Department of Numbers

Burke County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Burke County NC was $658 in 2017 according to the Census ACS survey.1 Average gross rent in Burke County was $627 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Burke County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Burke County North Carolina (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
North Carolina Median Gross Rent $861 +1.06% +4.74%
Burke County NC Median Gross Rent $658 +2.17% +1.86%

Burke County NC Real Gross Rent Trends

Median gross rent for Burke County peaked in real terms in 2010 at $673 and is now $15 (2.23%) lower. From a recent low of 592.0 in 2012, real median gross rent has now increased by $66 (11.15%). At $627, real average gross rent in Burke County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Burke County NC Median, Burke County NC Average, North Carolina Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Burke County

Date US
Median
North Carolina
Median
Burke County NC
Median
Burke County NC
Average
2017 $1,012 $861 $658 $627
2016 $996 $852 $644 $574
2015 $987 $851 $602 $558
2014 $956 $822 $646 $555
2013 $924 $795 $618 $511
2012 $912 $780 $592 $493
2011 $912 $780 $627 $589
2010 $927 $792 $673 $597
2009 $931 $796 $634 $544
2008 $947 $797 $615 $561
2007 $899 $773 $620 $525
2006 $909 $781 $629 $554

Burke County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Burke County North Carolina was 7.86% according to Census ACS data.

Rental Vacancy Rate in Burke County North Carolina

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
North Carolina 6.77% -0.22% -0.52%
Burke County NC 7.86%

Trends in Burke County NC Rental Vacancy Rate

The rental vacancy rate in Burke County peaked in 2009 at 12.68%. Since then it has fallen by 4.82% to 7.86%. Data records for this series originated in 2005. From a 2015 post peak low of 7.84%, the rental vacancy rate has increased by 0.02%.

Rental Vacancy Rate: Burke County NC, North Carolina, US

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Burke County

Date US North Carolina Burke County NC
2017 6.18% 6.77% 7.86%
2016 5.89% 6.99%
2015 5.85% 7.02% 7.84%
2014 6.32% 7.29%
2013 6.49% 7.46%
2012 6.77% 8.00% 9.95%
2011 7.40% 9.31%
2010 8.17% 9.97% 12.09%
2009 8.43% 10.10% 12.68%
2008 7.86% 9.58%
2007 7.87% 9.26%
2006 7.70% 9.98% 8.67%

Rent as a Fraction of Income

Using median household income data for Burke County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Burke County, median monthly gross rent as a fraction of median household income was 19.61% in 2017 according to the ACS.

Burke County North Carolina Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
North Carolina 19.59% -0.32% -1.11%
Burke County NC 19.61% +0.75% -0.81%

Trends in Burke County NC Rent as a Fraction of Income

The fraction of median Burke County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 21.75%. Since then it has fallen by 2.14% to 19.61%. From a 2015 low of 16.34%, the fraction of income going to rent has increased by 3.27%.

Fraction of Income towards Rent: Burke County NC, North Carolina, US

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

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

Date US North Carolina Burke County NC
2017 20.13% 19.59% 19.61%
2016 20.43% 19.90% 18.86%
2015 20.63% 20.75% 16.34%
2014 20.89% 20.70% 20.42%
2013 20.78% 20.34% 21.75%
2012 20.65% 20.09% 18.47%
2011 20.70% 20.36% 19.58%
2010 20.50% 20.25% 19.54%
2009 20.12% 19.78% 19.68%
2008 19.00% 17.89% 18.07%
2007 18.66% 18.21% 19.40%
2006 18.90% 18.47% 16.82%

Renter Fraction in Burke County North Carolina

You can calculate the renter fraction in Burke 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 Burke County as a fraction of total Burke County households. In 2017 25.93% of households were renters according to Census ACS data.

Burke County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
North Carolina 34.60% -1.18% -1.15%
Burke County NC 25.93% -5.84% -5.08%

Trends in the Burke County NC Renter Fraction

The Burke County household renter fraction peaked in in 2016 at 31.77% and is now 5.84% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Burke County NC, North Carolina, US

Fraction of renters in Burke County

History of Burke County Renter Fraction

Date US North Carolina Burke County NC
2017 36.13% 34.60% 25.93%
2016 36.88% 35.78% 31.77%
2015 36.97% 36.13% 27.00%
2014 36.90% 35.75% 31.01%
2013 36.50% 35.74% 30.56%
2012 36.09% 34.56% 28.96%
2011 35.42% 33.49% 28.03%
2010 34.65% 32.83% 26.14%
2009 34.13% 32.81% 28.34%
2008 33.36% 31.82% 25.69%
2007 32.80% 31.70% 26.87%
2006 32.73% 31.94% 25.20%

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.