Midland Texas Residential Rent and Rental Statistics
The median monthly gross residential rent in Midland, TX (the Midland metro area) was $1,417 in 2019 according to the Census ACS survey.1 Average gross rent in Midland was $1,366 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 Midland median and average rent data will be released in September of 2021.
Data is also available below for Midland rental vacancy rates, Midland rent as a percent of median income and the fraction of renters in Midland.
Real Gross Rent in Midland 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% |
| Midland, TX Median Gross Rent | $1,417 | +8.67% | +19.28% |
Midland, TX Real Gross Rent Trends
At $1,417, real median gross rent in Midland was at its highest level in 2019 since the series began in 2005. At $1,366, real average gross rent in Midland was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Midland: Midland TX Median, Midland TX Average, Texas Median, US Median
Real Gross Rent History for Midland
| Date | US Median |
Texas Median |
Midland, TX Median |
Midland, TX Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,091 | $1,417 | $1,366 |
| 2018 | $1,077 | $1,065 | $1,304 | $1,234 |
| 2017 | $1,043 | $1,018 | $1,131 | $1,185 |
| 2016 | $1,027 | $1,001 | $1,188 | $1,168 |
| 2015 | $1,017 | $989 | $1,269 | $1,304 |
| 2014 | $986 | $946 | $1,277 | $1,255 |
| 2013 | $953 | $902 | $1,146 | $1,165 |
| 2012 | $940 | $884 | $1,001 | $1,056 |
| 2011 | $941 | $878 | $1,023 | $954 |
| 2010 | $955 | $895 | $948 | $944 |
| 2009 | $960 | $898 | $938 | $960 |
| 2007 | $927 | $862 | $784 | $812 |
| 2005 | $910 | $839 | $716 | $709 |
Midland Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Midland Texas was 8.00% according to Census ACS data.
Rental Vacancy Rate in Midland Texas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Texas | 8.15% | -0.06% | +0.50% |
| Midland, TX | — | — | — |
Trends in Midland, TX Rental Vacancy Rate
The rental vacancy rate in Midland peaked in 2010 at 12.59%. Since then it has fallen by 4.59% to 8.00%. Data records for this series originated in 2005.
Rental Vacancy Rate: Midland TX, Texas, US
Historical Rental Vacancy Rate data for Midland
| Date | US | Texas | Midland, TX |
|---|---|---|---|
| 2019 | 5.97% | 8.15% | — |
| 2018 | 6.15% | 8.21% | — |
| 2017 | 6.18% | 8.49% | — |
| 2016 | 5.89% | 7.65% | — |
| 2015 | 5.85% | 6.95% | — |
| 2014 | 6.32% | 7.30% | 8.00% |
| 2013 | 6.49% | 7.86% | — |
| 2012 | 6.77% | 8.53% | — |
| 2011 | 7.40% | 9.23% | — |
| 2010 | 8.17% | 10.60% | 12.59% |
| 2009 | 8.43% | 10.69% | — |
| 2007 | 7.87% | 10.61% | — |
| 2005 | 7.74% | 10.60% | — |
Rent as a Fraction of Income
Using median household income data for Midland, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Midland, median monthly gross rent as a fraction of median household income was 20.57% in 2019 according to the ACS.
Midland 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% |
| Midland, TX | 20.57% | +1.54% | -0.31% |
Trends in Midland, TX Rent as a Fraction of Income
The fraction of median Midland household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 20.92%. Since then it has fallen by 0.34% to 20.57%.
Fraction of Income towards Rent: Midland TX, Texas, US
Historical Data for Annual Rent as a Fraction of Income in Midland Texas
| Date | US | Texas | Midland, TX |
|---|---|---|---|
| 2019 | 20.03% | 20.45% | 20.57% |
| 2018 | 20.50% | 20.70% | 19.04% |
| 2017 | 20.13% | 20.00% | 17.49% |
| 2016 | 20.43% | 20.28% | 20.88% |
| 2015 | 20.63% | 20.10% | 17.77% |
| 2014 | 20.89% | 20.27% | 18.72% |
| 2013 | 20.78% | 19.89% | 18.27% |
| 2012 | 20.65% | 19.65% | 18.41% |
| 2011 | 20.70% | 19.75% | 20.92% |
| 2010 | 20.50% | 19.77% | 19.14% |
| 2009 | 20.12% | 19.59% | 17.95% |
| 2007 | 18.66% | 18.52% | 15.63% |
| 2005 | 18.89% | 19.11% | 16.59% |
Renter Fraction in Midland Texas
You can calculate the renter fraction in Midland 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 Midland as a fraction of total Midland households. In 2019 30.44% of households were renters according to Census ACS data.
Midland 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% |
| Midland, TX | 30.44% | -3.44% | -6.87% |
Trends in the Midland, TX Renter Fraction
The Midland household renter fraction peaked in in 2016 at 37.31% and is now 6.87% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Midland TX, Texas, US
History of Midland Renter Fraction
| Date | US | Texas | Midland, TX |
|---|---|---|---|
| 2019 | 35.89% | 38.12% | 30.44% |
| 2018 | 36.05% | 38.28% | 33.88% |
| 2017 | 36.13% | 38.03% | 33.11% |
| 2016 | 36.88% | 38.91% | 37.31% |
| 2015 | 36.97% | 38.94% | 29.07% |
| 2014 | 36.90% | 38.84% | 33.73% |
| 2013 | 36.50% | 38.16% | 36.76% |
| 2012 | 36.09% | 37.72% | 33.41% |
| 2011 | 35.42% | 37.08% | 33.35% |
| 2010 | 34.65% | 36.42% | 30.92% |
| 2009 | 34.13% | 36.32% | 30.68% |
| 2007 | 32.80% | 34.82% | 31.34% |
| 2005 | 33.10% | 35.29% | 35.06% |
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. ↩
