Blacksburg Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Blacksburg, VA (the Blacksburg-Christiansburg-Radford metro area) was $866 in 2019 according to the Census ACS survey.1 Average gross rent in Blacksburg was $901 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Blacksburg median and average rent data will be released in September of 2021.
Data is also available below for Blacksburg rental vacancy rates, Blacksburg rent as a percent of median income and the fraction of renters in Blacksburg.
Real Gross Rent in Blacksburg Virginia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Virginia Median Gross Rent | $1,254 | +1.37% | +3.29% |
| Blacksburg, VA Median Gross Rent | $866 | -6.78% | +3.34% |
Blacksburg, VA Real Gross Rent Trends
Median gross rent for Blacksburg peaked in real terms in 2018 at $929 and is now $63 (6.78%) lower. Average gross rent for Blacksburg peaked in real terms in 2018 at $946 and is now $45 (4.76%) lower.
Real Gross Rent in Blacksburg: Blacksburg VA Median, Blacksburg VA Average, Virginia Median, US Median
Real Gross Rent History for Blacksburg
| Date | US Median |
Virginia Median |
Blacksburg, VA Median |
Blacksburg, VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $866 | $901 |
| 2018 | $1,077 | $1,237 | $929 | $946 |
| 2017 | $1,043 | $1,216 | $883 | $890 |
| 2016 | $1,027 | $1,214 | $838 | $872 |
| 2015 | $1,017 | $1,214 | $897 | $929 |
| 2014 | $986 | $1,178 | $826 | $835 |
| 2013 | $953 | $1,144 | $823 | $821 |
| 2012 | $940 | $1,136 | $745 | $747 |
| 2011 | $941 | $1,147 | $764 | $827 |
| 2010 | $955 | $1,139 | $838 | $836 |
| 2009 | $960 | $1,127 | $792 | $846 |
| 2007 | $927 | $1,048 | $726 | $778 |
| 2005 | $910 | $1,015 | $724 | $726 |
Blacksburg Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Blacksburg Virginia was 4.31% according to Census ACS data.
Rental Vacancy Rate in Blacksburg Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Blacksburg, VA | 4.31% | -2.39% | -1.82% |
Trends in Blacksburg, VA Rental Vacancy Rate
The rental vacancy rate in Blacksburg peaked in 2005 at 7.80%. Since then it has fallen by 3.49% to 4.31%. Data records for this series originated in 2005. From a 2008 post peak low of 1.23%, the rental vacancy rate has increased by 3.08%.
Rental Vacancy Rate: Blacksburg VA, Virginia, US
Historical Rental Vacancy Rate data for Blacksburg
| Date | US | Virginia | Blacksburg, VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | 4.31% |
| 2018 | 6.15% | 5.17% | 6.70% |
| 2017 | 6.18% | 6.45% | 6.56% |
| 2016 | 5.89% | 5.59% | 6.13% |
| 2015 | 5.85% | 5.13% | 6.08% |
| 2014 | 6.32% | 5.79% | 6.17% |
| 2013 | 6.49% | 6.38% | 5.68% |
| 2012 | 6.77% | 6.18% | 3.42% |
| 2011 | 7.40% | 7.54% | 4.59% |
| 2010 | 8.17% | 7.02% | 3.47% |
| 2009 | 8.43% | 7.29% | 4.82% |
| 2007 | 7.87% | 7.11% | 3.87% |
| 2005 | 7.74% | 7.20% | 7.80% |
Rent as a Fraction of Income
Using median household income data for Blacksburg, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Blacksburg, median monthly gross rent as a fraction of median household income was 18.53% in 2019 according to the ACS.
Blacksburg Virginia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Virginia | 19.68% | -0.41% | -0.74% |
| Blacksburg, VA | 18.53% | -3.25% | -0.32% |
Trends in Blacksburg, VA Rent as a Fraction of Income
The fraction of median Blacksburg household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.43%. Since then it has fallen by 3.90% to 18.53%.
Fraction of Income towards Rent: Blacksburg VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Blacksburg Virginia
| Date | US | Virginia | Blacksburg, VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 18.53% |
| 2018 | 20.50% | 20.09% | 21.78% |
| 2017 | 20.13% | 19.78% | 19.73% |
| 2016 | 20.43% | 20.42% | 18.84% |
| 2015 | 20.63% | 20.72% | 19.93% |
| 2014 | 20.89% | 20.63% | 21.47% |
| 2013 | 20.78% | 20.80% | 22.21% |
| 2012 | 20.65% | 20.76% | 19.79% |
| 2011 | 20.70% | 20.59% | 20.72% |
| 2010 | 20.50% | 20.15% | 22.43% |
| 2009 | 20.12% | 20.00% | 20.53% |
| 2007 | 18.66% | 17.97% | 18.79% |
| 2005 | 18.89% | 17.96% | 20.94% |
Renter Fraction in Blacksburg Virginia
You can calculate the renter fraction in Blacksburg in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Blacksburg as a fraction of total Blacksburg households. In 2019 42.20% of households were renters according to Census ACS data.
Blacksburg Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Virginia | 33.87% | -0.21% | -0.84% |
| Blacksburg, VA | 42.20% | +6.89% | +2.70% |
Trends in the Blacksburg, VA Renter Fraction
At 42.20%, the 2019 household based renter fraction in Blacksburg was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Blacksburg VA, Virginia, US
History of Blacksburg Renter Fraction
| Date | US | Virginia | Blacksburg, VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 42.20% |
| 2018 | 36.05% | 34.08% | 35.31% |
| 2017 | 36.13% | 33.43% | 38.19% |
| 2016 | 36.88% | 34.71% | 39.50% |
| 2015 | 36.97% | 34.99% | 38.23% |
| 2014 | 36.90% | 34.67% | 38.88% |
| 2013 | 36.50% | 34.38% | 39.01% |
| 2012 | 36.09% | 33.84% | 41.75% |
| 2011 | 35.42% | 32.67% | 41.08% |
| 2010 | 34.65% | 32.33% | 35.68% |
| 2009 | 34.13% | 31.87% | 41.21% |
| 2007 | 32.80% | 30.49% | 38.21% |
| 2005 | 33.10% | 30.36% | 38.82% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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