Carteret County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Carteret County NC was $851 in 2019 according to the Census ACS survey.1 Average gross rent in Carteret County was $869 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 Carteret County median and average rent data will be released in September of 2021.
Data is also available below for Carteret County rental vacancy rates, Carteret County rent as a percent of median income and the fraction of renters in Carteret County.
Real Gross Rent in Carteret 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% |
| Carteret County NC Median Gross Rent | $851 | -4.92% | -5.13% |
Carteret County NC Real Gross Rent Trends
Median gross rent for Carteret County peaked in real terms in 2017 at $910 and is now $59 (6.48%) lower. Average gross rent for Carteret County peaked in real terms in 2014 at $895 and is now $26 (2.91%) lower.
Real Gross Rent: Carteret County NC Median, Carteret County NC Average, North Carolina Median, US Median
Real Gross Rent History for Carteret County
| Date | US Median |
North Carolina Median |
Carteret County NC Median |
Carteret County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $851 | $869 |
| 2018 | $1,077 | $916 | $895 | $820 |
| 2017 | $1,043 | $888 | $910 | $860 |
| 2016 | $1,027 | $879 | $897 | $806 |
| 2015 | $1,017 | $877 | $904 | $858 |
| 2014 | $986 | $848 | $893 | $895 |
| 2013 | $953 | $819 | $816 | $837 |
| 2012 | $940 | $804 | $839 | $880 |
| 2011 | $941 | $805 | $763 | $780 |
| 2010 | $955 | $817 | $738 | $780 |
| 2009 | $960 | $821 | — | — |
| 2007 | $927 | $797 | — | — |
| 2005 | $910 | $794 | — | — |
Carteret 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 Carteret County North Carolina was 3.00% according to Census ACS data.
Rental Vacancy Rate in Carteret 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% |
| Carteret County NC | — | — | — |
Trends in Carteret County NC Rental Vacancy Rate
The rental vacancy rate in Carteret County peaked in 2010 at 21.59%. Since then it has fallen by 18.59% to 3.00%. Data records for this series originated in 2010.
Rental Vacancy Rate: Carteret County NC, North Carolina, US
Historical Rental Vacancy Rate data for Carteret County
| Date | US | North Carolina | Carteret County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | 3.00% |
| 2017 | 6.18% | 6.77% | 3.37% |
| 2016 | 5.89% | 6.99% | 14.04% |
| 2015 | 5.85% | 7.02% | 11.28% |
| 2014 | 6.32% | 7.29% | 16.24% |
| 2013 | 6.49% | 7.46% | 12.87% |
| 2012 | 6.77% | 8.00% | 16.97% |
| 2011 | 7.40% | 9.31% | 14.18% |
| 2010 | 8.17% | 9.97% | 21.59% |
| 2009 | 8.43% | 10.10% | — |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | — |
Rent as a Fraction of Income
Using median household income data for Carteret County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Carteret County, median monthly gross rent as a fraction of median household income was 16.97% in 2019 according to the ACS.
Carteret 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% |
| Carteret County NC | 16.97% | -2.27% | -3.12% |
Trends in Carteret County NC Rent as a Fraction of Income
The fraction of median Carteret County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2010 series origin) at 20.77%. Since then it has fallen by 3.80% to 16.97%.
Fraction of Income towards Rent: Carteret County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Carteret County North Carolina
| Date | US | North Carolina | Carteret County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 16.97% |
| 2018 | 20.50% | 20.05% | 19.24% |
| 2017 | 20.13% | 19.59% | 20.07% |
| 2016 | 20.43% | 19.90% | 20.08% |
| 2015 | 20.63% | 20.75% | 20.03% |
| 2014 | 20.89% | 20.70% | 20.77% |
| 2013 | 20.78% | 20.34% | 20.56% |
| 2012 | 20.65% | 20.09% | 18.99% |
| 2011 | 20.70% | 20.36% | 19.07% |
| 2010 | 20.50% | 20.25% | 19.50% |
| 2009 | 20.12% | 19.78% | — |
| 2007 | 18.66% | 18.21% | — |
| 2005 | 18.89% | 18.71% | — |
Renter Fraction in Carteret County North Carolina
You can calculate the renter fraction in Carteret 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 Carteret County as a fraction of total Carteret County households. In 2019 27.38% of households were renters according to Census ACS data.
Carteret 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% |
| Carteret County NC | 27.38% | +2.02% | -4.52% |
Trends in the Carteret County NC Renter Fraction
The Carteret County household renter fraction peaked in in 2011 at 34.46% and is now 7.08% below that level. From a recent low of 25.29% in 2013, the household based renter fraction has now grown by 2.09%. The origin year for the series is 2010.
Fraction of Renting Households: Carteret County NC, North Carolina, US
History of Carteret County Renter Fraction
| Date | US | North Carolina | Carteret County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 27.38% |
| 2018 | 36.05% | 34.86% | 25.36% |
| 2017 | 36.13% | 34.60% | 30.17% |
| 2016 | 36.88% | 35.78% | 31.90% |
| 2015 | 36.97% | 36.13% | 27.67% |
| 2014 | 36.90% | 35.75% | 29.57% |
| 2013 | 36.50% | 35.74% | 25.29% |
| 2012 | 36.09% | 34.56% | 28.27% |
| 2011 | 35.42% | 33.49% | 34.46% |
| 2010 | 34.65% | 32.83% | 31.24% |
| 2009 | 34.13% | 32.81% | — |
| 2007 | 32.80% | 31.70% | — |
| 2005 | 33.10% | 31.81% | — |
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. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
