Department of Numbers

Randolph County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Randolph County NC was $688 in 2017 according to the Census ACS survey.1 Average gross rent in Randolph County was $643 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 Randolph County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Randolph 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%
Randolph County NC Median Gross Rent $688 +3.77% +8.52%

Randolph County NC Real Gross Rent Trends

Median gross rent for Randolph County peaked in real terms in 2011 at $709 and is now $21 (2.96%) lower. From a recent low of 595.0 in 2012, real median gross rent has now increased by $93 (15.63%). Average gross rent for Randolph County peaked in real terms in 2011 at $680 and is now $37 (5.44%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Randolph County

Date US
Median
North Carolina
Median
Randolph County NC
Median
Randolph County NC
Average
2017 $1,012 $861 $688 $643
2016 $996 $852 $663 $577
2015 $987 $851 $667 $651
2014 $956 $822 $634 $629
2013 $924 $795 $609 $603
2012 $912 $780 $595 $600
2011 $912 $780 $709 $680
2010 $927 $792 $682 $636
2009 $931 $796 $650 $587
2008 $947 $797 $662 $616
2007 $899 $773 $632 $544
2006 $909 $781 $680 $632

Randolph 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 Randolph County North Carolina was 1.86% according to Census ACS data.

Rental Vacancy Rate in Randolph 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%
Randolph County NC 1.86% -3.49%

Trends in Randolph County NC Rental Vacancy Rate

The rental vacancy rate in Randolph County peaked in 2006 at 10.79%. Since then it has fallen by 8.93% to 1.86%. Data records for this series originated in 2005.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Randolph County

Date US North Carolina Randolph County NC
2017 6.18% 6.77% 1.86%
2016 5.89% 6.99%
2015 5.85% 7.02% 5.19%
2014 6.32% 7.29% 5.35%
2013 6.49% 7.46% 8.66%
2012 6.77% 8.00% 8.88%
2011 7.40% 9.31% 9.08%
2010 8.17% 9.97% 4.53%
2009 8.43% 10.10% 5.13%
2008 7.86% 9.58%
2007 7.87% 9.26%
2006 7.70% 9.98% 10.79%

Rent as a Fraction of Income

Using median household income data for Randolph County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Randolph County, median monthly gross rent as a fraction of median household income was 19.13% in 2017 according to the ACS.

Randolph 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%
Randolph County NC 19.13% +1.65% +1.06%

Trends in Randolph County NC Rent as a Fraction of Income

The fraction of median Randolph County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 20.16%. Since then it has fallen by 1.03% to 19.13%.

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

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

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

Date US North Carolina Randolph County NC
2017 20.13% 19.59% 19.13%
2016 20.43% 19.90% 17.48%
2015 20.63% 20.75% 18.36%
2014 20.89% 20.70% 18.07%
2013 20.78% 20.34% 17.83%
2012 20.65% 20.09% 16.66%
2011 20.70% 20.36% 20.16%
2010 20.50% 20.25% 19.72%
2009 20.12% 19.78% 19.22%
2008 19.00% 17.89% 16.46%
2007 18.66% 18.21% 18.22%
2006 18.90% 18.47% 17.77%

Renter Fraction in Randolph County North Carolina

You can calculate the renter fraction in Randolph 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 Randolph County as a fraction of total Randolph County households. In 2017 29.81% of households were renters according to Census ACS data.

Randolph 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%
Randolph County NC 29.81% +2.95% +2.12%

Trends in the Randolph County NC Renter Fraction

The Randolph County household renter fraction peaked in in 2009 at 31.92% and is now 2.11% below that level. From a recent low of 24.11% in 2011, the household based renter fraction has now grown by 5.70%. The origin year for the series is 2005.

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

Fraction of renters in Randolph County

History of Randolph County Renter Fraction

Date US North Carolina Randolph County NC
2017 36.13% 34.60% 29.81%
2016 36.88% 35.78% 26.86%
2015 36.97% 36.13% 31.82%
2014 36.90% 35.75% 27.69%
2013 36.50% 35.74% 27.63%
2012 36.09% 34.56% 25.38%
2011 35.42% 33.49% 24.11%
2010 34.65% 32.83% 26.07%
2009 34.13% 32.81% 31.92%
2008 33.36% 31.82% 25.28%
2007 32.80% 31.70% 24.99%
2006 32.73% 31.94% 26.36%

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.