How many renters live in Cabarrus County, North Carolina?
The County of Cabarrus County has 235,797 people living in 87,195 households.
There are 63,901 renters living in 26,870 renter households in this County. Renters make up 27.1 percent of the population living in Cabarrus County.
What is the rental market like in Cabarrus County, North Carolina?
There are an estimated 92,776 housing units in the Cabarrus County area. Of these, 29,418 units are rental homes, making up 32 percent of the housing market. For every renter household in Cabarrus County, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Cabarrus County?
The rental vacancy rate in Cabarrus County is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Cabarrus County for each bedroom size?
Occupied Rental Units by Size in Cabarrus County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 5,286 | 3,073 | 7,234 | 7,006 | 3,282 |
Occupied Rental Units by Size in Cabarrus County
A large number of apartments in Cabarrus 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 Cabarrus County are overburdened by housing costs?
Among renter households in this market, 52 percent have housing cost burden. Further, 21 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 Cabarrus County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,347 to $2,481. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,347 |
| One BR | $1,384 |
| Two BR | $1,554 |
| Three BR | $1,936 |
| Four BR | $2,481 |
2024 Fair Market Rents in Cabarrus County, North Carolina
How many units are rented at Fair Market Rent (FMR) in Cabarrus 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 | 3,306 | 63 percent |
| One BR | 2,021 | 66 percent |
| Two BR | 5,818 | 80 percent |
Rental Units Below FMR in Cabarrus County, North Carolina
How many affordable rental units are in Cabarrus County?
There are a variety of federal affordable housing programs serving households in Cabarrus County, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 2,002 |
| Public Housing | 174 |
| Section 8 Project-Based Rental Assistance | 393 |
| Section 202 Supportive Housing for the Elderly | 40 |
| Section 811 Supportive Housing for Persons with Disabilities | 21 |
| USDA Section 515 Rural Rental Housing | 48 |
Tracked Units by Federal Program in Cabarrus County, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cabarrus County, North Carolina
Cabarrus County features 843 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 Cabarrus County, North Carolina
There are 1,293 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cabarrus County.
Housing Choice Vouchers in Cabarrus County, North Carolina
On average, Section 8 Housing Choice vouchers pay Cabarrus County landlords $800 per month towards rent. The average voucher holder contributes $300 towards rent in Cabarrus County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cabarrus County, North Carolina for a two-bedroom apartment is between $1,399 and $1,709.
Sourced from federal housing data and AffordableHousingOnline.com research.
