Mecklenburg County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Mecklenburg County NC was $1,191 in 2019 according to the Census ACS survey.1 Average gross rent in Mecklenburg County was $1,220 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 Mecklenburg County median and average rent data will be released in September of 2021.
Data is also available below for Mecklenburg County rental vacancy rates, Mecklenburg County rent as a percent of median income and the fraction of renters in Mecklenburg County.
Real Gross Rent in Mecklenburg 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% |
| Mecklenburg County NC Median Gross Rent | $1,191 | +0.68% | +7.39% |
Mecklenburg County NC Real Gross Rent Trends
At $1,191, real median gross rent in Mecklenburg County was at its highest level in 2019 since the series began in 2005. At $1,220, real average gross rent in Mecklenburg County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Mecklenburg County NC Median, Mecklenburg County NC Average, North Carolina Median, US Median
Real Gross Rent History for Mecklenburg County
| Date | US Median |
North Carolina Median |
Mecklenburg County NC Median |
Mecklenburg County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $1,191 | $1,220 |
| 2018 | $1,077 | $916 | $1,183 | $1,205 |
| 2017 | $1,043 | $888 | $1,133 | $1,154 |
| 2016 | $1,027 | $879 | $1,109 | $1,129 |
| 2015 | $1,017 | $877 | $1,052 | $1,087 |
| 2014 | $986 | $848 | $1,010 | $1,060 |
| 2013 | $953 | $819 | $945 | $1,010 |
| 2012 | $940 | $804 | $935 | $991 |
| 2011 | $941 | $805 | $931 | $971 |
| 2010 | $955 | $817 | $922 | $973 |
| 2009 | $960 | $821 | $943 | $982 |
| 2007 | $927 | $797 | $930 | $954 |
| 2005 | $910 | $794 | $923 | $951 |
Mecklenburg 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 Mecklenburg County North Carolina was 7.86% according to Census ACS data.
Rental Vacancy Rate in Mecklenburg 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% |
| Mecklenburg County NC | 7.86% | -0.07% | +2.58% |
Trends in Mecklenburg County NC Rental Vacancy Rate
The rental vacancy rate in Mecklenburg County peaked in 2005 at 10.31%. Since then it has fallen by 2.45% to 7.86%. Data records for this series originated in 2005. From a 2014 post peak low of 4.01%, the rental vacancy rate has increased by 3.85%.
Rental Vacancy Rate: Mecklenburg County NC, North Carolina, US
Historical Rental Vacancy Rate data for Mecklenburg County
| Date | US | North Carolina | Mecklenburg County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 7.86% |
| 2018 | 6.15% | 7.03% | 7.93% |
| 2017 | 6.18% | 6.77% | 6.21% |
| 2016 | 5.89% | 6.99% | 5.28% |
| 2015 | 5.85% | 7.02% | 5.70% |
| 2014 | 6.32% | 7.29% | 4.01% |
| 2013 | 6.49% | 7.46% | 4.58% |
| 2012 | 6.77% | 8.00% | 6.57% |
| 2011 | 7.40% | 9.31% | 7.52% |
| 2010 | 8.17% | 9.97% | 8.69% |
| 2009 | 8.43% | 10.10% | 8.25% |
| 2007 | 7.87% | 9.26% | 9.13% |
| 2005 | 7.74% | 9.99% | 10.31% |
Rent as a Fraction of Income
Using median household income data for Mecklenburg County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Mecklenburg County, median monthly gross rent as a fraction of median household income was 20.69% in 2019 according to the ACS.
Mecklenburg 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% |
| Mecklenburg County NC | 20.69% | -1.11% | +0.51% |
Trends in Mecklenburg County NC Rent as a Fraction of Income
The fraction of median Mecklenburg County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 21.80%. Since then it has fallen by 1.11% to 20.69%.
Fraction of Income towards Rent: Mecklenburg County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Mecklenburg County North Carolina
| Date | US | North Carolina | Mecklenburg County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 20.69% |
| 2018 | 20.50% | 20.05% | 21.80% |
| 2017 | 20.13% | 19.59% | 20.11% |
| 2016 | 20.43% | 19.90% | 20.18% |
| 2015 | 20.63% | 20.75% | 20.93% |
| 2014 | 20.89% | 20.70% | 19.52% |
| 2013 | 20.78% | 20.34% | 19.83% |
| 2012 | 20.65% | 20.09% | 19.08% |
| 2011 | 20.70% | 20.36% | 19.92% |
| 2010 | 20.50% | 20.25% | 18.97% |
| 2009 | 20.12% | 19.78% | 18.77% |
| 2007 | 18.66% | 18.21% | 17.00% |
| 2005 | 18.89% | 18.71% | 17.64% |
Renter Fraction in Mecklenburg County North Carolina
You can calculate the renter fraction in Mecklenburg 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 Mecklenburg County as a fraction of total Mecklenburg County households. In 2019 44.03% of households were renters according to Census ACS data.
Mecklenburg 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% |
| Mecklenburg County NC | 44.03% | -0.10% | -0.19% |
Trends in the Mecklenburg County NC Renter Fraction
The Mecklenburg County household renter fraction peaked in in 2015 at 44.26% and is now 0.23% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Mecklenburg County NC, North Carolina, US
History of Mecklenburg County Renter Fraction
| Date | US | North Carolina | Mecklenburg County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 44.03% |
| 2018 | 36.05% | 34.86% | 44.13% |
| 2017 | 36.13% | 34.60% | 43.42% |
| 2016 | 36.88% | 35.78% | 44.22% |
| 2015 | 36.97% | 36.13% | 44.26% |
| 2014 | 36.90% | 35.75% | 43.39% |
| 2013 | 36.50% | 35.74% | 43.24% |
| 2012 | 36.09% | 34.56% | 41.86% |
| 2011 | 35.42% | 33.49% | 40.34% |
| 2010 | 34.65% | 32.83% | 38.60% |
| 2009 | 34.13% | 32.81% | 38.91% |
| 2007 | 32.80% | 31.70% | 36.62% |
| 2005 | 33.10% | 31.81% | 35.93% |
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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