Department of Numbers

Burlington North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Burlington, NC (the Burlington metro area) was $743 in 2015 according to the Census ACS survey.1 Average gross rent in Burlington was $758 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Burlington median and average rent data will be released in September of 2017.

Data is also available below for Burlington rental vacancy rates, Burlington rent as a percent of median income and the fraction of renters in Burlington.

Show dollars as: Nominal Real

Real Gross Rent in Burlington North Carolina (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
North Carolina Median Gross Rent $827 +3.50% +9.10%
Burlington, NC Median Gross Rent $743 -3.00% +6.60%

Burlington, NC Real Gross Rent Trends

Median gross rent for Burlington peaked in real terms in 2008 at $767 and is now $24 (3.13%) lower. From a recent low of 692.0 in 2011, real median gross rent has now increased by $51 (7.37%). Average gross rent for Burlington peaked in real terms in 2007 at $771 and is now $13 (1.69%) lower. From a recent low of 647.0 in 2012, real average gross rent has now increased by $111 (17.16%).

Real Gross Rent in Burlington: Burlington NC Median, Burlington NC Average, North Carolina Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Burlington

Date US
Median
North Carolina
Median
Burlington, NC
Median
Burlington, NC
Average
2015 $959 $827 $743 $758
2014 $930 $799 $766 $757
2013 $898 $772 $731 $728
2012 $886 $758 $697 $647
2011 $887 $759 $692 $705
2010 $901 $770 $698 $710
2009 $905 $774 $741 $736
2008 $920 $775 $767 $756
2007 $874 $751 $761 $771
2006 $883 $759 $763 $734
2005 $858 $748 $755 $733

Burlington Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Burlington North Carolina was 6.14% according to Census ACS data.

Rental Vacancy Rate in Burlington North Carolina

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
North Carolina 7.02% -0.27% -0.98%
Burlington, NC

Trends in Burlington, NC Rental Vacancy Rate

The rental vacancy rate in Burlington peaked in 2009 at 16.17%. Since then it has fallen by 10.03% to 6.14%. Data records for this series originated in 2005.

Rental Vacancy Rate: Burlington NC, North Carolina, US

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Burlington

Date US North Carolina Burlington, NC
2015 5.85% 7.02%
2014 6.32% 7.29% 6.14%
2013 6.49% 7.46%
2012 6.77% 8.00% 9.12%
2011 7.40% 9.31%
2010 8.17% 9.97%
2009 8.43% 10.10% 16.17%
2008 7.86% 9.58% 5.10%
2007 7.87% 9.26%
2006 7.70% 9.98%
2005 7.74% 9.99% 9.70%

Rent as a Fraction of Income

Using median household income data for Burlington, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Burlington, median monthly gross rent as a fraction of median household income was 22.55% in 2015 according to the ACS.

Burlington North Carolina Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
North Carolina 20.75% +0.05% +0.66%
Burlington, NC 22.55% -0.80% +1.58%

Trends in Burlington, NC Rent as a Fraction of Income

The fraction of median Burlington household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 23.35%. Since then it has fallen by 0.80% to 22.55%.

Fraction of Income towards Rent: Burlington NC, North Carolina, US

Percent of median household income going towards median monthly gross rent in Burlington North Carolina

Historical Data for Annual Rent as a Fraction of Income in Burlington North Carolina

Date US North Carolina Burlington, NC
2015 20.63% 20.75% 22.55%
2014 20.89% 20.70% 23.35%
2013 20.78% 20.34% 20.78%
2012 20.65% 20.09% 20.96%
2011 20.70% 20.36% 20.05%
2010 20.50% 20.25% 19.38%
2009 20.12% 19.78% 19.37%
2008 19.00% 17.89% 19.25%
2007 18.66% 18.21% 19.86%
2006 18.90% 18.47% 19.32%
2005 18.89% 18.71% 19.06%

Renter Fraction in Burlington North Carolina

You can calculate the renter fraction in Burlington in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Burlington as a fraction of total Burlington households. In 2015 37.37% of households were renters according to Census ACS data.

Burlington Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
North Carolina 36.13% +0.38% +1.57%
Burlington, NC 37.37% +2.75% +1.24%

Trends in the Burlington, NC Renter Fraction

At 37.37%, the 2015 household based renter fraction in Burlington was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Burlington NC, North Carolina, US

Fraction of renters in Burlington

History of Burlington Renter Fraction

Date US North Carolina Burlington, NC
2015 36.97% 36.13% 37.37%
2014 36.90% 35.75% 34.62%
2013 36.50% 35.74% 34.45%
2012 36.09% 34.56% 36.13%
2011 35.42% 33.49% 31.79%
2010 34.65% 32.83% 34.67%
2009 34.13% 32.81% 30.69%
2008 33.36% 31.82% 33.98%
2007 32.80% 31.70% 31.47%
2006 32.73% 31.94% 35.22%
2005 33.10% 31.81% 28.56%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.