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Median Rent for Recent Movers

Variable Definitions:
Rent Price for Recent Movers: the median value of monthly gross rent in an area, shown only for households in which every household member moved into the unit within the previous 12 months, measured in 2022 dollars

Recent Rent as a Share of Area Median Rent: Median gross rent for households who recently moved into the unit, shown as a share of median gross rent for all renters in the neighborhood. For this variable, a value over 100 indicates that rents for recently vacant units are higher than the median neighborhood rent, suggesting that rent prices are rising. A value of less than 100 indicates that rents for recently vacant units are below the median neighborhood rent, suggesting that rent prices are falling.

Other Notes

The American Community Survey capped the median rent price between $100 and $3,500. All census tracts with a median rent of under $100 or over $3,500 for these years are shown as $100 and $3,500, respectively.

Source:
American Community Survey, 5-year estimates, Table B25113

Years Available:

2016, 2017, 2018, 2019, 2020, 2021, 2022

*Note: Each year of available data shown above is a 5-year estimate, or an average of data collected over a five year period. 5-year estimates are used to increase the reliability of the data at small geographies like neighborhoods and census tracts. The years shown on the NDSC map represent the final year of the five year average (e.g. “2010” represents 2006-2010 data, “2011” represents 2007-2011 data, and so on). For the most impactful comparison of data over time, the ACS recommends comparing non-overlapping years (e.g. 2010-14 with 2015-19).

Why are these variables important to measure?

Rent Price for Recent Movers

The Rent Price for Recent Movers reflects the typical monthly rent paid by those who’ve relocated within the last year. This figure provides insight into how much newcomers pay for housing compared to early residents. Unlike the overall median gross rent, which considers all renters, this specific metric focuses solely on recent movers. Given the steady rise in rental rates, individuals residing in their homes for an extended period often pay less. Therefore, this variable offers a more current view of an area’s rental housing market compared to the broader median rent.

This variable signals if rent prices are changing. If the median rent for recent movers is high, it means new folks are paying a lot more, due to recent housing cost jumps. If this number is lower, it means the market is steady, and recent movers aren’t facing big rent hikes. Thus, it helps us see if an area is getting more costly to live in or if prices are staying somewhat the same.

Recent Rent as a Share of Area Median Rent

The Recent Rent as a Share of Area Median Rent ratio tells us how much more recent movers are paying compared to longer-term residents. For this variable, a value over 100 indicates that rents for recently vacant units are higher than the median neighborhood rent, suggesting that rent prices are rising. A value of less than 100 indicates that rents for recently vacant units are below the median neighborhood rent, suggesting that rent prices are falling.

Written by Nicole Ouyang

Citation:

US Census Bureau. “American Community Survey and Puerto Rico Community Survey. 2016 Subject Definitions.” 2016. Link

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