Bay County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Bay County FL was $1,204 in 2019 according to the Census ACS survey.1 Average gross rent in Bay County was $1,228 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Bay County median and average rent data will be released in September of 2021.
Data is also available below for Bay County rental vacancy rates, Bay County rent as a percent of median income and the fraction of renters in Bay County.
Real Gross Rent in Bay County Florida (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Florida Median Gross Rent | $1,238 | +2.91% | +8.88% |
| Bay County FL Median Gross Rent | $1,204 | +10.26% | +17.69% |
Bay County FL Real Gross Rent Trends
At $1,204, real median gross rent in Bay County was at its highest level in 2019 since the series began in 2005. At $1,228, real average gross rent in Bay County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Bay County FL Median, Bay County FL Average, Florida Median, US Median
Real Gross Rent History for Bay County
| Date | US Median |
Florida Median |
Bay County FL Median |
Bay County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,204 | $1,228 |
| 2018 | $1,077 | $1,203 | $1,092 | $1,079 |
| 2017 | $1,043 | $1,163 | $1,013 | $1,007 |
| 2016 | $1,027 | $1,137 | $1,023 | $1,016 |
| 2015 | $1,017 | $1,110 | $1,042 | $1,067 |
| 2014 | $986 | $1,059 | $977 | $960 |
| 2013 | $953 | $1,024 | $931 | $950 |
| 2012 | $940 | $1,015 | $958 | $918 |
| 2011 | $941 | $1,025 | $986 | $953 |
| 2010 | $955 | $1,058 | $1,027 | $1,012 |
| 2009 | $960 | $1,085 | $1,023 | $1,006 |
| 2007 | $927 | $1,087 | $1,016 | $938 |
| 2005 | $910 | $1,011 | $874 | $826 |
Bay County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Bay County Florida was 6.97% according to Census ACS data.
Rental Vacancy Rate in Bay County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Bay County FL | 6.97% | -0.85% | -21.63% |
Trends in Bay County FL Rental Vacancy Rate
The rental vacancy rate in Bay County peaked in 2013 at 34.85%. Since then it has fallen by 27.88% to 6.97%. Data records for this series originated in 2005.
Rental Vacancy Rate: Bay County FL, Florida, US
Historical Rental Vacancy Rate data for Bay County
| Date | US | Florida | Bay County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 6.97% |
| 2018 | 6.15% | 8.52% | 7.82% |
| 2017 | 6.18% | 9.16% | 21.63% |
| 2016 | 5.89% | 8.30% | 28.60% |
| 2015 | 5.85% | 7.79% | 26.56% |
| 2014 | 6.32% | 8.66% | 31.06% |
| 2013 | 6.49% | 9.22% | 34.85% |
| 2012 | 6.77% | 9.37% | 27.09% |
| 2011 | 7.40% | 10.91% | 14.16% |
| 2010 | 8.17% | 12.17% | 28.46% |
| 2009 | 8.43% | 13.16% | 22.50% |
| 2007 | 7.87% | 11.55% | 23.32% |
| 2005 | 7.74% | 7.72% | 19.07% |
Rent as a Fraction of Income
Using median household income data for Bay County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bay County, median monthly gross rent as a fraction of median household income was 24.30% in 2019 according to the ACS.
Bay County Florida Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Florida | 25.08% | -0.49% | -0.54% |
| Bay County FL | 24.30% | -0.41% | +0.45% |
Trends in Bay County FL Rent as a Fraction of Income
The fraction of median Bay County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 24.79%. Since then it has fallen by 0.49% to 24.30%.
Fraction of Income towards Rent: Bay County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Bay County Florida
| Date | US | Florida | Bay County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 24.30% |
| 2018 | 20.50% | 25.57% | 24.71% |
| 2017 | 20.13% | 25.74% | 22.48% |
| 2016 | 20.43% | 25.62% | 23.85% |
| 2015 | 20.63% | 25.40% | 24.42% |
| 2014 | 20.89% | 25.36% | 24.79% |
| 2013 | 20.78% | 25.34% | 23.27% |
| 2012 | 20.65% | 25.42% | 23.50% |
| 2011 | 20.70% | 25.71% | 24.73% |
| 2010 | 20.50% | 25.59% | 24.57% |
| 2009 | 20.12% | 25.54% | 24.29% |
| 2007 | 18.66% | 23.22% | 21.19% |
| 2005 | 18.89% | 22.88% | 20.61% |
Renter Fraction in Bay County Florida
You can calculate the renter fraction in Bay County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Bay County as a fraction of total Bay County households. In 2019 29.29% of households were renters according to Census ACS data.
Bay County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Florida | 33.75% | -0.33% | -2.12% |
| Bay County FL | 29.29% | -2.57% | -6.64% |
Trends in the Bay County FL Renter Fraction
The Bay County household renter fraction peaked in in 2012 at 40.13% and is now 10.84% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Bay County FL, Florida, US
History of Bay County Renter Fraction
| Date | US | Florida | Bay County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 29.29% |
| 2018 | 36.05% | 34.08% | 31.86% |
| 2017 | 36.13% | 34.85% | 38.43% |
| 2016 | 36.88% | 35.87% | 35.93% |
| 2015 | 36.97% | 36.22% | 38.46% |
| 2014 | 36.90% | 35.95% | 38.11% |
| 2013 | 36.50% | 35.21% | 40.00% |
| 2012 | 36.09% | 34.36% | 40.13% |
| 2011 | 35.42% | 33.28% | 37.74% |
| 2010 | 34.65% | 31.85% | 36.44% |
| 2009 | 34.13% | 31.52% | 34.55% |
| 2007 | 32.80% | 29.39% | 31.77% |
| 2005 | 33.10% | 30.43% | 35.38% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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