Harrisonburg Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Harrisonburg, VA (the Harrisonburg metro area) was $967 in 2019 according to the Census ACS survey.1 Average gross rent in Harrisonburg was $977 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 Harrisonburg median and average rent data will be released in September of 2021.
Data is also available below for Harrisonburg rental vacancy rates, Harrisonburg rent as a percent of median income and the fraction of renters in Harrisonburg.
Real Gross Rent in Harrisonburg 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% |
| Harrisonburg, VA Median Gross Rent | $967 | +7.44% | +14.44% |
Harrisonburg, VA Real Gross Rent Trends
At $967, real median gross rent in Harrisonburg was at its highest level in 2019 since the series began in 2005. At $977, real average gross rent in Harrisonburg was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Harrisonburg: Harrisonburg VA Median, Harrisonburg VA Average, Virginia Median, US Median
Real Gross Rent History for Harrisonburg
| Date | US Median |
Virginia Median |
Harrisonburg, VA Median |
Harrisonburg, VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $967 | $977 |
| 2018 | $1,077 | $1,237 | $900 | $965 |
| 2017 | $1,043 | $1,216 | $893 | $937 |
| 2016 | $1,027 | $1,214 | $845 | $802 |
| 2015 | $1,017 | $1,214 | $850 | $888 |
| 2014 | $986 | $1,178 | $876 | $935 |
| 2013 | $953 | $1,144 | $865 | $944 |
| 2012 | $940 | $1,136 | $903 | $931 |
| 2011 | $941 | $1,147 | $845 | $950 |
| 2010 | $955 | $1,139 | $825 | $907 |
| 2009 | $960 | $1,127 | $910 | $960 |
| 2007 | $927 | $1,048 | $819 | $836 |
| 2005 | $910 | $1,015 | $784 | $816 |
Harrisonburg 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 Harrisonburg Virginia was 4.15% according to Census ACS data.
Rental Vacancy Rate in Harrisonburg Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Harrisonburg, VA | 4.15% | +2.18% | -0.40% |
Trends in Harrisonburg, VA Rental Vacancy Rate
The rental vacancy rate in Harrisonburg peaked in 2014 at 6.83%. Since then it has fallen by 2.68% to 4.15%. Data records for this series originated in 2005.
Rental Vacancy Rate: Harrisonburg VA, Virginia, US
Historical Rental Vacancy Rate data for Harrisonburg
| Date | US | Virginia | Harrisonburg, VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | 4.15% |
| 2018 | 6.15% | 5.17% | 1.97% |
| 2017 | 6.18% | 6.45% | 5.15% |
| 2016 | 5.89% | 5.59% | 4.55% |
| 2015 | 5.85% | 5.13% | 3.00% |
| 2014 | 6.32% | 5.79% | 6.83% |
| 2013 | 6.49% | 6.38% | 4.19% |
| 2012 | 6.77% | 6.18% | 2.64% |
| 2011 | 7.40% | 7.54% | 6.61% |
| 2010 | 8.17% | 7.02% | 5.04% |
| 2009 | 8.43% | 7.29% | 4.35% |
| 2007 | 7.87% | 7.11% | 1.77% |
| 2005 | 7.74% | 7.20% | — |
Rent as a Fraction of Income
Using median household income data for Harrisonburg, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Harrisonburg, median monthly gross rent as a fraction of median household income was 19.10% in 2019 according to the ACS.
Harrisonburg 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% |
| Harrisonburg, VA | 19.10% | -0.89% | +0.25% |
Trends in Harrisonburg, VA Rent as a Fraction of Income
The fraction of median Harrisonburg household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 22.65%. Since then it has fallen by 3.55% to 19.10%.
Fraction of Income towards Rent: Harrisonburg VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Harrisonburg Virginia
| Date | US | Virginia | Harrisonburg, VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 19.10% |
| 2018 | 20.50% | 20.09% | 20.00% |
| 2017 | 20.13% | 19.78% | 19.00% |
| 2016 | 20.43% | 20.42% | 18.85% |
| 2015 | 20.63% | 20.72% | 20.27% |
| 2014 | 20.89% | 20.63% | 19.48% |
| 2013 | 20.78% | 20.80% | 21.09% |
| 2012 | 20.65% | 20.76% | 22.65% |
| 2011 | 20.70% | 20.59% | 20.13% |
| 2010 | 20.50% | 20.15% | 19.60% |
| 2009 | 20.12% | 20.00% | 22.45% |
| 2007 | 18.66% | 17.97% | 18.94% |
| 2005 | 18.89% | 17.96% | 17.43% |
Renter Fraction in Harrisonburg Virginia
You can calculate the renter fraction in Harrisonburg 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 Harrisonburg as a fraction of total Harrisonburg households. In 2019 38.64% of households were renters according to Census ACS data.
Harrisonburg 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% |
| Harrisonburg, VA | 38.64% | +1.48% | -1.88% |
Trends in the Harrisonburg, VA Renter Fraction
The Harrisonburg household renter fraction peaked in in 2014 at 41.76% and is now 3.12% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Harrisonburg VA, Virginia, US
History of Harrisonburg Renter Fraction
| Date | US | Virginia | Harrisonburg, VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 38.64% |
| 2018 | 36.05% | 34.08% | 37.16% |
| 2017 | 36.13% | 33.43% | 38.24% |
| 2016 | 36.88% | 34.71% | 40.52% |
| 2015 | 36.97% | 34.99% | 40.13% |
| 2014 | 36.90% | 34.67% | 41.76% |
| 2013 | 36.50% | 34.38% | 36.87% |
| 2012 | 36.09% | 33.84% | 36.97% |
| 2011 | 35.42% | 32.67% | 35.30% |
| 2010 | 34.65% | 32.33% | 39.87% |
| 2009 | 34.13% | 31.87% | 39.58% |
| 2007 | 32.80% | 30.49% | 37.76% |
| 2005 | 33.10% | 30.36% | 38.46% |
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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