Randolph County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Randolph County NC was $713 in 2019 according to the Census ACS survey.1 Average gross rent in Randolph County was $724 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 Randolph County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Randolph 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% |
| Randolph County NC Median Gross Rent | $713 | +3.33% | +4.24% |
Randolph County NC Real Gross Rent Trends
Median gross rent for Randolph County peaked in real terms in 2011 at $731 and is now $18 (2.46%) lower. From a recent low of 614.0 in 2012, real median gross rent has now increased by $99 (16.12%). At $724, real average gross rent in Randolph County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Randolph County NC Median, Randolph County NC Average, North Carolina Median, US Median
Real Gross Rent History for Randolph County
| Date | US Median |
North Carolina Median |
Randolph County NC Median |
Randolph County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $713 | $724 |
| 2018 | $1,077 | $916 | $690 | $667 |
| 2017 | $1,043 | $888 | $709 | $663 |
| 2016 | $1,027 | $879 | $684 | $595 |
| 2015 | $1,017 | $877 | $687 | $671 |
| 2014 | $986 | $848 | $654 | $648 |
| 2013 | $953 | $819 | $628 | $621 |
| 2012 | $940 | $804 | $614 | $619 |
| 2011 | $941 | $805 | $731 | $701 |
| 2010 | $955 | $817 | $703 | $656 |
| 2009 | $960 | $821 | $670 | $605 |
| 2007 | $927 | $797 | $652 | $560 |
| 2005 | $910 | $794 | $684 | $581 |
Randolph County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Randolph County North Carolina was 4.13% according to Census ACS data.
Rental Vacancy Rate in Randolph 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% |
| Randolph County NC | — | — | — |
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 6.66% to 4.13%. Data records for this series originated in 2005. From a 2017 post peak low of 1.86%, the rental vacancy rate has increased by 2.27%.
Rental Vacancy Rate: Randolph County NC, North Carolina, US
Historical Rental Vacancy Rate data for Randolph County
| Date | US | North Carolina | Randolph County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | 4.13% |
| 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% |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | 7.19% |
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 17.20% in 2019 according to the ACS.
Randolph 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% |
| Randolph County NC | 17.20% | +0.13% | -0.28% |
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 2.96% to 17.20%.
Fraction of Income towards Rent: Randolph County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Randolph County North Carolina
| Date | US | North Carolina | Randolph County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 17.20% |
| 2018 | 20.50% | 20.05% | 17.07% |
| 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% |
| 2007 | 18.66% | 18.21% | 18.22% |
| 2005 | 18.89% | 18.71% | 19.02% |
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 2019 28.42% of households were renters according to Census ACS data.
Randolph 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% |
| Randolph County NC | 28.42% | +3.09% | +1.56% |
Trends in the Randolph County NC Renter Fraction
The Randolph County household renter fraction peaked in in 2009 at 31.92% and is now 3.50% below that level. From a recent low of 24.11% in 2011, the household based renter fraction has now grown by 4.31%. The origin year for the series is 2005.
Fraction of Renting Households: Randolph County NC, North Carolina, US
History of Randolph County Renter Fraction
| Date | US | North Carolina | Randolph County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 28.42% |
| 2018 | 36.05% | 34.86% | 25.33% |
| 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% |
| 2007 | 32.80% | 31.70% | 24.99% |
| 2005 | 33.10% | 31.81% | 27.40% |
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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