How many renters live in Virginia?
The State of Virginia has 14,089 people living in 5,543 households.
There are 3,002 renters living in 1,262 renter households in this State. Renters make up 21.31 percent of the population living in Virginia.
What is the rental market like in Virginia?
There are an estimated 7,367 housing units in the Virginia area. Of these, 1,398 units are rental homes, making up 19 percent of the housing market. For every renter household in Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Virginia?
The rental vacancy rate in Virginia is 10 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Virginia for each bedroom size?
Occupied Rental Units by Size in Virginia
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 9 | 88 | 546 | 541 | 78 |
Occupied Rental Units by Size in Virginia
A large number of apartments in Virginia have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Virginia are overburdened by housing costs?
Among renter households in this market, 40 percent have housing cost burden. Further, 21 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How many units are rented at Fair Market Rent (FMR) in Virginia?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 0 | 100 percent |
| One BR | 45 | 51 percent |
| Two BR | 289 | 53 percent |
Rental Units Below FMR in Virginia
How many affordable rental units are in Virginia?
There are a variety of federal affordable housing programs serving households in Virginia including the following:
| Federal Program | Unit Count |
| Public Housing | 92 |
| USDA Section 515 Rural Rental Housing | 47 |
Tracked Units by Federal Program in Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Virginia
Virginia features 62,046 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Virginia
There are 69,838 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Virginia.
Housing Choice Vouchers in Virginia
On average, Section 8 Housing Choice vouchers pay Virginia landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Virginia.
The maximum amount a voucher would pay on behalf of a low-income tenant in Virginia for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
