Department of Numbers

Wood County West Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Wood County WV was $719 in 2017 according to the Census ACS survey.1 Average gross rent in Wood County was $640 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 Wood County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Wood County West Virginia (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
West Virginia Median Gross Rent $690 -0.43% +2.68%
Wood County WV Median Gross Rent $719 +4.51% +11.82%

Wood County WV Real Gross Rent Trends

At $719, real median gross rent in Wood County was at its highest level in 2017 since the series began in 2005. Average gross rent for Wood County peaked in real terms in 2016 at $656 and is now $16 (2.44%) lower.

Real Gross Rent: Wood County WV Median, Wood County WV Average, West Virginia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Wood County

Date US
Median
West Virginia
Median
Wood County WV
Median
Wood County WV
Average
2017 $1,012 $690 $719 $640
2016 $996 $693 $688 $656
2015 $987 $694 $664 $615
2014 $956 $672 $643 $585
2013 $924 $633 $619 $581
2012 $912 $626 $594 $562
2011 $912 $627 $605 $591
2010 $927 $619 $629 $599
2009 $931 $610 $612 $607
2008 $947 $606 $649 $596
2007 $899 $598 $582 $531
2006 $909 $594 $637 $603

Wood 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 Wood County West Virginia was 4.71% according to Census ACS data.

Rental Vacancy Rate in Wood County West Virginia

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
West Virginia 8.21% +0.29% -0.70%
Wood County WV 4.71% +0.29%

Trends in Wood County WV Rental Vacancy Rate

The rental vacancy rate in Wood County peaked in 2006 at 8.70%. Since then it has fallen by 3.99% to 4.71%. Data records for this series originated in 2005. From a 2013 post peak low of 2.44%, the rental vacancy rate has increased by 2.27%.

Rental Vacancy Rate: Wood County WV, West Virginia, US

Rental vacancy rate in West Virginia

Historical Rental Vacancy Rate data for Wood County

Date US West Virginia Wood County WV
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%
2008 7.86% 7.42% 6.53%
2007 7.87% 8.79% 7.76%
2006 7.70% 6.09% 8.70%

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 19.56% in 2017 according to the ACS.

Wood County West 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%
West Virginia 19.05% +0.18% -0.12%
Wood County WV 19.56% +2.86% +1.62%

Trends in Wood County WV Rent as a Fraction of Income

Wood County renters paid 19.56% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Wood County WV, West Virginia, US

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

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

Date US West Virginia Wood County WV
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%
2008 19.00% 16.68% 15.99%
2007 18.66% 17.00% 15.30%
2006 18.90% 17.08% 17.57%

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 2017 30.87% of households were renters according to Census ACS data.

Wood County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
West Virginia 27.46% -0.10% -0.37%
Wood County WV 30.87% -0.12% +0.27%

Trends in the Wood County WV Renter Fraction

The Wood County household renter fraction peaked in in 2015 at 32.34% and is now 1.47% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Wood County WV, West Virginia, US

Fraction of renters in Wood County

History of Wood County Renter Fraction

Date US West Virginia Wood County WV
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%
2008 33.36% 26.27% 27.42%
2007 32.80% 25.13% 27.43%
2006 32.73% 25.34% 28.41%

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.