Rockingham County Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Rockingham County VA was $982 in 2019 according to the Census ACS survey.1 Average gross rent in Rockingham County was $985 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 Rockingham County median and average rent data will be released in September of 2021.
Data is also available below for Rockingham County rental vacancy rates, Rockingham County rent as a percent of median income and the fraction of renters in Rockingham County.
Real Gross Rent in Rockingham 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% |
| Rockingham County VA Median Gross Rent | $982 | +10.84% | +9.84% |
Rockingham County VA Real Gross Rent Trends
At $982, real median gross rent in Rockingham County was at its highest level in 2019 since the series began in 2005. At $985, real average gross rent in Rockingham County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Rockingham County VA Median, Rockingham County VA Average, Virginia Median, US Median
Real Gross Rent History for Rockingham County
| Date | US Median |
Virginia Median |
Rockingham County VA Median |
Rockingham County VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $982 | $985 |
| 2018 | $1,077 | $1,237 | $886 | $934 |
| 2017 | $1,043 | $1,216 | $868 | $877 |
| 2016 | $1,027 | $1,214 | $894 | $764 |
| 2015 | $1,017 | $1,214 | $875 | $869 |
| 2014 | $986 | $1,178 | $800 | $827 |
| 2013 | $953 | $1,144 | $870 | $902 |
| 2012 | $940 | $1,136 | $882 | $833 |
| 2011 | $941 | $1,147 | $794 | $842 |
| 2010 | $955 | $1,139 | $822 | $770 |
| 2009 | $960 | $1,127 | $905 | $797 |
| 2007 | $927 | $1,048 | $795 | $771 |
| 2005 | $910 | $1,015 | $749 | $701 |
Rockingham 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 Rockingham County Virginia was 2.99% according to Census ACS data.
Rental Vacancy Rate in Rockingham County Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Rockingham County VA | — | — | — |
Trends in Rockingham County VA Rental Vacancy Rate
The rental vacancy rate in Rockingham County peaked in 2011 at 9.15%. Since then it has fallen by 6.16% to 2.99%. Data records for this series originated in 2005.
Rental Vacancy Rate: Rockingham County VA, Virginia, US
Historical Rental Vacancy Rate data for Rockingham County
| Date | US | Virginia | Rockingham County VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | — |
| 2018 | 6.15% | 5.17% | — |
| 2017 | 6.18% | 6.45% | 2.99% |
| 2016 | 5.89% | 5.59% | — |
| 2015 | 5.85% | 5.13% | 5.13% |
| 2014 | 6.32% | 5.79% | — |
| 2013 | 6.49% | 6.38% | — |
| 2012 | 6.77% | 6.18% | 4.09% |
| 2011 | 7.40% | 7.54% | 9.15% |
| 2010 | 8.17% | 7.02% | — |
| 2009 | 8.43% | 7.29% | 4.12% |
| 2007 | 7.87% | 7.11% | — |
| 2005 | 7.74% | 7.20% | — |
Rent as a Fraction of Income
Using median household income data for Rockingham County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rockingham County, median monthly gross rent as a fraction of median household income was 16.97% in 2019 according to the ACS.
Rockingham 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% |
| Rockingham County VA | 16.97% | -0.08% | -0.77% |
Trends in Rockingham County VA Rent as a Fraction of Income
The fraction of median Rockingham County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 20.53%. Since then it has fallen by 3.55% to 16.97%.
Fraction of Income towards Rent: Rockingham County VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Rockingham County Virginia
| Date | US | Virginia | Rockingham County VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 16.97% |
| 2018 | 20.50% | 20.09% | 17.06% |
| 2017 | 20.13% | 19.78% | 16.98% |
| 2016 | 20.43% | 20.42% | 17.74% |
| 2015 | 20.63% | 20.72% | 19.05% |
| 2014 | 20.89% | 20.63% | 16.21% |
| 2013 | 20.78% | 20.80% | 17.68% |
| 2012 | 20.65% | 20.76% | 19.58% |
| 2011 | 20.70% | 20.59% | 17.00% |
| 2010 | 20.50% | 20.15% | 18.31% |
| 2009 | 20.12% | 20.00% | 20.53% |
| 2007 | 18.66% | 17.97% | 16.62% |
| 2005 | 18.89% | 17.96% | 14.84% |
Renter Fraction in Rockingham County Virginia
You can calculate the renter fraction in Rockingham 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 Rockingham County as a fraction of total Rockingham County households. In 2019 26.29% of households were renters according to Census ACS data.
Rockingham 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% |
| Rockingham County VA | 26.29% | +3.39% | -5.17% |
Trends in the Rockingham County VA Renter Fraction
The Rockingham County household renter fraction peaked in in 2016 at 31.46% and is now 5.17% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Rockingham County VA, Virginia, US
History of Rockingham County Renter Fraction
| Date | US | Virginia | Rockingham County VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 26.29% |
| 2018 | 36.05% | 34.08% | 22.90% |
| 2017 | 36.13% | 33.43% | 27.68% |
| 2016 | 36.88% | 34.71% | 31.46% |
| 2015 | 36.97% | 34.99% | 27.34% |
| 2014 | 36.90% | 34.67% | 27.66% |
| 2013 | 36.50% | 34.38% | 21.32% |
| 2012 | 36.09% | 33.84% | 22.21% |
| 2011 | 35.42% | 32.67% | 19.45% |
| 2010 | 34.65% | 32.33% | 26.01% |
| 2009 | 34.13% | 31.87% | 27.17% |
| 2007 | 32.80% | 30.49% | 24.73% |
| 2005 | 33.10% | 30.36% | 27.36% |
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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