Wise County Texas Residential Rent and Rental Statistics
The median monthly gross residential rent in Wise County TX was $793 in 2019 according to the Census ACS survey.1 Average gross rent in Wise County was $841 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 Wise County median and average rent data will be released in September of 2021.
Data is also available below for Wise County rental vacancy rates, Wise County rent as a percent of median income and the fraction of renters in Wise County.
Real Gross Rent in Wise 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% |
| Wise County TX Median Gross Rent | $793 | -23.90% | — |
Wise County TX Real Gross Rent Trends
Median gross rent for Wise County peaked in real terms in 2018 at $1,042 and is now $249 (23.90%) lower. At $841, real average gross rent in Wise County was at its highest level in 2019 since the series began in 2017.
Real Gross Rent: Wise County TX Median, Wise County TX Average, Texas Median, US Median
Real Gross Rent History for Wise County
| Date | US Median |
Texas Median |
Wise County TX Median |
Wise County TX Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,091 | $793 | $841 |
| 2018 | $1,077 | $1,065 | $1,042 | $720 |
| 2017 | $1,043 | $1,018 | $900 | $823 |
| 2016 | $1,027 | $1,001 | — | — |
| 2015 | $1,017 | $989 | — | — |
| 2014 | $986 | $946 | — | — |
| 2013 | $953 | $902 | — | — |
| 2012 | $940 | $884 | — | — |
| 2011 | $941 | $878 | — | — |
| 2010 | $955 | $895 | — | — |
| 2009 | $960 | $898 | — | — |
| 2007 | $927 | $862 | — | — |
| 2005 | $910 | $839 | — | — |
Wise County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Wise County Texas was 5.49% according to Census ACS data.
Rental Vacancy Rate in Wise County Texas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Texas | 8.15% | -0.06% | +0.50% |
| Wise County TX | — | — | — |
Trends in Wise County TX Rental Vacancy Rate
At 5.49%, Wise County residential rental vacancy rate in 2018 is at the highest point since 2017, the beginning of our reporting for this series.
Rental Vacancy Rate: Wise County TX, Texas, US
Historical Rental Vacancy Rate data for Wise County
| Date | US | Texas | Wise County TX |
|---|---|---|---|
| 2019 | 5.97% | 8.15% | — |
| 2018 | 6.15% | 8.21% | 5.49% |
| 2017 | 6.18% | 8.49% | 5.30% |
| 2016 | 5.89% | 7.65% | — |
| 2015 | 5.85% | 6.95% | — |
| 2014 | 6.32% | 7.30% | — |
| 2013 | 6.49% | 7.86% | — |
| 2012 | 6.77% | 8.53% | — |
| 2011 | 7.40% | 9.23% | — |
| 2010 | 8.17% | 10.60% | — |
| 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 Wise County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wise County, median monthly gross rent as a fraction of median household income was 13.32% in 2019 according to the ACS.
Wise 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% |
| Wise County TX | 13.32% | -4.47% | — |
Trends in Wise County TX Rent as a Fraction of Income
The fraction of median Wise County household income required to pay median monthly gross rent peaked in 2017 (relative to the 2017 series origin) at 17.80%. Since then it has fallen by 4.48% to 13.32%.
Fraction of Income towards Rent: Wise County TX, Texas, US
Historical Data for Annual Rent as a Fraction of Income in Wise County Texas
| Date | US | Texas | Wise County TX |
|---|---|---|---|
| 2019 | 20.03% | 20.45% | 13.32% |
| 2018 | 20.50% | 20.70% | 17.80% |
| 2017 | 20.13% | 20.00% | 17.80% |
| 2016 | 20.43% | 20.28% | — |
| 2015 | 20.63% | 20.10% | — |
| 2014 | 20.89% | 20.27% | — |
| 2013 | 20.78% | 19.89% | — |
| 2012 | 20.65% | 19.65% | — |
| 2011 | 20.70% | 19.75% | — |
| 2010 | 20.50% | 19.77% | — |
| 2009 | 20.12% | 19.59% | — |
| 2007 | 18.66% | 18.52% | — |
| 2005 | 18.89% | 19.11% | — |
Renter Fraction in Wise County Texas
You can calculate the renter fraction in Wise 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 Wise County as a fraction of total Wise County households. In 2019 17.49% of households were renters according to Census ACS data.
Wise 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% |
| Wise County TX | 17.49% | -3.88% | — |
Trends in the Wise County TX Renter Fraction
The Wise County household renter fraction peaked in in 2017 at 23.60% and is now 6.11% below that level. The origin year for the series is 2017.
Fraction of Renting Households: Wise County TX, Texas, US
History of Wise County Renter Fraction
| Date | US | Texas | Wise County TX |
|---|---|---|---|
| 2019 | 35.89% | 38.12% | 17.49% |
| 2018 | 36.05% | 38.28% | 21.37% |
| 2017 | 36.13% | 38.03% | 23.60% |
| 2016 | 36.88% | 38.91% | — |
| 2015 | 36.97% | 38.94% | — |
| 2014 | 36.90% | 38.84% | — |
| 2013 | 36.50% | 38.16% | — |
| 2012 | 36.09% | 37.72% | — |
| 2011 | 35.42% | 37.08% | — |
| 2010 | 34.65% | 36.42% | — |
| 2009 | 34.13% | 36.32% | — |
| 2007 | 32.80% | 34.82% | — |
| 2005 | 33.10% | 35.29% | — |
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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