Department of Numbers

Cleveland County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Cleveland County NC was $647 in 2017 according to the Census ACS survey.1 Average gross rent in Cleveland County was $660 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 Cleveland County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Cleveland 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%
Cleveland County NC Median Gross Rent $647 -1.37% -5.41%

Cleveland County NC Real Gross Rent Trends

Median gross rent for Cleveland County peaked in real terms in 2009 at $690 and is now $43 (6.23%) lower. From a recent low of 608.0 in 2013, real median gross rent has now increased by $39 (6.41%). Average gross rent for Cleveland County peaked in real terms in 2014 at $689 and is now $29 (4.21%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cleveland County

Date US
Median
North Carolina
Median
Cleveland County NC
Median
Cleveland County NC
Average
2017 $1,012 $861 $647 $660
2016 $996 $852 $656 $595
2015 $987 $851 $690 $599
2014 $956 $822 $684 $689
2013 $924 $795 $608 $593
2012 $912 $780 $645 $549
2011 $912 $780 $669 $639
2010 $927 $792 $619 $542
2009 $931 $796 $690 $598
2008 $947 $797 $678 $633
2007 $899 $773 $632 $614
2006 $909 $781 $636 $641

Cleveland 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 Cleveland County North Carolina was 10.03% according to Census ACS data.

Rental Vacancy Rate in Cleveland 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%
Cleveland County NC

Trends in Cleveland County NC Rental Vacancy Rate

The rental vacancy rate in Cleveland County peaked in 2006 at 16.51%. Since then it has fallen by 6.48% to 10.03%. Data records for this series originated in 2005. From a 2015 post peak low of 2.90%, the rental vacancy rate has increased by 7.13%.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Cleveland County

Date US North Carolina Cleveland County NC
2017 6.18% 6.77%
2016 5.89% 6.99% 10.03%
2015 5.85% 7.02% 2.90%
2014 6.32% 7.29% 15.46%
2013 6.49% 7.46% 7.25%
2012 6.77% 8.00%
2011 7.40% 9.31% 14.02%
2010 8.17% 9.97% 7.26%
2009 8.43% 10.10%
2008 7.86% 9.58%
2007 7.87% 9.26% 9.62%
2006 7.70% 9.98% 16.51%

Rent as a Fraction of Income

Using median household income data for Cleveland County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cleveland County, median monthly gross rent as a fraction of median household income was 20.87% in 2017 according to the ACS.

Cleveland 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%
Cleveland County NC 20.87% -0.09% -0.55%

Trends in Cleveland County NC Rent as a Fraction of Income

The fraction of median Cleveland County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 21.45%. Since then it has fallen by 0.58% to 20.87%.

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

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

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

Date US North Carolina Cleveland County NC
2017 20.13% 19.59% 20.87%
2016 20.43% 19.90% 20.96%
2015 20.63% 20.75% 20.71%
2014 20.89% 20.70% 21.41%
2013 20.78% 20.34% 17.59%
2012 20.65% 20.09% 21.10%
2011 20.70% 20.36% 21.45%
2010 20.50% 20.25% 17.90%
2009 20.12% 19.78% 19.76%
2008 19.00% 17.89% 19.27%
2007 18.66% 18.21% 18.48%
2006 18.90% 18.47% 17.52%

Renter Fraction in Cleveland County North Carolina

You can calculate the renter fraction in Cleveland 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 Cleveland County as a fraction of total Cleveland County households. In 2017 32.60% of households were renters according to Census ACS data.

Cleveland 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%
Cleveland County NC 32.60% -3.36% +0.62%

Trends in the Cleveland County NC Renter Fraction

The Cleveland County household renter fraction peaked in in 2016 at 35.96% and is now 3.36% below that level. The origin year for the series is 2005.

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

Fraction of renters in Cleveland County

History of Cleveland County Renter Fraction

Date US North Carolina Cleveland County NC
2017 36.13% 34.60% 32.60%
2016 36.88% 35.78% 35.96%
2015 36.97% 36.13% 32.75%
2014 36.90% 35.75% 31.98%
2013 36.50% 35.74% 31.55%
2012 36.09% 34.56% 32.04%
2011 35.42% 33.49% 34.03%
2010 34.65% 32.83% 31.75%
2009 34.13% 32.81% 33.08%
2008 33.36% 31.82% 35.44%
2007 32.80% 31.70% 30.07%
2006 32.73% 31.94% 25.42%

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.