Department of Numbers

Carteret County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Carteret County NC was $883 in 2017 according to the Census ACS survey.1 Average gross rent in Carteret County was $834 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 Carteret County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Carteret 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%
Carteret County NC Median Gross Rent $883 +1.49% +1.96%

Carteret County NC Real Gross Rent Trends

At $883, real median gross rent in Carteret County was at its highest level in 2017 since the series began in 2010. Average gross rent for Carteret County peaked in real terms in 2014 at $868 and is now $34 (3.92%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Carteret County

Date US
Median
North Carolina
Median
Carteret County NC
Median
Carteret County NC
Average
2017 $1,012 $861 $883 $834
2016 $996 $852 $870 $782
2015 $987 $851 $877 $832
2014 $956 $822 $866 $868
2013 $924 $795 $792 $812
2012 $912 $780 $814 $853
2011 $912 $780 $740 $756
2010 $927 $792 $715 $756
2009 $931 $796
2008 $947 $797
2007 $899 $773
2006 $909 $781

Carteret 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 Carteret County North Carolina was 3.37% according to Census ACS data.

Rental Vacancy Rate in Carteret 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%
Carteret County NC 3.37% -10.67% -12.87%

Trends in Carteret County NC Rental Vacancy Rate

The rental vacancy rate in Carteret County peaked in 2010 at 21.59%. Since then it has fallen by 18.22% to 3.37%. Data records for this series originated in 2010.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Carteret County

Date US North Carolina Carteret County NC
2017 6.18% 6.77% 3.37%
2016 5.89% 6.99% 14.04%
2015 5.85% 7.02% 11.28%
2014 6.32% 7.29% 16.24%
2013 6.49% 7.46% 12.87%
2012 6.77% 8.00% 16.97%
2011 7.40% 9.31% 14.18%
2010 8.17% 9.97% 21.59%
2009 8.43% 10.10%
2008 7.86% 9.58%
2007 7.87% 9.26%
2006 7.70% 9.98%

Rent as a Fraction of Income

Using median household income data for Carteret County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Carteret County, median monthly gross rent as a fraction of median household income was 20.07% in 2017 according to the ACS.

Carteret 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%
Carteret County NC 20.07% -0.02% -0.70%

Trends in Carteret County NC Rent as a Fraction of Income

The fraction of median Carteret County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2010 series origin) at 20.77%. Since then it has fallen by 0.70% to 20.07%.

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

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

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

Date US North Carolina Carteret County NC
2017 20.13% 19.59% 20.07%
2016 20.43% 19.90% 20.08%
2015 20.63% 20.75% 20.03%
2014 20.89% 20.70% 20.77%
2013 20.78% 20.34% 20.56%
2012 20.65% 20.09% 18.99%
2011 20.70% 20.36% 19.07%
2010 20.50% 20.25% 19.50%
2009 20.12% 19.78%
2008 19.00% 17.89%
2007 18.66% 18.21%
2006 18.90% 18.47%

Renter Fraction in Carteret County North Carolina

You can calculate the renter fraction in Carteret 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 Carteret County as a fraction of total Carteret County households. In 2017 30.17% of households were renters according to Census ACS data.

Carteret 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%
Carteret County NC 30.17% -1.73% +0.60%

Trends in the Carteret County NC Renter Fraction

The Carteret County household renter fraction peaked in in 2011 at 34.46% and is now 4.29% below that level. From a recent low of 25.29% in 2013, the household based renter fraction has now grown by 4.88%. The origin year for the series is 2010.

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

Fraction of renters in Carteret County

History of Carteret County Renter Fraction

Date US North Carolina Carteret County NC
2017 36.13% 34.60% 30.17%
2016 36.88% 35.78% 31.90%
2015 36.97% 36.13% 27.67%
2014 36.90% 35.75% 29.57%
2013 36.50% 35.74% 25.29%
2012 36.09% 34.56% 28.27%
2011 35.42% 33.49% 34.46%
2010 34.65% 32.83% 31.24%
2009 34.13% 32.81%
2008 33.36% 31.82%
2007 32.80% 31.70%
2006 32.73% 31.94%

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.