Wilkes County North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Wilkes County NC was $660 in 2019 according to the Census ACS survey.1 Average gross rent in Wilkes County was $582 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 Wilkes County median and average rent data will be released in September of 2021.
Data is also available below for Wilkes County rental vacancy rates, Wilkes County rent as a percent of median income and the fraction of renters in Wilkes County.
Real Gross Rent in Wilkes 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% |
| Wilkes County NC Median Gross Rent | $660 | +5.10% | -11.05% |
Wilkes County NC Real Gross Rent Trends
Median gross rent for Wilkes County peaked in real terms in 2016 at $742 and is now $82 (11.05%) lower. Average gross rent for Wilkes County peaked in real terms in 2017 at $626 and is now $44 (7.03%) lower.
Real Gross Rent: Wilkes County NC Median, Wilkes County NC Average, North Carolina Median, US Median
Real Gross Rent History for Wilkes County
| Date | US Median |
North Carolina Median |
Wilkes County NC Median |
Wilkes County NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $660 | $582 |
| 2018 | $1,077 | $916 | $628 | $588 |
| 2017 | $1,043 | $888 | $602 | $626 |
| 2016 | $1,027 | $879 | $742 | $622 |
| 2015 | $1,017 | $877 | $580 | $542 |
| 2014 | $986 | $848 | $625 | $568 |
| 2013 | $953 | $819 | $597 | $510 |
| 2012 | $940 | $804 | $593 | $529 |
| 2011 | $941 | $805 | $648 | $607 |
| 2010 | $955 | $817 | $588 | $541 |
| 2009 | $960 | $821 | $543 | $478 |
| 2007 | $927 | $797 | $558 | $492 |
| 2005 | $910 | $794 | $613 | $559 |
Wilkes County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Wilkes County North Carolina was 12.54% according to Census ACS data.
Rental Vacancy Rate in Wilkes 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% |
| Wilkes County NC | — | — | — |
Trends in Wilkes County NC Rental Vacancy Rate
The rental vacancy rate in Wilkes County peaked in 2006 at 17.68%. Since then it has fallen by 5.14% to 12.54%. Data records for this series originated in 2005. From a 2012 post peak low of 9.05%, the rental vacancy rate has increased by 3.49%.
Rental Vacancy Rate: Wilkes County NC, North Carolina, US
Historical Rental Vacancy Rate data for Wilkes County
| Date | US | North Carolina | Wilkes County NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | — |
| 2018 | 6.15% | 7.03% | — |
| 2017 | 6.18% | 6.77% | — |
| 2016 | 5.89% | 6.99% | — |
| 2015 | 5.85% | 7.02% | 12.54% |
| 2014 | 6.32% | 7.29% | — |
| 2013 | 6.49% | 7.46% | 11.47% |
| 2012 | 6.77% | 8.00% | 9.05% |
| 2011 | 7.40% | 9.31% | — |
| 2010 | 8.17% | 9.97% | — |
| 2009 | 8.43% | 10.10% | — |
| 2007 | 7.87% | 9.26% | — |
| 2005 | 7.74% | 9.99% | 10.00% |
Rent as a Fraction of Income
Using median household income data for Wilkes County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wilkes County, median monthly gross rent as a fraction of median household income was 18.30% in 2019 according to the ACS.
Wilkes 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% |
| Wilkes County NC | 18.30% | +1.26% | -2.29% |
Trends in Wilkes County NC Rent as a Fraction of Income
The fraction of median Wilkes County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 23.86%. Since then it has fallen by 5.56% to 18.30%.
Fraction of Income towards Rent: Wilkes County NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Wilkes County North Carolina
| Date | US | North Carolina | Wilkes County NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 18.30% |
| 2018 | 20.50% | 20.05% | 17.03% |
| 2017 | 20.13% | 19.59% | 17.09% |
| 2016 | 20.43% | 19.90% | 20.58% |
| 2015 | 20.63% | 20.75% | 16.04% |
| 2014 | 20.89% | 20.70% | 23.11% |
| 2013 | 20.78% | 20.34% | 21.85% |
| 2012 | 20.65% | 20.09% | 20.24% |
| 2011 | 20.70% | 20.36% | 23.86% |
| 2010 | 20.50% | 20.25% | 19.81% |
| 2009 | 20.12% | 19.78% | 16.86% |
| 2007 | 18.66% | 18.21% | 15.96% |
| 2005 | 18.89% | 18.71% | 17.68% |
Renter Fraction in Wilkes County North Carolina
You can calculate the renter fraction in Wilkes 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 Wilkes County as a fraction of total Wilkes County households. In 2019 27.17% of households were renters according to Census ACS data.
Wilkes 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% |
| Wilkes County NC | 27.17% | +0.99% | +4.73% |
Trends in the Wilkes County NC Renter Fraction
The Wilkes County household renter fraction peaked in in 2014 at 31.47% and is now 4.30% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Wilkes County NC, North Carolina, US
History of Wilkes County Renter Fraction
| Date | US | North Carolina | Wilkes County NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 27.17% |
| 2018 | 36.05% | 34.86% | 26.18% |
| 2017 | 36.13% | 34.60% | 22.72% |
| 2016 | 36.88% | 35.78% | 22.44% |
| 2015 | 36.97% | 36.13% | 23.93% |
| 2014 | 36.90% | 35.75% | 31.47% |
| 2013 | 36.50% | 35.74% | 26.74% |
| 2012 | 36.09% | 34.56% | 22.22% |
| 2011 | 35.42% | 33.49% | 27.19% |
| 2010 | 34.65% | 32.83% | 25.22% |
| 2009 | 34.13% | 32.81% | 30.49% |
| 2007 | 32.80% | 31.70% | 23.88% |
| 2005 | 33.10% | 31.81% | 22.78% |
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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