Alamance County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Alamance County NC was $796 in 2019 according to the Census ACS survey.1 Average gross rent in Alamance County was $793 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 Alamance County median and average rent data will be released in September of 2021.
Data is also available below for Alamance County rental vacancy rates, Alamance County rent as a percent of median income and the fraction of renters in Alamance County.
Real Gross Rent in Alamance County 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% |
| Alamance County NC Median Gross Rent | $796 | -4.56% | +4.33% |
Alamance County NC Real Gross Rent Trends
Median gross rent for Alamance County peaked in real terms in 2018 at $834 and is now $38 (4.56%) lower. Average gross rent for Alamance County peaked in real terms in 2007 at $818 and is now $25 (3.06%) lower. From a recent low of 686.0 in 2012, real average gross rent has now increased by $107 (15.60%).
Real Gross Rent: Alamance County NC Median, Alamance County NC Average, North Carolina Median, US Median
Real Gross Rent History for Alamance County
| Date | US Median |
North Carolina Median |
Alamance County NC Median |
Alamance County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $796 | $793 |
| 2018 | $1,077 | $916 | $834 | $800 |
| 2017 | $1,043 | $888 | $782 | $767 |
| 2016 | $1,027 | $879 | $763 | $792 |
| 2015 | $1,017 | $877 | $788 | $804 |
| 2014 | $986 | $848 | $813 | $803 |
| 2013 | $953 | $819 | $775 | $772 |
| 2012 | $940 | $804 | $739 | $686 |
| 2011 | $941 | $805 | $734 | $747 |
| 2010 | $955 | $817 | $741 | $753 |
| 2009 | $960 | $821 | $786 | $781 |
| 2007 | $927 | $797 | $807 | $818 |
| 2005 | $910 | $794 | $801 | $778 |
Alamance County 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 Alamance County North Carolina was 7.76% according to Census ACS data.
Rental Vacancy Rate in Alamance County North Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| North Carolina | 6.60% | -0.43% | -0.39% |
| Alamance County NC | 7.76% | +1.92% | — |
Trends in Alamance County NC Rental Vacancy Rate
The rental vacancy rate in Alamance County peaked in 2009 at 16.17%. Since then it has fallen by 8.41% to 7.76%. Data records for this series originated in 2005.
Rental Vacancy Rate: Alamance County NC, North Carolina, US
Historical Rental Vacancy Rate data for Alamance County
| Date | US | North Carolina | Alamance County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 7.76% |
| 2018 | 6.15% | 7.03% | 5.84% |
| 2017 | 6.18% | 6.77% | 5.98% |
| 2016 | 5.89% | 6.99% | — |
| 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% |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | 9.70% |
Rent as a Fraction of Income
Using median household income data for Alamance County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Alamance County, median monthly gross rent as a fraction of median household income was 16.33% in 2019 according to the ACS.
Alamance County 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% |
| Alamance County NC | 16.33% | -3.33% | -3.07% |
Trends in Alamance County NC Rent as a Fraction of Income
The fraction of median Alamance County 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 7.02% to 16.33%.
Fraction of Income towards Rent: Alamance County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Alamance County North Carolina
| Date | US | North Carolina | Alamance County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 16.33% |
| 2018 | 20.50% | 20.05% | 19.66% |
| 2017 | 20.13% | 19.59% | 20.15% |
| 2016 | 20.43% | 19.90% | 19.40% |
| 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% |
| 2007 | 18.66% | 18.21% | 19.86% |
| 2005 | 18.89% | 18.71% | 19.06% |
Renter Fraction in Alamance County North Carolina
You can calculate the renter fraction in Alamance County 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 Alamance County as a fraction of total Alamance County households. In 2019 31.48% of households were renters according to Census ACS data.
Alamance County 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% |
| Alamance County NC | 31.48% | -1.87% | -4.80% |
Trends in the Alamance County NC Renter Fraction
The Alamance County household renter fraction peaked in in 2015 at 37.37% and is now 5.89% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Alamance County NC, North Carolina, US
History of Alamance County Renter Fraction
| Date | US | North Carolina | Alamance County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 31.48% |
| 2018 | 36.05% | 34.86% | 33.35% |
| 2017 | 36.13% | 34.60% | 36.25% |
| 2016 | 36.88% | 35.78% | 36.28% |
| 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% |
| 2007 | 32.80% | 31.70% | 31.47% |
| 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. ↩
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