Fayetteville North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Fayetteville, NC (the Fayetteville metro area) was $940 in 2019 according to the Census ACS survey.1 Average gross rent in Fayetteville was $937 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Fayetteville median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Fayetteville North Carolina (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| North Carolina Median Gross Rent | $931 | +1.64% | +5.92% |
| Fayetteville, NC Median Gross Rent | $940 | -0.32% | +4.10% |
Fayetteville, NC Real Gross Rent Trends
Median gross rent for Fayetteville peaked in real terms in 2018 at $943 and is now $3 (0.32%) lower. At $937, real average gross rent in Fayetteville was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Fayetteville: Fayetteville NC Median, Fayetteville NC Average, North Carolina Median, US Median
Real Gross Rent History for Fayetteville
| Date | US Median |
North Carolina Median |
Fayetteville, NC Median |
Fayetteville, NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $940 | $937 |
| 2018 | $1,077 | $916 | $943 | $903 |
| 2017 | $1,043 | $888 | $897 | $874 |
| 2016 | $1,027 | $879 | $903 | $879 |
| 2015 | $1,017 | $877 | $942 | $914 |
| 2014 | $986 | $848 | $905 | $870 |
| 2013 | $953 | $819 | $870 | $851 |
| 2012 | $940 | $804 | $910 | $871 |
| 2011 | $941 | $805 | $886 | $841 |
| 2010 | $955 | $817 | $920 | $888 |
| 2009 | $960 | $821 | $876 | $857 |
| 2007 | $927 | $797 | $876 | $814 |
| 2005 | $910 | $794 | $878 | $811 |
Fayetteville Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Fayetteville North Carolina was 7.33% according to Census ACS data.
Rental Vacancy Rate in Fayetteville North Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| North Carolina | 6.60% | -0.43% | -0.39% |
| Fayetteville, NC | 7.33% | +0.32% | +0.31% |
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 4.53% to 7.33%. Data records for this series originated in 2005. From a 2017 post peak low of 6.56%, the rental vacancy rate has increased by 0.77%.
Rental Vacancy Rate: Fayetteville NC, North Carolina, US
Historical Rental Vacancy Rate data for Fayetteville
| Date | US | North Carolina | Fayetteville, NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 7.33% |
| 2018 | 6.15% | 7.03% | 7.01% |
| 2017 | 6.18% | 6.77% | 6.56% |
| 2016 | 5.89% | 6.99% | 7.02% |
| 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% |
| 2007 | 7.87% | 9.26% | 11.86% |
| 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 23.70% in 2019 according to the ACS.
Fayetteville North Carolina Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| North Carolina | 19.48% | -0.57% | -0.42% |
| Fayetteville, NC | 23.70% | -0.11% | +0.86% |
Trends in Fayetteville, NC Rent as a Fraction of Income
The fraction of median Fayetteville household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 25.42%. Since then it has fallen by 1.72% to 23.70%.
Fraction of Income towards Rent: Fayetteville NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Fayetteville North Carolina
| Date | US | North Carolina | Fayetteville, NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 23.70% |
| 2018 | 20.50% | 20.05% | 23.81% |
| 2017 | 20.13% | 19.59% | 23.33% |
| 2016 | 20.43% | 19.90% | 22.84% |
| 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% |
| 2007 | 18.66% | 18.21% | 20.94% |
| 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 2019 44.76% of households were renters according to Census ACS data.
Fayetteville Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| North Carolina | 34.69% | -0.17% | -1.09% |
| Fayetteville, NC | 44.76% | -1.97% | -1.52% |
Trends in the Fayetteville, NC Renter Fraction
The Fayetteville household renter fraction peaked in in 2017 at 47.95% and is now 3.19% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Fayetteville NC, North Carolina, US
History of Fayetteville Renter Fraction
| Date | US | North Carolina | Fayetteville, NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 44.76% |
| 2018 | 36.05% | 34.86% | 46.73% |
| 2017 | 36.13% | 34.60% | 47.95% |
| 2016 | 36.88% | 35.78% | 46.28% |
| 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% |
| 2007 | 32.80% | 31.70% | 37.92% |
| 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. ↩
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