Department of Numbers

Surry County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Surry County NC was $587 in 2017 according to the Census ACS survey.1 Average gross rent in Surry County was $529 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 Surry County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Surry 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%
Surry County NC Median Gross Rent $587 -5.17% -6.38%

Surry County NC Real Gross Rent Trends

Median gross rent for Surry County peaked in real terms in 2010 at $671 and is now $84 (12.52%) lower. Average gross rent for Surry County peaked in real terms in 2009 at $620 and is now $91 (14.68%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Surry County

Date US
Median
North Carolina
Median
Surry County NC
Median
Surry County NC
Average
2017 $1,012 $861 $587 $529
2016 $996 $852 $619 $569
2015 $987 $851 $625 $588
2014 $956 $822 $627 $596
2013 $924 $795 $653 $572
2012 $912 $780 $593 $545
2011 $912 $780 $559 $517
2010 $927 $792 $671 $588
2009 $931 $796 $598 $620
2008 $947 $797 $481 $440
2007 $899 $773 $595 $509
2006 $909 $781 $575 $557

Surry County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Surry County North Carolina was 14.06% according to Census ACS data.

Rental Vacancy Rate in Surry 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%
Surry County NC

Trends in Surry County NC Rental Vacancy Rate

The rental vacancy rate in Surry County peaked in 2014 at 15.55%. Since then it has fallen by 1.49% to 14.06%. Data records for this series originated in 2005.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Surry County

Date US North Carolina Surry County NC
2017 6.18% 6.77%
2016 5.89% 6.99% 14.06%
2015 5.85% 7.02%
2014 6.32% 7.29% 15.55%
2013 6.49% 7.46% 7.40%
2012 6.77% 8.00% 13.79%
2011 7.40% 9.31%
2010 8.17% 9.97%
2009 8.43% 10.10%
2008 7.86% 9.58% 6.98%
2007 7.87% 9.26%
2006 7.70% 9.98% 6.54%

Rent as a Fraction of Income

Using median household income data for Surry County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Surry County, median monthly gross rent as a fraction of median household income was 16.60% in 2017 according to the ACS.

Surry 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%
Surry County NC 16.60% -3.29% -3.52%

Trends in Surry County NC Rent as a Fraction of Income

The fraction of median Surry County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 21.55%. Since then it has fallen by 4.95% to 16.60%.

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

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

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

Date US North Carolina Surry County NC
2017 20.13% 19.59% 16.60%
2016 20.43% 19.90% 19.89%
2015 20.63% 20.75% 19.51%
2014 20.89% 20.70% 20.11%
2013 20.78% 20.34% 21.55%
2012 20.65% 20.09% 19.10%
2011 20.70% 20.36% 19.83%
2010 20.50% 20.25% 20.67%
2009 20.12% 19.78% 19.58%
2008 19.00% 17.89% 13.71%
2007 18.66% 18.21% 17.58%
2006 18.90% 18.47% 16.46%

Renter Fraction in Surry County North Carolina

You can calculate the renter fraction in Surry 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 Surry County as a fraction of total Surry County households. In 2017 27.22% of households were renters according to Census ACS data.

Surry 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%
Surry County NC 27.22% -4.10% -1.67%

Trends in the Surry County NC Renter Fraction

The Surry County household renter fraction peaked in in 2016 at 31.32% and is now 4.10% below that level. The origin year for the series is 2005.

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

Fraction of renters in Surry County

History of Surry County Renter Fraction

Date US North Carolina Surry County NC
2017 36.13% 34.60% 27.22%
2016 36.88% 35.78% 31.32%
2015 36.97% 36.13% 28.31%
2014 36.90% 35.75% 28.89%
2013 36.50% 35.74% 26.24%
2012 36.09% 34.56% 27.22%
2011 35.42% 33.49% 28.57%
2010 34.65% 32.83% 28.44%
2009 34.13% 32.81% 24.92%
2008 33.36% 31.82% 23.40%
2007 32.80% 31.70% 23.58%
2006 32.73% 31.94% 27.81%

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.