Department of Numbers

Rockingham County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Rockingham County NC was $655 in 2017 according to the Census ACS survey.1 Average gross rent in Rockingham County was $622 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 Rockingham County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Rockingham 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%
Rockingham County NC Median Gross Rent $655 +2.99% +2.18%

Rockingham County NC Real Gross Rent Trends

Median gross rent for Rockingham County peaked in real terms in 2015 at $672 and is now $17 (2.53%) lower. Average gross rent for Rockingham County peaked in real terms in 2005 at $630 and is now $8 (1.27%) lower. From a recent low of 499.0 in 2007, real average gross rent has now increased by $123 (24.65%).

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rockingham County

Date US
Median
North Carolina
Median
Rockingham County NC
Median
Rockingham County NC
Average
2017 $1,012 $861 $655 $622
2016 $996 $852 $636 $582
2015 $987 $851 $672 $573
2014 $956 $822 $641 $584
2013 $924 $795 $582 $537
2012 $912 $780 $609 $534
2011 $912 $780 $635 $539
2010 $927 $792 $633 $584
2009 $931 $796 $602 $548
2008 $947 $797 $623 $563
2007 $899 $773 $581 $499
2006 $909 $781 $562 $543

Rockingham County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Rockingham County North Carolina was 7.54% according to Census ACS data.

Rental Vacancy Rate in Rockingham 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%
Rockingham County NC

Trends in Rockingham County NC Rental Vacancy Rate

The rental vacancy rate in Rockingham County peaked in 2008 at 15.32%. Since then it has fallen by 7.78% to 7.54%. Data records for this series originated in 2005. From a 2012 post peak low of 6.24%, the rental vacancy rate has increased by 1.30%.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Rockingham County

Date US North Carolina Rockingham County NC
2017 6.18% 6.77%
2016 5.89% 6.99%
2015 5.85% 7.02% 7.54%
2014 6.32% 7.29% 8.48%
2013 6.49% 7.46% 12.13%
2012 6.77% 8.00% 6.24%
2011 7.40% 9.31% 9.65%
2010 8.17% 9.97% 12.87%
2009 8.43% 10.10% 12.72%
2008 7.86% 9.58% 15.32%
2007 7.87% 9.26% 12.71%
2006 7.70% 9.98% 7.26%

Rent as a Fraction of Income

Using median household income data for Rockingham County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rockingham County, median monthly gross rent as a fraction of median household income was 16.31% in 2017 according to the ACS.

Rockingham 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%
Rockingham County NC 16.31% -2.02% -3.01%

Trends in Rockingham County NC Rent as a Fraction of Income

The fraction of median Rockingham County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 20.49%. Since then it has fallen by 4.18% to 16.31%.

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

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

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

Date US North Carolina Rockingham County NC
2017 20.13% 19.59% 16.31%
2016 20.43% 19.90% 18.33%
2015 20.63% 20.75% 20.49%
2014 20.89% 20.70% 19.32%
2013 20.78% 20.34% 16.55%
2012 20.65% 20.09% 19.74%
2011 20.70% 20.36% 20.30%
2010 20.50% 20.25% 18.53%
2009 20.12% 19.78% 18.65%
2008 19.00% 17.89% 17.26%
2007 18.66% 18.21% 15.57%
2006 18.90% 18.47% 15.37%

Renter Fraction in Rockingham County North Carolina

You can calculate the renter fraction in Rockingham 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 Rockingham County as a fraction of total Rockingham County households. In 2017 28.37% of households were renters according to Census ACS data.

Rockingham 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%
Rockingham County NC 28.37% -6.28% -3.12%

Trends in the Rockingham County NC Renter Fraction

The Rockingham County household renter fraction peaked in in 2016 at 34.65% and is now 6.28% below that level. The origin year for the series is 2005.

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

Fraction of renters in Rockingham County

History of Rockingham County Renter Fraction

Date US North Carolina Rockingham County NC
2017 36.13% 34.60% 28.37%
2016 36.88% 35.78% 34.65%
2015 36.97% 36.13% 32.65%
2014 36.90% 35.75% 31.49%
2013 36.50% 35.74% 33.60%
2012 36.09% 34.56% 29.00%
2011 35.42% 33.49% 28.60%
2010 34.65% 32.83% 27.35%
2009 34.13% 32.81% 27.59%
2008 33.36% 31.82% 23.76%
2007 32.80% 31.70% 28.64%
2006 32.73% 31.94% 31.58%

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.