Department of Numbers

Newport News City Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Newport News City VA was $995 in 2017 according to the Census ACS survey.1 Average gross rent in Newport News City was $1,030 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 Newport News City median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Newport News City 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%
Newport News City VA Median Gross Rent $995 -1.09% +4.74%

Newport News City VA Real Gross Rent Trends

Median gross rent for Newport News City peaked in real terms in 2010 at $1,024 and is now $29 (2.83%) lower. Average gross rent for Newport News City peaked in real terms in 2010 at $1,080 and is now $50 (4.63%) lower.

Real Gross Rent: Newport News City VA Median, Newport News City VA Average, Virginia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Newport News City

Date US
Median
Virginia
Median
Newport News City VA
Median
Newport News City VA
Average
2017 $1,012 $1,179 $995 $1,030
2016 $996 $1,177 $1,006 $1,049
2015 $987 $1,177 $979 $991
2014 $956 $1,143 $950 $960
2013 $924 $1,109 $913 $940
2012 $912 $1,102 $1,000 $972
2011 $912 $1,112 $1,010 $1,010
2010 $927 $1,104 $1,024 $1,080
2009 $931 $1,093 $989 $1,001
2008 $947 $1,073 $984 $986
2007 $899 $1,016 $923 $898
2006 $909 $1,008 $896 $894

Newport News City Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Newport News City Virginia was 12.04% according to Census ACS data.

Rental Vacancy Rate in Newport News City Virginia

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Virginia 6.45% +0.86% +0.66%
Newport News City VA

Trends in Newport News City VA Rental Vacancy Rate

At 12.04%, Newport News City residential rental vacancy rate in 2016 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Newport News City VA, Virginia, US

Rental vacancy rate in Virginia

Historical Rental Vacancy Rate data for Newport News City

Date US Virginia Newport News City VA
2017 6.18% 6.45%
2016 5.89% 5.59% 12.04%
2015 5.85% 5.13% 9.14%
2014 6.32% 5.79% 6.24%
2013 6.49% 6.38% 8.89%
2012 6.77% 6.18%
2011 7.40% 7.54% 10.40%
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% 5.28%

Rent as a Fraction of Income

Using median household income data for Newport News City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Newport News City, median monthly gross rent as a fraction of median household income was 24.02% in 2017 according to the ACS.

Newport News City 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%
Newport News City VA 24.02% +0.48% +1.57%

Trends in Newport News City VA Rent as a Fraction of Income

The fraction of median Newport News City household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 24.49%. Since then it has fallen by 0.48% to 24.02%.

Fraction of Income towards Rent: Newport News City VA, Virginia, US

Percent of median household income going towards median monthly gross rent in Newport News City Virginia

Historical Data for Annual Rent as a Fraction of Income in Newport News City Virginia

Date US Virginia Newport News City VA
2017 20.13% 19.78% 24.02%
2016 20.43% 20.42% 23.54%
2015 20.63% 20.72% 23.49%
2014 20.89% 20.63% 22.45%
2013 20.78% 20.80% 21.81%
2012 20.65% 20.76% 24.49%
2011 20.70% 20.59% 23.62%
2010 20.50% 20.15% 22.26%
2009 20.12% 20.00% 21.67%
2008 19.00% 18.30% 20.71%
2007 18.66% 17.97% 21.43%
2006 18.90% 18.04% 20.40%

Renter Fraction in Newport News City Virginia

You can calculate the renter fraction in Newport News 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 Newport News City as a fraction of total Newport News City households. In 2017 50.12% of households were renters according to Census ACS data.

Newport News City 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%
Newport News City VA 50.12% -0.47% -1.82%

Trends in the Newport News City VA Renter Fraction

The Newport News City household renter fraction peaked in in 2015 at 53.13% and is now 3.01% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Newport News City VA, Virginia, US

Fraction of renters in Newport News City

History of Newport News City Renter Fraction

Date US Virginia Newport News City VA
2017 36.13% 33.43% 50.12%
2016 36.88% 34.71% 50.59%
2015 36.97% 34.99% 53.13%
2014 36.90% 34.67% 51.94%
2013 36.50% 34.38% 48.74%
2012 36.09% 33.84% 50.36%
2011 35.42% 32.67% 47.47%
2010 34.65% 32.33% 49.27%
2009 34.13% 31.87% 47.52%
2008 33.36% 31.30% 48.07%
2007 32.80% 30.49% 47.72%
2006 32.73% 30.11% 47.44%

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.