Department of Numbers

Caldwell County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Caldwell County NC was $614 in 2017 according to the Census ACS survey.1 Average gross rent in Caldwell County was $587 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 Caldwell County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Caldwell 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%
Caldwell County NC Median Gross Rent $614 -0.32% -5.39%

Caldwell County NC Real Gross Rent Trends

Median gross rent for Caldwell County peaked in real terms in 2010 at $663 and is now $49 (7.39%) lower. Average gross rent for Caldwell County peaked in real terms in 2016 at $609 and is now $22 (3.61%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Caldwell County

Date US
Median
North Carolina
Median
Caldwell County NC
Median
Caldwell County NC
Average
2017 $1,012 $861 $614 $587
2016 $996 $852 $616 $609
2015 $987 $851 $608 $554
2014 $956 $822 $649 $567
2013 $924 $795 $614 $544
2012 $912 $780 $592 $543
2011 $912 $780 $601 $525
2010 $927 $792 $663 $564
2009 $931 $796 $652 $516
2008 $947 $797 $638 $559
2007 $899 $773 $553 $479
2006 $909 $781 $662 $576

Caldwell County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Caldwell County North Carolina was 5.26% according to Census ACS data.

Rental Vacancy Rate in Caldwell 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%
Caldwell County NC

Trends in Caldwell County NC Rental Vacancy Rate

The rental vacancy rate in Caldwell County peaked in 2010 at 24.40%. Since then it has fallen by 19.14% to 5.26%. Data records for this series originated in 2005. From a 2015 post peak low of 4.15%, the rental vacancy rate has increased by 1.11%.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Caldwell County

Date US North Carolina Caldwell County NC
2017 6.18% 6.77%
2016 5.89% 6.99% 5.26%
2015 5.85% 7.02% 4.15%
2014 6.32% 7.29%
2013 6.49% 7.46%
2012 6.77% 8.00%
2011 7.40% 9.31% 10.30%
2010 8.17% 9.97% 24.40%
2009 8.43% 10.10% 18.30%
2008 7.86% 9.58% 14.15%
2007 7.87% 9.26% 13.63%
2006 7.70% 9.98% 15.58%

Rent as a Fraction of Income

Using median household income data for Caldwell County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Caldwell County, median monthly gross rent as a fraction of median household income was 16.36% in 2017 according to the ACS.

Caldwell 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%
Caldwell County NC 16.36% -3.70% -3.73%

Trends in Caldwell County NC Rent as a Fraction of Income

The fraction of median Caldwell County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 22.27%. Since then it has fallen by 5.91% to 16.36%.

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

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

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

Date US North Carolina Caldwell County NC
2017 20.13% 19.59% 16.36%
2016 20.43% 19.90% 20.07%
2015 20.63% 20.75% 18.32%
2014 20.89% 20.70% 20.09%
2013 20.78% 20.34% 22.27%
2012 20.65% 20.09% 21.94%
2011 20.70% 20.36% 20.75%
2010 20.50% 20.25% 20.37%
2009 20.12% 19.78% 21.92%
2008 19.00% 17.89% 15.34%
2007 18.66% 18.21% 15.33%
2006 18.90% 18.47% 19.59%

Renter Fraction in Caldwell County North Carolina

You can calculate the renter fraction in Caldwell 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 Caldwell County as a fraction of total Caldwell County households. In 2017 28.69% of households were renters according to Census ACS data.

Caldwell 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%
Caldwell County NC 28.69% -5.81% -1.24%

Trends in the Caldwell County NC Renter Fraction

The Caldwell County household renter fraction peaked in in 2016 at 34.50% and is now 5.81% below that level. The origin year for the series is 2005.

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

Fraction of renters in Caldwell County

History of Caldwell County Renter Fraction

Date US North Carolina Caldwell County NC
2017 36.13% 34.60% 28.69%
2016 36.88% 35.78% 34.50%
2015 36.97% 36.13% 29.55%
2014 36.90% 35.75% 29.93%
2013 36.50% 35.74% 27.53%
2012 36.09% 34.56% 32.33%
2011 35.42% 33.49% 27.08%
2010 34.65% 32.83% 26.09%
2009 34.13% 32.81% 28.88%
2008 33.36% 31.82% 26.57%
2007 32.80% 31.70% 20.36%
2006 32.73% 31.94% 24.82%

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.