Housing Report for Rocky Mount

Rocky Mount recorded median owner-occupied home value in the year 2005 of $93,300, accounted by the American Community Survey. This home value is less than the State of North Carolina 2005 median home value of $127,600 and less than median home value of $167,500 across the nation during that year.

In the State of North Carolina, Rocky Mount ranks 13 of the 14 metro areas in terms of percentage growth in new housing structures. The metropolitan statistical area (msa) ranks 226 of 361, compared to percent change of residential structures in other metropolitan areas throughout the United States.

The residential housing values in Rocky Mount, North Carolina have seen small increases since the Census values accounted for in the year 2000. The values have increased by $6,700, or 7.7 percent, since 2000 when their medians were reported to be $86,600.

Rocky Mount has a small, but present proportion of high-valued homes. For the year 2005, the American Community Survey reported that 0.7 percent of the areas residential property was valued over $500k.

In Rocky Mount, the U.S. Census Bureau, Population Division accounted for a total of 65,068 housing structures in 2005. The metro area has seen a medium level of growth in the number housing units, adding a sum of 2,714 residential units since 2001, or 4.4 percent.

It can be understood that there is a large amount of real estate that is affordable in Rocky Mount, North Carolina. In 2005, 68.5 percent of owner-occupied dwellings were valued under $125k.

Data Source: U.S. Census Bureau

Employment Report for Rocky Mount, North Carolina -- Annual 2005 Industry Summary

Manufacturing since the year 2001 was faced with the largest loss in employment in the Rocky Mount Metro Area. The industry lost a total of 2,868 employees during the period, or 19 percent of jobs in the industry. The losses in this industry made up 53.4 percent of all employment losses in the Metro Area.

In Rocky Mount, Manufacturing, Retail Trade, and the Wholesale trade sectors, in terms of total employment, are the largest. Manufacturing provides the most jobs and contributes 23.5 percent of all the jobs in the Metropolitain Area. This makes up 12,214 jobs. The Retail Trade and Wholesale trade industries total 13.6 and 8.3 percent of the total jobs, respectively.

A well-paying sector in Rocky Mount is the finance and insurance sector with an annual pay of $63,160. Locally, since the year 2001, the industry annual average wages have declined by 23.1 percent or $19,015. The State of North Carolina has a similar employment climate in the finance and insurance sector, placing near the top of sectors by 2004 industry pay.

In Rocky Mount, Agriculture, forestry, fishing and hunting, Manufacturing and Wholesale trade industries have the highest United States location quotient (LQ). The Agriculture, forestry, fishing and hunting industry has an LQ of 2.86. In other words, the percent of total jobs in the Agriculture, forestry, fishing and hunting industry is 2.86 times greater than the national average, signifying that Rocky Mount produces more than its local requirement of products and/or services of Agriculture, forestry, fishing and hunting.

Manufacturing has a largest number of employees per establishment in Rocky Mount Metro Area. The industry averages 78 jobs per place of business. This is greater than the industry's average in the United States of 39 and greater than the State of North Carolina typical size of 53 for the Manufacturing industry.

Wholesale trade in the period of 2001 to 2005 had the largest increase in employment in Rocky Mount, changing a total of 44.6 percent. This is greater than the change in industry employment in the United States of 0.4 percent. The State of North Carolina experienced a sector employment shift of 6.1 percent, during the period of 2001 to 2005.

The Rocky Mount Metropolitain Area is ranked number 243 of 363 throughout the US in terms of total 2005 employment. The regions employment ranking has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 226 of 363 Counties.



Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).