Department of Numbers

Rutherford County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Rutherford County NC was $587 in 2017 according to the Census ACS survey.1 Average gross rent in Rutherford County was $481 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 Rutherford County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Rutherford 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%
Rutherford County NC Median Gross Rent $587 +1.21% -6.83%

Rutherford County NC Real Gross Rent Trends

Median gross rent for Rutherford County peaked in real terms in 2010 at $646 and is now $59 (9.13%) lower. From a recent low of 570.0 in 2011, real median gross rent has now increased by $17 (2.98%). Average gross rent for Rutherford County peaked in real terms in 2014 at $617 and is now $136 (22.04%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rutherford County

Date US
Median
North Carolina
Median
Rutherford County NC
Median
Rutherford County NC
Average
2017 $1,012 $861 $587 $481
2016 $996 $852 $580 $573
2015 $987 $851 $615 $600
2014 $956 $822 $630 $617
2013 $924 $795 $585 $561
2012 $912 $780 $587 $494
2011 $912 $780 $570 $497
2010 $927 $792 $646 $561
2009 $931 $796
2008 $947 $797
2007 $899 $773
2006 $909 $781

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

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
North Carolina 6.77% -0.22% -0.52%
Rutherford County NC 4.13% -5.59% -6.62%

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Rutherford County

Date US North Carolina Rutherford County NC
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%
2008 7.86% 9.58%
2007 7.87% 9.26%
2006 7.70% 9.98%

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 17.36% in 2017 according to the ACS.

Rutherford 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%
Rutherford County NC 17.36% -1.61% -4.12%

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 4.12% to 17.36%.

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

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

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

Date US North Carolina Rutherford County NC
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%
2008 19.00% 17.89%
2007 18.66% 18.21%
2006 18.90% 18.47%

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 2017 29.54% of households were renters according to Census ACS data.

Rutherford 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%
Rutherford County NC 29.54% +1.58% +3.69%

Trends in the Rutherford County NC Renter Fraction

The Rutherford County household renter fraction peaked in in 2013 at 31.49% and is now 1.95% below that level. The origin year for the series is 2010.

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

Fraction of renters in Rutherford County

History of Rutherford County Renter Fraction

Date US North Carolina Rutherford County NC
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%
2008 33.36% 31.82%
2007 32.80% 31.70%
2006 32.73% 31.94%

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.