Lee County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Lee County FL was $1,220 in 2019 according to the Census ACS survey.1 Average gross rent in Lee County was $1,209 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 Lee County median and average rent data will be released in September of 2021.
Data is also available below for Lee County rental vacancy rates, Lee County rent as a percent of median income and the fraction of renters in Lee County.
Real Gross Rent in Lee 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% |
| Lee County FL Median Gross Rent | $1,220 | +0.74% | +7.87% |
Lee County FL Real Gross Rent Trends
At $1,220, real median gross rent in Lee County was at its highest level in 2019 since the series began in 2005. Average gross rent for Lee County peaked in real terms in 2018 at $1,246 and is now $37 (2.97%) lower.
Real Gross Rent: Lee County FL Median, Lee County FL Average, Florida Median, US Median
Real Gross Rent History for Lee County
| Date | US Median |
Florida Median |
Lee County FL Median |
Lee County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,220 | $1,209 |
| 2018 | $1,077 | $1,203 | $1,211 | $1,246 |
| 2017 | $1,043 | $1,163 | $1,151 | $1,205 |
| 2016 | $1,027 | $1,137 | $1,131 | $1,176 |
| 2015 | $1,017 | $1,110 | $1,064 | $1,096 |
| 2014 | $986 | $1,059 | $992 | $1,027 |
| 2013 | $953 | $1,024 | $987 | $1,028 |
| 2012 | $940 | $1,015 | $963 | $1,001 |
| 2011 | $941 | $1,025 | $957 | $1,007 |
| 2010 | $955 | $1,058 | $976 | $1,008 |
| 2009 | $960 | $1,085 | $1,060 | $1,075 |
| 2007 | $927 | $1,087 | $1,185 | $1,191 |
| 2005 | $910 | $1,011 | $1,091 | $1,071 |
Lee 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 Lee County Florida was 10.36% according to Census ACS data.
Rental Vacancy Rate in Lee County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Lee County FL | 10.36% | +2.98% | +3.57% |
Trends in Lee County FL Rental Vacancy Rate
The rental vacancy rate in Lee County peaked in 2007 at 21.74%. Since then it has fallen by 11.38% to 10.36%. Data records for this series originated in 2005. From a 2015 post peak low of 6.21%, the rental vacancy rate has increased by 4.15%.
Rental Vacancy Rate: Lee County FL, Florida, US
Historical Rental Vacancy Rate data for Lee County
| Date | US | Florida | Lee County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 10.36% |
| 2018 | 6.15% | 8.52% | 7.38% |
| 2017 | 6.18% | 9.16% | 11.09% |
| 2016 | 5.89% | 8.30% | 6.79% |
| 2015 | 5.85% | 7.79% | 6.21% |
| 2014 | 6.32% | 8.66% | 8.57% |
| 2013 | 6.49% | 9.22% | 13.47% |
| 2012 | 6.77% | 9.37% | 11.43% |
| 2011 | 7.40% | 10.91% | 15.22% |
| 2010 | 8.17% | 12.17% | 15.19% |
| 2009 | 8.43% | 13.16% | 19.23% |
| 2007 | 7.87% | 11.55% | 21.74% |
| 2005 | 7.74% | 7.72% | 14.00% |
Rent as a Fraction of Income
Using median household income data for Lee County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lee County, median monthly gross rent as a fraction of median household income was 23.52% in 2019 according to the ACS.
Lee 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% |
| Lee County FL | 23.52% | -1.92% | -0.97% |
Trends in Lee County FL Rent as a Fraction of Income
The fraction of median Lee County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 25.44%. Since then it has fallen by 1.92% to 23.52%.
Fraction of Income towards Rent: Lee County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Lee County Florida
| Date | US | Florida | Lee County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 23.52% |
| 2018 | 20.50% | 25.57% | 25.44% |
| 2017 | 20.13% | 25.74% | 24.83% |
| 2016 | 20.43% | 25.62% | 24.49% |
| 2015 | 20.63% | 25.40% | 23.76% |
| 2014 | 20.89% | 25.36% | 22.99% |
| 2013 | 20.78% | 25.34% | 24.24% |
| 2012 | 20.65% | 25.42% | 23.47% |
| 2011 | 20.70% | 25.71% | 23.49% |
| 2010 | 20.50% | 25.59% | 23.84% |
| 2009 | 20.12% | 25.54% | 24.61% |
| 2007 | 18.66% | 23.22% | 23.88% |
| 2005 | 18.89% | 22.88% | 22.75% |
Renter Fraction in Lee County Florida
You can calculate the renter fraction in Lee 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 Lee County as a fraction of total Lee County households. In 2019 24.49% of households were renters according to Census ACS data.
Lee 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% |
| Lee County FL | 24.49% | -2.67% | -5.33% |
Trends in the Lee County FL Renter Fraction
The Lee County household renter fraction peaked in in 2014 at 32.98% and is now 8.49% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Lee County FL, Florida, US
History of Lee County Renter Fraction
| Date | US | Florida | Lee County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 24.49% |
| 2018 | 36.05% | 34.08% | 27.16% |
| 2017 | 36.13% | 34.85% | 28.55% |
| 2016 | 36.88% | 35.87% | 29.82% |
| 2015 | 36.97% | 36.22% | 30.67% |
| 2014 | 36.90% | 35.95% | 32.98% |
| 2013 | 36.50% | 35.21% | 30.73% |
| 2012 | 36.09% | 34.36% | 31.88% |
| 2011 | 35.42% | 33.28% | 28.94% |
| 2010 | 34.65% | 31.85% | 29.02% |
| 2009 | 34.13% | 31.52% | 26.84% |
| 2007 | 32.80% | 29.39% | 25.83% |
| 2005 | 33.10% | 30.43% | 26.65% |
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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