Landlord's lament: Dwindling demand has caused the industry to stall

Over the five years to 2018, the Apartment Rental industry in Virginia has largely stagnated. While industry performance has been aided by a decreasing rental vacancy rate, demonstrating a rise in demand for rental housing, the state industry's performance has faltered amid relatively weaker employment growth in the state. Moreover, industry revenue growth has been hindered by rising homeownership rates in the state in recent years. Over the five years to 2023, the industry is anticipated to continue to decline slightly. The rental vacancy rate is expected to rise, which indicates that supply conditions may surpass demand...purchase to read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 13-18
-0.2%
Forecast Growth 18-23
Profit
Employment
24,069
Businesses
16,873

Industry Threats & Opportunities

  • The state industry’s performance has faltered amid relatively weaker employment growth in the state
  • Additional Insights for the Apartment Rental in Virginia Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Apartment Rental in Virginia Industry are

  • Financial structure of the company
  • Management of a high-quality assets portfolio
  • Superior financial management and debt management
  • IBISWorld analysts also discuss how external factors such as Homeownership rate and Rental vacancy rates in the Apartment Rental in Virginia industry impact industry performance..

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    What's in this report

    What is the Apartment Rental in Virginia Industry?

    Operators in this industry act as lessors of buildings used as residences or dwellings. Industry participants are owner-lessors of residential buildings and establishments that rent real estate and then act as lessors by subleasing it to others. In addition to apartment rentals, the industry also includes single-family homes and town houses.

    Industry Products
  • Rental of one-unit structures (attached and detached)
  • Rental of two- to four-unit structures
  • Rental of five- to nine-unit structures
  • Rental of 10- to 19-unit structures
  • Rental of 20- to 49-unit structures
  • Rental of 50- or more unit structures
  • Other rentals
  • Industry Activities
  • Renting or leasing residential buildings
  • Renting or leasing residential dwellings
  • Similar Industries
  • Commercial Leasing
  • Storage & Warehouse Leasing
  • Land Leasing
  • Property Management
  • Apartment Rental in California
  • Commercial Leasing in California
  • Storage & Warehouse Leasing in California
  • Apartment Rental in New York
  • Commercial Leasing in New York
  • Storage & Warehouse Leasing in New York
  • Apartment Rental in Illinois
  • Commercial Leasing in Illinois
  • Commercial Leasing in Texas
  • Apartment Rental in Texas
  • Apartment Rental in Florida
  • Commercial Leasing in Florida
  • Apartment Rental in Massachusetts
  • Commercial Leasing in Massachusetts
  • Commercial Leasing in Ohio
  • Apartment Rental in Ohio
  • Apartment Rental in Pennsylvania
  • Commercial Leasing in Pennsylvania
  • Apartment Rental in New Jersey
  • Commercial Leasing in New Jersey
  • Commercial Real Estate in New Jersey
  • Apartment Rental in Georgia
  • Commercial Leasing in Georgia
  • Commercial Real Estate in Georgia
  • Apartment Rental in Michigan
  • Commercial Leasing in Michigan
  • Commercial Real Estate in Michigan
  • Apartment Rental in Wisconsin
  • Commercial Leasing in Wisconsin
  • Commercial Real Estate in Wisconsin
  • Apartment Rental in Washington
  • Commercial Leasing in Washington
  • Commercial Real Estate in Washington
  • Commercial Leasing in Virginia
  • Apartment Rental in Tennessee
  • Commercial Leasing in Tennessee
  • Apartment Rental in Missouri
  • Commercial Leasing in Missouri
  • Apartment Rental in North Carolina
  • Commercial Leasing in North Carolina
  • Storage & Warehouse Leasing in North Carolina
  • Apartment Rental in Minnesota
  • Commercial Leasing in Minnesota
  • Commercial Real Estate in Minnesota
  • Apartment Rental in Maryland
  • Commercial Leasing in Maryland
  • Commercial Real Estate in Maryland
  • Apartment Rental in Colorado
  • Commercial Leasing in Colorado
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Homeownership rate
  • Rental vacancy rates
  • Urban population
  • Yield on 10-year Treasury note

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Apartment Rental in Virginia Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Finance and Insurance
  • Retirement & Pension Plans

  • Key Selling Industries
  • Construction
  • Finance and Insurance
  • Landscaping Services
  • Property Management
  • Real Estate Sales & Brokerage
  • Utilities

  • Products & Services
  • Rental of one-unit structures (attached and detached)
  • Other rentals
  • Rental of 50- or more unit structures
  • Rental of 10- to 19-unit structures
  • Rental of five- to nine-unit structures
  • Rental of two- to four-unit structures
  • Rental of 20- to 49-unit structures
  • Chart: Apartment Rental in Virginia Industry Products and Services Segmentation

  • Major Markets
  • Single-person households
  • Two-person households
  • Four-or-more-person households
  • Three-person households
  • Chart: Major Market Segmentation for the Apartment Rental in Virginia Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Apartment Rental in Virginia

  • Basis of Competition
    Barriers to Entry
    Long & Foster Real Estate Inc., Century 21 New Millennium, Coldwell Banker Residential Brokerage, TTR Sotheby’s International Realty,
  • Table: Long & Foster Real Estate Inc. - financial performance
  • Table: Century 21 New Millennium - financial performance
  • Table: Coldwell Banker Residential Brokerage - financial performance
  • Table: TTR Sotheby’s International Realty - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Apartment Rental in Virginia Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Apartment Rental in Virginia Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Rental Vacancy Rate (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Dwelling
  • Another name for an apartment or home.
  • Funds From Operations
  • Funds used to define cash flow from operations for REITs that are calculated by adding depreciation and amortization expenses to earnings.
  • Leadership In Energy And Environment Design (Leed)
  • An eco-oriented building certificate program established under the US Green Building Council. LEED-certified buildings are energy efficient and green certified.
  • Occupancy Rate
  • The amount of occupied real estate space as a percentage of total available space.
  • Real Estate Investment Trust (Reit)
  • A legal entity that uses pooled investor capital to purchase and manage income property or mortgage loans. To qualify as an REIT, the entity must distribute at least 90.0% of taxable income.
  • Rental Agreements
  • An agreement with no set period of occupancy in which landlords and tenants are free to make changes to the contract at the end of each 30-day period.
  • Vacancy Rate
  • The amount of unoccupied real estate space as a percentage of total available space.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Apartment Rental in Virginia Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Apartment Rental in Virginia:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Apartment Rental in Virginia market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Apartment Rental in Virginia, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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