Department of Numbers

Fayetteville North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Fayetteville, NC (the Fayetteville metro area) was $888 in 2015 according to the Census ACS survey.1 Average gross rent in Fayetteville was $862 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 Fayetteville median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Fayetteville 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%
Fayetteville, NC Median Gross Rent $888 +4.10% +3.62%

Fayetteville, NC Real Gross Rent Trends

At $888, real median gross rent in Fayetteville was at its highest level in 2015 since the series began in 2005. At $862, real average gross rent in Fayetteville was at its highest level in 2015 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Fayetteville

Date US
Median
North Carolina
Median
Fayetteville, NC
Median
Fayetteville, NC
Average
2015 $959 $827 $888 $862
2014 $930 $799 $853 $820
2013 $898 $772 $820 $802
2012 $886 $758 $857 $821
2011 $887 $759 $835 $793
2010 $901 $770 $867 $837
2009 $905 $774 $826 $808
2008 $920 $775 $799 $758
2007 $874 $751 $826 $767
2006 $883 $759 $813 $743
2005 $858 $748 $827 $765

Fayetteville Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Fayetteville North Carolina was 9.27% according to Census ACS data.

Rental Vacancy Rate in Fayetteville North Carolina

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
North Carolina 7.02% -0.27% -0.98%
Fayetteville, NC 9.27% +0.21% +0.10%

Trends in Fayetteville, NC Rental Vacancy Rate

The rental vacancy rate in Fayetteville peaked in 2007 at 11.86%. Since then it has fallen by 2.59% to 9.27%. Data records for this series originated in 2005.

Rental Vacancy Rate: Fayetteville NC, North Carolina, US

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Fayetteville

Date US North Carolina Fayetteville, NC
2015 5.85% 7.02% 9.27%
2014 6.32% 7.29% 9.06%
2013 6.49% 7.46% 8.53%
2012 6.77% 8.00% 9.17%
2011 7.40% 9.31% 8.62%
2010 8.17% 9.97% 9.37%
2009 8.43% 10.10% 7.61%
2008 7.86% 9.58% 7.14%
2007 7.87% 9.26% 11.86%
2006 7.70% 9.98% 6.82%
2005 7.74% 9.99% 8.68%

Rent as a Fraction of Income

Using median household income data for Fayetteville, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Fayetteville, median monthly gross rent as a fraction of median household income was 25.42% in 2015 according to the ACS.

Fayetteville 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%
Fayetteville, NC 25.42% +1.04% +2.53%

Trends in Fayetteville, NC Rent as a Fraction of Income

Fayetteville renters paid 25.42% of median household income towards the median monthly gross rent in 2015. This is the highest fraction of median household income going to rent since the series originated in 2005.

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

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

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

Date US North Carolina Fayetteville, NC
2015 20.63% 20.75% 25.42%
2014 20.89% 20.70% 24.38%
2013 20.78% 20.34% 23.07%
2012 20.65% 20.09% 22.89%
2011 20.70% 20.36% 22.91%
2010 20.50% 20.25% 22.73%
2009 20.12% 19.78% 22.79%
2008 19.00% 17.89% 19.49%
2007 18.66% 18.21% 20.94%
2006 18.90% 18.47% 20.65%
2005 18.89% 18.71% 21.18%

Renter Fraction in Fayetteville North Carolina

You can calculate the renter fraction in Fayetteville 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 Fayetteville as a fraction of total Fayetteville households. In 2015 47.85% of households were renters according to Census ACS data.

Fayetteville 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%
Fayetteville, NC 47.85% +1.02% +3.17%

Trends in the Fayetteville, NC Renter Fraction

At 47.85%, the 2015 household based renter fraction in Fayetteville was at its highest level. The origin year for the series is 2005.

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

Fraction of renters in Fayetteville

History of Fayetteville Renter Fraction

Date US North Carolina Fayetteville, NC
2015 36.97% 36.13% 47.85%
2014 36.90% 35.75% 46.83%
2013 36.50% 35.74% 47.57%
2012 36.09% 34.56% 44.68%
2011 35.42% 33.49% 42.91%
2010 34.65% 32.83% 41.20%
2009 34.13% 32.81% 43.53%
2008 33.36% 31.82% 38.50%
2007 32.80% 31.70% 37.92%
2006 32.73% 31.94% 39.11%
2005 33.10% 31.81% 40.80%

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.