How many renters live in Pitt County, North Carolina?
The County of Pitt County has people living in households.
There are renters living in renter households in this County. Renters make up 39.62 percent of the population living in Pitt County.
What is the rental market like in Pitt County, North Carolina?
There are an estimated housing units in the Pitt County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Pitt County, North Carolina, there are 1.07 rental units.
What is the vacancy rate for rentals in Pitt County?
The rental vacancy rate in Pitt 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 Pitt County for each bedroom size?
Occupied Rental Units by Size in Pitt County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms 556 7,994 13,416 10,425 2,664 Occupied Rental Units by Size in Pitt County
A large number of apartments in Pitt County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Pitt County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $925 to $1,960. FMRs are updated annually by HUD for every city and county nationwide.
Bed Size 2024 Fair Market Rents Studio $925 One BR $931 Two BR $1,155 Three BR $1,570 Four BR $1,960 2024 Fair Market Rents in Pitt County, North Carolina
How many units are rented at Fair Market Rent (FMR) in Pitt 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 178 32 percent One BR 5,769 72 percent Two BR 9,400 70 percent Rental Units Below FMR in Pitt County, North Carolina
How many affordable rental units are in Pitt County?
There are a variety of federal affordable housing programs serving households in
Pitt County, North Carolina including the following: Rental units may be funded in part by multiple federal programs.Federal Program Unit Count Low Income Housing Tax Credit Public Housing Section 8 Project-Based Rental Assistance Section 202 Supportive Housing for the Elderly Section 811 Supportive Housing for Persons with Disabilities USDA Section 515 Rural Rental Housing Tracked Units by Federal Program in Pitt County, North Carolina
Income Based Apartments in Pitt County, North Carolina
Pitt County features 2,219 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 Pitt County, North Carolina
There are 1,173 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Pitt County.
Housing Choice Vouchers in Pitt County, North Carolina
On average, Section 8 Housing Choice vouchers pay Pitt County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Pitt County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Pitt County, North Carolina for a two-bedroom apartment is between $1,040 and $1,271.
Sourced from federal housing data and AffordableHousingOnline.com research.