Department of Numbers

Goldsboro North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Goldsboro, NC (the Goldsboro metro area) was $718 in 2015 according to the Census ACS survey.1 Average gross rent in Goldsboro was $706 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 Goldsboro median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Goldsboro 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%
Goldsboro, NC Median Gross Rent $718 +2.57% +13.97%

Goldsboro, NC Real Gross Rent Trends

Median gross rent for Goldsboro peaked in real terms in 2013 at $747 and is now $29 (3.88%) lower. Average gross rent for Goldsboro peaked in real terms in 2013 at $710 and is now $4 (0.56%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Goldsboro

Date US
Median
North Carolina
Median
Goldsboro, NC
Median
Goldsboro, NC
Average
2015 $959 $827 $718 $706
2014 $930 $799 $700 $645
2013 $898 $772 $747 $710
2012 $886 $758 $630 $593
2011 $887 $759 $686 $643
2010 $901 $770 $654 $625
2009 $905 $774 $692 $609
2008 $920 $775 $663 $592
2007 $874 $751 $653 $560
2006 $883 $759 $681 $591
2005 $858 $748 $645 $554

Goldsboro 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 Goldsboro North Carolina was 5.92% according to Census ACS data.

Rental Vacancy Rate in Goldsboro North Carolina

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
North Carolina 7.02% -0.27% -0.98%
Goldsboro, NC 5.92% +1.09% +0.41%

Trends in Goldsboro, NC Rental Vacancy Rate

The rental vacancy rate in Goldsboro peaked in 2006 at 15.74%. Since then it has fallen by 9.82% to 5.92%. Data records for this series originated in 2005. From a 2014 post peak low of 4.83%, the rental vacancy rate has increased by 1.09%.

Rental Vacancy Rate: Goldsboro NC, North Carolina, US

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Goldsboro

Date US North Carolina Goldsboro, NC
2015 5.85% 7.02% 5.92%
2014 6.32% 7.29% 4.83%
2013 6.49% 7.46% 6.01%
2012 6.77% 8.00% 5.51%
2011 7.40% 9.31%
2010 8.17% 9.97% 6.68%
2009 8.43% 10.10% 5.70%
2008 7.86% 9.58%
2007 7.87% 9.26% 10.52%
2006 7.70% 9.98% 15.74%
2005 7.74% 9.99% 9.41%

Rent as a Fraction of Income

Using median household income data for Goldsboro, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Goldsboro, median monthly gross rent as a fraction of median household income was 21.35% in 2015 according to the ACS.

Goldsboro 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%
Goldsboro, NC 21.35% -2.11% +1.47%

Trends in Goldsboro, NC Rent as a Fraction of Income

The fraction of median Goldsboro household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 23.46%. Since then it has fallen by 2.11% to 21.35%.

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

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

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

Date US North Carolina Goldsboro, NC
2015 20.63% 20.75% 21.35%
2014 20.89% 20.70% 23.46%
2013 20.78% 20.34% 21.42%
2012 20.65% 20.09% 19.88%
2011 20.70% 20.36% 20.69%
2010 20.50% 20.25% 18.27%
2009 20.12% 19.78% 18.87%
2008 19.00% 17.89% 18.10%
2007 18.66% 18.21% 17.65%
2006 18.90% 18.47% 18.49%
2005 18.89% 18.71% 18.27%

Renter Fraction in Goldsboro North Carolina

You can calculate the renter fraction in Goldsboro 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 Goldsboro as a fraction of total Goldsboro households. In 2015 38.47% of households were renters according to Census ACS data.

Goldsboro 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%
Goldsboro, NC 38.47% -3.60% -2.24%

Trends in the Goldsboro, NC Renter Fraction

The Goldsboro household renter fraction peaked in in 2013 at 43.70% and is now 5.23% below that level. The origin year for the series is 2005.

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

Fraction of renters in Goldsboro

History of Goldsboro Renter Fraction

Date US North Carolina Goldsboro, NC
2015 36.97% 36.13% 38.47%
2014 36.90% 35.75% 42.07%
2013 36.50% 35.74% 43.70%
2012 36.09% 34.56% 40.71%
2011 35.42% 33.49% 38.77%
2010 34.65% 32.83% 36.98%
2009 34.13% 32.81% 40.44%
2008 33.36% 31.82% 36.85%
2007 32.80% 31.70% 34.03%
2006 32.73% 31.94% 33.64%
2005 33.10% 31.81% 35.53%

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.