Department of Numbers

Morgantown West Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Morgantown, WV (the Morgantown metro area) was $758 in 2016 according to the Census ACS survey.1 Average gross rent in Morgantown was $749 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 Morgantown median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Morgantown West Virginia (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
West Virginia Median Gross Rent $682 -0.29% +9.29%
Morgantown, WV Median Gross Rent $758 -13.47% +6.76%

Morgantown, WV Real Gross Rent Trends

Median gross rent for Morgantown peaked in real terms in 2015 at $876 and is now $118 (13.47%) lower. Average gross rent for Morgantown peaked in real terms in 2015 at $896 and is now $147 (16.41%) lower.

Real Gross Rent in Morgantown: Morgantown WV Median, Morgantown WV Average, West Virginia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Morgantown

Date US
Median
West Virginia
Median
Morgantown, WV
Median
Morgantown, WV
Average
2016 $981 $682 $758 $749
2015 $972 $684 $876 $896
2014 $942 $661 $764 $773
2013 $910 $624 $710 $713
2012 $898 $617 $655 $645
2011 $898 $618 $701 $670
2010 $912 $609 $729 $696
2009 $916 $601 $663 $649
2008 $932 $597 $658 $648
2007 $885 $589 $645 $669
2006 $895 $585 $671 $632
2005 $869 $577 $648 $626

Morgantown 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 Morgantown West Virginia was 12.78% according to Census ACS data.

Rental Vacancy Rate in Morgantown West Virginia

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
West Virginia 7.92% +1.10% +0.17%
Morgantown, WV 12.78% +1.94% +8.86%

Trends in Morgantown, WV Rental Vacancy Rate

At 12.78%, Morgantown residential rental vacancy rate in 2016 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Morgantown WV, West Virginia, US

Rental vacancy rate in West Virginia

Historical Rental Vacancy Rate data for Morgantown

Date US West Virginia Morgantown, WV
2016 5.89% 7.92% 12.78%
2015 5.85% 6.82% 10.84%
2014 6.32% 8.91% 12.25%
2013 6.49% 7.75% 3.92%
2012 6.77% 6.82% 3.94%
2011 7.40% 8.13% 2.37%
2010 8.17% 8.96% 2.48%
2009 8.43% 8.76% 4.56%
2008 7.86% 7.42% 4.93%
2007 7.87% 8.79% 7.91%
2006 7.70% 6.09% 5.17%
2005 7.74% 7.58% 5.12%

Rent as a Fraction of Income

Using median household income data for Morgantown, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Morgantown, median monthly gross rent as a fraction of median household income was 18.15% in 2016 according to the ACS.

Morgantown West 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%
West Virginia 18.86% -0.41% +0.83%
Morgantown, WV 18.15% -4.45% +0.14%

Trends in Morgantown, WV Rent as a Fraction of Income

The fraction of median Morgantown household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 22.59%. Since then it has fallen by 4.45% to 18.15%.

Fraction of Income towards Rent: Morgantown WV, West Virginia, US

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

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

Date US West Virginia Morgantown, WV
2016 20.43% 18.86% 18.15%
2015 20.63% 19.28% 22.59%
2014 20.89% 19.17% 21.70%
2013 20.78% 18.04% 18.01%
2012 20.65% 18.12% 19.26%
2011 20.70% 18.68% 18.66%
2010 20.50% 17.93% 18.85%
2009 20.12% 17.69% 21.20%
2008 19.00% 16.68% 16.24%
2007 18.66% 17.00% 17.55%
2006 18.90% 17.08% 19.61%
2005 18.89% 17.33% 20.88%

Renter Fraction in Morgantown West Virginia

You can calculate the renter fraction in Morgantown 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 Morgantown as a fraction of total Morgantown households. In 2016 36.89% of households were renters according to Census ACS data.

Morgantown Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
West Virginia 27.56% -0.13% -0.11%
Morgantown, WV 36.89% -0.30% +1.62%

Trends in the Morgantown, WV Renter Fraction

The Morgantown household renter fraction peaked in in 2012 at 39.87% and is now 2.98% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Morgantown WV, West Virginia, US

Fraction of renters in Morgantown

History of Morgantown Renter Fraction

Date US West Virginia Morgantown, WV
2016 36.88% 27.56% 36.89%
2015 36.97% 27.69% 37.19%
2014 36.90% 27.83% 35.83%
2013 36.50% 27.67% 35.27%
2012 36.09% 28.02% 39.87%
2011 35.42% 27.74% 38.68%
2010 34.65% 25.41% 35.98%
2009 34.13% 26.38% 35.65%
2008 33.36% 26.27% 34.27%
2007 32.80% 25.13% 30.62%
2006 32.73% 25.34% 29.96%
2005 33.10% 24.63% 33.16%

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.