Lake Ridge, 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 Lake Ridge, Virginia rental market.
Lake Ridge, Virginia
Average Apartment Rent
$1,990
Y-o-Y Change in Average
Apartment Rent
2.3%
As of May 2026
Compared to a year ago, Lake Ridge, Virginia apartments have recorded a 2.3% rent increase.
Lake Ridge, Virginia Average apartment rent trend
Lake Ridge, Virginia Average Apartment Rent
Lake Ridge, Virginia Apartment rent ranges
At 52.85%, apartments priced $1,500 - $2,000 represent the bulk of Lake Ridge, Virginia rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 1.36%.
Lake Ridge, Virginia Housing tenure**
Renters take up 25% of Lake Ridge, Virginia real estate, occupying a total of 3,896 units, while homeowners live in 11,791 properties.
Median number of rooms of renter-occupied housing units**
4.8
Renter median household income**
$93,121
Average household size of renter-occupied housing units**
2.4
Rental vacancy rate**
6.1%
Lake Ridge, Virginia Renter-occupied housing units by no. of bedrooms**
There are 1,214 rentals in Lake Ridge, Virginia with 2 beds making up the highest share of the market, at 31%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 87 units. Overall, the median number of rooms in Lake Ridge, Virginia homes for rent is 4.8.
Lake Ridge, Virginia Renter-occupied units by age of householder**
Most condos for rent in Lake Ridge, Virginia are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 2%.
Lake Ridge, Virginia Renter-occupied housing units by family type**
Lake Ridge, Virginia Renter-occupied housing units by the presence of own children**
A total of 2,287 apartments for rent in Lake Ridge, Virginia, or 59% of all rentals are family households. Additionally, 36% of rental homes include children under the age of 18 – that’s 1,400 units. All in all, the median size of a renter-occupied household in Lake Ridge, Virginia is 2.4.
Lake Ridge, Virginia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 46% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Lake Ridge, Virginia.
Lake Ridge, Virginia Renter-occupied units by year structure built**
The highest share of Lake Ridge, Virginia apartment rentals, namely 39% or 1,505 units, were Built 1980 - 1989, followed by those Built 1990 - 1999 (25%, 968 units), and the ones Built 2010 - 2019 (10%, 407 units).
Lake Ridge, Virginia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Lake Ridge, Virginia renters (48%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Lake Ridge, Virginia condos for rent is 2017.
Lake Ridge, Virginia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Lake Ridge, Virginia renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 11% have 3 vehicles available.
Lake Ridge, Virginia Means of transportation to work of householders living in renter-occupied housing units**
Lake Ridge, 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 Lake Ridge, 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
