Rocky Mount North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Rocky Mount, NC (the Rocky Mount metro area) was $783 in 2019 according to the Census ACS survey.1 Average gross rent in Rocky Mount was $667 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 Rocky Mount median and average rent data will be released in September of 2021.
Data is also available below for Rocky Mount rental vacancy rates, Rocky Mount rent as a percent of median income and the fraction of renters in Rocky Mount.
Real Gross Rent in Rocky Mount 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% |
| Rocky Mount, NC Median Gross Rent | $783 | +1.16% | +12.34% |
Rocky Mount, NC Real Gross Rent Trends
Median gross rent for Rocky Mount peaked in real terms in 2011 at $791 and is now $8 (1.01%) lower. Average gross rent for Rocky Mount peaked in real terms in 2011 at $745 and is now $78 (10.47%) lower.
Real Gross Rent in Rocky Mount: Rocky Mount NC Median, Rocky Mount NC Average, North Carolina Median, US Median
Real Gross Rent History for Rocky Mount
| Date | US Median |
North Carolina Median |
Rocky Mount, NC Median |
Rocky Mount, NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $783 | $667 |
| 2018 | $1,077 | $916 | $774 | $727 |
| 2017 | $1,043 | $888 | $765 | $694 |
| 2016 | $1,027 | $879 | $697 | $638 |
| 2015 | $1,017 | $877 | $730 | $657 |
| 2014 | $986 | $848 | $717 | $648 |
| 2013 | $953 | $819 | $693 | $669 |
| 2012 | $940 | $804 | $693 | $669 |
| 2011 | $941 | $805 | $791 | $745 |
| 2010 | $955 | $817 | $789 | $717 |
| 2009 | $960 | $821 | $758 | $700 |
| 2007 | $927 | $797 | $714 | $658 |
| 2005 | $910 | $794 | $671 | $645 |
Rocky Mount 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 Rocky Mount North Carolina was 4.47% according to Census ACS data.
Rental Vacancy Rate in Rocky Mount North Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| North Carolina | 6.60% | -0.43% | -0.39% |
| Rocky Mount, NC | 4.47% | +1.53% | -2.71% |
Trends in Rocky Mount, NC Rental Vacancy Rate
The rental vacancy rate in Rocky Mount peaked in 2012 at 15.50%. Since then it has fallen by 11.03% to 4.47%. Data records for this series originated in 2005. From a 2018 post peak low of 2.94%, the rental vacancy rate has increased by 1.53%.
Rental Vacancy Rate: Rocky Mount NC, North Carolina, US
Historical Rental Vacancy Rate data for Rocky Mount
| Date | US | North Carolina | Rocky Mount, NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 4.47% |
| 2018 | 6.15% | 7.03% | 2.94% |
| 2017 | 6.18% | 6.77% | — |
| 2016 | 5.89% | 6.99% | 7.18% |
| 2015 | 5.85% | 7.02% | 5.02% |
| 2014 | 6.32% | 7.29% | 6.93% |
| 2013 | 6.49% | 7.46% | 7.12% |
| 2012 | 6.77% | 8.00% | 15.50% |
| 2011 | 7.40% | 9.31% | 5.67% |
| 2010 | 8.17% | 9.97% | 6.66% |
| 2009 | 8.43% | 10.10% | 7.48% |
| 2007 | 7.87% | 9.26% | 5.49% |
| 2005 | 7.74% | 9.99% | 11.54% |
Rent as a Fraction of Income
Using median household income data for Rocky Mount, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rocky Mount, median monthly gross rent as a fraction of median household income was 20.22% in 2019 according to the ACS.
Rocky Mount 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% |
| Rocky Mount, NC | 20.22% | +0.71% | -0.29% |
Trends in Rocky Mount, NC Rent as a Fraction of Income
The fraction of median Rocky Mount household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.25%. Since then it has fallen by 2.03% to 20.22%.
Fraction of Income towards Rent: Rocky Mount NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Rocky Mount North Carolina
| Date | US | North Carolina | Rocky Mount, NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 20.22% |
| 2018 | 20.50% | 20.05% | 19.52% |
| 2017 | 20.13% | 19.59% | 20.81% |
| 2016 | 20.43% | 19.90% | 20.51% |
| 2015 | 20.63% | 20.75% | 22.12% |
| 2014 | 20.89% | 20.70% | 20.16% |
| 2013 | 20.78% | 20.34% | 21.37% |
| 2012 | 20.65% | 20.09% | 20.93% |
| 2011 | 20.70% | 20.36% | 22.09% |
| 2010 | 20.50% | 20.25% | 22.25% |
| 2009 | 20.12% | 19.78% | 21.91% |
| 2007 | 18.66% | 18.21% | 17.78% |
| 2005 | 18.89% | 18.71% | 19.03% |
Renter Fraction in Rocky Mount North Carolina
You can calculate the renter fraction in Rocky Mount 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 Rocky Mount as a fraction of total Rocky Mount households. In 2019 37.23% of households were renters according to Census ACS data.
Rocky Mount 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% |
| Rocky Mount, NC | 37.23% | +3.22% | -1.50% |
Trends in the Rocky Mount, NC Renter Fraction
The Rocky Mount household renter fraction peaked in in 2017 at 39.73% and is now 2.50% below that level. From a recent low of 34.01% in 2018, the household based renter fraction has now grown by 3.22%. The origin year for the series is 2005.
Fraction of Renting Households: Rocky Mount NC, North Carolina, US
History of Rocky Mount Renter Fraction
| Date | US | North Carolina | Rocky Mount, NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 37.23% |
| 2018 | 36.05% | 34.86% | 34.01% |
| 2017 | 36.13% | 34.60% | 39.73% |
| 2016 | 36.88% | 35.78% | 38.73% |
| 2015 | 36.97% | 36.13% | 39.34% |
| 2014 | 36.90% | 35.75% | 36.71% |
| 2013 | 36.50% | 35.74% | 37.37% |
| 2012 | 36.09% | 34.56% | 35.22% |
| 2011 | 35.42% | 33.49% | 37.37% |
| 2010 | 34.65% | 32.83% | 36.03% |
| 2009 | 34.13% | 32.81% | 38.11% |
| 2007 | 32.80% | 31.70% | 36.95% |
| 2005 | 33.10% | 31.81% | 38.47% |
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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