Caldwell County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Caldwell County NC was $668 in 2019 according to the Census ACS survey.1 Average gross rent in Caldwell County was $603 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 Caldwell County median and average rent data will be released in September of 2021.
Data is also available below for Caldwell County rental vacancy rates, Caldwell County rent as a percent of median income and the fraction of renters in Caldwell County.
Real Gross Rent in Caldwell County 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% |
| Caldwell County NC Median Gross Rent | $668 | +4.87% | +5.03% |
Caldwell County NC Real Gross Rent Trends
Median gross rent for Caldwell County peaked in real terms in 2010 at $684 and is now $16 (2.34%) lower. Average gross rent for Caldwell County peaked in real terms in 2016 at $628 and is now $25 (3.98%) lower.
Real Gross Rent: Caldwell County NC Median, Caldwell County NC Average, North Carolina Median, US Median
Real Gross Rent History for Caldwell County
| Date | US Median |
North Carolina Median |
Caldwell County NC Median |
Caldwell County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $668 | $603 |
| 2018 | $1,077 | $916 | $637 | $620 |
| 2017 | $1,043 | $888 | $633 | $605 |
| 2016 | $1,027 | $879 | $636 | $628 |
| 2015 | $1,017 | $877 | $627 | $571 |
| 2014 | $986 | $848 | $669 | $585 |
| 2013 | $953 | $819 | $633 | $561 |
| 2012 | $940 | $804 | $611 | $560 |
| 2011 | $941 | $805 | $620 | $541 |
| 2010 | $955 | $817 | $684 | $581 |
| 2009 | $960 | $821 | $672 | $532 |
| 2007 | $927 | $797 | $570 | $493 |
| 2005 | $910 | $794 | $644 | $548 |
Caldwell County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Caldwell County North Carolina was 4.77% according to Census ACS data.
Rental Vacancy Rate in Caldwell County North Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| North Carolina | 6.60% | -0.43% | -0.39% |
| Caldwell County NC | — | — | — |
Trends in Caldwell County NC Rental Vacancy Rate
The rental vacancy rate in Caldwell County peaked in 2010 at 24.40%. Since then it has fallen by 19.63% to 4.77%. Data records for this series originated in 2005. From a 2015 post peak low of 4.15%, the rental vacancy rate has increased by 0.62%.
Rental Vacancy Rate: Caldwell County NC, North Carolina, US
Historical Rental Vacancy Rate data for Caldwell County
| Date | US | North Carolina | Caldwell County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | 4.77% |
| 2017 | 6.18% | 6.77% | — |
| 2016 | 5.89% | 6.99% | 5.26% |
| 2015 | 5.85% | 7.02% | 4.15% |
| 2014 | 6.32% | 7.29% | — |
| 2013 | 6.49% | 7.46% | — |
| 2012 | 6.77% | 8.00% | — |
| 2011 | 7.40% | 9.31% | 10.30% |
| 2010 | 8.17% | 9.97% | 24.40% |
| 2009 | 8.43% | 10.10% | 18.30% |
| 2007 | 7.87% | 9.26% | 13.63% |
| 2005 | 7.74% | 9.99% | — |
Rent as a Fraction of Income
Using median household income data for Caldwell County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Caldwell County, median monthly gross rent as a fraction of median household income was 16.45% in 2019 according to the ACS.
Caldwell County 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% |
| Caldwell County NC | 16.45% | -1.33% | -3.62% |
Trends in Caldwell County NC Rent as a Fraction of Income
The fraction of median Caldwell County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 22.27%. Since then it has fallen by 5.82% to 16.45%.
Fraction of Income towards Rent: Caldwell County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Caldwell County North Carolina
| Date | US | North Carolina | Caldwell County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 16.45% |
| 2018 | 20.50% | 20.05% | 17.78% |
| 2017 | 20.13% | 19.59% | 16.36% |
| 2016 | 20.43% | 19.90% | 20.07% |
| 2015 | 20.63% | 20.75% | 18.32% |
| 2014 | 20.89% | 20.70% | 20.09% |
| 2013 | 20.78% | 20.34% | 22.27% |
| 2012 | 20.65% | 20.09% | 21.94% |
| 2011 | 20.70% | 20.36% | 20.75% |
| 2010 | 20.50% | 20.25% | 20.37% |
| 2009 | 20.12% | 19.78% | 21.92% |
| 2007 | 18.66% | 18.21% | 15.33% |
| 2005 | 18.89% | 18.71% | 16.59% |
Renter Fraction in Caldwell County North Carolina
You can calculate the renter fraction in Caldwell 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 Caldwell County as a fraction of total Caldwell County households. In 2019 25.80% of households were renters according to Census ACS data.
Caldwell County 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% |
| Caldwell County NC | 25.80% | -2.00% | -8.70% |
Trends in the Caldwell County NC Renter Fraction
The Caldwell County household renter fraction peaked in in 2016 at 34.50% and is now 8.70% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Caldwell County NC, North Carolina, US
History of Caldwell County Renter Fraction
| Date | US | North Carolina | Caldwell County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 25.80% |
| 2018 | 36.05% | 34.86% | 27.80% |
| 2017 | 36.13% | 34.60% | 28.69% |
| 2016 | 36.88% | 35.78% | 34.50% |
| 2015 | 36.97% | 36.13% | 29.55% |
| 2014 | 36.90% | 35.75% | 29.93% |
| 2013 | 36.50% | 35.74% | 27.53% |
| 2012 | 36.09% | 34.56% | 32.33% |
| 2011 | 35.42% | 33.49% | 27.08% |
| 2010 | 34.65% | 32.83% | 26.09% |
| 2009 | 34.13% | 32.81% | 28.88% |
| 2007 | 32.80% | 31.70% | 20.36% |
| 2005 | 33.10% | 31.81% | 27.28% |
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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