Roanoke County Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Roanoke County VA was $954 in 2019 according to the Census ACS survey.1 Average gross rent in Roanoke County was $980 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 Roanoke County median and average rent data will be released in September of 2021.
Data is also available below for Roanoke County rental vacancy rates, Roanoke County rent as a percent of median income and the fraction of renters in Roanoke County.
Real Gross Rent in Roanoke 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% |
| Roanoke County VA Median Gross Rent | $954 | -3.64% | +8.78% |
Roanoke County VA Real Gross Rent Trends
Median gross rent for Roanoke County peaked in real terms in 2018 at $990 and is now $36 (3.64%) lower. Average gross rent for Roanoke County peaked in real terms in 2015 at $1,012 and is now $32 (3.16%) lower.
Real Gross Rent: Roanoke County VA Median, Roanoke County VA Average, Virginia Median, US Median
Real Gross Rent History for Roanoke County
| Date | US Median |
Virginia Median |
Roanoke County VA Median |
Roanoke County VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $954 | $980 |
| 2018 | $1,077 | $1,237 | $990 | $998 |
| 2017 | $1,043 | $1,216 | $906 | $904 |
| 2016 | $1,027 | $1,214 | $877 | $940 |
| 2015 | $1,017 | $1,214 | $977 | $1,012 |
| 2014 | $986 | $1,178 | $958 | $928 |
| 2013 | $953 | $1,144 | $835 | $797 |
| 2012 | $940 | $1,136 | $902 | $847 |
| 2011 | $941 | $1,147 | $820 | $817 |
| 2010 | $955 | $1,139 | $888 | $868 |
| 2009 | $960 | $1,127 | $854 | $936 |
| 2007 | $927 | $1,048 | $804 | $818 |
| 2005 | $910 | $1,015 | $749 | $741 |
Historical Rental Vacancy Rate data for Roanoke County
| Date | US | Virginia | Roanoke County VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | — |
| 2018 | 6.15% | 5.17% | — |
| 2017 | 6.18% | 6.45% | — |
| 2016 | 5.89% | 5.59% | 5.42% |
| 2015 | 5.85% | 5.13% | — |
| 2014 | 6.32% | 5.79% | — |
| 2013 | 6.49% | 6.38% | — |
| 2012 | 6.77% | 6.18% | — |
| 2011 | 7.40% | 7.54% | — |
| 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 Roanoke County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Roanoke County, median monthly gross rent as a fraction of median household income was 15.96% in 2019 according to the ACS.
Roanoke 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% |
| Roanoke County VA | 15.96% | -1.04% | -0.67% |
Trends in Roanoke County VA Rent as a Fraction of Income
The fraction of median Roanoke County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 17.69%. Since then it has fallen by 1.73% to 15.96%.
Fraction of Income towards Rent: Roanoke County VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Roanoke County Virginia
| Date | US | Virginia | Roanoke County VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 15.96% |
| 2018 | 20.50% | 20.09% | 17.00% |
| 2017 | 20.13% | 19.78% | 16.41% |
| 2016 | 20.43% | 20.42% | 16.63% |
| 2015 | 20.63% | 20.72% | 17.48% |
| 2014 | 20.89% | 20.63% | 17.53% |
| 2013 | 20.78% | 20.80% | 16.87% |
| 2012 | 20.65% | 20.76% | 17.69% |
| 2011 | 20.70% | 20.59% | 14.78% |
| 2010 | 20.50% | 20.15% | 16.67% |
| 2009 | 20.12% | 20.00% | 16.18% |
| 2007 | 18.66% | 17.97% | 13.75% |
| 2005 | 18.89% | 17.96% | 13.64% |
Renter Fraction in Roanoke County Virginia
You can calculate the renter fraction in Roanoke 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 Roanoke County as a fraction of total Roanoke County households. In 2019 23.57% of households were renters according to Census ACS data.
Roanoke 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% |
| Roanoke County VA | 23.57% | -4.26% | -0.11% |
Trends in the Roanoke County VA Renter Fraction
The Roanoke County household renter fraction peaked in in 2014 at 28.82% and is now 5.25% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Roanoke County VA, Virginia, US
History of Roanoke County Renter Fraction
| Date | US | Virginia | Roanoke County VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 23.57% |
| 2018 | 36.05% | 34.08% | 27.83% |
| 2017 | 36.13% | 33.43% | 24.99% |
| 2016 | 36.88% | 34.71% | 23.68% |
| 2015 | 36.97% | 34.99% | 26.27% |
| 2014 | 36.90% | 34.67% | 28.82% |
| 2013 | 36.50% | 34.38% | 23.85% |
| 2012 | 36.09% | 33.84% | 26.12% |
| 2011 | 35.42% | 32.67% | 21.14% |
| 2010 | 34.65% | 32.33% | 23.18% |
| 2009 | 34.13% | 31.87% | 24.85% |
| 2007 | 32.80% | 30.49% | 21.55% |
| 2005 | 33.10% | 30.36% | 18.09% |
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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