Moore County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Moore County NC was $975 in 2019 according to the Census ACS survey.1 Average gross rent in Moore County was $1,003 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 Moore County median and average rent data will be released in September of 2021.
Data is also available below for Moore County rental vacancy rates, Moore County rent as a percent of median income and the fraction of renters in Moore County.
Real Gross Rent in Moore 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% |
| Moore County NC Median Gross Rent | $975 | +20.22% | +18.47% |
Moore County NC Real Gross Rent Trends
At $975, real median gross rent in Moore County was at its highest level in 2019 since the series began in 2005. Average gross rent for Moore County peaked in real terms in 2017 at $1,071 and is now $68 (6.35%) lower.
Real Gross Rent: Moore County NC Median, Moore County NC Average, North Carolina Median, US Median
Real Gross Rent History for Moore County
| Date | US Median |
North Carolina Median |
Moore County NC Median |
Moore County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $975 | $1,003 |
| 2018 | $1,077 | $916 | $811 | $831 |
| 2017 | $1,043 | $888 | $901 | $1,071 |
| 2016 | $1,027 | $879 | $823 | $985 |
| 2015 | $1,017 | $877 | $873 | $1,041 |
| 2014 | $986 | $848 | $812 | $933 |
| 2013 | $953 | $819 | $842 | $869 |
| 2012 | $940 | $804 | $723 | $713 |
| 2011 | $941 | $805 | $725 | $791 |
| 2010 | $955 | $817 | $705 | $733 |
| 2009 | $960 | $821 | $732 | $715 |
| 2007 | $927 | $797 | $770 | $794 |
| 2005 | $910 | $794 | $715 | $746 |
Moore 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 Moore County North Carolina was 6.84% according to Census ACS data.
Rental Vacancy Rate in Moore 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% |
| Moore County NC | — | — | — |
Trends in Moore County NC Rental Vacancy Rate
The rental vacancy rate in Moore County peaked in 2007 at 29.77%. Since then it has fallen by 22.93% to 6.84%. Data records for this series originated in 2005. From a 2015 post peak low of 5.10%, the rental vacancy rate has increased by 1.74%.
Rental Vacancy Rate: Moore County NC, North Carolina, US
Historical Rental Vacancy Rate data for Moore County
| Date | US | North Carolina | Moore County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | 6.84% |
| 2017 | 6.18% | 6.77% | 12.40% |
| 2016 | 5.89% | 6.99% | 11.07% |
| 2015 | 5.85% | 7.02% | 5.10% |
| 2014 | 6.32% | 7.29% | 11.77% |
| 2013 | 6.49% | 7.46% | — |
| 2012 | 6.77% | 8.00% | 17.93% |
| 2011 | 7.40% | 9.31% | — |
| 2010 | 8.17% | 9.97% | 7.65% |
| 2009 | 8.43% | 10.10% | — |
| 2007 | 7.87% | 9.26% | 29.77% |
| 2005 | 7.74% | 9.99% | — |
Rent as a Fraction of Income
Using median household income data for Moore County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Moore County, median monthly gross rent as a fraction of median household income was 18.73% in 2019 according to the ACS.
Moore 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% |
| Moore County NC | 18.73% | +2.39% | +0.69% |
Trends in Moore County NC Rent as a Fraction of Income
The fraction of median Moore County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 19.22%. Since then it has fallen by 0.49% to 18.73%.
Fraction of Income towards Rent: Moore County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Moore County North Carolina
| Date | US | North Carolina | Moore County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 18.73% |
| 2018 | 20.50% | 20.05% | 16.34% |
| 2017 | 20.13% | 19.59% | 16.34% |
| 2016 | 20.43% | 19.90% | 18.04% |
| 2015 | 20.63% | 20.75% | 19.16% |
| 2014 | 20.89% | 20.70% | 17.98% |
| 2013 | 20.78% | 20.34% | 19.22% |
| 2012 | 20.65% | 20.09% | 16.40% |
| 2011 | 20.70% | 20.36% | 17.83% |
| 2010 | 20.50% | 20.25% | 15.88% |
| 2009 | 20.12% | 19.78% | 17.05% |
| 2007 | 18.66% | 18.21% | 15.31% |
| 2005 | 18.89% | 18.71% | 18.33% |
Renter Fraction in Moore County North Carolina
You can calculate the renter fraction in Moore 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 Moore County as a fraction of total Moore County households. In 2019 25.49% of households were renters according to Census ACS data.
Moore 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% |
| Moore County NC | 25.49% | +2.12% | +0.55% |
Trends in the Moore County NC Renter Fraction
The Moore County household renter fraction peaked in in 2015 at 28.53% and is now 3.04% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Moore County NC, North Carolina, US
History of Moore County Renter Fraction
| Date | US | North Carolina | Moore County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 25.49% |
| 2018 | 36.05% | 34.86% | 23.37% |
| 2017 | 36.13% | 34.60% | 26.64% |
| 2016 | 36.88% | 35.78% | 24.94% |
| 2015 | 36.97% | 36.13% | 28.53% |
| 2014 | 36.90% | 35.75% | 24.81% |
| 2013 | 36.50% | 35.74% | 25.68% |
| 2012 | 36.09% | 34.56% | 24.09% |
| 2011 | 35.42% | 33.49% | 24.16% |
| 2010 | 34.65% | 32.83% | 26.28% |
| 2009 | 34.13% | 32.81% | 28.06% |
| 2007 | 32.80% | 31.70% | 19.38% |
| 2005 | 33.10% | 31.81% | 25.52% |
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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