Rental Market Conditions by State & Metropolitan Area
July 2016. Rental housing is among the top items on the nation's housing agenda. The past 30 years have witnessed a housing policy that has been focused on promoting homeownership. The large gap between the number of renting households and the units that they can afford will grow as home ownership becomes increasingly scarce for all but the most qualified buyers and renter/owner preferences change. Rental housing is an important component of national and local housing policies.
Gaining Insights in Housing Prices, Conditions & Markets
.. Characteristics, Patterns & Trends
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Related Housing Market Data & Analytical Resources
2010-2014 annual population estimates: county, metro, state, U.S.
ACS 2014 1-year demographic-economic tables: county, metro, state, U.S.
Housing Price Index
Housing Unit Trends & Patterns
ProximityOne Data Services: access/integrate these with other data
Each data resource section has associated GIS project & datasets.
CV XE GIS software: data analytics, maps, geospatial analysis
See related Interactive Ranking Tables
Using Tools & Data Resources in this Section
Use tools in this section to examine the rental housing market by state and metro. View/rank/compare rental market conditions using the interactive table (see below). Use the GIS tools to visually and geospatially analyze patterns and characteristics of interest. Members of the ProximityOne User Group may download the Metro Rental Housing Market GIS project and datasets for use with the CV XE GIS software. Develop variations on maps shown in this section; add your own data.
Metro Housing Market Reports
Register for information on Metro Housing Market Reports. Updated quarterly, these reports provide a comprehensive housing market assessment and outlook for the U.S. by metro with geographic drill-down (tract and ZIP code) within individual metros.
Rental Vacancy Rate by Metro 2014
This view shows the rental vacancy rate (RVR -- more about the RVR) in 2014 by metropolitan area. Blue/green metros have higher RVRs (above 6.3 the national RVR), yellow metros are just below the national RVR and orange/red metros have lower RVRs. Click graphic for larger view with details.
- view developed using CV XE GIS software and associated metro GIS project.
Housing Costs. In 2014, median gross rent in the metro areas (see about metros & and data) in the U.S. ranged from $533 in the Greeneville, TN metro to $1,779 in the San Jose-Sunnyvale- Santa Clara, CA metro Area compared with the national median of $934. Among the 508 metro areas, 413 (81.3 percent) had a median gross rent below the national median, 95 (18.7 percent) had a median gross rent above the national median. A comparison of all metro areas to the national median masks the tighter rental conditions faced by renters living in higher density metro areas.
Renter Burden. Nationwide, nearly 2 in 5 renter households (42.6 percent) were burdened by housing costs consuming 35 percent or more of their incomes. Housing cost burdens in the 508 metros ranged from a low of 19.5 percent of renting households in the Marshall, TX metro to a high of 62.2 percent of renting households in the Clearlake, CA metro. Many of the metros with the higher cost burden is due to a relatively large student population. Renters living in 212 of the 508 metro areas (41.7 percent) were above the national rate.
Rental Vacancy Rate. Nationwide, the rental vacancy rate was 6.3 percent. The rates in metros ranged from 0 percent in the Marinette, WI-MI metro to 45.3 percent in the Daphne-Fairhope-Foley, AL metro. Excess rental inventory was almost equally likely to plague metro areas than the national rental housing market as a whole, with 232 (45.7 percent) of all metro areas having a rental vacancy rate below the national rental vacancy rate and 276 (54.3 percent) having vacancy rates at or above the national rate.
Rental Vacancy Rate by Metro 2014 -- Southeast U.S.
The graphic below shows the rental vacancy rate (RVR) in 2014 by metropolitan area zoom-in to the southeast. The Atlanta metro is shown with bold brown boundary Orange/red metros have higher RVRs (above 6.3 the national RVR), yellow metros are closer to the national RVR and green/blue metros have lower RVRs. Click graphic for larger view with details and view of mini-profile for the Atlanta metro. Develop zoom-in maps similar to this view for any area using the GIS project.
- view developed using CV XE GIS software and associated metro GIS project.
2014 Rental Market Conditions by State and Metro Interactive Ranking Table
Click column header to sort; click again to sort other direction.
Initial view order: U.S., states, metros. See usage notes below table.
See related Ranking Tables Main Page
The table includes the U.S., states and all metros for which ACS 2014 1 year estimates were tabulated. By including all metros, MSAs or MISAs, the maximum number of metros are included. To select only MSAs, use "MSA" (case sensitive, without quotes) in the Find in Name edit box, then click Find in Name.
Click on a column header to sort on that column; click column header again to sort in other direction.
Click ShowAll button to show all areas and restore full set of data view.
Use horizontal scroll bar at base of table to scroll left-right.
scroll all the way right to view rental vacancy rate.
To view geographies in one state:
select state in dropdown below table; click ShowAll between selections.
Find by Name: key in partial area name in text box to right of Find-in-Name button
then click button to locate all matches (case sensitive).
See related ranking tables.
All items are for calendar year 2014
State - dominant MSA state
$MHI - median household income
Occ Hsg Units - Occupied Housing Units
Owner Occupied - Occupied Housing Units, Owner Occupied
Renter Occupied - Occupied Housing Units, Renter Occupied
%Renter Occ - Percent Renter Occupied Housing Units
$Median Rent - Median Gross Rent
Paid Renter Units - Renter Occupied Housing Units, Renter Occupied with paid rent
>35Pct Income - Renters spending 35% or more of income for gross rent
%>35Pct - Renters spending 35% or more of income for gross rent (percent)
RVR - Rental Vacancy Rate
Terms and Definitions (scroll section)
Metros and Core-Based Statistical Areas [goto top]
Metropolitan Statistical Areas (MSAs) and Micropolitan Statistical Areas (MISAs) are geographic entities delineated by the Office of Management and Budget (OMB) for use by Federal statistical agencies in collecting, tabulating, and publishing Federal statistics. The term "Core-Based Statistical Area" (CBSA) refer to the collective set of MSAs and MISAs. A MSA contains a core urban area of 50,000 or more population. A MISA contains an urban core of at least 10,000 (but less than 50,000) population. Each MSA or MISA consists of one or more counties and includes the counties containing the core urban area, as well as any adjacent counties that have a high degree of social and economic integration (as measured by commuting to work) with the urban core. The availability of data tabulated by MSA and MISA (and often less available for all counties or all cities) make MSAs and MISAs popular for the analysis of demographic, economic and business data.
There are 508 metros included in the interactive table (as well as the U.S. and all states). Metros are included that have 65,000 population or more and for which ACS 2014 1-year estimates were developed. All data in the table, and integrated into the GIS project/datasets, are based on data from the ACS 2014 1-year estimates. These and additional subject matter items are included in the related demographic profile interactive tables.
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Additional Information [goto top]
ProximityOne develops geographic-demographic-economic data and analytical tools and helps organizations knit together and use diverse data in a decision-making and analytical framework. We develop custom demographic/economic estimates and projections, develop geographic and geocoded address files, and assist with impact and geospatial analyses. Wide-ranging organizations use our software, data and methodologies to analyze their own data integrated with other data. Follow ProximityOne on Twitter at www.twitter.com/proximityone. Contact ProximityOne (888-364-7656) with questions about data covered in this section or to discuss custom estimates, projections or analyses for your areas of interest.