Burlington North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Burlington, NC (the Burlington metro area) was $796 in 2019 according to the Census ACS survey.1 Average gross rent in Burlington was $793 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 Burlington median and average rent data will be released in September of 2021.
Data is also available below for Burlington rental vacancy rates, Burlington rent as a percent of median income and the fraction of renters in Burlington.
Real Gross Rent in Burlington 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% |
| Burlington, NC Median Gross Rent | $796 | -4.56% | +4.33% |
Burlington, NC Real Gross Rent Trends
Median gross rent for Burlington peaked in real terms in 2018 at $834 and is now $38 (4.56%) lower. Average gross rent for Burlington peaked in real terms in 2007 at $818 and is now $25 (3.06%) lower. From a recent low of 686.0 in 2012, real average gross rent has now increased by $107 (15.60%).
Real Gross Rent in Burlington: Burlington NC Median, Burlington NC Average, North Carolina Median, US Median
Real Gross Rent History for Burlington
| Date | US Median |
North Carolina Median |
Burlington, NC Median |
Burlington, NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $796 | $793 |
| 2018 | $1,077 | $916 | $834 | $800 |
| 2017 | $1,043 | $888 | $782 | $767 |
| 2016 | $1,027 | $879 | $763 | $792 |
| 2015 | $1,017 | $877 | $788 | $804 |
| 2014 | $986 | $848 | $813 | $803 |
| 2013 | $953 | $819 | $775 | $772 |
| 2012 | $940 | $804 | $739 | $686 |
| 2011 | $941 | $805 | $734 | $747 |
| 2010 | $955 | $817 | $741 | $753 |
| 2009 | $960 | $821 | $786 | $781 |
| 2007 | $927 | $797 | $807 | $818 |
| 2005 | $910 | $794 | $801 | $778 |
Burlington Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Burlington North Carolina was 7.76% according to Census ACS data.
Rental Vacancy Rate in Burlington North Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| North Carolina | 6.60% | -0.43% | -0.39% |
| Burlington, NC | 7.76% | +1.92% | — |
Trends in Burlington, NC Rental Vacancy Rate
The rental vacancy rate in Burlington peaked in 2009 at 16.17%. Since then it has fallen by 8.41% to 7.76%. Data records for this series originated in 2005.
Rental Vacancy Rate: Burlington NC, North Carolina, US
Historical Rental Vacancy Rate data for Burlington
| Date | US | North Carolina | Burlington, NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 7.76% |
| 2018 | 6.15% | 7.03% | 5.84% |
| 2017 | 6.18% | 6.77% | 5.98% |
| 2016 | 5.89% | 6.99% | — |
| 2015 | 5.85% | 7.02% | — |
| 2014 | 6.32% | 7.29% | 6.14% |
| 2013 | 6.49% | 7.46% | — |
| 2012 | 6.77% | 8.00% | 9.12% |
| 2011 | 7.40% | 9.31% | — |
| 2010 | 8.17% | 9.97% | — |
| 2009 | 8.43% | 10.10% | 16.17% |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | 9.70% |
Rent as a Fraction of Income
Using median household income data for Burlington, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Burlington, median monthly gross rent as a fraction of median household income was 16.33% in 2019 according to the ACS.
Burlington 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% |
| Burlington, NC | 16.33% | -3.33% | -3.07% |
Trends in Burlington, NC Rent as a Fraction of Income
The fraction of median Burlington household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 23.35%. Since then it has fallen by 7.02% to 16.33%.
Fraction of Income towards Rent: Burlington NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Burlington North Carolina
| Date | US | North Carolina | Burlington, NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 16.33% |
| 2018 | 20.50% | 20.05% | 19.66% |
| 2017 | 20.13% | 19.59% | 20.15% |
| 2016 | 20.43% | 19.90% | 19.40% |
| 2015 | 20.63% | 20.75% | 22.55% |
| 2014 | 20.89% | 20.70% | 23.35% |
| 2013 | 20.78% | 20.34% | 20.78% |
| 2012 | 20.65% | 20.09% | 20.96% |
| 2011 | 20.70% | 20.36% | 20.05% |
| 2010 | 20.50% | 20.25% | 19.38% |
| 2009 | 20.12% | 19.78% | 19.37% |
| 2007 | 18.66% | 18.21% | 19.86% |
| 2005 | 18.89% | 18.71% | 19.06% |
Renter Fraction in Burlington North Carolina
You can calculate the renter fraction in Burlington 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 Burlington as a fraction of total Burlington households. In 2019 31.48% of households were renters according to Census ACS data.
Burlington 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% |
| Burlington, NC | 31.48% | -1.87% | -4.80% |
Trends in the Burlington, NC Renter Fraction
The Burlington household renter fraction peaked in in 2015 at 37.37% and is now 5.89% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Burlington NC, North Carolina, US
History of Burlington Renter Fraction
| Date | US | North Carolina | Burlington, NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 31.48% |
| 2018 | 36.05% | 34.86% | 33.35% |
| 2017 | 36.13% | 34.60% | 36.25% |
| 2016 | 36.88% | 35.78% | 36.28% |
| 2015 | 36.97% | 36.13% | 37.37% |
| 2014 | 36.90% | 35.75% | 34.62% |
| 2013 | 36.50% | 35.74% | 34.45% |
| 2012 | 36.09% | 34.56% | 36.13% |
| 2011 | 35.42% | 33.49% | 31.79% |
| 2010 | 34.65% | 32.83% | 34.67% |
| 2009 | 34.13% | 32.81% | 30.69% |
| 2007 | 32.80% | 31.70% | 31.47% |
| 2005 | 33.10% | 31.81% | 28.56% |
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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