Putnam County Tennessee Residential Rent and Rental Statistics
The median monthly gross residential rent in Putnam County TN was $745 in 2019 according to the Census ACS survey.1 Average gross rent in Putnam County was $721 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 Putnam County median and average rent data will be released in September of 2021.
Data is also available below for Putnam County rental vacancy rates, Putnam County rent as a percent of median income and the fraction of renters in Putnam County.
Real Gross Rent in Putnam 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% |
| Putnam County TN Median Gross Rent | $745 | +1.92% | +14.79% |
Putnam County TN Real Gross Rent Trends
At $745, real median gross rent in Putnam County was at its highest level in 2019 since the series began in 2005. At $721, real average gross rent in Putnam County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Putnam County TN Median, Putnam County TN Average, Tennessee Median, US Median
Real Gross Rent History for Putnam County
| Date | US Median |
Tennessee Median |
Putnam County TN Median |
Putnam County TN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $904 | $745 | $721 |
| 2018 | $1,077 | $877 | $731 | $720 |
| 2017 | $1,043 | $859 | $674 | $651 |
| 2016 | $1,027 | $844 | $649 | $645 |
| 2015 | $1,017 | $833 | $743 | $705 |
| 2014 | $986 | $813 | $660 | $693 |
| 2013 | $953 | $788 | $649 | $600 |
| 2012 | $940 | $777 | $591 | $580 |
| 2011 | $941 | $772 | $589 | $567 |
| 2010 | $955 | $779 | $640 | $611 |
| 2009 | $960 | $777 | $649 | $610 |
| 2007 | $927 | $745 | $686 | $620 |
| 2005 | $910 | $729 | $569 | $545 |
Putnam County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Putnam County Tennessee was 5.40% according to Census ACS data.
Rental Vacancy Rate in Putnam County Tennessee
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Tennessee | 7.27% | -0.29% | +0.59% |
| Putnam County TN | — | — | — |
Trends in Putnam County TN Rental Vacancy Rate
The rental vacancy rate in Putnam County peaked in 2008 at 17.06%. Since then it has fallen by 11.66% to 5.40%. Data records for this series originated in 2005. From a 2011 post peak low of 5.07%, the rental vacancy rate has increased by 0.33%.
Rental Vacancy Rate: Putnam County TN, Tennessee, US
Historical Rental Vacancy Rate data for Putnam County
| Date | US | Tennessee | Putnam County TN |
|---|---|---|---|
| 2019 | 5.97% | 7.27% | — |
| 2018 | 6.15% | 7.56% | — |
| 2017 | 6.18% | 6.67% | 5.40% |
| 2016 | 5.89% | 6.68% | — |
| 2015 | 5.85% | 7.13% | — |
| 2014 | 6.32% | 7.24% | — |
| 2013 | 6.49% | 7.86% | — |
| 2012 | 6.77% | 7.89% | — |
| 2011 | 7.40% | 8.54% | 5.07% |
| 2010 | 8.17% | 10.33% | — |
| 2009 | 8.43% | 10.52% | — |
| 2007 | 7.87% | 9.20% | — |
| 2005 | 7.74% | 8.82% | 6.87% |
Rent as a Fraction of Income
Using median household income data for Putnam County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Putnam County, median monthly gross rent as a fraction of median household income was 18.14% in 2019 according to the ACS.
Putnam 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% |
| Putnam County TN | 18.14% | -0.92% | -1.73% |
Trends in Putnam County TN Rent as a Fraction of Income
The fraction of median Putnam County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 23.51%. Since then it has fallen by 5.36% to 18.14%.
Fraction of Income towards Rent: Putnam County TN, Tennessee, US
Historical Data for Annual Rent as a Fraction of Income in Putnam County Tennessee
| Date | US | Tennessee | Putnam County TN |
|---|---|---|---|
| 2019 | 20.03% | 19.35% | 18.14% |
| 2018 | 20.50% | 19.73% | 19.06% |
| 2017 | 20.13% | 19.47% | 19.79% |
| 2016 | 20.43% | 19.92% | 19.87% |
| 2015 | 20.63% | 19.93% | 20.68% |
| 2014 | 20.89% | 20.83% | 21.12% |
| 2013 | 20.78% | 20.26% | 23.51% |
| 2012 | 20.65% | 20.48% | 21.14% |
| 2011 | 20.70% | 20.58% | 19.89% |
| 2010 | 20.50% | 20.17% | 20.85% |
| 2009 | 20.12% | 19.61% | 22.04% |
| 2007 | 18.66% | 17.96% | 19.98% |
| 2005 | 18.89% | 18.00% | 17.69% |
Renter Fraction in Putnam County Tennessee
You can calculate the renter fraction in Putnam 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 Putnam County as a fraction of total Putnam County households. In 2019 35.90% of households were renters according to Census ACS data.
Putnam 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% |
| Putnam County TN | 35.90% | -5.23% | -2.24% |
Trends in the Putnam County TN Renter Fraction
The Putnam County household renter fraction peaked in in 2018 at 41.13% and is now 5.23% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Putnam County TN, Tennessee, US
History of Putnam County Renter Fraction
| Date | US | Tennessee | Putnam County TN |
|---|---|---|---|
| 2019 | 35.89% | 33.49% | 35.90% |
| 2018 | 36.05% | 33.77% | 41.13% |
| 2017 | 36.13% | 34.57% | 40.98% |
| 2016 | 36.88% | 34.91% | 38.14% |
| 2015 | 36.97% | 34.18% | 36.47% |
| 2014 | 36.90% | 33.86% | 38.70% |
| 2013 | 36.50% | 33.62% | 40.62% |
| 2012 | 36.09% | 33.31% | 36.16% |
| 2011 | 35.42% | 32.72% | 36.59% |
| 2010 | 34.65% | 31.87% | 38.68% |
| 2009 | 34.13% | 30.85% | 31.15% |
| 2007 | 32.80% | 30.06% | 34.71% |
| 2005 | 33.10% | 30.74% | 38.15% |
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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