Department of Numbers

Greenville North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Greenville, NC (the Greenville metro area) was $717 in 2016 according to the Census ACS survey.1 Average gross rent in Greenville was $761 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Greenville median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Greenville North Carolina (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
North Carolina Median Gross Rent $839 +0.12% +7.29%
Greenville, NC Median Gross Rent $717 -6.76% +2.28%

Greenville, NC Real Gross Rent Trends

Median gross rent for Greenville peaked in real terms in 2014 at $778 and is now $61 (7.84%) lower. Average gross rent for Greenville peaked in real terms in 2014 at $840 and is now $79 (9.40%) lower.

Real Gross Rent in Greenville: Greenville NC Median, Greenville NC Average, North Carolina Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Greenville

Date US
Median
North Carolina
Median
Greenville, NC
Median
Greenville, NC
Average
2016 $981 $839 $717 $761
2015 $972 $838 $769 $821
2014 $942 $810 $778 $840
2013 $910 $782 $701 $756
2012 $898 $768 $697 $711
2011 $898 $768 $713 $726
2010 $912 $780 $726 $777
2009 $916 $784 $713 $734
2008 $932 $785 $706 $726
2007 $885 $761 $739 $732
2006 $895 $769 $699 $695
2005 $869 $758 $676 $645

Greenville 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 Greenville North Carolina was 8.59% according to Census ACS data.

Rental Vacancy Rate in Greenville North Carolina

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
North Carolina 6.99% -0.03% -0.47%
Greenville, NC 8.59% +4.60%

Trends in Greenville, NC Rental Vacancy Rate

The rental vacancy rate in Greenville peaked in 2005 at 13.54%. Since then it has fallen by 4.95% to 8.59%. Data records for this series originated in 2005. From a 2012 post peak low of 2.71%, the rental vacancy rate has increased by 5.88%.

Rental Vacancy Rate: Greenville NC, North Carolina, US

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Greenville

Date US North Carolina Greenville, NC
2016 5.89% 6.99% 8.59%
2015 5.85% 7.02% 3.99%
2014 6.32% 7.29% 7.96%
2013 6.49% 7.46%
2012 6.77% 8.00% 2.71%
2011 7.40% 9.31% 11.20%
2010 8.17% 9.97% 12.72%
2009 8.43% 10.10% 9.06%
2008 7.86% 9.58%
2007 7.87% 9.26% 6.35%
2006 7.70% 9.98% 11.76%
2005 7.74% 9.99% 13.54%

Rent as a Fraction of Income

Using median household income data for Greenville, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Greenville, median monthly gross rent as a fraction of median household income was 18.47% in 2016 according to the ACS.

Greenville North Carolina Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
North Carolina 19.90% -0.84% -0.43%
Greenville, NC 18.47% -3.50% -2.11%

Trends in Greenville, NC Rent as a Fraction of Income

The fraction of median Greenville household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 22.25%. Since then it has fallen by 3.78% to 18.47%.

Fraction of Income towards Rent: Greenville NC, North Carolina, US

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

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

Date US North Carolina Greenville, NC
2016 20.43% 19.90% 18.47%
2015 20.63% 20.75% 21.97%
2014 20.89% 20.70% 22.25%
2013 20.78% 20.34% 20.58%
2012 20.65% 20.09% 21.80%
2011 20.70% 20.36% 21.64%
2010 20.50% 20.25% 20.57%
2009 20.12% 19.78% 21.76%
2008 19.00% 17.89% 18.70%
2007 18.66% 18.21% 21.80%
2006 18.90% 18.47% 19.43%
2005 18.89% 18.71% 21.46%

Renter Fraction in Greenville North Carolina

You can calculate the renter fraction in Greenville 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 Greenville as a fraction of total Greenville households. In 2016 47.23% of households were renters according to Census ACS data.

Greenville Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
North Carolina 35.78% -0.35% +0.04%
Greenville, NC 47.23% -0.46% +0.05%

Trends in the Greenville, NC Renter Fraction

The Greenville household renter fraction peaked in in 2014 at 49.48% and is now 2.25% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Greenville NC, North Carolina, US

Fraction of renters in Greenville

History of Greenville Renter Fraction

Date US North Carolina Greenville, NC
2016 36.88% 35.78% 47.23%
2015 36.97% 36.13% 47.69%
2014 36.90% 35.75% 49.48%
2013 36.50% 35.74% 47.18%
2012 36.09% 34.56% 46.70%
2011 35.42% 33.49% 44.64%
2010 34.65% 32.83% 41.50%
2009 34.13% 32.81% 46.36%
2008 33.36% 31.82% 41.66%
2007 32.80% 31.70% 45.05%
2006 32.73% 31.94% 42.37%
2005 33.10% 31.81% 41.22%

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.