Rockingham County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Rockingham County NC was $679 in 2019 according to the Census ACS survey.1 Average gross rent in Rockingham County was $623 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 Rockingham County median and average rent data will be released in September of 2021.
Data is also available below for Rockingham County rental vacancy rates, Rockingham County rent as a percent of median income and the fraction of renters in Rockingham County.
Real Gross Rent in Rockingham 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% |
| Rockingham County NC Median Gross Rent | $679 | +3.98% | +3.66% |
Rockingham County NC Real Gross Rent Trends
Median gross rent for Rockingham County peaked in real terms in 2015 at $693 and is now $14 (2.02%) lower. Average gross rent for Rockingham County peaked in real terms in 2005 at $650 and is now $27 (4.15%) lower. From a recent low of 515.0 in 2007, real average gross rent has now increased by $108 (20.97%).
Real Gross Rent: Rockingham County NC Median, Rockingham County NC Average, North Carolina Median, US Median
Real Gross Rent History for Rockingham County
| Date | US Median |
North Carolina Median |
Rockingham County NC Median |
Rockingham County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $679 | $623 |
| 2018 | $1,077 | $916 | $653 | $597 |
| 2017 | $1,043 | $888 | $675 | $641 |
| 2016 | $1,027 | $879 | $655 | $600 |
| 2015 | $1,017 | $877 | $693 | $591 |
| 2014 | $986 | $848 | $661 | $602 |
| 2013 | $953 | $819 | $600 | $554 |
| 2012 | $940 | $804 | $628 | $551 |
| 2011 | $941 | $805 | $655 | $556 |
| 2010 | $955 | $817 | $653 | $602 |
| 2009 | $960 | $821 | $621 | $565 |
| 2007 | $927 | $797 | $599 | $515 |
| 2005 | $910 | $794 | $678 | $650 |
Rockingham 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 Rockingham County North Carolina was 2.81% according to Census ACS data.
Rental Vacancy Rate in Rockingham 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% |
| Rockingham County NC | — | — | — |
Trends in Rockingham County NC Rental Vacancy Rate
The rental vacancy rate in Rockingham County peaked in 2008 at 15.32%. Since then it has fallen by 12.51% to 2.81%. Data records for this series originated in 2005.
Rental Vacancy Rate: Rockingham County NC, North Carolina, US
Historical Rental Vacancy Rate data for Rockingham County
| Date | US | North Carolina | Rockingham County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | 2.81% |
| 2017 | 6.18% | 6.77% | — |
| 2016 | 5.89% | 6.99% | — |
| 2015 | 5.85% | 7.02% | 7.54% |
| 2014 | 6.32% | 7.29% | 8.48% |
| 2013 | 6.49% | 7.46% | 12.13% |
| 2012 | 6.77% | 8.00% | 6.24% |
| 2011 | 7.40% | 9.31% | 9.65% |
| 2010 | 8.17% | 9.97% | 12.87% |
| 2009 | 8.43% | 10.10% | 12.72% |
| 2007 | 7.87% | 9.26% | 12.71% |
| 2005 | 7.74% | 9.99% | 12.34% |
Rent as a Fraction of Income
Using median household income data for Rockingham County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rockingham County, median monthly gross rent as a fraction of median household income was 18.85% in 2019 according to the ACS.
Rockingham 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% |
| Rockingham County NC | 18.85% | -0.06% | +0.52% |
Trends in Rockingham County NC Rent as a Fraction of Income
The fraction of median Rockingham County household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 20.49%. Since then it has fallen by 1.64% to 18.85%.
Fraction of Income towards Rent: Rockingham County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Rockingham County North Carolina
| Date | US | North Carolina | Rockingham County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 18.85% |
| 2018 | 20.50% | 20.05% | 18.90% |
| 2017 | 20.13% | 19.59% | 16.31% |
| 2016 | 20.43% | 19.90% | 18.33% |
| 2015 | 20.63% | 20.75% | 20.49% |
| 2014 | 20.89% | 20.70% | 19.32% |
| 2013 | 20.78% | 20.34% | 16.55% |
| 2012 | 20.65% | 20.09% | 19.74% |
| 2011 | 20.70% | 20.36% | 20.30% |
| 2010 | 20.50% | 20.25% | 18.53% |
| 2009 | 20.12% | 19.78% | 18.65% |
| 2007 | 18.66% | 18.21% | 15.57% |
| 2005 | 18.89% | 18.71% | 18.66% |
Renter Fraction in Rockingham County North Carolina
You can calculate the renter fraction in Rockingham 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 Rockingham County as a fraction of total Rockingham County households. In 2019 30.96% of households were renters according to Census ACS data.
Rockingham 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% |
| Rockingham County NC | 30.96% | +1.66% | -3.69% |
Trends in the Rockingham County NC Renter Fraction
The Rockingham County household renter fraction peaked in in 2016 at 34.65% and is now 3.69% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Rockingham County NC, North Carolina, US
History of Rockingham County Renter Fraction
| Date | US | North Carolina | Rockingham County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 30.96% |
| 2018 | 36.05% | 34.86% | 29.30% |
| 2017 | 36.13% | 34.60% | 28.37% |
| 2016 | 36.88% | 35.78% | 34.65% |
| 2015 | 36.97% | 36.13% | 32.65% |
| 2014 | 36.90% | 35.75% | 31.49% |
| 2013 | 36.50% | 35.74% | 33.60% |
| 2012 | 36.09% | 34.56% | 29.00% |
| 2011 | 35.42% | 33.49% | 28.60% |
| 2010 | 34.65% | 32.83% | 27.35% |
| 2009 | 34.13% | 32.81% | 27.59% |
| 2007 | 32.80% | 31.70% | 28.64% |
| 2005 | 33.10% | 31.81% | 30.82% |
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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