Ocala Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Ocala, FL (the Ocala metro area) was $970 in 2019 according to the Census ACS survey.1 Average gross rent in Ocala 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 Ocala median and average rent data will be released in September of 2021.
Data is also available below for Ocala rental vacancy rates, Ocala rent as a percent of median income and the fraction of renters in Ocala.
Real Gross Rent in Ocala 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% |
| Ocala, FL Median Gross Rent | $970 | +5.78% | +10.86% |
Ocala, FL Real Gross Rent Trends
Median gross rent for Ocala 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 Ocala 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 in Ocala: Ocala FL Median, Ocala FL Average, Florida Median, US Median
Real Gross Rent History for Ocala
| Date | US Median |
Florida Median |
Ocala, FL Median |
Ocala, 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 |
Ocala 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 Ocala Florida was 5.42% according to Census ACS data.
Rental Vacancy Rate in Ocala Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Ocala, FL | 5.42% | -2.44% | -3.32% |
Trends in Ocala, FL Rental Vacancy Rate
The rental vacancy rate in Ocala 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: Ocala FL, Florida, US
Historical Rental Vacancy Rate data for Ocala
| Date | US | Florida | Ocala, 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 Ocala, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Ocala, median monthly gross rent as a fraction of median household income was 23.48% in 2019 according to the ACS.
Ocala 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% |
| Ocala, FL | 23.48% | -0.78% | -1.99% |
Trends in Ocala, FL Rent as a Fraction of Income
The fraction of median Ocala 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: Ocala FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Ocala Florida
| Date | US | Florida | Ocala, 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 Ocala Florida
You can calculate the renter fraction in Ocala 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 Ocala as a fraction of total Ocala households. In 2019 28.48% of households were renters according to Census ACS data.
Ocala 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% |
| Ocala, FL | 28.48% | +4.07% | -0.03% |
Trends in the Ocala, FL Renter Fraction
The Ocala 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: Ocala FL, Florida, US
History of Ocala Renter Fraction
| Date | US | Florida | Ocala, 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. ↩
