Department of Numbers

Chesterfield County Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Chesterfield County VA was $1,201 in 2017 according to the Census ACS survey.1 Average gross rent in Chesterfield County was $1,211 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 Chesterfield County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Chesterfield 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%
Chesterfield County VA Median Gross Rent $1,201 +3.62% +0.42%

Chesterfield County VA Real Gross Rent Trends

At $1,201, real median gross rent in Chesterfield County was at its highest level in 2017 since the series began in 2005. Average gross rent for Chesterfield County peaked in real terms in 2015 at $1,232 and is now $21 (1.70%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Chesterfield County

Date US
Median
Virginia
Median
Chesterfield County VA
Median
Chesterfield County VA
Average
2017 $1,012 $1,179 $1,201 $1,211
2016 $996 $1,177 $1,159 $1,177
2015 $987 $1,177 $1,190 $1,232
2014 $956 $1,143 $1,196 $1,163
2013 $924 $1,109 $1,107 $1,122
2012 $912 $1,102 $1,061 $1,117
2011 $912 $1,112 $1,112 $1,110
2010 $927 $1,104 $1,069 $1,072
2009 $931 $1,093 $1,121 $1,135
2008 $947 $1,073 $1,075 $1,119
2007 $899 $1,016 $1,098 $1,059
2006 $909 $1,008 $1,038 $1,088

Chesterfield 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 Chesterfield County Virginia was 1.73% according to Census ACS data.

Rental Vacancy Rate in Chesterfield County Virginia

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Virginia 6.45% +0.86% +0.66%
Chesterfield County VA 1.73% -2.76% -6.86%

Trends in Chesterfield County VA Rental Vacancy Rate

The rental vacancy rate in Chesterfield County peaked in 2011 at 16.01%. Since then it has fallen by 14.28% to 1.73%. Data records for this series originated in 2005.

Rental Vacancy Rate: Chesterfield County VA, Virginia, US

Rental vacancy rate in Virginia

Historical Rental Vacancy Rate data for Chesterfield County

Date US Virginia Chesterfield County VA
2017 6.18% 6.45% 1.73%
2016 5.89% 5.59% 4.49%
2015 5.85% 5.13% 3.28%
2014 6.32% 5.79% 8.59%
2013 6.49% 6.38% 10.80%
2012 6.77% 6.18% 9.75%
2011 7.40% 7.54% 16.01%
2010 8.17% 7.02% 14.88%
2009 8.43% 7.29% 5.79%
2008 7.86% 6.82% 6.03%
2007 7.87% 7.11% 1.76%
2006 7.70% 6.88% 5.76%

Rent as a Fraction of Income

Using median household income data for Chesterfield County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Chesterfield County, median monthly gross rent as a fraction of median household income was 17.84% in 2017 according to the ACS.

Chesterfield 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%
Chesterfield County VA 17.84% -0.17% -1.40%

Trends in Chesterfield County VA Rent as a Fraction of Income

The fraction of median Chesterfield County household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 19.45%. Since then it has fallen by 1.61% to 17.84%.

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

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

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

Date US Virginia Chesterfield County VA
2017 20.13% 19.78% 17.84%
2016 20.43% 20.42% 18.00%
2015 20.63% 20.72% 18.48%
2014 20.89% 20.63% 19.23%
2013 20.78% 20.80% 19.45%
2012 20.65% 20.76% 17.56%
2011 20.70% 20.59% 17.92%
2010 20.50% 20.15% 17.11%
2009 20.12% 20.00% 17.40%
2008 19.00% 18.30% 15.79%
2007 18.66% 17.97% 16.67%
2006 18.90% 18.04% 15.49%

Renter Fraction in Chesterfield County Virginia

You can calculate the renter fraction in Chesterfield 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 Chesterfield County as a fraction of total Chesterfield County households. In 2017 25.46% of households were renters according to Census ACS data.

Chesterfield 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%
Chesterfield County VA 25.46% +1.31% +0.32%

Trends in the Chesterfield County VA Renter Fraction

The Chesterfield County household renter fraction peaked in in 2015 at 27.38% and is now 1.92% below that level. The origin year for the series is 2005.

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

Fraction of renters in Chesterfield County

History of Chesterfield County Renter Fraction

Date US Virginia Chesterfield County VA
2017 36.13% 33.43% 25.46%
2016 36.88% 34.71% 24.15%
2015 36.97% 34.99% 27.38%
2014 36.90% 34.67% 25.14%
2013 36.50% 34.38% 24.61%
2012 36.09% 33.84% 23.02%
2011 35.42% 32.67% 22.22%
2010 34.65% 32.33% 24.58%
2009 34.13% 31.87% 22.51%
2008 33.36% 31.30% 20.84%
2007 32.80% 30.49% 22.39%
2006 32.73% 30.11% 20.20%

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.