Department of Numbers

Winchester Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Winchester, VA (the Winchester metro area) was $1,034 in 2016 according to the Census ACS survey.1 Average gross rent in Winchester was $930 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Winchester median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Winchester Virginia (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Virginia Median Gross Rent $1,159 0.00% +6.14%
Winchester, VA Median Gross Rent $1,034 +10.00% +15.53%

Winchester, VA Real Gross Rent Trends

At $1,034, real median gross rent in Winchester was at its highest level in 2016 since the series began in 2005. Average gross rent for Winchester peaked in real terms in 2007 at $953 and is now $23 (2.41%) lower. From a recent low of 717.0 in 2012, real average gross rent has now increased by $213 (29.71%).

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Winchester

Date US
Median
Virginia
Median
Winchester, VA
Median
Winchester, VA
Average
2016 $981 $1,159 $1,034 $930
2015 $972 $1,159 $940 $944
2014 $942 $1,125 $880 $849
2013 $910 $1,092 $895 $795
2012 $898 $1,085 $814 $717
2011 $898 $1,095 $857 $754
2010 $912 $1,087 $858 $785
2009 $916 $1,076 $979 $895
2008 $932 $1,056 $890 $860
2007 $885 $1,001 $1,028 $953
2006 $895 $992 $946 $856
2005 $869 $969 $948 $929

Winchester 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 Winchester Virginia was 9.45% according to Census ACS data.

Rental Vacancy Rate in Winchester Virginia

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Virginia 5.59% +0.46% -0.79%
Winchester, VA 9.45% +6.18% +2.97%

Trends in Winchester, VA Rental Vacancy Rate

The rental vacancy rate in Winchester peaked in 2007 at 14.99%. Since then it has fallen by 5.54% to 9.45%. Data records for this series originated in 2005. From a 2015 post peak low of 3.27%, the rental vacancy rate has increased by 6.18%.

Rental Vacancy Rate: Winchester VA, Virginia, US

Rental vacancy rate in Virginia

Historical Rental Vacancy Rate data for Winchester

Date US Virginia Winchester, VA
2016 5.89% 5.59% 9.45%
2015 5.85% 5.13% 3.27%
2014 6.32% 5.79% 4.93%
2013 6.49% 6.38% 6.48%
2012 6.77% 6.18% 3.35%
2011 7.40% 7.54% 4.42%
2010 8.17% 7.02% 6.55%
2009 8.43% 7.29% 7.60%
2008 7.86% 6.82% 6.81%
2007 7.87% 7.11% 14.99%
2006 7.70% 6.88% 7.80%
2005 7.74% 7.20% 5.70%

Rent as a Fraction of Income

Using median household income data for Winchester, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Winchester, median monthly gross rent as a fraction of median household income was 20.35% in 2016 according to the ACS.

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

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Virginia 20.42% -0.30% -0.38%
Winchester, VA 20.35% +2.02% +0.95%

Trends in Winchester, VA Rent as a Fraction of Income

The fraction of median Winchester household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 22.24%. Since then it has fallen by 1.89% to 20.35%. From a 2015 low of 18.33%, the fraction of income going to rent has increased by 2.02%.

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

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

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

Date US Virginia Winchester, VA
2016 20.43% 20.42% 20.35%
2015 20.63% 20.72% 18.33%
2014 20.89% 20.63% 19.93%
2013 20.78% 20.80% 19.40%
2012 20.65% 20.76% 20.09%
2011 20.70% 20.59% 19.64%
2010 20.50% 20.15% 20.69%
2009 20.12% 20.00% 22.24%
2008 19.00% 18.30% 18.52%
2007 18.66% 17.97% 19.68%
2006 18.90% 18.04% 20.48%
2005 18.89% 17.96% 19.16%

Renter Fraction in Winchester Virginia

You can calculate the renter fraction in Winchester 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 Winchester as a fraction of total Winchester households. In 2016 28.04% of households were renters according to Census ACS data.

Winchester Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Virginia 34.71% -0.28% +0.33%
Winchester, VA 28.04% -3.08% -7.49%

Trends in the Winchester, VA Renter Fraction

The Winchester household renter fraction peaked in in 2013 at 35.53% and is now 7.49% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Winchester VA, Virginia, US

Fraction of renters in Winchester

History of Winchester Renter Fraction

Date US Virginia Winchester, VA
2016 36.88% 34.71% 28.04%
2015 36.97% 34.99% 31.12%
2014 36.90% 34.67% 33.44%
2013 36.50% 34.38% 35.53%
2012 36.09% 33.84% 33.56%
2011 35.42% 32.67% 35.34%
2010 34.65% 32.33% 34.47%
2009 34.13% 31.87% 30.24%
2008 33.36% 31.30% 30.92%
2007 32.80% 30.49% 26.68%
2006 32.73% 30.11% 24.21%
2005 33.10% 30.36% 27.63%

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.