Nash County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Nash County NC was $795 in 2019 according to the Census ACS survey.1 Average gross rent in Nash County was $672 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 Nash County median and average rent data will be released in September of 2021.
Data is also available below for Nash County rental vacancy rates, Nash County rent as a percent of median income and the fraction of renters in Nash County.
Real Gross Rent in Nash 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% |
| Nash County NC Median Gross Rent | $795 | -0.38% | +12.29% |
Nash County NC Real Gross Rent Trends
Median gross rent for Nash County peaked in real terms in 2017 at $857 and is now $62 (7.23%) lower. Average gross rent for Nash County peaked in real terms in 2011 at $795 and is now $123 (15.47%) lower. From a recent low of 625.0 in 2016, real average gross rent has now increased by $47 (7.52%).
Real Gross Rent: Nash County NC Median, Nash County NC Average, North Carolina Median, US Median
Real Gross Rent History for Nash County
| Date | US Median |
North Carolina Median |
Nash County NC Median |
Nash County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $795 | $672 |
| 2018 | $1,077 | $916 | $798 | $776 |
| 2017 | $1,043 | $888 | $857 | $749 |
| 2016 | $1,027 | $879 | $708 | $625 |
| 2015 | $1,017 | $877 | $796 | $710 |
| 2014 | $986 | $848 | $749 | $645 |
| 2013 | $953 | $819 | $693 | $684 |
| 2012 | $940 | $804 | $736 | $714 |
| 2011 | $941 | $805 | $829 | $795 |
| 2010 | $955 | $817 | $817 | $755 |
| 2009 | $960 | $821 | $799 | $694 |
| 2007 | $927 | $797 | $725 | $706 |
| 2005 | $910 | $794 | $678 | $641 |
Nash County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Nash County North Carolina was 8.31% according to Census ACS data.
Rental Vacancy Rate in Nash 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% |
| Nash County NC | — | — | — |
Trends in Nash County NC Rental Vacancy Rate
The rental vacancy rate in Nash County peaked in 2012 at 14.33%. Since then it has fallen by 6.02% to 8.31%. Data records for this series originated in 2005.
Rental Vacancy Rate: Nash County NC, North Carolina, US
Historical Rental Vacancy Rate data for Nash County
| Date | US | North Carolina | Nash County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | — |
| 2017 | 6.18% | 6.77% | — |
| 2016 | 5.89% | 6.99% | 8.31% |
| 2015 | 5.85% | 7.02% | — |
| 2014 | 6.32% | 7.29% | — |
| 2013 | 6.49% | 7.46% | 5.42% |
| 2012 | 6.77% | 8.00% | 14.33% |
| 2011 | 7.40% | 9.31% | 5.06% |
| 2010 | 8.17% | 9.97% | — |
| 2009 | 8.43% | 10.10% | 8.01% |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | 10.28% |
Rent as a Fraction of Income
Using median household income data for Nash County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Nash County, median monthly gross rent as a fraction of median household income was 18.83% in 2019 according to the ACS.
Nash 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% |
| Nash County NC | 18.83% | +0.60% | +1.90% |
Trends in Nash County NC Rent as a Fraction of Income
The fraction of median Nash County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 21.60%. Since then it has fallen by 2.77% to 18.83%.
Fraction of Income towards Rent: Nash County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Nash County North Carolina
| Date | US | North Carolina | Nash County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 18.83% |
| 2018 | 20.50% | 20.05% | 18.23% |
| 2017 | 20.13% | 19.59% | 21.09% |
| 2016 | 20.43% | 19.90% | 16.93% |
| 2015 | 20.63% | 20.75% | 21.07% |
| 2014 | 20.89% | 20.70% | 19.69% |
| 2013 | 20.78% | 20.34% | 19.71% |
| 2012 | 20.65% | 20.09% | 20.78% |
| 2011 | 20.70% | 20.36% | 20.82% |
| 2010 | 20.50% | 20.25% | 20.42% |
| 2009 | 20.12% | 19.78% | 21.60% |
| 2007 | 18.66% | 18.21% | 16.16% |
| 2005 | 18.89% | 18.71% | 16.70% |
Renter Fraction in Nash County North Carolina
You can calculate the renter fraction in Nash 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 Nash County as a fraction of total Nash County households. In 2019 36.02% of households were renters according to Census ACS data.
Nash 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% |
| Nash County NC | 36.02% | +3.88% | -1.17% |
Trends in the Nash County NC Renter Fraction
The Nash County household renter fraction peaked in in 2017 at 37.43% and is now 1.41% below that level. From a recent low of 32.14% in 2018, the household based renter fraction has now grown by 3.88%. The origin year for the series is 2005.
Fraction of Renting Households: Nash County NC, North Carolina, US
History of Nash County Renter Fraction
| Date | US | North Carolina | Nash County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 36.02% |
| 2018 | 36.05% | 34.86% | 32.14% |
| 2017 | 36.13% | 34.60% | 37.43% |
| 2016 | 36.88% | 35.78% | 37.19% |
| 2015 | 36.97% | 36.13% | 36.40% |
| 2014 | 36.90% | 35.75% | 33.81% |
| 2013 | 36.50% | 35.74% | 36.74% |
| 2012 | 36.09% | 34.56% | 34.55% |
| 2011 | 35.42% | 33.49% | 35.72% |
| 2010 | 34.65% | 32.83% | 35.92% |
| 2009 | 34.13% | 32.81% | 36.55% |
| 2007 | 32.80% | 31.70% | 35.51% |
| 2005 | 33.10% | 31.81% | 37.14% |
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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