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City Report · VA

Forest

Pop. 13,430·72nd most expensive in Virginia·Forest rents have dropped 13.0%, currently a renter's market
Median rent (all units)
$1,516/mo
Year-over-Year
-13.0%
Month-over-Month
-2.6%
vs US Median
-$446
Falling (Monthly)
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Most AffordableMost Expensive
Forest · $1,516
More affordable than 75% of US cities · National median $1,962/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,516/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$61,000/yr
Local median income
$81,552/yr
Based on the 30%-of-income rule using Forest's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,140
1 BR
$1,160
2 BR
$1,310
3 BR
$1,800
4 BR+
$1,950
Fair Market Rent (HUD)
$1,310/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,516 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$18,192/yr
At $1,516/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 13.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-13.0% YoY, -2.6% MoM), not inventory.
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Demographics

Who lives here

Forest, VA is majority owner-occupied, has a large retiree population, 45.6% of residents hold a bachelor's degree or higher.

Population
13,430
Median income
$81,552
Median age
39.2
Renters
24.1%
Age distribution
20%
24.4%
20.2%
14.8%
20.6%
Under 1820%
18–3424.4%
35–5420.2%
55–6414.8%
65+20.6%
Gender
44.8%
55.2%
Male44.8%
Female55.2%
Race & ethnicity
76.4%
12.7%
White76.4%
Black12.7%
Hispanic3%
Asian1.8%
Other6.1%
Education (25+)
18.7%
31.7%
45.6%
No HS diploma4%
HS diploma18.7%
Some college31.7%
Bachelor's+45.6%
Housing tenure
75.9%
24.1%
Owner75.9%
Renter24.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Forest, VA has changed in 5 years

Income
$80,000 → $81,552
up 1.9%
Population
11,045 → 13,430
up 21.6%
Renter share
25.2% → 24.1%
-1.1 pts
Bachelor's+
44.9% → 45.6%
+0.7 pts
Median age
45.1 → 39.2
-5.9 yrs

On the earnings side, the typical household in Forest, VA now reports about $81,552, up from $80,000 in 2021. Census counts show Forest, VA adding about 2,385 residents over the five-year window, up 21.6% on net.

Community

Discussions about Forest

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View Forest rent history (2015–2026) →
Salary vs rent

Can you afford rent in Forest on your salary?

At $1,516/mo, how Forest rent compares to typical pay (30% rule).

By apartment size

Forest rent by bedroom count

Median rent for each apartment size in Forest. Click any size for full breakdown.

Local insights

Tips for renters in Forest

About renting in Forest, VA

Last updated: August 17, 2026

The median rent in Forest is $1,516/mo as of August 2026. A studio apartment averages $1,140/mo while a 2-bedroom runs $1,310/mo. One-bedroom apartments average $1,160/mo and 3-bedroom units go for $1,800/mo.

At 22% of local median household income ($81,552/yr), Forest ranks as affordable compared to the national benchmark of 30%. Rents have decreased 13.0% over the past year.

FAQ

Frequently asked questions

Is Forest an affordable city for renters?

Forest is considered very affordable for renters. At $1,516/mo, rent takes approximately 22% of the local median household income ($81,552/yr). The standard benchmark is 30%. Forest falls comfortably within that range.

How much income do you need to rent in Forest?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (~$29/hour full-time) to afford the median rent of $1,516/mo in Forest. The local median household income is $81,552/yr, meaning the typical Forest household meets that threshold.

Is rent going up or down in Forest?

Rent in Forest has decreased 13.0% over the past year as of August 2026, offering some relief compared to 12 months ago.

How does Forest rent compare to other cities in Virginia?

Forest is one of the more affordable cities in Virginia for rent, ranking #72 out of 83 tracked cities at $1,516/mo.

Which nearby cities are cheaper to rent in than Forest?

Several nearby cities have lower median rents than Forest ($1,516/mo): Martinsville ($883/mo), Madison Heights ($1,090/mo), Lynchburg ($1,333/mo).

What percentage of Forest residents rent vs. own?

According to Census data, approximately 24.1% of Forest households are renters, while 75.9% are owner-occupied. Forest leans toward homeownership, which can mean a smaller rental inventory.

How does Forest rent compare to the national average?

Forest's median rent of $1,516/mo is $446 (23%) below the US national median of $1,962/mo. Within Virginia, it ranks #72 out of 83 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,516/mo, rent takes ~22% of Forest's median household income ($81,552/yr). The standard benchmark is 30%.

Forest 22%Benchmark 30%
State income tax2–5.75%
Run the Forest affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Forest, VA

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