Laredo Texas Residential Rent and Rental Statistics
The median monthly gross residential rent in Laredo, TX (the Laredo metro area) was $855 in 2019 according to the Census ACS survey.1 Average gross rent in Laredo was $819 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 Laredo median and average rent data will be released in September of 2021.
Data is also available below for Laredo rental vacancy rates, Laredo rent as a percent of median income and the fraction of renters in Laredo.
Real Gross Rent in Laredo 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% |
| Laredo, TX Median Gross Rent | $855 | -1.95% | +4.01% |
Laredo, TX Real Gross Rent Trends
Median gross rent for Laredo peaked in real terms in 2018 at $872 and is now $17 (1.95%) lower. Average gross rent for Laredo peaked in real terms in 2018 at $826 and is now $7 (0.85%) lower.
Real Gross Rent in Laredo: Laredo TX Median, Laredo TX Average, Texas Median, US Median
Real Gross Rent History for Laredo
| Date | US Median |
Texas Median |
Laredo, TX Median |
Laredo, TX Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,091 | $855 | $819 |
| 2018 | $1,077 | $1,065 | $872 | $826 |
| 2017 | $1,043 | $1,018 | $826 | $797 |
| 2016 | $1,027 | $1,001 | $822 | $820 |
| 2015 | $1,017 | $989 | $823 | $818 |
| 2014 | $986 | $946 | $791 | $778 |
| 2013 | $953 | $902 | $749 | $749 |
| 2012 | $940 | $884 | $746 | $752 |
| 2011 | $941 | $878 | $808 | $814 |
| 2010 | $955 | $895 | $757 | $720 |
| 2009 | $960 | $898 | $819 | $764 |
| 2007 | $927 | $862 | $737 | $706 |
| 2005 | $910 | $839 | $723 | $731 |
Laredo 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 Laredo Texas was 7.53% according to Census ACS data.
Rental Vacancy Rate in Laredo Texas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Texas | 8.15% | -0.06% | +0.50% |
| Laredo, TX | 7.53% | +1.02% | -0.92% |
Trends in Laredo, TX Rental Vacancy Rate
The rental vacancy rate in Laredo peaked in 2017 at 9.84%. Since then it has fallen by 2.31% to 7.53%. Data records for this series originated in 2005.
Rental Vacancy Rate: Laredo TX, Texas, US
Historical Rental Vacancy Rate data for Laredo
| Date | US | Texas | Laredo, TX |
|---|---|---|---|
| 2019 | 5.97% | 8.15% | 7.53% |
| 2018 | 6.15% | 8.21% | 6.51% |
| 2017 | 6.18% | 8.49% | 9.84% |
| 2016 | 5.89% | 7.65% | 8.45% |
| 2015 | 5.85% | 6.95% | 4.94% |
| 2014 | 6.32% | 7.30% | 6.30% |
| 2013 | 6.49% | 7.86% | 5.80% |
| 2012 | 6.77% | 8.53% | 3.94% |
| 2011 | 7.40% | 9.23% | — |
| 2010 | 8.17% | 10.60% | 3.96% |
| 2009 | 8.43% | 10.69% | 5.10% |
| 2007 | 7.87% | 10.61% | 6.97% |
| 2005 | 7.74% | 10.60% | — |
Rent as a Fraction of Income
Using median household income data for Laredo, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Laredo, median monthly gross rent as a fraction of median household income was 18.29% in 2019 according to the ACS.
Laredo 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% |
| Laredo, TX | 18.29% | -3.65% | -8.12% |
Trends in Laredo, TX Rent as a Fraction of Income
The fraction of median Laredo household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 26.42%. Since then it has fallen by 8.12% to 18.29%.
Fraction of Income towards Rent: Laredo TX, Texas, US
Historical Data for Annual Rent as a Fraction of Income in Laredo Texas
| Date | US | Texas | Laredo, TX |
|---|---|---|---|
| 2019 | 20.03% | 20.45% | 18.29% |
| 2018 | 20.50% | 20.70% | 21.95% |
| 2017 | 20.13% | 20.00% | 22.14% |
| 2016 | 20.43% | 20.28% | 26.42% |
| 2015 | 20.63% | 20.10% | 23.41% |
| 2014 | 20.89% | 20.27% | 23.46% |
| 2013 | 20.78% | 19.89% | 21.33% |
| 2012 | 20.65% | 19.65% | 22.97% |
| 2011 | 20.70% | 19.75% | 24.84% |
| 2010 | 20.50% | 19.77% | 22.71% |
| 2009 | 20.12% | 19.59% | 22.53% |
| 2007 | 18.66% | 18.52% | 22.19% |
| 2005 | 18.89% | 19.11% | 21.84% |
Renter Fraction in Laredo Texas
You can calculate the renter fraction in Laredo 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 Laredo as a fraction of total Laredo households. In 2019 40.09% of households were renters according to Census ACS data.
Laredo 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% |
| Laredo, TX | 40.09% | +0.96% | +3.55% |
Trends in the Laredo, TX Renter Fraction
The Laredo household renter fraction peaked in in 2010 at 40.19% and is now 0.10% below that level. From a recent low of 34.36% in 2013, the household based renter fraction has now grown by 5.73%. The origin year for the series is 2005.
Fraction of Renting Households: Laredo TX, Texas, US
History of Laredo Renter Fraction
| Date | US | Texas | Laredo, TX |
|---|---|---|---|
| 2019 | 35.89% | 38.12% | 40.09% |
| 2018 | 36.05% | 38.28% | 39.13% |
| 2017 | 36.13% | 38.03% | 39.15% |
| 2016 | 36.88% | 38.91% | 36.54% |
| 2015 | 36.97% | 38.94% | 38.10% |
| 2014 | 36.90% | 38.84% | 38.78% |
| 2013 | 36.50% | 38.16% | 34.36% |
| 2012 | 36.09% | 37.72% | 36.69% |
| 2011 | 35.42% | 37.08% | 38.17% |
| 2010 | 34.65% | 36.42% | 40.19% |
| 2009 | 34.13% | 36.32% | 34.53% |
| 2007 | 32.80% | 34.82% | 34.93% |
| 2005 | 33.10% | 35.29% | 39.06% |
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. ↩
