Hamilton County Tennessee Residential Rent and Rental Statistics
The median monthly gross residential rent in Hamilton County TN was $903 in 2019 according to the Census ACS survey.1 Average gross rent in Hamilton County was $912 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 Hamilton County median and average rent data will be released in September of 2021.
Data is also available below for Hamilton County rental vacancy rates, Hamilton County rent as a percent of median income and the fraction of renters in Hamilton County.
Real Gross Rent in Hamilton County Tennessee (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Tennessee Median Gross Rent | $904 | +3.08% | +7.11% |
| Hamilton County TN Median Gross Rent | $903 | +1.23% | +6.86% |
Hamilton County TN Real Gross Rent Trends
At $903, real median gross rent in Hamilton County was at its highest level in 2019 since the series began in 2005. At $912, real average gross rent in Hamilton County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Hamilton County TN Median, Hamilton County TN Average, Tennessee Median, US Median
Real Gross Rent History for Hamilton County
| Date | US Median |
Tennessee Median |
Hamilton County TN Median |
Hamilton County TN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $904 | $903 | $912 |
| 2018 | $1,077 | $877 | $892 | $894 |
| 2017 | $1,043 | $859 | $859 | $833 |
| 2016 | $1,027 | $844 | $845 | $868 |
| 2015 | $1,017 | $833 | $814 | $804 |
| 2014 | $986 | $813 | $818 | $808 |
| 2013 | $953 | $788 | $780 | $788 |
| 2012 | $940 | $777 | $787 | $795 |
| 2011 | $941 | $772 | $765 | $763 |
| 2010 | $955 | $779 | $786 | $751 |
| 2009 | $960 | $777 | $772 | $768 |
| 2007 | $927 | $745 | $705 | $699 |
| 2005 | $910 | $729 | $714 | $698 |
Hamilton 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 Hamilton County Tennessee was 5.87% according to Census ACS data.
Rental Vacancy Rate in Hamilton County Tennessee
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Tennessee | 7.27% | -0.29% | +0.59% |
| Hamilton County TN | 5.87% | +0.47% | -6.64% |
Trends in Hamilton County TN Rental Vacancy Rate
The rental vacancy rate in Hamilton County peaked in 2005 at 14.64%. Since then it has fallen by 8.77% to 5.87%. Data records for this series originated in 2005. From a 2018 post peak low of 5.40%, the rental vacancy rate has increased by 0.47%.
Rental Vacancy Rate: Hamilton County TN, Tennessee, US
Historical Rental Vacancy Rate data for Hamilton County
| Date | US | Tennessee | Hamilton County TN |
|---|---|---|---|
| 2019 | 5.97% | 7.27% | 5.87% |
| 2018 | 6.15% | 7.56% | 5.40% |
| 2017 | 6.18% | 6.67% | 6.28% |
| 2016 | 5.89% | 6.68% | 12.51% |
| 2015 | 5.85% | 7.13% | 11.28% |
| 2014 | 6.32% | 7.24% | 9.16% |
| 2013 | 6.49% | 7.86% | 6.68% |
| 2012 | 6.77% | 7.89% | 7.88% |
| 2011 | 7.40% | 8.54% | 9.99% |
| 2010 | 8.17% | 10.33% | 5.70% |
| 2009 | 8.43% | 10.52% | 9.52% |
| 2007 | 7.87% | 9.20% | 9.39% |
| 2005 | 7.74% | 8.82% | 14.64% |
Rent as a Fraction of Income
Using median household income data for Hamilton County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Hamilton County, median monthly gross rent as a fraction of median household income was 18.84% in 2019 according to the ACS.
Hamilton County Tennessee Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Tennessee | 19.35% | -0.38% | -0.58% |
| Hamilton County TN | 18.84% | +0.49% | -1.37% |
Trends in Hamilton County TN Rent as a Fraction of Income
The fraction of median Hamilton County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 20.34%. Since then it has fallen by 1.50% to 18.84%.
Fraction of Income towards Rent: Hamilton County TN, Tennessee, US
Historical Data for Annual Rent as a Fraction of Income in Hamilton County Tennessee
| Date | US | Tennessee | Hamilton County TN |
|---|---|---|---|
| 2019 | 20.03% | 19.35% | 18.84% |
| 2018 | 20.50% | 19.73% | 18.35% |
| 2017 | 20.13% | 19.47% | 19.48% |
| 2016 | 20.43% | 19.92% | 20.22% |
| 2015 | 20.63% | 19.93% | 18.95% |
| 2014 | 20.89% | 20.83% | 19.22% |
| 2013 | 20.78% | 20.26% | 18.75% |
| 2012 | 20.65% | 20.48% | 18.63% |
| 2011 | 20.70% | 20.58% | 20.34% |
| 2010 | 20.50% | 20.17% | 19.20% |
| 2009 | 20.12% | 19.61% | 18.99% |
| 2007 | 18.66% | 17.96% | 15.83% |
| 2005 | 18.89% | 18.00% | 16.88% |
Renter Fraction in Hamilton County Tennessee
You can calculate the renter fraction in Hamilton 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 Hamilton County as a fraction of total Hamilton County households. In 2019 37.27% of households were renters according to Census ACS data.
Hamilton County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Tennessee | 33.49% | -0.28% | -1.42% |
| Hamilton County TN | 37.27% | +1.52% | +3.29% |
Trends in the Hamilton County TN Renter Fraction
The Hamilton County household renter fraction peaked in in 2017 at 38.98% and is now 1.71% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Hamilton County TN, Tennessee, US
History of Hamilton County Renter Fraction
| Date | US | Tennessee | Hamilton County TN |
|---|---|---|---|
| 2019 | 35.89% | 33.49% | 37.27% |
| 2018 | 36.05% | 33.77% | 35.75% |
| 2017 | 36.13% | 34.57% | 38.98% |
| 2016 | 36.88% | 34.91% | 33.98% |
| 2015 | 36.97% | 34.18% | 36.94% |
| 2014 | 36.90% | 33.86% | 38.06% |
| 2013 | 36.50% | 33.62% | 34.45% |
| 2012 | 36.09% | 33.31% | 36.65% |
| 2011 | 35.42% | 32.72% | 35.46% |
| 2010 | 34.65% | 31.87% | 35.08% |
| 2009 | 34.13% | 30.85% | 33.37% |
| 2007 | 32.80% | 30.06% | 33.54% |
| 2005 | 33.10% | 30.74% | 31.43% |
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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