Charlottesville, Virginia Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Charlottesville, Virginia rental market.
Charlottesville, Virginia
Average Apartment Rent
$2,006
Y-o-Y Change in Average
Apartment Rent
3.6%
As of November 2024
Compared to a year ago, Charlottesville, Virginia apartments have recorded a 3.6% rent increase.
Charlottesville, Virginia Average apartment rent trend
Charlottesville, Virginia Average Apartment Rent
Charlottesville, Virginia Apartment rent ranges
At 41.23%, apartments priced Over $2,000 represent the bulk of Charlottesville, Virginia rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 18.22%.
Charlottesville, Virginia Housing tenure**
Renters take up 58% of Charlottesville, Virginia real estate, occupying a total of 11,249 units, while homeowners live in 8,262 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$41,855
Average household size of renter-occupied housing units**
2.17
Rental vacancy rate**
2.7%
Charlottesville, Virginia Renter-occupied housing units by no. of bedrooms**
There are 3,918 rentals in Charlottesville, Virginia with 2 beds making up the highest share of the market, at 35%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 268 units. Overall, the median number of rooms in Charlottesville, Virginia homes for rent is 4.2.
Charlottesville, Virginia Renter-occupied units by age of householder**
Most condos for rent in Charlottesville, Virginia are occupied by residents in the 25 - 34 years age group (33%), followed by those in the 15 - 24 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Charlottesville, Virginia Renter-occupied housing units by family type**
Charlottesville, Virginia Renter-occupied housing units by the presence of own children**
A total of 3,481 apartments for rent in Charlottesville, Virginia, or 31% of all rentals are family households. Additionally, 16% of rental homes include children under the age of 18 – that’s 1,843 units. All in all, the median size of a renter-occupied household in Charlottesville, Virginia is 2.17.
Charlottesville, Virginia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 55% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Charlottesville, Virginia.
Charlottesville, Virginia Renter-occupied units by year structure built**
The highest share of Charlottesville, Virginia apartment rentals, namely 14% or 1,611 units, were Built 1960 - 1969, followed by those Built 2010 - 2019 (14%, 1,578 units), and the ones Built 1939 or earlier (13%, 1,441 units).
Charlottesville, Virginia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Charlottesville, Virginia renters (41%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Charlottesville, Virginia condos for rent is 2018.
Charlottesville, Virginia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Charlottesville, Virginia renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 18% have No vehicle available.
Charlottesville, Virginia Means of transportation to work of householders living in renter-occupied housing units**
Charlottesville, Virginia Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Charlottesville, Virginia apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
