Amarillo Texas Residential Rent and Rental Statistics
The median monthly gross residential rent in Amarillo, TX (the Amarillo metro area) was $860 in 2019 according to the Census ACS survey.1 Average gross rent in Amarillo was $868 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 Amarillo median and average rent data will be released in September of 2021.
Data is also available below for Amarillo rental vacancy rates, Amarillo rent as a percent of median income and the fraction of renters in Amarillo.
Real Gross Rent in Amarillo Texas (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Texas Median Gross Rent | $1,091 | +2.44% | +8.99% |
| Amarillo, TX Median Gross Rent | $860 | +1.42% | +1.53% |
Amarillo, TX Real Gross Rent Trends
At $860, real median gross rent in Amarillo was at its highest level in 2019 since the series began in 2005. Average gross rent for Amarillo peaked in real terms in 2015 at $892 and is now $24 (2.69%) lower.
Real Gross Rent in Amarillo: Amarillo TX Median, Amarillo TX Average, Texas Median, US Median
Real Gross Rent History for Amarillo
| Date | US Median |
Texas Median |
Amarillo, TX Median |
Amarillo, TX Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,091 | $860 | $868 |
| 2018 | $1,077 | $1,065 | $848 | $871 |
| 2017 | $1,043 | $1,018 | $852 | $849 |
| 2016 | $1,027 | $1,001 | $847 | $875 |
| 2015 | $1,017 | $989 | $843 | $892 |
| 2014 | $986 | $946 | $846 | $841 |
| 2013 | $953 | $902 | $787 | $815 |
| 2012 | $940 | $884 | $780 | $785 |
| 2011 | $941 | $878 | $752 | $791 |
| 2010 | $955 | $895 | $762 | $730 |
| 2009 | $960 | $898 | $749 | $739 |
| 2007 | $927 | $862 | $724 | $730 |
| 2005 | $910 | $839 | $715 | $690 |
Amarillo 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 Amarillo Texas was 11.05% according to Census ACS data.
Rental Vacancy Rate in Amarillo Texas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Texas | 8.15% | -0.06% | +0.50% |
| Amarillo, TX | 11.05% | +2.15% | -0.02% |
Trends in Amarillo, TX Rental Vacancy Rate
The rental vacancy rate in Amarillo peaked in 2009 at 12.73%. Since then it has fallen by 1.68% to 11.05%. Data records for this series originated in 2005. From a 2010 post peak low of 5.87%, the rental vacancy rate has increased by 5.18%.
Rental Vacancy Rate: Amarillo TX, Texas, US
Historical Rental Vacancy Rate data for Amarillo
| Date | US | Texas | Amarillo, TX |
|---|---|---|---|
| 2019 | 5.97% | 8.15% | 11.05% |
| 2018 | 6.15% | 8.21% | 8.90% |
| 2017 | 6.18% | 8.49% | 8.15% |
| 2016 | 5.89% | 7.65% | 11.07% |
| 2015 | 5.85% | 6.95% | 8.56% |
| 2014 | 6.32% | 7.30% | 8.94% |
| 2013 | 6.49% | 7.86% | 6.68% |
| 2012 | 6.77% | 8.53% | 8.12% |
| 2011 | 7.40% | 9.23% | 7.17% |
| 2010 | 8.17% | 10.60% | 5.87% |
| 2009 | 8.43% | 10.69% | 12.73% |
| 2007 | 7.87% | 10.61% | 11.76% |
| 2005 | 7.74% | 10.60% | 7.64% |
Rent as a Fraction of Income
Using median household income data for Amarillo, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Amarillo, median monthly gross rent as a fraction of median household income was 19.29% in 2019 according to the ACS.
Amarillo Texas Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Texas | 20.45% | -0.26% | +0.16% |
| Amarillo, TX | 19.29% | +0.46% | +1.47% |
Trends in Amarillo, TX Rent as a Fraction of Income
Amarillo renters paid 19.29% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Amarillo TX, Texas, US
Historical Data for Annual Rent as a Fraction of Income in Amarillo Texas
| Date | US | Texas | Amarillo, TX |
|---|---|---|---|
| 2019 | 20.03% | 20.45% | 19.29% |
| 2018 | 20.50% | 20.70% | 18.83% |
| 2017 | 20.13% | 20.00% | 18.38% |
| 2016 | 20.43% | 20.28% | 17.82% |
| 2015 | 20.63% | 20.10% | 18.44% |
| 2014 | 20.89% | 20.27% | 18.74% |
| 2013 | 20.78% | 19.89% | 18.22% |
| 2012 | 20.65% | 19.65% | 18.94% |
| 2011 | 20.70% | 19.75% | 17.64% |
| 2010 | 20.50% | 19.77% | 17.64% |
| 2009 | 20.12% | 19.59% | 18.18% |
| 2007 | 18.66% | 18.52% | 17.57% |
| 2005 | 18.89% | 19.11% | 18.75% |
Renter Fraction in Amarillo Texas
You can calculate the renter fraction in Amarillo 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 Amarillo as a fraction of total Amarillo households. In 2019 35.45% of households were renters according to Census ACS data.
Amarillo Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Texas | 38.12% | -0.16% | -0.79% |
| Amarillo, TX | 35.45% | -0.61% | -1.46% |
Trends in the Amarillo, TX Renter Fraction
The Amarillo household renter fraction peaked in in 2016 at 36.91% and is now 1.46% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Amarillo TX, Texas, US
History of Amarillo Renter Fraction
| Date | US | Texas | Amarillo, TX |
|---|---|---|---|
| 2019 | 35.89% | 38.12% | 35.45% |
| 2018 | 36.05% | 38.28% | 36.06% |
| 2017 | 36.13% | 38.03% | 35.23% |
| 2016 | 36.88% | 38.91% | 36.91% |
| 2015 | 36.97% | 38.94% | 36.23% |
| 2014 | 36.90% | 38.84% | 35.74% |
| 2013 | 36.50% | 38.16% | 35.98% |
| 2012 | 36.09% | 37.72% | 36.24% |
| 2011 | 35.42% | 37.08% | 34.72% |
| 2010 | 34.65% | 36.42% | 36.19% |
| 2009 | 34.13% | 36.32% | 35.64% |
| 2007 | 32.80% | 34.82% | 35.96% |
| 2005 | 33.10% | 35.29% | 32.32% |
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. ↩
