Department of Numbers

Rocky Mount North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Rocky Mount, NC (the Rocky Mount metro area) was $688 in 2015 according to the Census ACS survey.1 Average gross rent in Rocky Mount was $619 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 Rocky Mount median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Rocky Mount 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%
Rocky Mount, NC Median Gross Rent $688 +1.78% +5.36%

Rocky Mount, NC Real Gross Rent Trends

Median gross rent for Rocky Mount peaked in real terms in 2011 at $745 and is now $57 (7.65%) lower. Average gross rent for Rocky Mount peaked in real terms in 2011 at $703 and is now $84 (11.95%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rocky Mount

Date US
Median
North Carolina
Median
Rocky Mount, NC
Median
Rocky Mount, NC
Average
2015 $959 $827 $688 $619
2014 $930 $799 $676 $611
2013 $898 $772 $653 $630
2012 $886 $758 $653 $631
2011 $887 $759 $745 $703
2010 $901 $770 $744 $676
2009 $905 $774 $714 $660
2008 $920 $775 $690 $671
2007 $874 $751 $673 $620
2006 $883 $759 $678 $598
2005 $858 $748 $633 $608

Rocky Mount 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 Rocky Mount North Carolina was 5.02% according to Census ACS data.

Rental Vacancy Rate in Rocky Mount North Carolina

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
North Carolina 7.02% -0.27% -0.98%
Rocky Mount, NC 5.02% -1.91% -10.48%

Trends in Rocky Mount, NC Rental Vacancy Rate

The rental vacancy rate in Rocky Mount peaked in 2012 at 15.50%. Since then it has fallen by 10.48% to 5.02%. Data records for this series originated in 2005.

Rental Vacancy Rate: Rocky Mount NC, North Carolina, US

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Rocky Mount

Date US North Carolina Rocky Mount, NC
2015 5.85% 7.02% 5.02%
2014 6.32% 7.29% 6.93%
2013 6.49% 7.46% 7.12%
2012 6.77% 8.00% 15.50%
2011 7.40% 9.31% 5.67%
2010 8.17% 9.97% 6.66%
2009 8.43% 10.10% 7.48%
2008 7.86% 9.58% 7.95%
2007 7.87% 9.26% 5.49%
2006 7.70% 9.98% 12.49%
2005 7.74% 9.99% 11.54%

Rent as a Fraction of Income

Using median household income data for Rocky Mount, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rocky Mount, median monthly gross rent as a fraction of median household income was 22.12% in 2015 according to the ACS.

Rocky Mount 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%
Rocky Mount, NC 22.12% +1.95% +1.19%

Trends in Rocky Mount, NC Rent as a Fraction of Income

The fraction of median Rocky Mount household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.25%. Since then it has fallen by 0.13% to 22.12%.

Fraction of Income towards Rent: Rocky Mount NC, North Carolina, US

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

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

Date US North Carolina Rocky Mount, NC
2015 20.63% 20.75% 22.12%
2014 20.89% 20.70% 20.16%
2013 20.78% 20.34% 21.37%
2012 20.65% 20.09% 20.93%
2011 20.70% 20.36% 22.09%
2010 20.50% 20.25% 22.25%
2009 20.12% 19.78% 21.91%
2008 19.00% 17.89% 18.92%
2007 18.66% 18.21% 17.78%
2006 18.90% 18.47% 19.57%
2005 18.89% 18.71% 19.03%

Renter Fraction in Rocky Mount North Carolina

You can calculate the renter fraction in Rocky Mount 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 Rocky Mount as a fraction of total Rocky Mount households. In 2015 39.34% of households were renters according to Census ACS data.

Rocky Mount 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%
Rocky Mount, NC 39.34% +2.63% +4.12%

Trends in the Rocky Mount, NC Renter Fraction

At 39.34%, the 2015 household based renter fraction in Rocky Mount was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Rocky Mount NC, North Carolina, US

Fraction of renters in Rocky Mount

History of Rocky Mount Renter Fraction

Date US North Carolina Rocky Mount, NC
2015 36.97% 36.13% 39.34%
2014 36.90% 35.75% 36.71%
2013 36.50% 35.74% 37.37%
2012 36.09% 34.56% 35.22%
2011 35.42% 33.49% 37.37%
2010 34.65% 32.83% 36.03%
2009 34.13% 32.81% 38.11%
2008 33.36% 31.82% 36.01%
2007 32.80% 31.70% 36.95%
2006 32.73% 31.94% 38.33%
2005 33.10% 31.81% 38.47%

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.