Department of Numbers

Blacksburg Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Blacksburg, VA (the Blacksburg-Christiansburg-Radford metro area) was $846 in 2015 according to the Census ACS survey.1 Average gross rent in Blacksburg was $876 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Blacksburg median and average rent data will be released in September of 2017.

Data is also available below for Blacksburg rental vacancy rates, Blacksburg rent as a percent of median income and the fraction of renters in Blacksburg.

Show dollars as: Nominal Real

Real Gross Rent in Blacksburg Virginia (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Virginia Median Gross Rent $1,144 +2.97% +6.82%
Blacksburg, VA Median Gross Rent $846 +8.74% +20.51%

Blacksburg, VA Real Gross Rent Trends

At $846, real median gross rent in Blacksburg was at its highest level in 2015 since the series began in 2005. At $876, real average gross rent in Blacksburg was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Blacksburg: Blacksburg VA Median, Blacksburg VA Average, Virginia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Blacksburg

Date US
Median
Virginia
Median
Blacksburg, VA
Median
Blacksburg, VA
Average
2015 $959 $1,144 $846 $876
2014 $930 $1,111 $778 $787
2013 $898 $1,078 $776 $774
2012 $886 $1,071 $702 $704
2011 $887 $1,081 $720 $780
2010 $901 $1,073 $790 $788
2009 $905 $1,063 $747 $797
2008 $920 $1,043 $700 $720
2007 $874 $988 $684 $733
2006 $883 $979 $696 $713
2005 $858 $957 $682 $685

Blacksburg Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Blacksburg Virginia was 6.08% according to Census ACS data.

Rental Vacancy Rate in Blacksburg Virginia

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Virginia 5.13% -0.66% -1.05%
Blacksburg, VA 6.08% -0.09% +2.66%

Trends in Blacksburg, VA Rental Vacancy Rate

The rental vacancy rate in Blacksburg peaked in 2005 at 7.80%. Since then it has fallen by 1.72% to 6.08%. Data records for this series originated in 2005. From a 2008 post peak low of 1.23%, the rental vacancy rate has increased by 4.85%.

Rental Vacancy Rate: Blacksburg VA, Virginia, US

Rental vacancy rate in Virginia

Historical Rental Vacancy Rate data for Blacksburg

Date US Virginia Blacksburg, VA
2015 5.85% 5.13% 6.08%
2014 6.32% 5.79% 6.17%
2013 6.49% 6.38% 5.68%
2012 6.77% 6.18% 3.42%
2011 7.40% 7.54% 4.59%
2010 8.17% 7.02% 3.47%
2009 8.43% 7.29% 4.82%
2008 7.86% 6.82% 1.23%
2007 7.87% 7.11% 3.87%
2006 7.70% 6.88% 4.20%
2005 7.74% 7.20% 7.80%

Rent as a Fraction of Income

Using median household income data for Blacksburg, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Blacksburg, median monthly gross rent as a fraction of median household income was 19.93% in 2015 according to the ACS.

Blacksburg Virginia Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Virginia 20.72% +0.08% -0.04%
Blacksburg, VA 19.93% -1.54% +0.14%

Trends in Blacksburg, VA Rent as a Fraction of Income

The fraction of median Blacksburg household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.43%. Since then it has fallen by 2.50% to 19.93%.

Fraction of Income towards Rent: Blacksburg VA, Virginia, US

Percent of median household income going towards median monthly gross rent in Blacksburg Virginia

Historical Data for Annual Rent as a Fraction of Income in Blacksburg Virginia

Date US Virginia Blacksburg, VA
2015 20.63% 20.72% 19.93%
2014 20.89% 20.63% 21.47%
2013 20.78% 20.80% 22.21%
2012 20.65% 20.76% 19.79%
2011 20.70% 20.59% 20.72%
2010 20.50% 20.15% 22.43%
2009 20.12% 20.00% 20.53%
2008 19.00% 18.30% 18.17%
2007 18.66% 17.97% 18.79%
2006 18.90% 18.04% 19.76%
2005 18.89% 17.96% 20.94%

Renter Fraction in Blacksburg Virginia

You can calculate the renter fraction in Blacksburg 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 Blacksburg as a fraction of total Blacksburg households. In 2015 38.23% of households were renters according to Census ACS data.

Blacksburg Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Virginia 34.99% +0.32% +1.15%
Blacksburg, VA 38.23% -0.65% -3.52%

Trends in the Blacksburg, VA Renter Fraction

The Blacksburg household renter fraction peaked in in 2012 at 41.75% and is now 3.52% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Blacksburg VA, Virginia, US

Fraction of renters in Blacksburg

History of Blacksburg Renter Fraction

Date US Virginia Blacksburg, VA
2015 36.97% 34.99% 38.23%
2014 36.90% 34.67% 38.88%
2013 36.50% 34.38% 39.01%
2012 36.09% 33.84% 41.75%
2011 35.42% 32.67% 41.08%
2010 34.65% 32.33% 35.68%
2009 34.13% 31.87% 41.21%
2008 33.36% 31.30% 37.59%
2007 32.80% 30.49% 38.21%
2006 32.73% 30.11% 38.20%
2005 33.10% 30.36% 38.82%

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.