Department of Numbers

Craven County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Craven County NC was $829 in 2017 according to the Census ACS survey.1 Average gross rent in Craven County was $822 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 Craven County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Craven 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%
Craven County NC Median Gross Rent $829 +0.36% -3.49%

Craven County NC Real Gross Rent Trends

Median gross rent for Craven County peaked in real terms in 2012 at $936 and is now $107 (11.43%) lower. Average gross rent for Craven County peaked in real terms in 2014 at $881 and is now $59 (6.70%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Craven County

Date US
Median
North Carolina
Median
Craven County NC
Median
Craven County NC
Average
2017 $1,012 $861 $829 $822
2016 $996 $852 $826 $806
2015 $987 $851 $912 $878
2014 $956 $822 $859 $881
2013 $924 $795 $906 $873
2012 $912 $780 $936 $878
2011 $912 $780 $931 $872
2010 $927 $792 $832 $826
2009 $931 $796 $820 $809
2008 $947 $797 $843 $808
2007 $899 $773 $716 $657
2006 $909 $781 $803 $782

Craven 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 Craven County North Carolina was 8.00% according to Census ACS data.

Rental Vacancy Rate in Craven 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%
Craven County NC 8.00% +1.61% +0.50%

Trends in Craven County NC Rental Vacancy Rate

The rental vacancy rate in Craven County peaked in 2011 at 12.58%. Since then it has fallen by 4.58% to 8.00%. Data records for this series originated in 2005.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Craven County

Date US North Carolina Craven County NC
2017 6.18% 6.77% 8.00%
2016 5.89% 6.99% 6.39%
2015 5.85% 7.02% 6.53%
2014 6.32% 7.29% 7.50%
2013 6.49% 7.46% 7.83%
2012 6.77% 8.00% 5.60%
2011 7.40% 9.31% 12.58%
2010 8.17% 9.97%
2009 8.43% 10.10% 5.14%
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 Craven County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Craven County, median monthly gross rent as a fraction of median household income was 19.21% in 2017 according to the ACS.

Craven 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%
Craven County NC 19.21% -0.33% -4.00%

Trends in Craven County NC Rent as a Fraction of Income

The fraction of median Craven County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 23.67%. Since then it has fallen by 4.46% to 19.21%.

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

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

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

Date US North Carolina Craven County NC
2017 20.13% 19.59% 19.21%
2016 20.43% 19.90% 19.54%
2015 20.63% 20.75% 22.08%
2014 20.89% 20.70% 23.21%
2013 20.78% 20.34% 23.67%
2012 20.65% 20.09% 22.49%
2011 20.70% 20.36% 20.80%
2010 20.50% 20.25% 22.92%
2009 20.12% 19.78% 23.06%
2008 19.00% 17.89% 19.04%
2007 18.66% 18.21% 16.55%
2006 18.90% 18.47% 19.11%

Renter Fraction in Craven County North Carolina

You can calculate the renter fraction in Craven 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 Craven County as a fraction of total Craven County households. In 2017 38.01% of households were renters according to Census ACS data.

Craven 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%
Craven County NC 38.01% +3.43% -0.80%

Trends in the Craven County NC Renter Fraction

The Craven County household renter fraction peaked in in 2014 at 38.81% and is now 0.80% below that level. The origin year for the series is 2005.

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

Fraction of renters in Craven County

History of Craven County Renter Fraction

Date US North Carolina Craven County NC
2017 36.13% 34.60% 38.01%
2016 36.88% 35.78% 34.58%
2015 36.97% 36.13% 38.77%
2014 36.90% 35.75% 38.81%
2013 36.50% 35.74% 36.77%
2012 36.09% 34.56% 35.93%
2011 35.42% 33.49% 35.48%
2010 34.65% 32.83% 36.65%
2009 34.13% 32.81% 38.77%
2008 33.36% 31.82% 35.32%
2007 32.80% 31.70% 34.37%
2006 32.73% 31.94% 34.69%

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.