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Housing Facts and Statistics in NC

The statistics are daunting: over 1 million households do not have and cannot afford a safe, stable home in NC [ii]; the average hourly wage needed to afford a two-bedroom apartment at fair market rent is $13.63 -- almost twice as much as minimum wage; 10,519 households go without heat in the winter; and more than 16,548 homes still lack indoor plumbing. However, these numbers only represent the tangible need for housing.

The state’s most critical housing need is improving rental housing opportunities for households earning less than 30% of median income.

 

Housing Stock

  • 4,120,599:  Total housing units
  • 68%:  Homeownership rate
  • 13%:  Percent of the owner-occupied homes that are mobile homes
  • 14%:  Percent of the renter-occupied homes that are mobile homes
  • 1985:  Median year of construction for owner-occupied homes
  • 1982:  Median year of construction for renter-occupied homes
  • 4%:  Percent of total units that are seasonally vacant


Housing Costs

  • $1,216:  Median monthly homeownership cost (2009 dollars)
  • $709:  Fair Market Rent for two-bedroom unit [i]
  • $13.63:  Hourly wage needed to afford a two-bedroom apartment at Fair Market Rent
  • $7.25:  Minimum wage in 2012
  • $3.88:  SSI income as an hourly wage in 2012 (assuming 40 hours per week)
  • 42.9%:  Percent of renters that don’t earn enough to afford a two-bedroom apartment at Fair Market Rent


Housing Problems

  • 31%:  Percent of households with housing problems [ii]
  • 44%:  Percent of renter households with housing problems
  • 25%:  Percent of owner households with housing problems
  • 318,963: Number of foreclosure starts between 2005-2010
  • 14.7%: Percent of Owner Occupied Units and foreclosure starts

[i] "Fair Market Rent" means the rent for a less-than-average standard rental until: for a detailed description see www.huduser.org/datasets/fmr.html.

[ii] “Housing Problems” are defined as having to pay more than 30% of income for housing, having inadequate kitchen or plumbing facilities, or having over-crowded housing (more than one person per room).

Sources: American Community Survey 2005-2009; National Low Income Housing Coalition's 2012 Out of Reach report; NC Foreclosure Help

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