Henderson County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Henderson County NC was $854 in 2019 according to the Census ACS survey.1 Average gross rent in Henderson County was $836 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 Henderson County median and average rent data will be released in September of 2021.
Data is also available below for Henderson County rental vacancy rates, Henderson County rent as a percent of median income and the fraction of renters in Henderson County.
Real Gross Rent in Henderson 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% |
| Henderson County NC Median Gross Rent | $854 | +15.72% | -4.79% |
Henderson County NC Real Gross Rent Trends
Median gross rent for Henderson County peaked in real terms in 2017 at $923 and is now $69 (7.48%) lower. Average gross rent for Henderson County peaked in real terms in 2017 at $986 and is now $150 (15.21%) lower.
Real Gross Rent: Henderson County NC Median, Henderson County NC Average, North Carolina Median, US Median
Real Gross Rent History for Henderson County
| Date | US Median |
North Carolina Median |
Henderson County NC Median |
Henderson County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $854 | $836 |
| 2018 | $1,077 | $916 | $738 | $819 |
| 2017 | $1,043 | $888 | $923 | $986 |
| 2016 | $1,027 | $879 | $897 | $926 |
| 2015 | $1,017 | $877 | $733 | $751 |
| 2014 | $986 | $848 | $811 | $889 |
| 2013 | $953 | $819 | $791 | $813 |
| 2012 | $940 | $804 | $832 | $823 |
| 2011 | $941 | $805 | $768 | $784 |
| 2010 | $955 | $817 | $742 | $826 |
| 2009 | $960 | $821 | $829 | $770 |
| 2007 | $927 | $797 | $766 | $838 |
| 2005 | $910 | $794 | $726 | $721 |
Henderson 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 Henderson County North Carolina was 4.49% according to Census ACS data.
Rental Vacancy Rate in Henderson 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% |
| Henderson County NC | — | — | — |
Trends in Henderson County NC Rental Vacancy Rate
The rental vacancy rate in Henderson County peaked in 2009 at 10.93%. Since then it has fallen by 6.44% to 4.49%. Data records for this series originated in 2005. From a 2015 post peak low of 1.71%, the rental vacancy rate has increased by 2.78%.
Rental Vacancy Rate: Henderson County NC, North Carolina, US
Historical Rental Vacancy Rate data for Henderson County
| Date | US | North Carolina | Henderson County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | 4.49% |
| 2017 | 6.18% | 6.77% | 4.15% |
| 2016 | 5.89% | 6.99% | 2.76% |
| 2015 | 5.85% | 7.02% | 1.71% |
| 2014 | 6.32% | 7.29% | 1.78% |
| 2013 | 6.49% | 7.46% | 3.80% |
| 2012 | 6.77% | 8.00% | — |
| 2011 | 7.40% | 9.31% | 10.06% |
| 2010 | 8.17% | 9.97% | 8.29% |
| 2009 | 8.43% | 10.10% | 10.93% |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | 10.41% |
Rent as a Fraction of Income
Using median household income data for Henderson County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Henderson County, median monthly gross rent as a fraction of median household income was 16.49% in 2019 according to the ACS.
Henderson 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% |
| Henderson County NC | 16.49% | +0.29% | -2.22% |
Trends in Henderson County NC Rent as a Fraction of Income
The fraction of median Henderson County household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 21.03%. Since then it has fallen by 4.53% to 16.49%. From a 2018 low of 16.20%, the fraction of income going to rent has increased by 0.29%.
Fraction of Income towards Rent: Henderson County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Henderson County North Carolina
| Date | US | North Carolina | Henderson County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 16.49% |
| 2018 | 20.50% | 20.05% | 16.20% |
| 2017 | 20.13% | 19.59% | 21.03% |
| 2016 | 20.43% | 19.90% | 18.71% |
| 2015 | 20.63% | 20.75% | 17.63% |
| 2014 | 20.89% | 20.70% | 19.47% |
| 2013 | 20.78% | 20.34% | 20.47% |
| 2012 | 20.65% | 20.09% | 20.82% |
| 2011 | 20.70% | 20.36% | 18.24% |
| 2010 | 20.50% | 20.25% | 18.49% |
| 2009 | 20.12% | 19.78% | 20.38% |
| 2007 | 18.66% | 18.21% | 16.35% |
| 2005 | 18.89% | 18.71% | 18.83% |
Renter Fraction in Henderson County North Carolina
You can calculate the renter fraction in Henderson 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 Henderson County as a fraction of total Henderson County households. In 2019 27.13% of households were renters according to Census ACS data.
Henderson 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% |
| Henderson County NC | 27.13% | +1.12% | +2.43% |
Trends in the Henderson County NC Renter Fraction
The Henderson County household renter fraction peaked in in 2015 at 30.63% and is now 3.50% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Henderson County NC, North Carolina, US
History of Henderson County Renter Fraction
| Date | US | North Carolina | Henderson County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 27.13% |
| 2018 | 36.05% | 34.86% | 26.01% |
| 2017 | 36.13% | 34.60% | 25.42% |
| 2016 | 36.88% | 35.78% | 24.70% |
| 2015 | 36.97% | 36.13% | 30.63% |
| 2014 | 36.90% | 35.75% | 30.24% |
| 2013 | 36.50% | 35.74% | 30.19% |
| 2012 | 36.09% | 34.56% | 25.66% |
| 2011 | 35.42% | 33.49% | 26.64% |
| 2010 | 34.65% | 32.83% | 23.48% |
| 2009 | 34.13% | 32.81% | 25.71% |
| 2007 | 32.80% | 31.70% | 22.80% |
| 2005 | 33.10% | 31.81% | 21.28% |
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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