Okaloosa County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Okaloosa County FL was $1,150 in 2019 according to the Census ACS survey.1 Average gross rent in Okaloosa County was $1,134 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 Okaloosa County median and average rent data will be released in September of 2021.
Data is also available below for Okaloosa County rental vacancy rates, Okaloosa County rent as a percent of median income and the fraction of renters in Okaloosa County.
Real Gross Rent in Okaloosa 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% |
| Okaloosa County FL Median Gross Rent | $1,150 | +0.52% | +8.39% |
Okaloosa County FL Real Gross Rent Trends
At $1,150, real median gross rent in Okaloosa County was at its highest level in 2019 since the series began in 2005. At $1,134, real average gross rent in Okaloosa County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Okaloosa County FL Median, Okaloosa County FL Average, Florida Median, US Median
Real Gross Rent History for Okaloosa County
| Date | US Median |
Florida Median |
Okaloosa County FL Median |
Okaloosa County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,150 | $1,134 |
| 2018 | $1,077 | $1,203 | $1,144 | $1,114 |
| 2017 | $1,043 | $1,163 | $1,125 | $1,124 |
| 2016 | $1,027 | $1,137 | $1,061 | $1,060 |
| 2015 | $1,017 | $1,110 | $1,131 | $1,116 |
| 2014 | $986 | $1,059 | $1,098 | $1,107 |
| 2013 | $953 | $1,024 | $1,036 | $987 |
| 2012 | $940 | $1,015 | $1,048 | $1,027 |
| 2011 | $941 | $1,025 | $1,013 | $974 |
| 2010 | $955 | $1,058 | $1,107 | $1,039 |
| 2009 | $960 | $1,085 | $1,047 | $1,005 |
| 2007 | $927 | $1,087 | $1,120 | $1,050 |
| 2005 | $910 | $1,011 | $928 | $858 |
Okaloosa 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 Okaloosa County Florida was 13.11% according to Census ACS data.
Rental Vacancy Rate in Okaloosa County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Okaloosa County FL | 13.11% | +3.46% | +2.13% |
Trends in Okaloosa County FL Rental Vacancy Rate
The rental vacancy rate in Okaloosa County peaked in 2009 at 27.57%. Since then it has fallen by 14.46% to 13.11%. Data records for this series originated in 2005.
Rental Vacancy Rate: Okaloosa County FL, Florida, US
Historical Rental Vacancy Rate data for Okaloosa County
| Date | US | Florida | Okaloosa County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 13.11% |
| 2018 | 6.15% | 8.52% | 9.65% |
| 2017 | 6.18% | 9.16% | 6.37% |
| 2016 | 5.89% | 8.30% | 10.98% |
| 2015 | 5.85% | 7.79% | 5.42% |
| 2014 | 6.32% | 8.66% | 7.74% |
| 2013 | 6.49% | 9.22% | 6.48% |
| 2012 | 6.77% | 9.37% | 10.76% |
| 2011 | 7.40% | 10.91% | 23.01% |
| 2010 | 8.17% | 12.17% | 21.80% |
| 2009 | 8.43% | 13.16% | 27.57% |
| 2007 | 7.87% | 11.55% | 12.08% |
| 2005 | 7.74% | 7.72% | 3.76% |
Rent as a Fraction of Income
Using median household income data for Okaloosa County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Okaloosa County, median monthly gross rent as a fraction of median household income was 21.49% in 2019 according to the ACS.
Okaloosa 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% |
| Okaloosa County FL | 21.49% | +0.41% | +1.24% |
Trends in Okaloosa County FL Rent as a Fraction of Income
The fraction of median Okaloosa County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 23.08%. Since then it has fallen by 1.59% to 21.49%.
Fraction of Income towards Rent: Okaloosa County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Okaloosa County Florida
| Date | US | Florida | Okaloosa County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 21.49% |
| 2018 | 20.50% | 25.57% | 21.08% |
| 2017 | 20.13% | 25.74% | 21.16% |
| 2016 | 20.43% | 25.62% | 20.25% |
| 2015 | 20.63% | 25.40% | 22.98% |
| 2014 | 20.89% | 25.36% | 21.65% |
| 2013 | 20.78% | 25.34% | 21.41% |
| 2012 | 20.65% | 25.42% | 22.39% |
| 2011 | 20.70% | 25.71% | 22.90% |
| 2010 | 20.50% | 25.59% | 23.08% |
| 2009 | 20.12% | 25.54% | 22.41% |
| 2007 | 18.66% | 23.22% | 20.59% |
| 2005 | 18.89% | 22.88% | 17.49% |
Renter Fraction in Okaloosa County Florida
You can calculate the renter fraction in Okaloosa 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 Okaloosa County as a fraction of total Okaloosa County households. In 2019 34.13% of households were renters according to Census ACS data.
Okaloosa 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% |
| Okaloosa County FL | 34.13% | -2.42% | -1.81% |
Trends in the Okaloosa County FL Renter Fraction
The Okaloosa County household renter fraction peaked in in 2015 at 40.22% and is now 6.09% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Okaloosa County FL, Florida, US
History of Okaloosa County Renter Fraction
| Date | US | Florida | Okaloosa County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 34.13% |
| 2018 | 36.05% | 34.08% | 36.55% |
| 2017 | 36.13% | 34.85% | 36.27% |
| 2016 | 36.88% | 35.87% | 35.94% |
| 2015 | 36.97% | 36.22% | 40.22% |
| 2014 | 36.90% | 35.95% | 36.96% |
| 2013 | 36.50% | 35.21% | 36.39% |
| 2012 | 36.09% | 34.36% | 37.79% |
| 2011 | 35.42% | 33.28% | 33.18% |
| 2010 | 34.65% | 31.85% | 33.18% |
| 2009 | 34.13% | 31.52% | 32.25% |
| 2007 | 32.80% | 29.39% | 32.90% |
| 2005 | 33.10% | 30.43% | 33.13% |
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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