What does this measure?
The most recent monthly rent plus the average monthly payments for utilities and fuel, as reported to the Census Bureau, adjusted for inflation. The median represents the mid-point of monthly rents (half the values are above the median and half below).
Why is this important?
For those who do not own a home, rent is a necessary expense. The higher a family's rental expenses, the less they have to spend on their other needs. However, higher median rental values can also be indicative of a better home and community.
How is our region performing?
In 2013-17, the median monthly rent in the region was $830, lower than the $1,190 statewide median and the $980 national median. Median monthly rent in the region was essentially unchanged from 2008-12 through 2013-17, after decreasing 5% from 2000 to 2008-12. State and national median rents increased 15% and 7%, respectively, from 2000 to 2008-12, and again by 5% and 3% from 2008-12 to 2013-17.
All but two counties saw at least modest increases in median rent from 2008-12 to 2013-17, with the greatest increases in Yates (9%) and Seneca (7%). Wyoming and Orleans saw no change over the same time period. This followed decreases for every county between 2000 and 2008-12, with the largest declines in Orleans (11%) and Wyoming (10%).
Monroe had the region's highest median rent in 2013-17 at $870 per month, followed closely by Ontario at $840. Wyoming had the lowest at $630. The City of Rochester had a median rent of $810, higher than most counties except Monroe and Ontario. The City's median rent was slightly higher than Canandaigua ($800) and higher than Batavia ($760) and Geneva ($740).
Notes about the data
Data are presented in 2017 dollars. Multi-year figures are from the Census Bureau's American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census. Figures for the region and surrounding counties were calculated by aggregating county medians based on each county's share of the region's population. Data for this indicator are expected to be released in the fourth quarter.
|NYS (excluding NYC)||$896||$928||$926|
Notes: Figures are in constant 2015 dollars. Multiyear results are from rolling American Community Survey. * Margin of error between 20% & 35% of estimate; ** margin of error between 35% & 50%; *** margin of error greater than 50%.
|INDICATORS - Grouped by Topic||REGIONAL VALUE||YEAR||NYS COMPARISON||TREND | REGION|