Fredericksburg, 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 Fredericksburg, Virginia rental market.
Highlights
An apartment for rent in Fredericksburg, Virginia typically goes for $1,850 per month, while a single-family home for rent in Fredericksburg, Virginia has a monthly cost of around $2,590. Renter-occupied units make up 62% of the local housing market, while the rental vacancy rate in Fredericksburg, Virginia is at 6.4.
Fredericksburg, Virginia
Average Apartment Rent
$1,850
Y-o-Y Change in Average
Apartment Rent
6.2%
Average Single-Family Rent
$2,590
As of July 2024
Compared to a year ago, Fredericksburg, Virginia apartments have recorded a 6.2% rent increase.
Fredericksburg, Virginia |Average apartment rent trend
Fredericksburg, Virginia| Average apartment rent
Fredericksburg, Virginia | Apartment rent ranges
At 62.64%, apartments priced $1,500 - $2,000 represent the bulk of Fredericksburg, Virginia rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 12.31%.
Fredericksburg, Virginia | Housing tenure**
Renters take up 62% of Fredericksburg, Virginia real estate, occupying a total of 6,940 units, while homeowners live in 4,336 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$64,451
Average household size of renter-occupied housing units**
2.12
Rental vacancy rate**
6.4%
Fredericksburg, Virginia | Renter-occupied housing units by no. of bedrooms**
There are 2,717 rentals in Fredericksburg, Virginia with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 52 units. Overall, the median number of rooms in Fredericksburg, Virginia homes for rent is 4.
Fredericksburg, Virginia |Renter-occupied units by age of householder**
Most condos for rent in Fredericksburg, Virginia are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 35 - 44 years age group (16%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Fredericksburg, Virginia | Renter-occupied housing units by family type**
Fredericksburg, Virginia | Renter-occupied housing units by the presence of own children**
A total of 2,865 apartments for rent in Fredericksburg, Virginia, or 41% of all rentals are family households. Additionally, 22% of rental homes include children under the age of 18 – that’s 1,532 units. All in all, the median size of a renter-occupied household in Fredericksburg, Virginia is 2.12.
Fredericksburg, Virginia | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 38% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Fredericksburg, Virginia.
Fredericksburg, Virginia | Renter-occupied units by year structure built**
The highest share of Fredericksburg, Virginia apartment rentals, namely 20% or 1,417 units, were Built 2010 - 2019, followed by those Built 1990 - 1999 (19%, 1,348 units), and the ones Built 2000 - 2009 (14%, 959 units).
Fredericksburg, Virginia | Renter-occupied units by year householder moved in**
Median year renter moved into unit2019
Most Fredericksburg, Virginia renters (48%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Fredericksburg, Virginia condos for rent is 2019.
Fredericksburg, Virginia | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Fredericksburg, Virginia renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 13% have No vehicle available.
Fredericksburg, Virginia | Means of transportation to work of householders living in renter-occupied housing units**
Fredericksburg, Virginia |Geographical mobility in the past year for householders living in renter-occupied housing units**
Fredericksburg, Virginia | Average apartment rent by zip codes
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 Fredericksburg, 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
