Chesterfield County Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Chesterfield County VA was $1,263 in 2019 according to the Census ACS survey.1 Average gross rent in Chesterfield County was $1,258 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 Chesterfield County median and average rent data will be released in September of 2021.
Data is also available below for Chesterfield County rental vacancy rates, Chesterfield County rent as a percent of median income and the fraction of renters in Chesterfield County.
Real Gross Rent in Chesterfield County 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% |
| Chesterfield County VA Median Gross Rent | $1,263 | -0.47% | +5.69% |
Chesterfield County VA Real Gross Rent Trends
Median gross rent for Chesterfield County peaked in real terms in 2018 at $1,269 and is now $6 (0.47%) lower. Average gross rent for Chesterfield County peaked in real terms in 2018 at $1,274 and is now $16 (1.26%) lower.
Real Gross Rent: Chesterfield County VA Median, Chesterfield County VA Average, Virginia Median, US Median
Real Gross Rent History for Chesterfield County
| Date | US Median |
Virginia Median |
Chesterfield County VA Median |
Chesterfield County VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $1,263 | $1,258 |
| 2018 | $1,077 | $1,237 | $1,269 | $1,274 |
| 2017 | $1,043 | $1,216 | $1,238 | $1,249 |
| 2016 | $1,027 | $1,214 | $1,195 | $1,214 |
| 2015 | $1,017 | $1,214 | $1,227 | $1,270 |
| 2014 | $986 | $1,178 | $1,233 | $1,199 |
| 2013 | $953 | $1,144 | $1,142 | $1,157 |
| 2012 | $940 | $1,136 | $1,094 | $1,152 |
| 2011 | $941 | $1,147 | $1,147 | $1,145 |
| 2010 | $955 | $1,139 | $1,102 | $1,105 |
| 2009 | $960 | $1,127 | $1,156 | $1,170 |
| 2007 | $927 | $1,048 | $1,133 | $1,091 |
| 2005 | $910 | $1,015 | $1,023 | $1,060 |
Chesterfield County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Chesterfield County Virginia was 1.73% according to Census ACS data.
Rental Vacancy Rate in Chesterfield County Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Chesterfield County VA | — | — | — |
Trends in Chesterfield County VA Rental Vacancy Rate
The rental vacancy rate in Chesterfield County peaked in 2011 at 16.01%. Since then it has fallen by 14.28% to 1.73%. Data records for this series originated in 2005.
Rental Vacancy Rate: Chesterfield County VA, Virginia, US
Historical Rental Vacancy Rate data for Chesterfield County
| Date | US | Virginia | Chesterfield County VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | — |
| 2018 | 6.15% | 5.17% | — |
| 2017 | 6.18% | 6.45% | 1.73% |
| 2016 | 5.89% | 5.59% | 4.49% |
| 2015 | 5.85% | 5.13% | 3.28% |
| 2014 | 6.32% | 5.79% | 8.59% |
| 2013 | 6.49% | 6.38% | 10.80% |
| 2012 | 6.77% | 6.18% | 9.75% |
| 2011 | 7.40% | 7.54% | 16.01% |
| 2010 | 8.17% | 7.02% | 14.88% |
| 2009 | 8.43% | 7.29% | 5.79% |
| 2007 | 7.87% | 7.11% | 1.76% |
| 2005 | 7.74% | 7.20% | 11.99% |
Rent as a Fraction of Income
Using median household income data for Chesterfield County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Chesterfield County, median monthly gross rent as a fraction of median household income was 18.64% in 2019 according to the ACS.
Chesterfield County 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% |
| Chesterfield County VA | 18.64% | +0.10% | +0.64% |
Trends in Chesterfield County VA Rent as a Fraction of Income
The fraction of median Chesterfield County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 19.45%. Since then it has fallen by 0.81% to 18.64%.
Fraction of Income towards Rent: Chesterfield County VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Chesterfield County Virginia
| Date | US | Virginia | Chesterfield County VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 18.64% |
| 2018 | 20.50% | 20.09% | 18.54% |
| 2017 | 20.13% | 19.78% | 17.84% |
| 2016 | 20.43% | 20.42% | 18.00% |
| 2015 | 20.63% | 20.72% | 18.48% |
| 2014 | 20.89% | 20.63% | 19.23% |
| 2013 | 20.78% | 20.80% | 19.45% |
| 2012 | 20.65% | 20.76% | 17.56% |
| 2011 | 20.70% | 20.59% | 17.92% |
| 2010 | 20.50% | 20.15% | 17.11% |
| 2009 | 20.12% | 20.00% | 17.40% |
| 2007 | 18.66% | 17.97% | 16.67% |
| 2005 | 18.89% | 17.96% | 14.73% |
Renter Fraction in Chesterfield County Virginia
You can calculate the renter fraction in Chesterfield County 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 Chesterfield County as a fraction of total Chesterfield County households. In 2019 22.72% of households were renters according to Census ACS data.
Chesterfield County 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% |
| Chesterfield County VA | 22.72% | -0.54% | -1.43% |
Trends in the Chesterfield County VA Renter Fraction
The Chesterfield County household renter fraction peaked in in 2015 at 27.38% and is now 4.66% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Chesterfield County VA, Virginia, US
History of Chesterfield County Renter Fraction
| Date | US | Virginia | Chesterfield County VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 22.72% |
| 2018 | 36.05% | 34.08% | 23.26% |
| 2017 | 36.13% | 33.43% | 25.46% |
| 2016 | 36.88% | 34.71% | 24.15% |
| 2015 | 36.97% | 34.99% | 27.38% |
| 2014 | 36.90% | 34.67% | 25.14% |
| 2013 | 36.50% | 34.38% | 24.61% |
| 2012 | 36.09% | 33.84% | 23.02% |
| 2011 | 35.42% | 32.67% | 22.22% |
| 2010 | 34.65% | 32.33% | 24.58% |
| 2009 | 34.13% | 31.87% | 22.51% |
| 2007 | 32.80% | 30.49% | 22.39% |
| 2005 | 33.10% | 30.36% | 19.93% |
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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