How many renters live in Martin County, North Carolina?
The County of Martin County has 21,992 people living in 9,332 households.
There are 7,367 renters living in 3,120 renter households in this County. Renters make up 33.5 percent of the population living in Martin County.
What is the rental market like in Martin County, North Carolina?
There are an estimated 11,108 housing units in the Martin County area. Of these, 3,359 units are rental homes, making up 30 percent of the housing market. For every renter household in Martin County, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Martin County?
The rental vacancy rate in Martin County is 7 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Martin County for each bedroom size?
Occupied Rental Units by Size in Martin County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 20 | 397 | 1,046 | 1,371 | 285 |
Occupied Rental Units by Size in Martin County
A large number of apartments in Martin County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Martin County are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 17 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Martin County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $683 to $1,140. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $683 |
| One BR | $687 |
| Two BR | $856 |
| Three BR | $1,122 |
| Four BR | $1,140 |
2024 Fair Market Rents in Martin County, North Carolina
How many units are rented at Fair Market Rent (FMR) in Martin County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 19 | 95 percent |
| One BR | 284 | 72 percent |
| Two BR | 633 | 61 percent |
Rental Units Below FMR in Martin County, North Carolina
How many affordable rental units are in Martin County?
There are a variety of federal affordable housing programs serving households in Martin County, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 167 |
| Public Housing | 280 |
| Section 8 Project-Based Rental Assistance | 154 |
| USDA Section 515 Rural Rental Housing | 279 |
Tracked Units by Federal Program in Martin County, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Martin County, North Carolina
Martin County features 648 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Martin County, North Carolina
There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Martin County.
Housing Choice Vouchers in Martin County, North Carolina
On average, Section 8 Housing Choice vouchers pay Martin County landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Martin County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Martin County, North Carolina for a two-bedroom apartment is between $770 and $942.
Sourced from federal housing data and AffordableHousingOnline.com research.
