Wayne County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Wayne County NC was $798 in 2019 according to the Census ACS survey.1 Average gross rent in Wayne County was $770 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 Wayne County median and average rent data will be released in September of 2021.
Data is also available below for Wayne County rental vacancy rates, Wayne County rent as a percent of median income and the fraction of renters in Wayne County.
Real Gross Rent in Wayne 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% |
| Wayne County NC Median Gross Rent | $798 | +1.40% | +0.25% |
Wayne County NC Real Gross Rent Trends
At $798, real median gross rent in Wayne County was at its highest level in 2019 since the series began in 2005. At $770, real average gross rent in Wayne County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Wayne County NC Median, Wayne County NC Average, North Carolina Median, US Median
Real Gross Rent History for Wayne County
| Date | US Median |
North Carolina Median |
Wayne County NC Median |
Wayne County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $798 | $770 |
| 2018 | $1,077 | $916 | $787 | $735 |
| 2017 | $1,043 | $888 | $762 | $689 |
| 2016 | $1,027 | $879 | $796 | $729 |
| 2015 | $1,017 | $877 | $762 | $749 |
| 2014 | $986 | $848 | $742 | $684 |
| 2013 | $953 | $819 | $793 | $753 |
| 2012 | $940 | $804 | $668 | $629 |
| 2011 | $941 | $805 | $728 | $683 |
| 2010 | $955 | $817 | $694 | $663 |
| 2009 | $960 | $821 | $734 | $646 |
| 2007 | $927 | $797 | $693 | $594 |
| 2005 | $910 | $794 | $684 | $588 |
Wayne 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 Wayne County North Carolina was 2.53% according to Census ACS data.
Rental Vacancy Rate in Wayne 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% |
| Wayne County NC | 2.53% | — | +0.08% |
Trends in Wayne County NC Rental Vacancy Rate
The rental vacancy rate in Wayne County peaked in 2006 at 15.74%. Since then it has fallen by 13.21% to 2.53%. Data records for this series originated in 2005. From a 2016 post peak low of 2.45%, the rental vacancy rate has increased by 0.08%.
Rental Vacancy Rate: Wayne County NC, North Carolina, US
Historical Rental Vacancy Rate data for Wayne County
| Date | US | North Carolina | Wayne County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 2.53% |
| 2018 | 6.15% | 7.03% | — |
| 2017 | 6.18% | 6.77% | 5.75% |
| 2016 | 5.89% | 6.99% | 2.45% |
| 2015 | 5.85% | 7.02% | 5.92% |
| 2014 | 6.32% | 7.29% | 4.83% |
| 2013 | 6.49% | 7.46% | 6.01% |
| 2012 | 6.77% | 8.00% | 5.51% |
| 2011 | 7.40% | 9.31% | — |
| 2010 | 8.17% | 9.97% | 6.68% |
| 2009 | 8.43% | 10.10% | 5.70% |
| 2007 | 7.87% | 9.26% | 10.52% |
| 2005 | 7.74% | 9.99% | 9.41% |
Rent as a Fraction of Income
Using median household income data for Wayne County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wayne County, median monthly gross rent as a fraction of median household income was 21.47% in 2019 according to the ACS.
Wayne 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% |
| Wayne County NC | 21.47% | -1.27% | -0.39% |
Trends in Wayne County NC Rent as a Fraction of Income
The fraction of median Wayne County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 23.46%. Since then it has fallen by 1.98% to 21.47%.
Fraction of Income towards Rent: Wayne County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Wayne County North Carolina
| Date | US | North Carolina | Wayne County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 21.47% |
| 2018 | 20.50% | 20.05% | 22.74% |
| 2017 | 20.13% | 19.59% | 20.00% |
| 2016 | 20.43% | 19.90% | 21.86% |
| 2015 | 20.63% | 20.75% | 21.35% |
| 2014 | 20.89% | 20.70% | 23.46% |
| 2013 | 20.78% | 20.34% | 21.42% |
| 2012 | 20.65% | 20.09% | 19.88% |
| 2011 | 20.70% | 20.36% | 20.69% |
| 2010 | 20.50% | 20.25% | 18.27% |
| 2009 | 20.12% | 19.78% | 18.87% |
| 2007 | 18.66% | 18.21% | 17.65% |
| 2005 | 18.89% | 18.71% | 18.27% |
Renter Fraction in Wayne County North Carolina
You can calculate the renter fraction in Wayne 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 Wayne County as a fraction of total Wayne County households. In 2019 39.12% of households were renters according to Census ACS data.
Wayne 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% |
| Wayne County NC | 39.12% | +0.69% | -2.40% |
Trends in the Wayne County NC Renter Fraction
The Wayne County household renter fraction peaked in in 2013 at 43.70% and is now 4.58% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Wayne County NC, North Carolina, US
History of Wayne County Renter Fraction
| Date | US | North Carolina | Wayne County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 39.12% |
| 2018 | 36.05% | 34.86% | 38.43% |
| 2017 | 36.13% | 34.60% | 34.39% |
| 2016 | 36.88% | 35.78% | 41.52% |
| 2015 | 36.97% | 36.13% | 38.47% |
| 2014 | 36.90% | 35.75% | 42.07% |
| 2013 | 36.50% | 35.74% | 43.70% |
| 2012 | 36.09% | 34.56% | 40.71% |
| 2011 | 35.42% | 33.49% | 38.77% |
| 2010 | 34.65% | 32.83% | 36.98% |
| 2009 | 34.13% | 32.81% | 40.44% |
| 2007 | 32.80% | 31.70% | 34.03% |
| 2005 | 33.10% | 31.81% | 35.53% |
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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