Broward County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Broward County FL was $1,448 in 2019 according to the Census ACS survey.1 Average gross rent in Broward County was $1,485 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 Broward County median and average rent data will be released in September of 2021.
Data is also available below for Broward County rental vacancy rates, Broward County rent as a percent of median income and the fraction of renters in Broward County.
Real Gross Rent in Broward 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% |
| Broward County FL Median Gross Rent | $1,448 | +3.65% | +6.71% |
Broward County FL Real Gross Rent Trends
At $1,448, real median gross rent in Broward County was at its highest level in 2019 since the series began in 2005. At $1,485, real average gross rent in Broward County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Broward County FL Median, Broward County FL Average, Florida Median, US Median
Real Gross Rent History for Broward County
| Date | US Median |
Florida Median |
Broward County FL Median |
Broward County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,448 | $1,485 |
| 2018 | $1,077 | $1,203 | $1,397 | $1,441 |
| 2017 | $1,043 | $1,163 | $1,369 | $1,413 |
| 2016 | $1,027 | $1,137 | $1,357 | $1,418 |
| 2015 | $1,017 | $1,110 | $1,332 | $1,396 |
| 2014 | $986 | $1,059 | $1,261 | $1,309 |
| 2013 | $953 | $1,024 | $1,224 | $1,264 |
| 2012 | $940 | $1,015 | $1,207 | $1,248 |
| 2011 | $941 | $1,025 | $1,200 | $1,228 |
| 2010 | $955 | $1,058 | $1,258 | $1,267 |
| 2009 | $960 | $1,085 | $1,313 | $1,351 |
| 2007 | $927 | $1,087 | $1,289 | $1,315 |
| 2005 | $910 | $1,011 | $1,189 | $1,236 |
Broward 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 Broward County Florida was 6.65% according to Census ACS data.
Rental Vacancy Rate in Broward County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Broward County FL | 6.65% | -0.39% | -0.51% |
Trends in Broward County FL Rental Vacancy Rate
The rental vacancy rate in Broward County peaked in 2009 at 12.95%. Since then it has fallen by 6.30% to 6.65%. Data records for this series originated in 2005.
Rental Vacancy Rate: Broward County FL, Florida, US
Historical Rental Vacancy Rate data for Broward County
| Date | US | Florida | Broward County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 6.65% |
| 2018 | 6.15% | 8.52% | 7.04% |
| 2017 | 6.18% | 9.16% | 8.11% |
| 2016 | 5.89% | 8.30% | 7.16% |
| 2015 | 5.85% | 7.79% | 6.85% |
| 2014 | 6.32% | 8.66% | 8.14% |
| 2013 | 6.49% | 9.22% | 7.37% |
| 2012 | 6.77% | 9.37% | 8.39% |
| 2011 | 7.40% | 10.91% | 10.18% |
| 2010 | 8.17% | 12.17% | 10.35% |
| 2009 | 8.43% | 13.16% | 12.95% |
| 2007 | 7.87% | 11.55% | 11.88% |
| 2005 | 7.74% | 7.72% | 6.13% |
Rent as a Fraction of Income
Using median household income data for Broward County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Broward County, median monthly gross rent as a fraction of median household income was 28.25% in 2019 according to the ACS.
Broward 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% |
| Broward County FL | 28.25% | -0.49% | -0.43% |
Trends in Broward County FL Rent as a Fraction of Income
The fraction of median Broward County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 28.74%. Since then it has fallen by 0.49% to 28.25%.
Fraction of Income towards Rent: Broward County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Broward County Florida
| Date | US | Florida | Broward County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 28.25% |
| 2018 | 20.50% | 25.57% | 28.74% |
| 2017 | 20.13% | 25.74% | 28.04% |
| 2016 | 20.43% | 25.62% | 28.69% |
| 2015 | 20.63% | 25.40% | 27.95% |
| 2014 | 20.89% | 25.36% | 27.76% |
| 2013 | 20.78% | 25.34% | 27.64% |
| 2012 | 20.65% | 25.42% | 27.35% |
| 2011 | 20.70% | 25.71% | 27.27% |
| 2010 | 20.50% | 25.59% | 28.11% |
| 2009 | 20.12% | 25.54% | 28.30% |
| 2007 | 18.66% | 23.22% | 24.99% |
| 2005 | 18.89% | 22.88% | 24.45% |
Renter Fraction in Broward County Florida
You can calculate the renter fraction in Broward 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 Broward County as a fraction of total Broward County households. In 2019 37.81% of households were renters according to Census ACS data.
Broward 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% |
| Broward County FL | 37.81% | +0.26% | -1.23% |
Trends in the Broward County FL Renter Fraction
The Broward County household renter fraction peaked in in 2016 at 39.04% and is now 1.23% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Broward County FL, Florida, US
History of Broward County Renter Fraction
| Date | US | Florida | Broward County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 37.81% |
| 2018 | 36.05% | 34.08% | 37.55% |
| 2017 | 36.13% | 34.85% | 37.80% |
| 2016 | 36.88% | 35.87% | 39.04% |
| 2015 | 36.97% | 36.22% | 38.53% |
| 2014 | 36.90% | 35.95% | 38.16% |
| 2013 | 36.50% | 35.21% | 36.91% |
| 2012 | 36.09% | 34.36% | 34.39% |
| 2011 | 35.42% | 33.28% | 35.98% |
| 2010 | 34.65% | 31.85% | 33.82% |
| 2009 | 34.13% | 31.52% | 31.55% |
| 2007 | 32.80% | 29.39% | 27.96% |
| 2005 | 33.10% | 30.43% | 30.00% |
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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