Virginia renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Virginia is about $1,444 per month. This puts it in the 1st percentile compared to the nation average cost of rent, which is $1,307. Households in Virginia have a median income of $7,606 per month so the average renter in Virginia is spending roughly 19% of their earnings on housing.
Nationally, and in Virginia, home values are the data point most closely correlated with the cost of rent. The median price of a home in Virginia is $323,261 right now, which is lower than nearby states, meaning that rents in Virginia also tend to be lower versus these nearby states.
Higher rent prices are common in the northeastern parts of Virginia while lower rent rates are often available in southwestern areas.
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