Iredell County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Iredell County NC was $897 in 2019 according to the Census ACS survey.1 Average gross rent in Iredell County was $918 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Iredell County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Iredell County North Carolina (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| North Carolina Median Gross Rent | $931 | +1.64% | +5.92% |
| Iredell County NC Median Gross Rent | $897 | +5.41% | +2.99% |
Iredell County NC Real Gross Rent Trends
At $897, real median gross rent in Iredell County was at its highest level in 2019 since the series began in 2005. At $918, real average gross rent in Iredell County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Iredell County NC Median, Iredell County NC Average, North Carolina Median, US Median
Real Gross Rent History for Iredell County
| Date | US Median |
North Carolina Median |
Iredell County NC Median |
Iredell County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $897 | $918 |
| 2018 | $1,077 | $916 | $851 | $879 |
| 2017 | $1,043 | $888 | $825 | $835 |
| 2016 | $1,027 | $879 | $871 | $866 |
| 2015 | $1,017 | $877 | $867 | $856 |
| 2014 | $986 | $848 | $888 | $834 |
| 2013 | $953 | $819 | $840 | $782 |
| 2012 | $940 | $804 | $776 | $729 |
| 2011 | $941 | $805 | $775 | $796 |
| 2010 | $955 | $817 | $877 | $807 |
| 2009 | $960 | $821 | $807 | $801 |
| 2007 | $927 | $797 | $737 | $775 |
| 2005 | $910 | $794 | $864 | $814 |
Iredell County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Iredell County North Carolina was 4.16% according to Census ACS data.
Rental Vacancy Rate in Iredell County North Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| North Carolina | 6.60% | -0.43% | -0.39% |
| Iredell County NC | 4.16% | -2.37% | +0.10% |
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 8.78% to 4.16%. Data records for this series originated in 2005. From a 2016 post peak low of 4.06%, the rental vacancy rate has increased by 0.10%.
Rental Vacancy Rate: Iredell County NC, North Carolina, US
Historical Rental Vacancy Rate data for Iredell County
| Date | US | North Carolina | Iredell County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 4.16% |
| 2018 | 6.15% | 7.03% | 6.53% |
| 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% | — |
| 2007 | 7.87% | 9.26% | 11.09% |
| 2005 | 7.74% | 9.99% | 12.94% |
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 15.68% in 2019 according to the ACS.
Iredell County North Carolina Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| North Carolina | 19.48% | -0.57% | -0.42% |
| Iredell County NC | 15.68% | -1.23% | -2.19% |
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 4.93% to 15.68%.
Fraction of Income towards Rent: Iredell County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Iredell County North Carolina
| Date | US | North Carolina | Iredell County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 15.68% |
| 2018 | 20.50% | 20.05% | 16.91% |
| 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% |
| 2007 | 18.66% | 18.21% | 14.90% |
| 2005 | 18.89% | 18.71% | 18.76% |
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 2019 25.91% of households were renters according to Census ACS data.
Iredell County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| North Carolina | 34.69% | -0.17% | -1.09% |
| Iredell County NC | 25.91% | -2.22% | -4.32% |
Trends in the Iredell County NC Renter Fraction
The Iredell County household renter fraction peaked in in 2016 at 30.23% and is now 4.32% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Iredell County NC, North Carolina, US
History of Iredell County Renter Fraction
| Date | US | North Carolina | Iredell County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 25.91% |
| 2018 | 36.05% | 34.86% | 28.13% |
| 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% |
| 2007 | 32.80% | 31.70% | 24.48% |
| 2005 | 33.10% | 31.81% | 28.13% |
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. ↩
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