Newport News City Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Newport News City VA was $1,088 in 2019 according to the Census ACS survey.1 Average gross rent in Newport News City was $1,125 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 Newport News City median and average rent data will be released in September of 2021.
Data is also available below for Newport News City rental vacancy rates, Newport News City rent as a percent of median income and the fraction of renters in Newport News City.
Real Gross Rent in Newport News City 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% |
| Newport News City VA Median Gross Rent | $1,088 | +8.37% | +4.82% |
Newport News City VA Real Gross Rent Trends
At $1,088, real median gross rent in Newport News City was at its highest level in 2019 since the series began in 2005. At $1,125, real average gross rent in Newport News City was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Newport News City VA Median, Newport News City VA Average, Virginia Median, US Median
Real Gross Rent History for Newport News City
| Date | US Median |
Virginia Median |
Newport News City VA Median |
Newport News City VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $1,088 | $1,125 |
| 2018 | $1,077 | $1,237 | $1,004 | $996 |
| 2017 | $1,043 | $1,216 | $1,026 | $1,062 |
| 2016 | $1,027 | $1,214 | $1,038 | $1,082 |
| 2015 | $1,017 | $1,214 | $1,010 | $1,022 |
| 2014 | $986 | $1,178 | $980 | $990 |
| 2013 | $953 | $1,144 | $941 | $969 |
| 2012 | $940 | $1,136 | $1,031 | $1,002 |
| 2011 | $941 | $1,147 | $1,041 | $1,041 |
| 2010 | $955 | $1,139 | $1,056 | $1,114 |
| 2009 | $960 | $1,127 | $1,020 | $1,033 |
| 2007 | $927 | $1,048 | $952 | $926 |
| 2005 | $910 | $1,015 | $991 | $943 |
Newport News City 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 Newport News City Virginia was 10.22% according to Census ACS data.
Rental Vacancy Rate in Newport News City Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Newport News City VA | 10.22% | +1.39% | -1.82% |
Trends in Newport News City VA Rental Vacancy Rate
The rental vacancy rate in Newport News City peaked in 2016 at 12.04%. Since then it has fallen by 1.82% to 10.22%. Data records for this series originated in 2005.
Rental Vacancy Rate: Newport News City VA, Virginia, US
Historical Rental Vacancy Rate data for Newport News City
| Date | US | Virginia | Newport News City VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | 10.22% |
| 2018 | 6.15% | 5.17% | 8.83% |
| 2017 | 6.18% | 6.45% | — |
| 2016 | 5.89% | 5.59% | 12.04% |
| 2015 | 5.85% | 5.13% | 9.14% |
| 2014 | 6.32% | 5.79% | 6.24% |
| 2013 | 6.49% | 6.38% | 8.89% |
| 2012 | 6.77% | 6.18% | — |
| 2011 | 7.40% | 7.54% | 10.40% |
| 2010 | 8.17% | 7.02% | — |
| 2009 | 8.43% | 7.29% | — |
| 2007 | 7.87% | 7.11% | — |
| 2005 | 7.74% | 7.20% | — |
Rent as a Fraction of Income
Using median household income data for Newport News City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Newport News City, median monthly gross rent as a fraction of median household income was 24.62% in 2019 according to the ACS.
Newport News City 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% |
| Newport News City VA | 24.62% | +1.04% | +1.08% |
Trends in Newport News City VA Rent as a Fraction of Income
Newport News City renters paid 24.62% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Newport News City VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Newport News City Virginia
| Date | US | Virginia | Newport News City VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 24.62% |
| 2018 | 20.50% | 20.09% | 23.58% |
| 2017 | 20.13% | 19.78% | 24.02% |
| 2016 | 20.43% | 20.42% | 23.54% |
| 2015 | 20.63% | 20.72% | 23.49% |
| 2014 | 20.89% | 20.63% | 22.45% |
| 2013 | 20.78% | 20.80% | 21.81% |
| 2012 | 20.65% | 20.76% | 24.49% |
| 2011 | 20.70% | 20.59% | 23.62% |
| 2010 | 20.50% | 20.15% | 22.26% |
| 2009 | 20.12% | 20.00% | 21.67% |
| 2007 | 18.66% | 17.97% | 21.43% |
| 2005 | 18.89% | 17.96% | 20.40% |
Renter Fraction in Newport News City Virginia
You can calculate the renter fraction in Newport News City 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 Newport News City as a fraction of total Newport News City households. In 2019 51.24% of households were renters according to Census ACS data.
Newport News City 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% |
| Newport News City VA | 51.24% | -1.35% | +0.65% |
Trends in the Newport News City VA Renter Fraction
The Newport News City household renter fraction peaked in in 2015 at 53.13% and is now 1.89% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Newport News City VA, Virginia, US
History of Newport News City Renter Fraction
| Date | US | Virginia | Newport News City VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 51.24% |
| 2018 | 36.05% | 34.08% | 52.59% |
| 2017 | 36.13% | 33.43% | 50.12% |
| 2016 | 36.88% | 34.71% | 50.59% |
| 2015 | 36.97% | 34.99% | 53.13% |
| 2014 | 36.90% | 34.67% | 51.94% |
| 2013 | 36.50% | 34.38% | 48.74% |
| 2012 | 36.09% | 33.84% | 50.36% |
| 2011 | 35.42% | 32.67% | 47.47% |
| 2010 | 34.65% | 32.33% | 49.27% |
| 2009 | 34.13% | 31.87% | 47.52% |
| 2007 | 32.80% | 30.49% | 47.72% |
| 2005 | 33.10% | 30.36% | 45.99% |
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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