Naples Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Naples, FL (the Naples-Marco Island metro area) was $1,397 in 2019 according to the Census ACS survey.1 Average gross rent in Naples was $1,370 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 Naples median and average rent data will be released in September of 2021.
Data is also available below for Naples rental vacancy rates, Naples rent as a percent of median income and the fraction of renters in Naples.
Real Gross Rent in Naples 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% |
| Naples, FL Median Gross Rent | $1,397 | +9.14% | +8.46% |
Naples, FL Real Gross Rent Trends
At $1,397, real median gross rent in Naples was at its highest level in 2019 since the series began in 2005. Average gross rent for Naples peaked in real terms in 2008 at $1,398 and is now $28 (2.00%) lower. From a recent low of 1064.0 in 2011, real average gross rent has now increased by $306 (28.76%).
Real Gross Rent in Naples: Naples FL Median, Naples FL Average, Florida Median, US Median
Real Gross Rent History for Naples
| Date | US Median |
Florida Median |
Naples, FL Median |
Naples, FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,397 | $1,370 |
| 2018 | $1,077 | $1,203 | $1,280 | $1,362 |
| 2017 | $1,043 | $1,163 | $1,321 | $1,360 |
| 2016 | $1,027 | $1,137 | $1,288 | $1,338 |
| 2015 | $1,017 | $1,110 | $1,249 | $1,295 |
| 2014 | $986 | $1,059 | $1,144 | $1,166 |
| 2013 | $953 | $1,024 | $1,046 | $1,129 |
| 2012 | $940 | $1,015 | $1,097 | $1,168 |
| 2011 | $941 | $1,025 | $986 | $1,064 |
| 2010 | $955 | $1,058 | $1,053 | $1,108 |
| 2009 | $960 | $1,085 | $1,132 | $1,196 |
| 2007 | $927 | $1,087 | $1,230 | $1,236 |
| 2005 | $910 | $1,011 | $1,246 | $1,333 |
Naples 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 Naples Florida was 7.14% according to Census ACS data.
Rental Vacancy Rate in Naples Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Naples, FL | 7.14% | -0.57% | -3.15% |
Trends in Naples, FL Rental Vacancy Rate
The rental vacancy rate in Naples peaked in 2010 at 15.97%. Since then it has fallen by 8.83% to 7.14%. Data records for this series originated in 2005.
Rental Vacancy Rate: Naples FL, Florida, US
Historical Rental Vacancy Rate data for Naples
| Date | US | Florida | Naples, FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 7.14% |
| 2018 | 6.15% | 8.52% | 7.71% |
| 2017 | 6.18% | 9.16% | 10.85% |
| 2016 | 5.89% | 8.30% | 10.29% |
| 2015 | 5.85% | 7.79% | 9.99% |
| 2014 | 6.32% | 8.66% | 10.81% |
| 2013 | 6.49% | 9.22% | 11.93% |
| 2012 | 6.77% | 9.37% | 13.22% |
| 2011 | 7.40% | 10.91% | 11.15% |
| 2010 | 8.17% | 12.17% | 15.97% |
| 2009 | 8.43% | 13.16% | 14.51% |
| 2007 | 7.87% | 11.55% | 12.24% |
| 2005 | 7.74% | 7.72% | 9.37% |
Rent as a Fraction of Income
Using median household income data for Naples, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Naples, median monthly gross rent as a fraction of median household income was 22.05% in 2019 according to the ACS.
Naples 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% |
| Naples, FL | 22.05% | +0.46% | -2.06% |
Trends in Naples, FL Rent as a Fraction of Income
The fraction of median Naples household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 24.11%. Since then it has fallen by 2.06% to 22.05%.
Fraction of Income towards Rent: Naples FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Naples Florida
| Date | US | Florida | Naples, FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 22.05% |
| 2018 | 20.50% | 25.57% | 21.59% |
| 2017 | 20.13% | 25.74% | 23.27% |
| 2016 | 20.43% | 25.62% | 24.11% |
| 2015 | 20.63% | 25.40% | 22.73% |
| 2014 | 20.89% | 25.36% | 22.42% |
| 2013 | 20.78% | 25.34% | 21.90% |
| 2012 | 20.65% | 25.42% | 22.86% |
| 2011 | 20.70% | 25.71% | 21.67% |
| 2010 | 20.50% | 25.59% | 21.44% |
| 2009 | 20.12% | 25.54% | 22.49% |
| 2007 | 18.66% | 23.22% | 21.79% |
| 2005 | 18.89% | 22.88% | 22.93% |
Renter Fraction in Naples Florida
You can calculate the renter fraction in Naples 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 Naples as a fraction of total Naples households. In 2019 25.77% of households were renters according to Census ACS data.
Naples 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% |
| Naples, FL | 25.77% | -0.40% | -1.75% |
Trends in the Naples, FL Renter Fraction
The Naples household renter fraction peaked in in 2013 at 29.01% and is now 3.24% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Naples FL, Florida, US
History of Naples Renter Fraction
| Date | US | Florida | Naples, FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 25.77% |
| 2018 | 36.05% | 34.08% | 26.17% |
| 2017 | 36.13% | 34.85% | 26.73% |
| 2016 | 36.88% | 35.87% | 27.52% |
| 2015 | 36.97% | 36.22% | 27.79% |
| 2014 | 36.90% | 35.95% | 28.42% |
| 2013 | 36.50% | 35.21% | 29.01% |
| 2012 | 36.09% | 34.36% | 25.80% |
| 2011 | 35.42% | 33.28% | 26.37% |
| 2010 | 34.65% | 31.85% | 25.34% |
| 2009 | 34.13% | 31.52% | 23.62% |
| 2007 | 32.80% | 29.39% | 23.96% |
| 2005 | 33.10% | 30.43% | 26.12% |
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. ↩
