Gaston County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Gaston County NC was $825 in 2019 according to the Census ACS survey.1 Average gross rent in Gaston County was $801 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 Gaston County median and average rent data will be released in September of 2021.
Data is also available below for Gaston County rental vacancy rates, Gaston County rent as a percent of median income and the fraction of renters in Gaston County.
Real Gross Rent in Gaston 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% |
| Gaston County NC Median Gross Rent | $825 | -5.93% | +3.12% |
Gaston County NC Real Gross Rent Trends
Median gross rent for Gaston County peaked in real terms in 2018 at $877 and is now $52 (5.93%) lower. Average gross rent for Gaston County peaked in real terms in 2018 at $854 and is now $53 (6.21%) lower.
Real Gross Rent: Gaston County NC Median, Gaston County NC Average, North Carolina Median, US Median
Real Gross Rent History for Gaston County
| Date | US Median |
North Carolina Median |
Gaston County NC Median |
Gaston County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $825 | $801 |
| 2018 | $1,077 | $916 | $877 | $854 |
| 2017 | $1,043 | $888 | $798 | $788 |
| 2016 | $1,027 | $879 | $800 | $749 |
| 2015 | $1,017 | $877 | $805 | $785 |
| 2014 | $986 | $848 | $756 | $769 |
| 2013 | $953 | $819 | $741 | $718 |
| 2012 | $940 | $804 | $752 | $733 |
| 2011 | $941 | $805 | $753 | $744 |
| 2010 | $955 | $817 | $742 | $714 |
| 2009 | $960 | $821 | $765 | $721 |
| 2007 | $927 | $797 | $761 | $686 |
| 2005 | $910 | $794 | $730 | $693 |
Gaston 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 Gaston County North Carolina was 8.04% according to Census ACS data.
Rental Vacancy Rate in Gaston 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% |
| Gaston County NC | 8.04% | +0.70% | — |
Trends in Gaston County NC Rental Vacancy Rate
The rental vacancy rate in Gaston County peaked in 2006 at 18.38%. Since then it has fallen by 10.34% to 8.04%. Data records for this series originated in 2005. From a 2007 post peak low of 2.63%, the rental vacancy rate has increased by 5.41%.
Rental Vacancy Rate: Gaston County NC, North Carolina, US
Historical Rental Vacancy Rate data for Gaston County
| Date | US | North Carolina | Gaston County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 8.04% |
| 2018 | 6.15% | 7.03% | 7.34% |
| 2017 | 6.18% | 6.77% | 7.79% |
| 2016 | 5.89% | 6.99% | — |
| 2015 | 5.85% | 7.02% | 5.01% |
| 2014 | 6.32% | 7.29% | 9.75% |
| 2013 | 6.49% | 7.46% | 8.99% |
| 2012 | 6.77% | 8.00% | — |
| 2011 | 7.40% | 9.31% | — |
| 2010 | 8.17% | 9.97% | 6.35% |
| 2009 | 8.43% | 10.10% | 13.83% |
| 2007 | 7.87% | 9.26% | 2.63% |
| 2005 | 7.74% | 9.99% | 8.99% |
Rent as a Fraction of Income
Using median household income data for Gaston County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Gaston County, median monthly gross rent as a fraction of median household income was 17.49% in 2019 according to the ACS.
Gaston 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% |
| Gaston County NC | 17.49% | -2.10% | -1.33% |
Trends in Gaston County NC Rent as a Fraction of Income
The fraction of median Gaston County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.95%. Since then it has fallen by 3.46% to 17.49%.
Fraction of Income towards Rent: Gaston County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Gaston County North Carolina
| Date | US | North Carolina | Gaston County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 17.49% |
| 2018 | 20.50% | 20.05% | 19.59% |
| 2017 | 20.13% | 19.59% | 18.70% |
| 2016 | 20.43% | 19.90% | 18.82% |
| 2015 | 20.63% | 20.75% | 20.56% |
| 2014 | 20.89% | 20.70% | 20.95% |
| 2013 | 20.78% | 20.34% | 20.25% |
| 2012 | 20.65% | 20.09% | 20.66% |
| 2011 | 20.70% | 20.36% | 20.56% |
| 2010 | 20.50% | 20.25% | 20.40% |
| 2009 | 20.12% | 19.78% | 19.96% |
| 2007 | 18.66% | 18.21% | 18.85% |
| 2005 | 18.89% | 18.71% | 19.88% |
Renter Fraction in Gaston County North Carolina
You can calculate the renter fraction in Gaston 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 Gaston County as a fraction of total Gaston County households. In 2019 35.47% of households were renters according to Census ACS data.
Gaston 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% |
| Gaston County NC | 35.47% | +3.08% | -0.73% |
Trends in the Gaston County NC Renter Fraction
The Gaston County household renter fraction peaked in in 2017 at 37.07% and is now 1.60% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Gaston County NC, North Carolina, US
History of Gaston County Renter Fraction
| Date | US | North Carolina | Gaston County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 35.47% |
| 2018 | 36.05% | 34.86% | 32.39% |
| 2017 | 36.13% | 34.60% | 37.07% |
| 2016 | 36.88% | 35.78% | 36.20% |
| 2015 | 36.97% | 36.13% | 34.58% |
| 2014 | 36.90% | 35.75% | 33.35% |
| 2013 | 36.50% | 35.74% | 35.71% |
| 2012 | 36.09% | 34.56% | 32.14% |
| 2011 | 35.42% | 33.49% | 31.67% |
| 2010 | 34.65% | 32.83% | 33.21% |
| 2009 | 34.13% | 32.81% | 32.85% |
| 2007 | 32.80% | 31.70% | 32.01% |
| 2005 | 33.10% | 31.81% | 31.27% |
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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