Union County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Union County NC was $915 in 2017 according to the Census ACS survey.1 Average gross rent in Union County was $927 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 Union County median and average rent data will be released in September of 2019.
Data is also available below for Union County rental vacancy rates, Union County rent as a percent of median income and the fraction of renters in Union County.
Real Gross Rent in Union 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% |
| Union County NC Median Gross Rent | $915 | -5.77% | -0.76% |
Union County NC Real Gross Rent Trends
Median gross rent for Union County peaked in real terms in 2015 at $985 and is now $70 (7.11%) lower. Average gross rent for Union County peaked in real terms in 2013 at $963 and is now $36 (3.74%) lower.
Real Gross Rent: Union County NC Median, Union County NC Average, North Carolina Median, US Median
Real Gross Rent History for Union County
| Date | US Median |
North Carolina Median |
Union County NC Median |
Union County NC Average |
|---|---|---|---|---|
| 2017 | $1,012 | $861 | $915 | $927 |
| 2016 | $996 | $852 | $971 | $895 |
| 2015 | $987 | $851 | $985 | $962 |
| 2014 | $956 | $822 | $922 | $946 |
| 2013 | $924 | $795 | $964 | $963 |
| 2012 | $912 | $780 | $819 | $844 |
| 2011 | $912 | $780 | $727 | $760 |
| 2010 | $927 | $792 | $949 | $916 |
| 2009 | $931 | $796 | $863 | $857 |
| 2008 | $947 | $797 | $914 | $893 |
| 2007 | $899 | $773 | $886 | $899 |
| 2006 | $909 | $781 | $806 | $818 |
Union 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 Union County North Carolina was 1.30% according to Census ACS data.
Rental Vacancy Rate in Union 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% |
| Union County NC | — | — | — |
Trends in Union County NC Rental Vacancy Rate
The rental vacancy rate in Union County peaked in 2008 at 11.41%. Since then it has fallen by 10.11% to 1.30%. Data records for this series originated in 2005.
Rental Vacancy Rate: Union County NC, North Carolina, US
Historical Rental Vacancy Rate data for Union County
| Date | US | North Carolina | Union County NC |
|---|---|---|---|
| 2017 | 6.18% | 6.77% | — |
| 2016 | 5.89% | 6.99% | 1.30% |
| 2015 | 5.85% | 7.02% | — |
| 2014 | 6.32% | 7.29% | 6.12% |
| 2013 | 6.49% | 7.46% | — |
| 2012 | 6.77% | 8.00% | 2.74% |
| 2011 | 7.40% | 9.31% | — |
| 2010 | 8.17% | 9.97% | — |
| 2009 | 8.43% | 10.10% | 8.38% |
| 2008 | 7.86% | 9.58% | 11.41% |
| 2007 | 7.87% | 9.26% | — |
| 2006 | 7.70% | 9.98% | — |
Rent as a Fraction of Income
Using median household income data for Union County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Union County, median monthly gross rent as a fraction of median household income was 14.13% in 2017 according to the ACS.
Union 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% |
| Union County NC | 14.13% | -1.89% | -3.04% |
Trends in Union County NC Rent as a Fraction of Income
The fraction of median Union County household income required to pay median monthly gross rent peaked in 2005 (relative to the 2005 series origin) at 18.45%. Since then it has fallen by 4.32% to 14.13%. From a 2011 low of 13.64%, the fraction of income going to rent has increased by 0.49%.
Fraction of Income towards Rent: Union County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Union County North Carolina
| Date | US | North Carolina | Union County NC |
|---|---|---|---|
| 2017 | 20.13% | 19.59% | 14.13% |
| 2016 | 20.43% | 19.90% | 16.03% |
| 2015 | 20.63% | 20.75% | 16.01% |
| 2014 | 20.89% | 20.70% | 17.17% |
| 2013 | 20.78% | 20.34% | 17.88% |
| 2012 | 20.65% | 20.09% | 15.89% |
| 2011 | 20.70% | 20.36% | 13.64% |
| 2010 | 20.50% | 20.25% | 16.03% |
| 2009 | 20.12% | 19.78% | 15.02% |
| 2008 | 19.00% | 17.89% | 15.38% |
| 2007 | 18.66% | 18.21% | 15.55% |
| 2006 | 18.90% | 18.47% | 13.74% |
Renter Fraction in Union County North Carolina
You can calculate the renter fraction in Union 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 Union County as a fraction of total Union County households. In 2017 17.93% of households were renters according to Census ACS data.
Union 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% |
| Union County NC | 17.93% | +0.02% | -3.08% |
Trends in the Union County NC Renter Fraction
The Union County household renter fraction peaked in in 2012 at 23.22% and is now 5.29% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Union County NC, North Carolina, US
History of Union County Renter Fraction
| Date | US | North Carolina | Union County NC |
|---|---|---|---|
| 2017 | 36.13% | 34.60% | 17.93% |
| 2016 | 36.88% | 35.78% | 17.91% |
| 2015 | 36.97% | 36.13% | 22.54% |
| 2014 | 36.90% | 35.75% | 21.01% |
| 2013 | 36.50% | 35.74% | 21.68% |
| 2012 | 36.09% | 34.56% | 23.22% |
| 2011 | 35.42% | 33.49% | 17.80% |
| 2010 | 34.65% | 32.83% | 15.13% |
| 2009 | 34.13% | 32.81% | 16.44% |
| 2008 | 33.36% | 31.82% | 18.70% |
| 2007 | 32.80% | 31.70% | 19.76% |
| 2006 | 32.73% | 31.94% | 21.03% |
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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