Petersburg, 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 Petersburg, Virginia rental market.
Petersburg, Virginia
Average Apartment Rent
$1,266
Y-o-Y Change in Average
Apartment Rent
2.9%
As of May 2026
Compared to a year ago, Petersburg, Virginia apartments have recorded a 2.9% rent increase.
Petersburg, Virginia Average apartment rent trend
Petersburg, Virginia Average Apartment Rent
Petersburg, Virginia Apartment rent ranges
At 60.41%, apartments priced $1,000 - $1,500 represent the bulk of Petersburg, Virginia rentals, while condos priced $2,000 - $2,500 hold the lowest share of the market – 0.67%.
Petersburg, Virginia Housing tenure**
Renters take up 63% of Petersburg, Virginia real estate, occupying a total of 9,200 units, while homeowners live in 5,503 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$42,669
Average household size of renter-occupied housing units**
2.14
Rental vacancy rate**
8.3%
Petersburg, Virginia Renter-occupied housing units by no. of bedrooms**
There are 3,765 rentals in Petersburg, Virginia with 2 beds making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 117 units. Overall, the median number of rooms in Petersburg, Virginia homes for rent is 4.
Petersburg, Virginia Renter-occupied units by age of householder**
Most condos for rent in Petersburg, Virginia are occupied by residents in the 25 - 34 years age group (30%), followed by those in the 45 - 54 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 – 1%.
Petersburg, Virginia Renter-occupied housing units by family type**
Petersburg, Virginia Renter-occupied housing units by the presence of own children**
A total of 3,461 apartments for rent in Petersburg, Virginia, or 38% of all rentals are family households. Additionally, 23% of rental homes include children under the age of 18 – that’s 2,077 units. All in all, the median size of a renter-occupied household in Petersburg, Virginia is 2.14.
Petersburg, Virginia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 23% of the rental market. In contrast, residents with less than a high school degree reside in 13% of the homes for rent in Petersburg, Virginia.
Petersburg, Virginia Renter-occupied units by year structure built**
The highest share of Petersburg, Virginia apartment rentals, namely 20% or 1,847 units, were Built 1970 - 1979, followed by those Built 1939 or earlier (15%, 1,350 units), and the ones Built 2000 - 2009 (12%, 1,064 units).
Petersburg, Virginia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Petersburg, Virginia renters (42%) moved in 2010 to 2017, while only 3% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Petersburg, Virginia condos for rent is 2017.
Petersburg, Virginia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Petersburg, Virginia renters have 1 vehicle available per household, 21% of them have No vehicle available, and 18% have 2 vehicles available.
Petersburg, Virginia Means of transportation to work of householders living in renter-occupied housing units**
Petersburg, 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 Petersburg, 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
