Historical Census of Housing Tables: Gross Rents (2024)

FAQs

What is the census definition of gross rent? ›

Gross rent is the contract rent plus the estimated average monthly cost of utilities (electricity, gas, and water and sewer) and fuels (oil, coal, kerosene, wood, etc.) if these are paid by the renter (or paid for the renter by someone else).

We ask about when a building was built, and when a person moved into that home to produce statistics about housing availability. These statistics help federal agencies and programs analyze the availability of housing, understand changes in the age of homes, and measure neighborhood stability.

The 70s. In the 70s, America was hit with widespread “stagflation.” This refers to a state of simultaneous high inflation and high unemployment, which creates a stagnant economy. As a result, the median monthly rent price was $108, which is a whopping 65% higher than the 60s, the previous decade.

The formula for calculating the gross rent multiplier looks like this: Gross Rent Multiplier = Property Price or Value / Gross Rental Income.

Gross rent is the full amount paid for the rental before other expenses are subtracted, such as utility or maintenance costs. The amount may also be broken down into gross operating income and gross scheduled income.

A popular standard for budgeting rent is to follow the 30% rule, where you spend a maximum of 30% of your monthly income before taxes (your gross income) on your rent.

American households spend an average of $21,409 per year on housing costs, which makes up 25.8% of total average earnings.

The rent-to-income ratio was calculated by comparing the national median household income, $71,721, with the average monthly rent, $1,794, for 2022. The current 30% figure is an increase from 28.5% in 2021, and from 25.7% in 2020.

The Census Bureau will not ask you to provide your personal information via email. The Census Bureau will never ask for your full Social Security number, bank account number, or passwords.

How does census ask about income? ›

The Census asks about your specific income sources. For the last two decennial censuses and the American Community Survey (which is replacing the decennial census as the instrument for collecting income data in the U.S.) these sources are: Wages, salary, commissions, bonuses, or tips from all jobs.

Yes, your response is required by law. Title 13 United States Code, Sections 131 and 182, authorizes this collection. Sections 224 and 225 require your response. The U.S. Census Bureau is required by Section 9 of the same law to keep your information confidential and can use your responses only to produce statistics.

"Home prices are flat, but because mortgages have gone up so much, the cost of buying a home is still up. So it's at a record high," realtor.com chief economist Danielle Hale, told Newsweek. "So it's very expensive for people to buy a home. Despite that, you know, we're still seeing prices stay flat."

The median contract rent in 1950 in urban areas was $37* which is about half again as much as in rural areas. For nonwhite renters the median in 1950 was $25* two and one-half times as much as in 191*0' when it was $10.

Rent prices for a single person's apartment in the 1920s averaged at about $60 per month. Yes… just $60 per month! According to the US Inflation Calculator, however, that amount of money would be equivalent to about $776 today, which is on the lower end of apartment rental prices nowadays.

Net rent represents your true expenses as a tenant. Whereas gross rent is a fixed amount you must pay per month, net rent might include other expenses such as utilities which will vary by month and usage.

A triple net lease is the flipside to a gross lease, where the tenant pays a simplified, all-inclusive rent to the landlord, who uses that cash to cover the expenses of running the building as they see fit.

Gross Scheduled Income: A Definition

Gross Scheduled Income refers to the amount of cash generated by a commercial property, with the assumption that the property is at full capacity, with no vacant units.

Gross Rental Revenue means the total fees charged by the Property Manager to the Renter, including but not limited to taxes, housekeeping fees and service fees for processing online credit card payments.