Virginia Real Estate and Rental and Leasing Profile September 2016
For additional information or explanation of the contents of this document, you may contact the Economic/Operations Research section at (804) 786-7497 or James.Wilson@vec.virginia.gov. Publication Staff: Timothy O. Kestner, Editor; Joan McDorman, Assistant Editor; Linda Simmons, Graphic Design/Layout
ESTABLISHMENTS
NAICS Code Industry 1995 Average Establishments 2010 Average Establishments 2015 Average Establishments 2015 Average Employment 2015 Employment per Establishment 53111 Lessors of Residential Buildings 1,279 1,231 1,182 9,347 8 53112 53113 53119 53121 Lessors of Nonresidential Buildings Miniwarehouse and Self-Storage Unit Operators Lessors of Other Real Estate Property Offices of Real Estate Agents and Brokers 672 564 540 2,330 4 122 330 347 1,328 4 229 176 172 558 3 1,682 2,691 2,674 9,460 4 53131 Real Estate Property Managers 965 1,540 1,878 15,124 8 53132 Offices of Real Estate Appraisers 332 434 404 901 2 53139 53211 53212 53221 Other Activities Related to Real Estate Passenger Car Rental and Leasing Truck, Trailer, and RV Rental and Leasing Consumer Electronics and Appliances Rental 80 367 512 1,218 2 190 270 328 3,868 12 127 134 125 1,244 10 75 86 93 523 6 53223 Video Tape and Disc Rental 544 231 32 97 3 53229 Other Consumer Goods Rental 184 309 357 2,860 8 53231 General Rental Centers 129 134 132 993 8 53241 53242 53249 53311 Heavy Machinery Rental and Leasing Office Equipment Rental and Leasing Other Machinery Rental and Leasing Lessors of Nonfinancial Intangible Assets 104 127 128 1,259 10 56 38 30 263 9 69 110 106 827 8 57 54 68 343 5 Real Estate and Rental and Leasing Total 6,960 8,858 9,119 52,639 6 All Industries 172,033 226,908 251,081 3,734,994 15 Employment and wages of a real estate salesman paid solely by commission are not included in the data.
Real Estate and Rental and Leasing Establishments Annual Averages 9.5 9.0 Thousands 8.5 8.0 7.5 7.0 6.5 Source: Quarterly Census of Employment and Wages
Wages
NAICS Code Industry Average Weekly Wage 1995-2015 Change 2010-2015 Change 1995 2010 2015 Percent Percent 53111 Lessors of Residential Buildings $356 $716 $877 146.3% 22.5% 53112 Lessors of Nonresidential Buildings $425 $1,066 $1,215 185.9% 14.0% 53113 Miniwarehouse and Self-Storage Unit Operators $285 $521 $557 95.4% 6.9% 53119 Lessors of Other Real Estate Property $338 $607 $851 151.8% 40.2% 53121 Offices of Real Estate Agents and Brokers $545 $1,009 $1,222 124.2% 21.1% 53131 Real Estate Property Managers $494 $916 $1,092 121.1% 19.2% 53132 Offices of Real Estate Appraisers $555 $888 $979 76.4% 10.2% 53139 Other Activities Related to Real Estate $543 $1,092 $1,425 162.4% 30.5% 53211 Passenger Car Rental and Leasing $377 $610 $637 69.0% 4.4% 53212 Truck, Trailer, and RV Rental and Leasing $513 $748 $807 57.3% 7.9% 53221 Consumer Electronics and Appliances Rental $372 $614 $660 77.4% 7.5% 53223 Video Tape and Disc Rental $161 $261 $370 129.8% 41.8% 53229 Other Consumer Goods Rental $449 $683 $700 55.9% 2.5% 53231 General Rental Centers $457 $670 $737 61.3% 10.0% 53241 Heavy Machinery Rental and Leasing $629 $1,084 $1,233 96.0% 13.7% 53242 Office Equipment Rental and Leasing $1,083 $1,515 $1,965 81.4% 29.7% 53249 Other Machinery Rental and Leasing $532 $895 $1,003 88.5% 12.1% 53311 Lessors of Nonfinancial Intangible Assets $878 nondisclosable data $1,582 80.2% N/A Real Estate and Rental and Leasing Total $435 $842 $1,007 131.5% 19.6% All Industries $517 $955 $1,044 101.9% 9.3% Employment and wages of a real estate salesman paid solely by commission are not included in the data.
Real Estate and Rental and Leasing Average Weekly Wages Annual Averages 1,100 1,000 900 Dollars 800 700 600 500 400 Source: Quarterly Census of Employment and Wages
Employment
NAICS Code Industry Average Employment 1995-2015 Change 2010-2015 Change 1995 2010 2015 Number Percent Number Percent 53111 53112 53113 53119 53121 53131 53132 53139 53211 53212 53221 Lessors of Residential Buildings Lessors of Nonresidential Buildings Miniwarehouse and Self- Storage Unit Operators Lessors of Other Real Estate Property Offices of Real Estate Agents and Brokers Real Estate Property Managers Offices of Real Estate Appraisers Other Activities Related to Real Estate Passenger Car Rental and Leasing Truck, Trailer, and RV Rental and Leasing Consumer Electronics and Appliances Rental 10,594 9,200 9,347-1,247-11.8% 147 1.6% 3,912 2,630 2,330-1,582-40.4% -300-11.4% 625 1,199 1,328 703 112.5% 129 10.8% 728 517 558-170 -23.4% 41 7.9% 7,977 9,635 9,460 1,483 18.6% -175-1.8% 8,477 13,614 15,124 6,647 78.4% 1,510 11.1% 942 986 901-41 -4.4% -85-8.6% 346 882 1,218 872 252.0% 336 38.1% 2,830 3,391 3,868 1,038 36.7% 477 14.1% 1,091 920 1,244 153 14.0% 324 35.2% 540 551 523-17 -3.1% -28-5.1% 53223 Video Tape and Disc Rental 4,659 1,288 97-4,562-97.9% -1,191-92.5% 53229 Other Consumer Goods Rental 1,859 2,667 2,860 1,001 53.8% 193 7.2% 53231 General Rental Centers 1,003 1,020 993-10 -1.0% -27-2.6% 53241 53242 53249 Heavy Machinery Rental and Leasing Office Equipment Rental and Leasing Other Machinery Rental and Leasing 698 1,059 1,259 561 80.4% 200 18.9% 973 249 263-710 -73.0% 14 5.6% 433 790 827 394 91.0% 37 4.7% 53311 Lessors of Nonfinancial Intangible Assets 295 nondisclosable data 343 48 16.3% N/A N/A Real Estate and Rental and Leasing Total 48,339 51,486 52,639 4,300 8.9% 1,153 2.2% All Industries 3,011,821 3,535,451 3,734,994 723,173 24.0% 199,543 5.6% Employment and wages of a real estate salesman paid solely by commission are not included in the data.
Real Estate and Rental and Leasing Employment Annual Averages 60 58 Thousands 56 54 52 50 48 Source: Quarterly Census of Employment and Wages
Geographic Data
Real Estate and Rental and Leasing Totals for 2015 Area Establishments Average Employment Average Weekly Wage Accomack County 40 112 $568 Albemarle County 152 827 $844 Alexandria city 275 1,852 $1,318 Alleghany County 4 non-disclosable data non-disclosable data Amelia County 6 6 $503 Amherst County 15 31 $574 Appomattox County 11 18 $623 Arlington County 361 3,101 $1,226 Augusta County 51 209 $669 Bath County 7 26 $653 Bedford County 85 264 $632 Bland County 2 non-disclosable data non-disclosable data Botetourt County 16 56 $663 Bristol city 15 45 $572 Brunswick County 5 10 $340 Buchanan County 11 26 $734 Buckingham County 3 4 $361 Buena Vista city 4 8 $351 Campbell County 42 114 $600 Caroline County 10 13 $358 Carroll County 15 24 $563 Charles City County 3 4 $2,436 Charlotte County 8 13 $292 Charlottesville city 94 672 $818 Chesapeake city 277 1,318 $779 Chesterfield County 290 1,395 $933 Clarke County 20 37 $456 Colonial Heights city 31 172 $655 Covington city 8 27 $380 Craig County 3 12 $994 Culpeper County 34 179 $604 Cumberland County 1 non-disclosable data non-disclosable data Danville city 48 245 $600 Dickenson County 2 non-disclosable data non-disclosable data Dinwiddie County 8 54 $543 Emporia city 19 65 $476 Essex County 8 67 $796 Fairfax city 51 194 $984 Fairfax County 1,529 9,606 $1,411 Falls Church city 31 179 $1,079 Fauquier County 79 288 $1,239 Floyd County 5 12 $296 Fluvanna County 10 19 $820 Franklin city 14 38 $654 Franklin County 47 172 $900 Frederick County 50 171 $920 Fredericksburg city 85 431 $876
Area Establishments Average Employment Average Weekly Wage Galax city 12 50 $737 Giles County 8 12 $586 Gloucester County 39 105 $570 Goochland County 20 204 $928 Grayson County 8 27 $2,287 Greene County 7 20 $606 Greensville County 3 non-disclosable data non-disclosable data Halifax County 18 64 $491 Hampton city 122 664 $666 Hanover County 116 513 $847 Harrisonburg city 73 384 $626 Henrico County 456 3,865 $1,008 Henry County 27 72 $597 Highland County 1 non-disclosable data non-disclosable data Hopewell city 16 61 $740 Isle of Wight County 28 84 $681 James City County 73 783 $954 King and Queen County 1 non-disclosable data non-disclosable data King George County 25 69 $635 King William County 9 29 $502 Lancaster County 20 45 $438 Lee County 11 34 $436 Lexington city 20 48 $664 Loudoun County 372 1,739 $1,133 Louisa County 19 43 $575 Lunenburg County 2 non-disclosable data non-disclosable data Lynchburg city 112 635 $658 Madison County 8 14 $532 Manassas city 64 290 $990 Manassas Park city 7 47 $661 Martinsville city 25 92 $517 Mathews County 9 13 $558 Mecklenburg County 30 91 $565 Middlesex County 9 21 $443 Montgomery County 90 944 $736 Nelson County 18 59 $538 New Kent County 13 19 $603 Newport News city 251 1,767 $797 Norfolk city 291 2,307 $943 Northampton County 10 22 $541 Northumberland County 14 13 $652 Norton city 10 49 $494 Nottoway County 10 24 $482 Orange County 30 330 $781 Page County 9 non-disclosable data non-disclosable data Patrick County 4 3 $593 Petersburg city 30 145 $635 Pittsylvania County 22 88 $404 Poquoson city 8 23 $768 Portsmouth city 84 455 $654
Area Establishments Average Employment Average Weekly Wage Powhatan County 15 33 $938 Prince Edward County 25 87 $481 Prince George County 18 107 $772 Prince William County 329 1,593 $942 Pulaski County 21 61 $530 Radford city 24 114 $589 Rappahannock County 5 11 $507 Richmond city 291 1,776 $946 Richmond County 6 20 $493 Roanoke city 154 919 $670 Roanoke County 114 495 $751 Rockbridge County 8 non-disclosable data non-disclosable data Rockingham County 42 520 $754 Russell County 8 25 $474 Salem city 36 168 $649 Scott County 7 14 $424 Shenandoah County 28 94 $438 Smyth County 15 53 $736 Southampton County 8 38 $528 Spotsylvania County 102 381 $710 Stafford County 95 359 $754 Staunton city 38 136 $632 Suffolk city 66 237 $930 Surry County 4 18 $658 Sussex County 5 11 $481 Tazewell County 44 155 $521 Virginia Beach city 633 4,440 $1,021 Warren County 22 71 $605 Washington County 52 160 $619 Waynesboro city 28 113 $580 Westmoreland County 11 22 $373 Williamsburg city 18 82 $789 Winchester city 62 425 $785 Wise County 20 55 $657 Wythe County 23 74 $501 York County 51 722 $999 State Total 9,119 52,639 $1,007 Note: An area not listed indicates that the industry is not found at this location. Source: Quarterly Census of Employment and Wages
UI Tax Rate
2016 UI Taxes by Industry (Base Rate Only) NAICS Code Industry Average Tax Pct. at Minimum Pct. at Maximum 11 Agriculture, Forestry, Fishing and Hunting 0.80% 75.9% 5.2% 21 Mining 2.87% 35.3% 32.4% 22 Utilities 1.34% 49.2% 9.8% 23 Construction 1.53% 61.7% 13.6% 31-33 Manufacturing 1.58% 52.2% 11.6% 42 Wholesale Trade 1.18% 68.6% 9.4% 44-45 Retail Trade 0.79% 71.9% 4.0% 48-49 Transportation and Warehousing 1.29% 61.5% 10.3% 51 Information 1.27% 66.1% 10.0% 52 Finance and Insurance 0.91% 74.4% 6.1% 53 Real Estate and Rental and Leasing 0.86% 77.5% 6.0% 531 Real Estate 0.79% 79.8% 5.6% 532 Rental and Leasing Services 1.54% 55.5% 10.6% 533 Lessors of Nonfinancial Intangible Assets 0.85% 70.4% 3.7% 54 Professional and Technical Services 1.01% 74.3% 8.0% 55 Management of Companies and Enterprises 1.36% 64.6% 11.5% 56 Administrative and Waste Services 1.37% 61.3% 10.9% 61 Educational Services 0.73% 75.8% 4.9% 62 Health Care and Social Assistance 0.78% 77.7% 5.8% 71 Arts, Entertainment, and Recreation 0.71% 74.3% 4.8% 72 Accommodation and Food Service 0.59% 69.5% 2.2% 81 Miscellaneous Services 0.60% 84.4% 4.1% Total for All Taxable Industries 0.96% 72.5% 7.2% (excludes 0.07% pool tax)
State UI Tax Rate Real Estate and Rental and Leasing vs. Total Annual Averages 1.4 Percent of Taxable Wages 1.2 1.0 0.8 0.6 0.4 0.2 Real Estate and Rental and Leasing Total Base rate only; excludes pool and fund building surtaxes. State UI Surtax Rates 0.6 Percent of Taxable Wages 0.5 0.4 0.3 0.2 0.1 0.0 Pool Fund building