Davidson County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Davidson County NC was $700 in 2019 according to the Census ACS survey.1 Average gross rent in Davidson County was $661 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 Davidson County median and average rent data will be released in September of 2021.
Data is also available below for Davidson County rental vacancy rates, Davidson County rent as a percent of median income and the fraction of renters in Davidson County.
Real Gross Rent in Davidson 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% |
| Davidson County NC Median Gross Rent | $700 | +1.01% | -3.18% |
Davidson County NC Real Gross Rent Trends
Median gross rent for Davidson County peaked in real terms in 2015 at $735 and is now $35 (4.76%) lower. Average gross rent for Davidson County peaked in real terms in 2015 at $775 and is now $114 (14.71%) lower.
Real Gross Rent: Davidson County NC Median, Davidson County NC Average, North Carolina Median, US Median
Real Gross Rent History for Davidson County
| Date | US Median |
North Carolina Median |
Davidson County NC Median |
Davidson County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $700 | $661 |
| 2018 | $1,077 | $916 | $693 | $643 |
| 2017 | $1,043 | $888 | $689 | $654 |
| 2016 | $1,027 | $879 | $723 | $697 |
| 2015 | $1,017 | $877 | $735 | $775 |
| 2014 | $986 | $848 | $644 | $612 |
| 2013 | $953 | $819 | $701 | $662 |
| 2012 | $940 | $804 | $674 | $679 |
| 2011 | $941 | $805 | $615 | $606 |
| 2010 | $955 | $817 | $655 | $603 |
| 2009 | $960 | $821 | $679 | $631 |
| 2007 | $927 | $797 | $698 | $656 |
| 2005 | $910 | $794 | $676 | $599 |
Davidson County 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 Davidson County North Carolina was 3.20% according to Census ACS data.
Rental Vacancy Rate in Davidson 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% |
| Davidson County NC | 3.20% | -1.35% | -8.79% |
Trends in Davidson County NC Rental Vacancy Rate
The rental vacancy rate in Davidson County peaked in 2016 at 11.99%. Since then it has fallen by 8.79% to 3.20%. Data records for this series originated in 2005.
Rental Vacancy Rate: Davidson County NC, North Carolina, US
Historical Rental Vacancy Rate data for Davidson County
| Date | US | North Carolina | Davidson County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 3.20% |
| 2018 | 6.15% | 7.03% | 4.55% |
| 2017 | 6.18% | 6.77% | 6.97% |
| 2016 | 5.89% | 6.99% | 11.99% |
| 2015 | 5.85% | 7.02% | 2.74% |
| 2014 | 6.32% | 7.29% | 4.41% |
| 2013 | 6.49% | 7.46% | 1.90% |
| 2012 | 6.77% | 8.00% | 9.17% |
| 2011 | 7.40% | 9.31% | 9.57% |
| 2010 | 8.17% | 9.97% | 6.75% |
| 2009 | 8.43% | 10.10% | 6.57% |
| 2007 | 7.87% | 9.26% | 7.95% |
| 2005 | 7.74% | 9.99% | 2.72% |
Rent as a Fraction of Income
Using median household income data for Davidson County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Davidson County, median monthly gross rent as a fraction of median household income was 15.71% in 2019 according to the ACS.
Davidson 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% |
| Davidson County NC | 15.71% | -2.32% | -2.42% |
Trends in Davidson County NC Rent as a Fraction of Income
The fraction of median Davidson County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 20.60%. Since then it has fallen by 4.89% to 15.71%.
Fraction of Income towards Rent: Davidson County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Davidson County North Carolina
| Date | US | North Carolina | Davidson County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 15.71% |
| 2018 | 20.50% | 20.05% | 18.03% |
| 2017 | 20.13% | 19.59% | 17.13% |
| 2016 | 20.43% | 19.90% | 18.13% |
| 2015 | 20.63% | 20.75% | 18.02% |
| 2014 | 20.89% | 20.70% | 17.35% |
| 2013 | 20.78% | 20.34% | 20.60% |
| 2012 | 20.65% | 20.09% | 17.41% |
| 2011 | 20.70% | 20.36% | 16.95% |
| 2010 | 20.50% | 20.25% | 17.73% |
| 2009 | 20.12% | 19.78% | 16.41% |
| 2007 | 18.66% | 18.21% | 16.45% |
| 2005 | 18.89% | 18.71% | 16.36% |
Renter Fraction in Davidson County North Carolina
You can calculate the renter fraction in Davidson 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 Davidson County as a fraction of total Davidson County households. In 2019 29.26% of households were renters according to Census ACS data.
Davidson 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% |
| Davidson County NC | 29.26% | -5.11% | -1.22% |
Trends in the Davidson County NC Renter Fraction
The Davidson County household renter fraction peaked in in 2018 at 34.37% and is now 5.11% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Davidson County NC, North Carolina, US
History of Davidson County Renter Fraction
| Date | US | North Carolina | Davidson County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 29.26% |
| 2018 | 36.05% | 34.86% | 34.37% |
| 2017 | 36.13% | 34.60% | 27.74% |
| 2016 | 36.88% | 35.78% | 30.48% |
| 2015 | 36.97% | 36.13% | 33.21% |
| 2014 | 36.90% | 35.75% | 29.85% |
| 2013 | 36.50% | 35.74% | 26.93% |
| 2012 | 36.09% | 34.56% | 28.17% |
| 2011 | 35.42% | 33.49% | 27.16% |
| 2010 | 34.65% | 32.83% | 30.53% |
| 2009 | 34.13% | 32.81% | 27.59% |
| 2007 | 32.80% | 31.70% | 27.34% |
| 2005 | 33.10% | 31.81% | 28.31% |
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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