Department of Numbers

Wilkes County North Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Wilkes County NC was $584 in 2017 according to the Census ACS survey.1 Average gross rent in Wilkes County was $607 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 Wilkes County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Wilkes 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%
Wilkes County NC Median Gross Rent $584 -18.89% -3.63%

Wilkes County NC Real Gross Rent Trends

Median gross rent for Wilkes County peaked in real terms in 2016 at $720 and is now $136 (18.89%) lower. At $607, real average gross rent in Wilkes County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Wilkes County

Date US
Median
North Carolina
Median
Wilkes County NC
Median
Wilkes County NC
Average
2017 $1,012 $861 $584 $607
2016 $996 $852 $720 $603
2015 $987 $851 $563 $526
2014 $956 $822 $606 $551
2013 $924 $795 $579 $494
2012 $912 $780 $575 $513
2011 $912 $780 $629 $589
2010 $927 $792 $570 $525
2009 $931 $796 $526 $463
2008 $947 $797 $597 $496
2007 $899 $773 $541 $477
2006 $909 $781 $585 $518

Wilkes 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 Wilkes County North Carolina was 12.54% according to Census ACS data.

Rental Vacancy Rate in Wilkes 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%
Wilkes County NC

Trends in Wilkes County NC Rental Vacancy Rate

The rental vacancy rate in Wilkes County peaked in 2006 at 17.68%. Since then it has fallen by 5.14% to 12.54%. Data records for this series originated in 2005. From a 2012 post peak low of 9.05%, the rental vacancy rate has increased by 3.49%.

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

Rental vacancy rate in North Carolina

Historical Rental Vacancy Rate data for Wilkes County

Date US North Carolina Wilkes County NC
2017 6.18% 6.77%
2016 5.89% 6.99%
2015 5.85% 7.02% 12.54%
2014 6.32% 7.29%
2013 6.49% 7.46% 11.47%
2012 6.77% 8.00% 9.05%
2011 7.40% 9.31%
2010 8.17% 9.97%
2009 8.43% 10.10%
2008 7.86% 9.58%
2007 7.87% 9.26%
2006 7.70% 9.98% 17.68%

Rent as a Fraction of Income

Using median household income data for Wilkes County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wilkes County, median monthly gross rent as a fraction of median household income was 17.09% in 2017 according to the ACS.

Wilkes 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%
Wilkes County NC 17.09% -3.49% -6.01%

Trends in Wilkes County NC Rent as a Fraction of Income

The fraction of median Wilkes County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 23.86%. Since then it has fallen by 6.76% to 17.09%.

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

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

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

Date US North Carolina Wilkes County NC
2017 20.13% 19.59% 17.09%
2016 20.43% 19.90% 20.58%
2015 20.63% 20.75% 16.04%
2014 20.89% 20.70% 23.11%
2013 20.78% 20.34% 21.85%
2012 20.65% 20.09% 20.24%
2011 20.70% 20.36% 23.86%
2010 20.50% 20.25% 19.81%
2009 20.12% 19.78% 16.86%
2008 19.00% 17.89% 21.01%
2007 18.66% 18.21% 15.96%
2006 18.90% 18.47% 18.16%

Renter Fraction in Wilkes County North Carolina

You can calculate the renter fraction in Wilkes 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 Wilkes County as a fraction of total Wilkes County households. In 2017 22.72% of households were renters according to Census ACS data.

Wilkes 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%
Wilkes County NC 22.72% +0.28% -8.75%

Trends in the Wilkes County NC Renter Fraction

The Wilkes County household renter fraction peaked in in 2014 at 31.47% and is now 8.75% below that level. The origin year for the series is 2005.

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

Fraction of renters in Wilkes County

History of Wilkes County Renter Fraction

Date US North Carolina Wilkes County NC
2017 36.13% 34.60% 22.72%
2016 36.88% 35.78% 22.44%
2015 36.97% 36.13% 23.93%
2014 36.90% 35.75% 31.47%
2013 36.50% 35.74% 26.74%
2012 36.09% 34.56% 22.22%
2011 35.42% 33.49% 27.19%
2010 34.65% 32.83% 25.22%
2009 34.13% 32.81% 30.49%
2008 33.36% 31.82% 24.31%
2007 32.80% 31.70% 23.88%
2006 32.73% 31.94% 23.05%

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.