Department of Numbers

Bedford County Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Bedford County VA was $777 in 2017 according to the Census ACS survey.1 Average gross rent in Bedford County was $827 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Bedford County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Bedford County Virginia (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Virginia Median Gross Rent $1,179 +0.17% +3.15%
Bedford County VA Median Gross Rent $777 +6.29% -11.30%

Bedford County VA Real Gross Rent Trends

Median gross rent for Bedford County peaked in real terms in 2009 at $883 and is now $106 (12.00%) lower. At $827, real average gross rent in Bedford County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Bedford County VA Median, Bedford County VA Average, Virginia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bedford County

Date US
Median
Virginia
Median
Bedford County VA
Median
Bedford County VA
Average
2017 $1,012 $1,179 $777 $827
2016 $996 $1,177 $731 $660
2015 $987 $1,177 $759 $701
2014 $956 $1,143 $876 $759
2013 $924 $1,109 $834 $797
2012 $912 $1,102 $752 $752
2011 $912 $1,112 $858 $680
2010 $927 $1,104 $781 $681
2009 $931 $1,093 $883 $805
2008 $947 $1,073 $691 $695
2007 $899 $1,016 $681 $573
2006 $909 $1,008 $645 $547

Historical Rental Vacancy Rate data for Bedford County

Date US Virginia Bedford County VA
2017 6.18% 6.45%
2016 5.89% 5.59%
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%
2008 7.86% 6.82%
2007 7.87% 7.11%
2006 7.70% 6.88%

Rent as a Fraction of Income

Using median household income data for Bedford County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bedford County, median monthly gross rent as a fraction of median household income was 14.06% in 2017 according to the ACS.

Bedford County Virginia Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Virginia 19.78% -0.64% -0.86%
Bedford County VA 14.06% -1.24% -3.96%

Trends in Bedford County VA Rent as a Fraction of Income

The fraction of median Bedford County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 18.40%. Since then it has fallen by 4.34% to 14.06%.

Fraction of Income towards Rent: Bedford County VA, Virginia, US

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

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

Date US Virginia Bedford County VA
2017 20.13% 19.78% 14.06%
2016 20.43% 20.42% 15.30%
2015 20.63% 20.72% 16.38%
2014 20.89% 20.63% 18.02%
2013 20.78% 20.80% 17.20%
2012 20.65% 20.76% 15.18%
2011 20.70% 20.59% 16.39%
2010 20.50% 20.15% 17.66%
2009 20.12% 20.00% 18.40%
2008 19.00% 18.30% 13.59%
2007 18.66% 17.97% 13.42%
2006 18.90% 18.04% 13.06%

Renter Fraction in Bedford County Virginia

You can calculate the renter fraction in Bedford 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 Bedford County as a fraction of total Bedford County households. In 2017 16.19% of households were renters according to Census ACS data.

Bedford County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Virginia 33.43% -1.28% -1.24%
Bedford County VA 16.19% -2.66% -1.36%

Trends in the Bedford County VA Renter Fraction

The Bedford County household renter fraction peaked in in 2015 at 21.95% and is now 5.76% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bedford County VA, Virginia, US

Fraction of renters in Bedford County

History of Bedford County Renter Fraction

Date US Virginia Bedford County VA
2017 36.13% 33.43% 16.19%
2016 36.88% 34.71% 18.85%
2015 36.97% 34.99% 21.95%
2014 36.90% 34.67% 17.55%
2013 36.50% 34.38% 14.84%
2012 36.09% 33.84% 15.92%
2011 35.42% 32.67% 14.54%
2010 34.65% 32.33% 16.04%
2009 34.13% 31.87% 12.95%
2008 33.36% 31.30% 18.71%
2007 32.80% 30.49% 19.48%
2006 32.73% 30.11% 15.96%

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.