Marion County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Marion County FL was $970 in 2019 according to the Census ACS survey.1 Average gross rent in Marion County was $943 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 Marion County median and average rent data will be released in September of 2021.
Data is also available below for Marion County rental vacancy rates, Marion County rent as a percent of median income and the fraction of renters in Marion County.
Real Gross Rent in Marion 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% |
| Marion County FL Median Gross Rent | $970 | +5.78% | +10.86% |
Marion County FL Real Gross Rent Trends
Median gross rent for Marion County peaked in real terms in 2008 at $1,074 and is now $104 (9.68%) lower. From a recent low of 821.0 in 2012, real median gross rent has now increased by $149 (18.15%). Average gross rent for Marion County peaked in real terms in 2008 at $966 and is now $23 (2.38%) lower. From a recent low of 746.0 in 2015, real average gross rent has now increased by $197 (26.41%).
Real Gross Rent: Marion County FL Median, Marion County FL Average, Florida Median, US Median
Real Gross Rent History for Marion County
| Date | US Median |
Florida Median |
Marion County FL Median |
Marion County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $970 | $943 |
| 2018 | $1,077 | $1,203 | $917 | $875 |
| 2017 | $1,043 | $1,163 | $884 | $842 |
| 2016 | $1,027 | $1,137 | $875 | $829 |
| 2015 | $1,017 | $1,110 | $823 | $746 |
| 2014 | $986 | $1,059 | $856 | $779 |
| 2013 | $953 | $1,024 | $829 | $781 |
| 2012 | $940 | $1,015 | $821 | $793 |
| 2011 | $941 | $1,025 | $855 | $781 |
| 2010 | $955 | $1,058 | $917 | $856 |
| 2009 | $960 | $1,085 | $911 | $864 |
| 2007 | $927 | $1,087 | $864 | $780 |
| 2005 | $910 | $1,011 | $840 | $786 |
Marion 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 Marion County Florida was 5.42% according to Census ACS data.
Rental Vacancy Rate in Marion County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Marion County FL | 5.42% | -2.44% | -3.32% |
Trends in Marion County FL Rental Vacancy Rate
The rental vacancy rate in Marion County peaked in 2010 at 16.74%. Since then it has fallen by 11.32% to 5.42%. Data records for this series originated in 2005.
Rental Vacancy Rate: Marion County FL, Florida, US
Historical Rental Vacancy Rate data for Marion County
| Date | US | Florida | Marion County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 5.42% |
| 2018 | 6.15% | 8.52% | 7.86% |
| 2017 | 6.18% | 9.16% | 9.81% |
| 2016 | 5.89% | 8.30% | 8.74% |
| 2015 | 5.85% | 7.79% | 11.93% |
| 2014 | 6.32% | 8.66% | 9.46% |
| 2013 | 6.49% | 9.22% | 8.75% |
| 2012 | 6.77% | 9.37% | 7.41% |
| 2011 | 7.40% | 10.91% | 10.01% |
| 2010 | 8.17% | 12.17% | 16.74% |
| 2009 | 8.43% | 13.16% | 14.22% |
| 2007 | 7.87% | 11.55% | 14.16% |
| 2005 | 7.74% | 7.72% | 10.26% |
Rent as a Fraction of Income
Using median household income data for Marion County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Marion County, median monthly gross rent as a fraction of median household income was 23.48% in 2019 according to the ACS.
Marion 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% |
| Marion County FL | 23.48% | -0.78% | -1.99% |
Trends in Marion County FL Rent as a Fraction of Income
The fraction of median Marion County household income required to pay median monthly gross rent peaked in 2008 (relative to the 2005 series origin) at 27.09%. Since then it has fallen by 3.62% to 23.48%.
Fraction of Income towards Rent: Marion County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Marion County Florida
| Date | US | Florida | Marion County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 23.48% |
| 2018 | 20.50% | 25.57% | 24.26% |
| 2017 | 20.13% | 25.74% | 23.42% |
| 2016 | 20.43% | 25.62% | 25.47% |
| 2015 | 20.63% | 25.40% | 23.25% |
| 2014 | 20.89% | 25.36% | 24.36% |
| 2013 | 20.78% | 25.34% | 24.41% |
| 2012 | 20.65% | 25.42% | 24.97% |
| 2011 | 20.70% | 25.71% | 26.21% |
| 2010 | 20.50% | 25.59% | 26.60% |
| 2009 | 20.12% | 25.54% | 24.56% |
| 2007 | 18.66% | 23.22% | 22.45% |
| 2005 | 18.89% | 22.88% | 22.33% |
Renter Fraction in Marion County Florida
You can calculate the renter fraction in Marion 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 Marion County as a fraction of total Marion County households. In 2019 28.48% of households were renters according to Census ACS data.
Marion 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% |
| Marion County FL | 28.48% | +4.07% | -0.03% |
Trends in the Marion County FL Renter Fraction
The Marion County household renter fraction peaked in in 2016 at 28.51% and is now 0.03% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Marion County FL, Florida, US
History of Marion County Renter Fraction
| Date | US | Florida | Marion County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 28.48% |
| 2018 | 36.05% | 34.08% | 24.41% |
| 2017 | 36.13% | 34.85% | 23.13% |
| 2016 | 36.88% | 35.87% | 28.51% |
| 2015 | 36.97% | 36.22% | 23.97% |
| 2014 | 36.90% | 35.95% | 23.96% |
| 2013 | 36.50% | 35.21% | 25.84% |
| 2012 | 36.09% | 34.36% | 25.48% |
| 2011 | 35.42% | 33.28% | 24.43% |
| 2010 | 34.65% | 31.85% | 21.64% |
| 2009 | 34.13% | 31.52% | 21.17% |
| 2007 | 32.80% | 29.39% | 21.61% |
| 2005 | 33.10% | 30.43% | 20.48% |
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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