Suffolk City Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Suffolk City VA was $1,241 in 2019 according to the Census ACS survey.1 Average gross rent in Suffolk City was $1,241 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 Suffolk City median and average rent data will be released in September of 2021.
Data is also available below for Suffolk City rental vacancy rates, Suffolk City rent as a percent of median income and the fraction of renters in Suffolk City.
Real Gross Rent in Suffolk 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% |
| Suffolk City VA Median Gross Rent | $1,241 | +5.44% | +8.10% |
Suffolk City VA Real Gross Rent Trends
At $1,241, real median gross rent in Suffolk City was at its highest level in 2019 since the series began in 2005. At $1,241, real average gross rent in Suffolk City was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Suffolk City VA Median, Suffolk City VA Average, Virginia Median, US Median
Real Gross Rent History for Suffolk City
| Date | US Median |
Virginia Median |
Suffolk City VA Median |
Suffolk City VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $1,241 | $1,241 |
| 2018 | $1,077 | $1,237 | $1,177 | $1,161 |
| 2017 | $1,043 | $1,216 | $1,084 | $1,010 |
| 2016 | $1,027 | $1,214 | $1,148 | $1,172 |
| 2015 | $1,017 | $1,214 | $1,056 | $1,084 |
| 2014 | $986 | $1,178 | $1,111 | $1,076 |
| 2013 | $953 | $1,144 | $1,016 | $1,056 |
| 2012 | $940 | $1,136 | $966 | $938 |
| 2011 | $941 | $1,147 | $1,115 | $1,076 |
| 2010 | $955 | $1,139 | $1,081 | $1,105 |
| 2009 | $960 | $1,127 | $1,035 | $989 |
| 2007 | $927 | $1,048 | $854 | $920 |
| 2005 | $910 | $1,015 | $794 | $856 |
Suffolk City 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 Suffolk City Virginia was 6.74% according to Census ACS data.
Rental Vacancy Rate in Suffolk City Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Suffolk City VA | — | — | — |
Trends in Suffolk City VA Rental Vacancy Rate
At 6.74%, Suffolk City residential rental vacancy rate in 2017 is at the highest point since 2005, the beginning of our reporting for this series.
Rental Vacancy Rate: Suffolk City VA, Virginia, US
Historical Rental Vacancy Rate data for Suffolk City
| Date | US | Virginia | Suffolk City VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | — |
| 2018 | 6.15% | 5.17% | — |
| 2017 | 6.18% | 6.45% | 6.74% |
| 2016 | 5.89% | 5.59% | — |
| 2015 | 5.85% | 5.13% | — |
| 2014 | 6.32% | 5.79% | 4.58% |
| 2013 | 6.49% | 6.38% | — |
| 2012 | 6.77% | 6.18% | 4.35% |
| 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 Suffolk City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Suffolk City, median monthly gross rent as a fraction of median household income was 18.50% in 2019 according to the ACS.
Suffolk 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% |
| Suffolk City VA | 18.50% | -0.81% | -1.22% |
Trends in Suffolk City VA Rent as a Fraction of Income
The fraction of median Suffolk City household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.34%. Since then it has fallen by 1.83% to 18.50%.
Fraction of Income towards Rent: Suffolk City VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Suffolk City Virginia
| Date | US | Virginia | Suffolk City VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 18.50% |
| 2018 | 20.50% | 20.09% | 19.31% |
| 2017 | 20.13% | 19.78% | 17.95% |
| 2016 | 20.43% | 20.42% | 19.73% |
| 2015 | 20.63% | 20.72% | 19.51% |
| 2014 | 20.89% | 20.63% | 20.34% |
| 2013 | 20.78% | 20.80% | 19.10% |
| 2012 | 20.65% | 20.76% | 16.66% |
| 2011 | 20.70% | 20.59% | 19.25% |
| 2010 | 20.50% | 20.15% | 16.75% |
| 2009 | 20.12% | 20.00% | 19.09% |
| 2007 | 18.66% | 17.97% | 14.68% |
| 2005 | 18.89% | 17.96% | 12.60% |
Renter Fraction in Suffolk City Virginia
You can calculate the renter fraction in Suffolk 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 Suffolk City as a fraction of total Suffolk City households. In 2019 31.71% of households were renters according to Census ACS data.
Suffolk 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% |
| Suffolk City VA | 31.71% | +1.74% | -2.03% |
Trends in the Suffolk City VA Renter Fraction
The Suffolk City household renter fraction peaked in in 2016 at 33.74% and is now 2.03% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Suffolk City VA, Virginia, US
History of Suffolk City Renter Fraction
| Date | US | Virginia | Suffolk City VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 31.71% |
| 2018 | 36.05% | 34.08% | 29.97% |
| 2017 | 36.13% | 33.43% | 33.12% |
| 2016 | 36.88% | 34.71% | 33.74% |
| 2015 | 36.97% | 34.99% | 32.46% |
| 2014 | 36.90% | 34.67% | 32.22% |
| 2013 | 36.50% | 34.38% | 30.57% |
| 2012 | 36.09% | 33.84% | 28.75% |
| 2011 | 35.42% | 32.67% | 26.92% |
| 2010 | 34.65% | 32.33% | 25.49% |
| 2009 | 34.13% | 31.87% | 23.45% |
| 2007 | 32.80% | 30.49% | 32.76% |
| 2005 | 33.10% | 30.36% | 25.90% |
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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