH Renter Fraction
The Summit County household renter fraction peaked in in 2016 at 35.18% and is now 0.82% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Summit County OH, Ohio, US
History of Summit County Renter Fraction
| Date | US | Ohio | Summit County OH |
|---|---|---|---|
| 2019 | 35.89% | 33.96% | 34.36% |
| 2018 | 36.05% | 34.13% | 33.41% |
| 2017 | 36.13% | 34.22% | 33.92% |
| 2016 | 36.88% | 34.64% | 35.18% |
| 2015 | 36.97% | 34.59% | 35.15% |
| 2014 | 36.90% | 34.67% | 35.04% |
| 2013 | 36.50% | 33.93% | 34.58% |
| 2012 | 36.09% | 33.71% | 33.53% |
| 2011 | 35.42% | 33.02% | 32.52% |
| 2010 | 34.65% | 31.60% | 30.95% |
| 2009 | 34.13% | 31.95% | 31.15% |
| 2007 | 32.80% | 30.32% | 30.20% |
| 2005 | 33.10% | 30.06% | 28.76% |
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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