Smith County Texas Residential Rent and Rental Statistics
The median monthly gross residential rent in Smith County TX was $994 in 2019 according to the Census ACS survey.1 Average gross rent in Smith County was $968 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 Smith County median and average rent data will be released in September of 2021.
Data is also available below for Smith County rental vacancy rates, Smith County rent as a percent of median income and the fraction of renters in Smith County.
Real Gross Rent in Smith County 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% |
| Smith County TX Median Gross Rent | $994 | +2.37% | +10.94% |
Smith County TX Real Gross Rent Trends
At $994, real median gross rent in Smith County was at its highest level in 2019 since the series began in 2005. Average gross rent for Smith County peaked in real terms in 2018 at $974 and is now $6 (0.62%) lower.
Real Gross Rent: Smith County TX Median, Smith County TX Average, Texas Median, US Median
Real Gross Rent History for Smith County
| Date | US Median |
Texas Median |
Smith County TX Median |
Smith County TX Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,091 | $994 | $968 |
| 2018 | $1,077 | $1,065 | $971 | $974 |
| 2017 | $1,043 | $1,018 | $910 | $911 |
| 2016 | $1,027 | $1,001 | $896 | $887 |
| 2015 | $1,017 | $989 | $904 | $915 |
| 2014 | $986 | $946 | $871 | $886 |
| 2013 | $953 | $902 | $888 | $920 |
| 2012 | $940 | $884 | $821 | $817 |
| 2011 | $941 | $878 | $872 | $910 |
| 2010 | $955 | $895 | $892 | $888 |
| 2009 | $960 | $898 | $831 | $824 |
| 2007 | $927 | $862 | $808 | $809 |
| 2005 | $910 | $839 | $815 | $825 |
Smith 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 Smith County Texas was 7.64% according to Census ACS data.
Rental Vacancy Rate in Smith County Texas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Texas | 8.15% | -0.06% | +0.50% |
| Smith County TX | 7.64% | -1.11% | -5.01% |
Trends in Smith County TX Rental Vacancy Rate
The rental vacancy rate in Smith County peaked in 2016 at 12.65%. Since then it has fallen by 5.01% to 7.64%. Data records for this series originated in 2005.
Rental Vacancy Rate: Smith County TX, Texas, US
Historical Rental Vacancy Rate data for Smith County
| Date | US | Texas | Smith County TX |
|---|---|---|---|
| 2019 | 5.97% | 8.15% | 7.64% |
| 2018 | 6.15% | 8.21% | 8.75% |
| 2017 | 6.18% | 8.49% | 9.99% |
| 2016 | 5.89% | 7.65% | 12.65% |
| 2015 | 5.85% | 6.95% | 6.21% |
| 2014 | 6.32% | 7.30% | 6.70% |
| 2013 | 6.49% | 7.86% | — |
| 2012 | 6.77% | 8.53% | 9.76% |
| 2011 | 7.40% | 9.23% | — |
| 2010 | 8.17% | 10.60% | 5.37% |
| 2009 | 8.43% | 10.69% | 7.67% |
| 2007 | 7.87% | 10.61% | 7.30% |
| 2005 | 7.74% | 10.60% | 9.85% |
Rent as a Fraction of Income
Using median household income data for Smith County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Smith County, median monthly gross rent as a fraction of median household income was 20.02% in 2019 according to the ACS.
Smith County 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% |
| Smith County TX | 20.02% | +0.36% | +0.48% |
Trends in Smith County TX Rent as a Fraction of Income
The fraction of median Smith County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 22.52%. Since then it has fallen by 2.50% to 20.02%.
Fraction of Income towards Rent: Smith County TX, Texas, US
Historical Data for Annual Rent as a Fraction of Income in Smith County Texas
| Date | US | Texas | Smith County TX |
|---|---|---|---|
| 2019 | 20.03% | 20.45% | 20.02% |
| 2018 | 20.50% | 20.70% | 19.66% |
| 2017 | 20.13% | 20.00% | 19.50% |
| 2016 | 20.43% | 20.28% | 19.54% |
| 2015 | 20.63% | 20.10% | 20.84% |
| 2014 | 20.89% | 20.27% | 22.52% |
| 2013 | 20.78% | 19.89% | 21.19% |
| 2012 | 20.65% | 19.65% | 20.01% |
| 2011 | 20.70% | 19.75% | 22.10% |
| 2010 | 20.50% | 19.77% | 22.16% |
| 2009 | 20.12% | 19.59% | 18.83% |
| 2007 | 18.66% | 18.52% | 18.51% |
| 2005 | 18.89% | 19.11% | 20.61% |
Renter Fraction in Smith County Texas
You can calculate the renter fraction in Smith 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 Smith County as a fraction of total Smith County households. In 2019 33.19% of households were renters according to Census ACS data.
Smith County 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% |
| Smith County TX | 33.19% | +0.27% | -0.16% |
Trends in the Smith County TX Renter Fraction
The Smith County household renter fraction peaked in in 2014 at 38.08% and is now 4.89% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Smith County TX, Texas, US
History of Smith County Renter Fraction
| Date | US | Texas | Smith County TX |
|---|---|---|---|
| 2019 | 35.89% | 38.12% | 33.19% |
| 2018 | 36.05% | 38.28% | 32.92% |
| 2017 | 36.13% | 38.03% | 32.92% |
| 2016 | 36.88% | 38.91% | 33.35% |
| 2015 | 36.97% | 38.94% | 33.98% |
| 2014 | 36.90% | 38.84% | 38.08% |
| 2013 | 36.50% | 38.16% | 33.58% |
| 2012 | 36.09% | 37.72% | 35.98% |
| 2011 | 35.42% | 37.08% | 31.97% |
| 2010 | 34.65% | 36.42% | 32.85% |
| 2009 | 34.13% | 36.32% | 29.91% |
| 2007 | 32.80% | 34.82% | 30.02% |
| 2005 | 33.10% | 35.29% | 34.85% |
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. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
Here's where you are
- Home
- / Rent
- / Texas
- / Smith County
