Department of Numbers

Cabarrus County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Cabarrus County NC was $876 in 2017 according to the Census ACS survey.1 Average gross rent in Cabarrus County was $908 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 Cabarrus County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Cabarrus 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%
Cabarrus County NC Median Gross Rent $876 -0.11% +4.41%

Cabarrus County NC Real Gross Rent Trends

Median gross rent for Cabarrus County peaked in real terms in 2015 at $882 and is now $6 (0.68%) lower. At $908, real average gross rent in Cabarrus County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cabarrus County

Date US
Median
North Carolina
Median
Cabarrus County NC
Median
Cabarrus County NC
Average
2017 $1,012 $861 $876 $908
2016 $996 $852 $877 $902
2015 $987 $851 $882 $870
2014 $956 $822 $839 $831
2013 $924 $795 $802 $750
2012 $912 $780 $800 $794
2011 $912 $780 $812 $823
2010 $927 $792 $803 $808
2009 $931 $796 $840 $873
2008 $947 $797 $829 $810
2007 $899 $773 $790 $760
2006 $909 $781 $798 $754

Cabarrus 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 Cabarrus County North Carolina was 3.25% according to Census ACS data.

Rental Vacancy Rate in Cabarrus 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%
Cabarrus County NC 3.25% -3.89% -3.87%

Trends in Cabarrus County NC Rental Vacancy Rate

The rental vacancy rate in Cabarrus County peaked in 2010 at 13.91%. Since then it has fallen by 10.66% to 3.25%. Data records for this series originated in 2005.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Cabarrus County

Date US North Carolina Cabarrus County NC
2017 6.18% 6.77% 3.25%
2016 5.89% 6.99% 7.14%
2015 5.85% 7.02% 5.52%
2014 6.32% 7.29% 7.12%
2013 6.49% 7.46% 9.48%
2012 6.77% 8.00% 8.93%
2011 7.40% 9.31% 10.43%
2010 8.17% 9.97% 13.91%
2009 8.43% 10.10% 8.00%
2008 7.86% 9.58% 10.33%
2007 7.87% 9.26% 1.49%
2006 7.70% 9.98% 8.57%

Rent as a Fraction of Income

Using median household income data for Cabarrus County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cabarrus County, median monthly gross rent as a fraction of median household income was 17.10% in 2017 according to the ACS.

Cabarrus 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%
Cabarrus County NC 17.10% +0.74% -0.99%

Trends in Cabarrus County NC Rent as a Fraction of Income

The fraction of median Cabarrus County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.11%. Since then it has fallen by 2.01% to 17.10%.

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

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

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

Date US North Carolina Cabarrus County NC
2017 20.13% 19.59% 17.10%
2016 20.43% 19.90% 16.36%
2015 20.63% 20.75% 18.09%
2014 20.89% 20.70% 18.08%
2013 20.78% 20.34% 17.35%
2012 20.65% 20.09% 16.66%
2011 20.70% 20.36% 19.11%
2010 20.50% 20.25% 18.27%
2009 20.12% 19.78% 17.59%
2008 19.00% 17.89% 15.26%
2007 18.66% 18.21% 16.38%
2006 18.90% 18.47% 16.22%

Renter Fraction in Cabarrus County North Carolina

You can calculate the renter fraction in Cabarrus 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 Cabarrus County as a fraction of total Cabarrus County households. In 2017 29.16% of households were renters according to Census ACS data.

Cabarrus 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%
Cabarrus County NC 29.16% -1.18% +0.69%

Trends in the Cabarrus County NC Renter Fraction

The Cabarrus County household renter fraction peaked in in 2015 at 31.30% and is now 2.14% below that level. The origin year for the series is 2005.

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

Fraction of renters in Cabarrus County

History of Cabarrus County Renter Fraction

Date US North Carolina Cabarrus County NC
2017 36.13% 34.60% 29.16%
2016 36.88% 35.78% 30.34%
2015 36.97% 36.13% 31.30%
2014 36.90% 35.75% 28.47%
2013 36.50% 35.74% 29.28%
2012 36.09% 34.56% 27.39%
2011 35.42% 33.49% 28.17%
2010 34.65% 32.83% 24.71%
2009 34.13% 32.81% 24.97%
2008 33.36% 31.82% 27.12%
2007 32.80% 31.70% 30.08%
2006 32.73% 31.94% 30.20%

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.