Welcome to the unveiling of the 2024 County Profiles, offering an in-depth look into the housing dynamics across all 100 counties of North Carolina.
Why County Profiles Matter
County Profiles serve as vital tools for advocates, organizations, and policymakers, enabling them to effectively communicate the housing needs within their respective counties. These profiles provide a comprehensive data snapshot, highlighting crucial metrics such as the percentage of cost-burdened residents, income requirements for Fair Market Rent, and eviction rates compared to the state average.
New Metrics for 2024
Responding to feedback from our Coalition, we’ve introduced two new metrics this year:
- Increase in Fair Market Rents (FMRs): Over the last 5 years (2019-2023) and the past year.
- Cost of Living Trends: Reflecting substantial rises in housing costs, with some areas witnessing up to a 69% increase in FMRs over 5 years.
Data Highlights
Our analysis of the 2024 County Profiles uncovered significant trends:
- Nearly 1.2 million households in North Carolina are cost-burdened, spending over 30% of their income on housing.
- On average, 28% of households face total cost burdens across all counties.
- Hyde County maintains the highest percentage of total cost-burdened households for the second consecutive year, at 47%.
- Area Fair Market Rents for a modest 2-bedroom apartment surged by 38% between 2019-2023.
- Certain Metropolitan Statistical Areas (MSAs) reported the highest FMRs and witnessed notable increases during the same period.
Understanding Eviction Filings
Examining eviction filings relative to the total number of renter households revealed the following:
- Edgecombe, Nash, and Vance counties top the list, indicating a high ratio of renter households facing eviction.
- Mecklenburg County recorded the highest number of eviction filings, totaling 33,507, alongside the highest count of cost-burdened households at 139,324.
Development and Feedback
We engaged our Coalition in Fall 2023 to gather feedback for enhancing the 2024 County Profiles. Insights were synthesized to incorporate new data and resources, ensuring a comprehensive overview of each county’s housing landscape.
Advocacy Toolkit
Year after year, County Profiles have proven instrumental in advocacy efforts, aiding in communications with elected officials, community leaders, and stakeholders across North Carolina’s housing sector. Stay tuned for additional tools and resources to support your advocacy initiatives in the coming weeks!
Data Sources and Contact Information
For those interested in our data sources and methodology or wishing to provide feedback, please refer to the following sources:
- American Communities Survey 5-Year Estimates Data Profile
- HUD Fair Market Rents
- US Bureau of Labor Statistics
- Civil Issue Filings and Order Results – NC Administrative Office of the Courts
Your voice matters! Keep an eye out for the official survey for input on the 2025 County Profiles, opening in September 2024.
Stay informed. Stay empowered. Together, let’s drive positive change in North Carolina’s housing landscape. Feel free to reach out to the Brazoban Realty Group for any further insights or questions.
Source, North Carolina Housing Coalition
