Number of Housing Units by Contract Rent in Franklin County

The median contract rent in Franklin County was $355 in 1990. This is more than a 100% increase from the median contract rent of $175 in 1980. When adjusted for inflation, the real increase in median contract rent was 32% from 1980 to 1990. This is in sharp contrast to the 7% real decrease in median contract rent between 1970 and 1980.

As indicated by the graph above, the largest number of renter-occupied housing units in Franklin County (16.1% of total) had a contract rent between $350 and $399. There were nearly the same amount of units (16.0%) with contract rent between $300 and $349. At the extremes, there were 8,331 units (or 4.9% of total renter-occupied units) with contract rent below $100, and 1,359 units (or 0.8% of total units) with rent at $1,000 or more.

Contract rent is defined as the monthly rent agreed to, or contracted for, regardless of any furnishings, utilities, fees, meals, or services that may be included. The term median contract rent indicates that one half of renter-occupied units had contract rents below the median value, and one half had contract rents above the median.

Number of Housing Units by Contract Rent in Franklin County: 1990


  With Cash Rent       Number       Percent


 Less than $100         8,331          4.9
   $100 to $149         4,938          2.9
   $150 to $199         6,060          3.6
   $200 to $249        11,653          6.9
   $250 to $299        22,461         13.3
   $300 to $349        27,077         16.0
   $350 to $399        27,196         16.1
   $400 to $449        20,372         12.0
   $450 to $499        15,958          9.4
   $500 to $549         8,057          4.8
   $550 to $599         4,506          2.7
   $600 to $649         2,780          1.6
   $650 to $699         1,804          1.1
   $700 to $749         1,083          0.6
   $750 to $999         2,352          1.4
 $1,000 or More         1,359          0.8


Total With Cash Rent    165,987       98.2
No Cash Rent              3,077        1.8


Total                   169,064      100.0

Median Contract Rent in Franklin County in Actual Dollars and Dollars Adjusted for Inflation: 1970-1990

Years    Actual      Adjusted


1970        $92          $288
1980       $175          $269
1990       $355          $355

Note: The 1970 and 1980 median values were adjusted for inflation using the Implicit Price Deflator of the GNP for those Particular years. This method allows the user to observe the real changes in value over time.

The 1970 Median Value was computed as follows: $92 (1970 dollars) * [131.5/42.0] (1990 deflator/1970 deflator) = $288 (in 1990 dollars)

The 1980 Median Value was computed as follows: $175 (1980 dollars) * [131.5/85.7] (1990 deflator/1980 deflator) = $269 (in 1990 dollars)

Source: Census of Population and Housing, U.S. Bureau of the Census

Filename: CD-027

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