How many renters live in North Carolina?
The State of North Carolina has 79,864 people living in 34,020 households.
There are 16,809 renters living in 7,383 renter households in this State. Renters make up 21.05 percent of the population living in North Carolina.
What is the rental market like in North Carolina?
There are an estimated 34,190 housing units in the North Carolina area. Of these, 6,866 units are rental homes, making up 20 percent of the housing market. For every renter household in North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in North Carolina?
The rental vacancy rate in North Carolina is 8 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 North Carolina for each bedroom size?
Occupied Rental Units by Size in North Carolina
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 49 | 581 | 2,744 | 2,436 | 435 |
Occupied Rental Units by Size in North Carolina
A large number of apartments in North Carolina 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 North Carolina are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 22 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 many units are rented at Fair Market Rent (FMR) in North Carolina?
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 | 49 | 100 percent |
| One BR | 375 | 65 percent |
| Two BR | 1,947 | 71 percent |
Rental Units Below FMR in North Carolina
How many affordable rental units are in North Carolina?
There are a variety of federal affordable housing programs serving households in North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 580 |
| Section 8 Project-Based Rental Assistance | 22 |
| USDA Section 515 Rural Rental Housing | 276 |
Tracked Units by Federal Program in North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in North Carolina
North Carolina features 83,936 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 North Carolina
There are 63,324 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in North Carolina.
Housing Choice Vouchers in North Carolina
On average, Section 8 Housing Choice vouchers pay North Carolina landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in North Carolina.
The maximum amount a voucher would pay on behalf of a low-income tenant in North Carolina for a two-bedroom apartment is between $1,468 and $1,794.
Sourced from federal housing data and AffordableHousingOnline.com research.
