Department of Numbers

Pitt County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Pitt County NC was $787 in 2017 according to the Census ACS survey.1 Average gross rent in Pitt County was $825 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 Pitt County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Pitt 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%
Pitt County NC Median Gross Rent $787 +8.10% -0.38%

Pitt County NC Real Gross Rent Trends

Median gross rent for Pitt County peaked in real terms in 2014 at $790 and is now $3 (0.38%) lower. Average gross rent for Pitt County peaked in real terms in 2014 at $853 and is now $28 (3.28%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Pitt County

Date US
Median
North Carolina
Median
Pitt County NC
Median
Pitt County NC
Average
2017 $1,012 $861 $787 $825
2016 $996 $852 $728 $773
2015 $987 $851 $781 $833
2014 $956 $822 $790 $853
2013 $924 $795 $712 $768
2012 $912 $780 $713 $734
2011 $912 $780 $729 $763
2010 $927 $792 $745 $805
2009 $931 $796 $730 $754
2008 $947 $797 $719 $750
2007 $899 $773 $761 $754
2006 $909 $781 $718 $725

Pitt 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 Pitt County North Carolina was 4.28% according to Census ACS data.

Rental Vacancy Rate in Pitt 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%
Pitt County NC 4.28% -4.31% -3.68%

Trends in Pitt County NC Rental Vacancy Rate

The rental vacancy rate in Pitt County peaked in 2005 at 13.89%. Since then it has fallen by 9.61% to 4.28%. Data records for this series originated in 2005. From a 2012 post peak low of 2.29%, the rental vacancy rate has increased by 1.99%.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Pitt County

Date US North Carolina Pitt County NC
2017 6.18% 6.77% 4.28%
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% 2.29%
2011 7.40% 9.31% 12.10%
2010 8.17% 9.97% 13.22%
2009 8.43% 10.10% 9.64%
2008 7.86% 9.58%
2007 7.87% 9.26% 5.99%
2006 7.70% 9.98% 11.50%

Rent as a Fraction of Income

Using median household income data for Pitt County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Pitt County, median monthly gross rent as a fraction of median household income was 20.60% in 2017 according to the ACS.

Pitt 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%
Pitt County NC 20.60% +2.12% -1.65%

Trends in Pitt County NC Rent as a Fraction of Income

The fraction of median Pitt County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 22.30%. Since then it has fallen by 1.71% to 20.60%. From a 2016 low of 18.47%, the fraction of income going to rent has increased by 2.12%.

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

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

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

Date US North Carolina Pitt County NC
2017 20.13% 19.59% 20.60%
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% 21.49%
2011 20.70% 20.36% 21.39%
2010 20.50% 20.25% 21.02%
2009 20.12% 19.78% 22.30%
2008 19.00% 17.89% 18.77%
2007 18.66% 18.21% 21.54%
2006 18.90% 18.47% 19.67%

Renter Fraction in Pitt County North Carolina

You can calculate the renter fraction in Pitt 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 Pitt County as a fraction of total Pitt County households. In 2017 46.36% of households were renters according to Census ACS data.

Pitt 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%
Pitt County NC 46.36% -0.87% -3.12%

Trends in the Pitt County NC Renter Fraction

The Pitt County household renter fraction peaked in in 2014 at 49.48% and is now 3.12% below that level. The origin year for the series is 2005.

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

Fraction of renters in Pitt County

History of Pitt County Renter Fraction

Date US North Carolina Pitt County NC
2017 36.13% 34.60% 46.36%
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% 48.61%
2011 35.42% 33.49% 45.41%
2010 34.65% 32.83% 42.40%
2009 34.13% 32.81% 48.13%
2008 33.36% 31.82% 43.25%
2007 32.80% 31.70% 45.49%
2006 32.73% 31.94% 43.36%

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.