Department of Numbers

Iredell County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Iredell County NC was $800 in 2017 according to the Census ACS survey.1 Average gross rent in Iredell County was $810 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 Iredell County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Iredell 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%
Iredell County NC Median Gross Rent $800 -5.33% -7.08%

Iredell County NC Real Gross Rent Trends

Median gross rent for Iredell County peaked in real terms in 2014 at $861 and is now $61 (7.08%) lower. Average gross rent for Iredell County peaked in real terms in 2016 at $840 and is now $30 (3.57%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Iredell County

Date US
Median
North Carolina
Median
Iredell County NC
Median
Iredell County NC
Average
2017 $1,012 $861 $800 $810
2016 $996 $852 $845 $840
2015 $987 $851 $841 $830
2014 $956 $822 $861 $809
2013 $924 $795 $815 $759
2012 $912 $780 $752 $707
2011 $912 $780 $752 $772
2010 $927 $792 $851 $782
2009 $931 $796 $783 $777
2008 $947 $797 $842 $762
2007 $899 $773 $714 $752
2006 $909 $781 $740 $668

Iredell 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 Iredell County North Carolina was 6.59% according to Census ACS data.

Rental Vacancy Rate in Iredell 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%
Iredell County NC 6.59% +2.53% -2.45%

Trends in Iredell County NC Rental Vacancy Rate

The rental vacancy rate in Iredell County peaked in 2005 at 12.94%. Since then it has fallen by 6.35% to 6.59%. Data records for this series originated in 2005. From a 2016 post peak low of 4.06%, the rental vacancy rate has increased by 2.53%.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Iredell County

Date US North Carolina Iredell County NC
2017 6.18% 6.77% 6.59%
2016 5.89% 6.99% 4.06%
2015 5.85% 7.02% 6.44%
2014 6.32% 7.29% 9.04%
2013 6.49% 7.46% 10.69%
2012 6.77% 8.00% 10.92%
2011 7.40% 9.31% 10.25%
2010 8.17% 9.97% 7.55%
2009 8.43% 10.10%
2008 7.86% 9.58% 6.88%
2007 7.87% 9.26% 11.09%
2006 7.70% 9.98% 8.67%

Rent as a Fraction of Income

Using median household income data for Iredell County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Iredell County, median monthly gross rent as a fraction of median household income was 17.24% in 2017 according to the ACS.

Iredell 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%
Iredell County NC 17.24% -0.63% -1.32%

Trends in Iredell County NC Rent as a Fraction of Income

The fraction of median Iredell County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 20.61%. Since then it has fallen by 3.37% to 17.24%.

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

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

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

Date US North Carolina Iredell County NC
2017 20.13% 19.59% 17.24%
2016 20.43% 19.90% 17.86%
2015 20.63% 20.75% 17.52%
2014 20.89% 20.70% 18.56%
2013 20.78% 20.34% 19.35%
2012 20.65% 20.09% 17.77%
2011 20.70% 20.36% 17.15%
2010 20.50% 20.25% 20.61%
2009 20.12% 19.78% 17.95%
2008 19.00% 17.89% 17.47%
2007 18.66% 18.21% 14.90%
2006 18.90% 18.47% 17.21%

Renter Fraction in Iredell County North Carolina

You can calculate the renter fraction in Iredell 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 Iredell County as a fraction of total Iredell County households. In 2017 26.58% of households were renters according to Census ACS data.

Iredell 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%
Iredell County NC 26.58% -3.65% -3.61%

Trends in the Iredell County NC Renter Fraction

The Iredell County household renter fraction peaked in in 2016 at 30.23% and is now 3.65% below that level. The origin year for the series is 2005.

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

Fraction of renters in Iredell County

History of Iredell County Renter Fraction

Date US North Carolina Iredell County NC
2017 36.13% 34.60% 26.58%
2016 36.88% 35.78% 30.23%
2015 36.97% 36.13% 26.81%
2014 36.90% 35.75% 30.19%
2013 36.50% 35.74% 27.53%
2012 36.09% 34.56% 26.98%
2011 35.42% 33.49% 24.82%
2010 34.65% 32.83% 27.65%
2009 34.13% 32.81% 25.84%
2008 33.36% 31.82% 27.94%
2007 32.80% 31.70% 24.48%
2006 32.73% 31.94% 25.55%

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.