Wood County West Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Wood County WV was $648 in 2019 according to the Census ACS survey.1 Average gross rent in Wood County was $565 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Wood County median and average rent data will be released in September of 2021.
Data is also available below for Wood County rental vacancy rates, Wood County rent as a percent of median income and the fraction of renters in Wood County.
Real Gross Rent in Wood County West Virginia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| West Virginia Median Gross Rent | $727 | -2.81% | +1.82% |
| Wood County WV Median Gross Rent | $648 | -13.02% | -8.60% |
Wood County WV Real Gross Rent Trends
Median gross rent for Wood County peaked in real terms in 2018 at $745 and is now $97 (13.02%) lower. Average gross rent for Wood County peaked in real terms in 2016 at $676 and is now $111 (16.42%) lower.
Real Gross Rent: Wood County WV Median, Wood County WV Average, West Virginia Median, US Median
Real Gross Rent History for Wood County
| Date | US Median |
West Virginia Median |
Wood County WV Median |
Wood County WV Average |
|---|---|---|---|---|
| 2019 | $1,097 | $727 | $648 | $565 |
| 2018 | $1,077 | $748 | $745 | $665 |
| 2017 | $1,043 | $711 | $741 | $660 |
| 2016 | $1,027 | $714 | $709 | $676 |
| 2015 | $1,017 | $716 | $684 | $634 |
| 2014 | $986 | $693 | $663 | $603 |
| 2013 | $953 | $653 | $638 | $599 |
| 2012 | $940 | $646 | $613 | $580 |
| 2011 | $941 | $647 | $624 | $609 |
| 2010 | $955 | $638 | $648 | $618 |
| 2009 | $960 | $629 | $631 | $626 |
| 2007 | $927 | $617 | $600 | $547 |
| 2005 | $910 | $604 | $644 | $613 |
Wood County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Wood County West Virginia was 10.79% according to Census ACS data.
Rental Vacancy Rate in Wood County West Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| West Virginia | 7.24% | +0.40% | -0.68% |
| Wood County WV | 10.79% | +3.36% | +6.37% |
Trends in Wood County WV Rental Vacancy Rate
At 10.79%, Wood County residential rental vacancy rate in 2019 is at the highest point since 2005, the beginning of our reporting for this series.
Rental Vacancy Rate: Wood County WV, West Virginia, US
Historical Rental Vacancy Rate data for Wood County
| Date | US | West Virginia | Wood County WV |
|---|---|---|---|
| 2019 | 5.97% | 7.24% | 10.79% |
| 2018 | 6.15% | 6.84% | 7.43% |
| 2017 | 6.18% | 8.21% | 4.71% |
| 2016 | 5.89% | 7.92% | 4.42% |
| 2015 | 5.85% | 6.82% | — |
| 2014 | 6.32% | 8.91% | — |
| 2013 | 6.49% | 7.75% | 2.44% |
| 2012 | 6.77% | 6.82% | — |
| 2011 | 7.40% | 8.13% | 5.72% |
| 2010 | 8.17% | 8.96% | 7.71% |
| 2009 | 8.43% | 8.76% | 7.62% |
| 2007 | 7.87% | 8.79% | 7.76% |
| 2005 | 7.74% | 7.58% | — |
Rent as a Fraction of Income
Using median household income data for Wood County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wood County, median monthly gross rent as a fraction of median household income was 16.22% in 2019 according to the ACS.
Wood County West Virginia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| West Virginia | 17.86% | -2.14% | -1.00% |
| Wood County WV | 16.22% | -3.94% | -0.48% |
Trends in Wood County WV Rent as a Fraction of Income
The fraction of median Wood County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 20.16%. Since then it has fallen by 3.94% to 16.22%.
Fraction of Income towards Rent: Wood County WV, West Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Wood County West Virginia
| Date | US | West Virginia | Wood County WV |
|---|---|---|---|
| 2019 | 20.03% | 17.86% | 16.22% |
| 2018 | 20.50% | 20.00% | 20.16% |
| 2017 | 20.13% | 19.05% | 19.56% |
| 2016 | 20.43% | 18.86% | 16.70% |
| 2015 | 20.63% | 19.28% | 19.35% |
| 2014 | 20.89% | 19.17% | 17.94% |
| 2013 | 20.78% | 18.04% | 17.56% |
| 2012 | 20.65% | 18.12% | 16.13% |
| 2011 | 20.70% | 18.68% | 18.77% |
| 2010 | 20.50% | 17.93% | 17.54% |
| 2009 | 20.12% | 17.69% | 16.87% |
| 2007 | 18.66% | 17.00% | 15.30% |
| 2005 | 18.89% | 17.33% | 19.05% |
Renter Fraction in Wood County West Virginia
You can calculate the renter fraction in Wood 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 Wood County as a fraction of total Wood County households. In 2019 26.04% of households were renters according to Census ACS data.
Wood County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| West Virginia | 26.59% | -0.91% | -0.97% |
| Wood County WV | 26.04% | -1.68% | -4.95% |
Trends in the Wood County WV Renter Fraction
The Wood County household renter fraction peaked in in 2015 at 32.34% and is now 6.30% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Wood County WV, West Virginia, US
History of Wood County Renter Fraction
| Date | US | West Virginia | Wood County WV |
|---|---|---|---|
| 2019 | 35.89% | 26.59% | 26.04% |
| 2018 | 36.05% | 27.50% | 27.72% |
| 2017 | 36.13% | 27.46% | 30.87% |
| 2016 | 36.88% | 27.56% | 30.99% |
| 2015 | 36.97% | 27.69% | 32.34% |
| 2014 | 36.90% | 27.83% | 30.60% |
| 2013 | 36.50% | 27.67% | 29.68% |
| 2012 | 36.09% | 28.02% | 29.36% |
| 2011 | 35.42% | 27.74% | 26.22% |
| 2010 | 34.65% | 25.41% | 24.77% |
| 2009 | 34.13% | 26.38% | 26.18% |
| 2007 | 32.80% | 25.13% | 27.43% |
| 2005 | 33.10% | 24.63% | 26.85% |
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. ↩
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