Rutherford County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Rutherford County NC was $647 in 2019 according to the Census ACS survey.1 Average gross rent in Rutherford County was $743 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 Rutherford County median and average rent data will be released in September of 2021.
Data is also available below for Rutherford County rental vacancy rates, Rutherford County rent as a percent of median income and the fraction of renters in Rutherford County.
Real Gross Rent in Rutherford 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% |
| Rutherford County NC Median Gross Rent | $647 | -11.37% | +8.19% |
Rutherford County NC Real Gross Rent Trends
Median gross rent for Rutherford County peaked in real terms in 2018 at $730 and is now $83 (11.37%) lower. At $743, real average gross rent in Rutherford County was at its highest level in 2019 since the series began in 2010.
Real Gross Rent: Rutherford County NC Median, Rutherford County NC Average, North Carolina Median, US Median
Real Gross Rent History for Rutherford County
| Date | US Median |
North Carolina Median |
Rutherford County NC Median |
Rutherford County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $647 | $743 |
| 2018 | $1,077 | $916 | $730 | $681 |
| 2017 | $1,043 | $888 | $605 | $496 |
| 2016 | $1,027 | $879 | $598 | $591 |
| 2015 | $1,017 | $877 | $634 | $618 |
| 2014 | $986 | $848 | $649 | $637 |
| 2013 | $953 | $819 | $603 | $578 |
| 2012 | $940 | $804 | $605 | $510 |
| 2011 | $941 | $805 | $588 | $512 |
| 2010 | $955 | $817 | $666 | $579 |
| 2009 | $960 | $821 | — | — |
| 2007 | $927 | $797 | — | — |
| 2005 | $910 | $794 | — | — |
Rutherford 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 Rutherford County North Carolina was 4.13% according to Census ACS data.
Rental Vacancy Rate in Rutherford 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% |
| Rutherford County NC | — | — | — |
Trends in Rutherford County NC Rental Vacancy Rate
The rental vacancy rate in Rutherford County peaked in 2015 at 12.77%. Since then it has fallen by 8.64% to 4.13%. Data records for this series originated in 2010.
Rental Vacancy Rate: Rutherford County NC, North Carolina, US
Historical Rental Vacancy Rate data for Rutherford County
| Date | US | North Carolina | Rutherford County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | — |
| 2017 | 6.18% | 6.77% | 4.13% |
| 2016 | 5.89% | 6.99% | 9.72% |
| 2015 | 5.85% | 7.02% | 12.77% |
| 2014 | 6.32% | 7.29% | 10.75% |
| 2013 | 6.49% | 7.46% | — |
| 2012 | 6.77% | 8.00% | 9.32% |
| 2011 | 7.40% | 9.31% | 12.37% |
| 2010 | 8.17% | 9.97% | 9.60% |
| 2009 | 8.43% | 10.10% | — |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | — |
Rent as a Fraction of Income
Using median household income data for Rutherford County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rutherford County, median monthly gross rent as a fraction of median household income was 17.50% in 2019 according to the ACS.
Rutherford 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% |
| Rutherford County NC | 17.50% | -2.46% | -1.47% |
Trends in Rutherford County NC Rent as a Fraction of Income
The fraction of median Rutherford County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2010 series origin) at 21.49%. Since then it has fallen by 3.98% to 17.50%. From a 2017 low of 17.36%, the fraction of income going to rent has increased by 0.14%.
Fraction of Income towards Rent: Rutherford County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Rutherford County North Carolina
| Date | US | North Carolina | Rutherford County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 17.50% |
| 2018 | 20.50% | 20.05% | 19.96% |
| 2017 | 20.13% | 19.59% | 17.36% |
| 2016 | 20.43% | 19.90% | 18.97% |
| 2015 | 20.63% | 20.75% | 20.16% |
| 2014 | 20.89% | 20.70% | 21.49% |
| 2013 | 20.78% | 20.34% | 19.65% |
| 2012 | 20.65% | 20.09% | 20.79% |
| 2011 | 20.70% | 20.36% | 18.24% |
| 2010 | 20.50% | 20.25% | 20.18% |
| 2009 | 20.12% | 19.78% | — |
| 2007 | 18.66% | 18.21% | — |
| 2005 | 18.89% | 18.71% | — |
Renter Fraction in Rutherford County North Carolina
You can calculate the renter fraction in Rutherford 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 Rutherford County as a fraction of total Rutherford County households. In 2019 24.58% of households were renters according to Census ACS data.
Rutherford 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% |
| Rutherford County NC | 24.58% | -7.49% | -3.38% |
Trends in the Rutherford County NC Renter Fraction
The Rutherford County household renter fraction peaked in in 2018 at 32.07% and is now 7.49% below that level. The origin year for the series is 2010.
Fraction of Renting Households: Rutherford County NC, North Carolina, US
History of Rutherford County Renter Fraction
| Date | US | North Carolina | Rutherford County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 24.58% |
| 2018 | 36.05% | 34.86% | 32.07% |
| 2017 | 36.13% | 34.60% | 29.54% |
| 2016 | 36.88% | 35.78% | 27.96% |
| 2015 | 36.97% | 36.13% | 29.29% |
| 2014 | 36.90% | 35.75% | 25.85% |
| 2013 | 36.50% | 35.74% | 31.49% |
| 2012 | 36.09% | 34.56% | 25.64% |
| 2011 | 35.42% | 33.49% | 28.43% |
| 2010 | 34.65% | 32.83% | 27.88% |
| 2009 | 34.13% | 32.81% | — |
| 2007 | 32.80% | 31.70% | — |
| 2005 | 33.10% | 31.81% | — |
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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