Pasco County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Pasco County FL was $1,077 in 2019 according to the Census ACS survey.1 Average gross rent in Pasco County was $1,073 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 Pasco County median and average rent data will be released in September of 2021.
Data is also available below for Pasco County rental vacancy rates, Pasco County rent as a percent of median income and the fraction of renters in Pasco County.
Real Gross Rent in Pasco 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% |
| Pasco County FL Median Gross Rent | $1,077 | -1.55% | +4.46% |
Pasco County FL Real Gross Rent Trends
Median gross rent for Pasco County peaked in real terms in 2018 at $1,094 and is now $17 (1.55%) lower. Average gross rent for Pasco County peaked in real terms in 2017 at $1,088 and is now $15 (1.38%) lower.
Real Gross Rent: Pasco County FL Median, Pasco County FL Average, Florida Median, US Median
Real Gross Rent History for Pasco County
| Date | US Median |
Florida Median |
Pasco County FL Median |
Pasco County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,077 | $1,073 |
| 2018 | $1,077 | $1,203 | $1,094 | $1,081 |
| 2017 | $1,043 | $1,163 | $1,044 | $1,088 |
| 2016 | $1,027 | $1,137 | $1,031 | $1,041 |
| 2015 | $1,017 | $1,110 | $1,006 | $1,005 |
| 2014 | $986 | $1,059 | $996 | $996 |
| 2013 | $953 | $1,024 | $925 | $938 |
| 2012 | $940 | $1,015 | $948 | $983 |
| 2011 | $941 | $1,025 | $944 | $953 |
| 2010 | $955 | $1,058 | $968 | $980 |
| 2009 | $960 | $1,085 | $987 | $953 |
| 2007 | $927 | $1,087 | $999 | $981 |
| 2005 | $910 | $1,011 | $798 | $820 |
Pasco 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 Pasco County Florida was 9.61% according to Census ACS data.
Rental Vacancy Rate in Pasco County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Pasco County FL | 9.61% | +2.22% | +2.15% |
Trends in Pasco County FL Rental Vacancy Rate
The rental vacancy rate in Pasco County peaked in 2009 at 16.68%. Since then it has fallen by 7.07% to 9.61%. Data records for this series originated in 2005. From a 2017 post peak low of 5.62%, the rental vacancy rate has increased by 3.99%.
Rental Vacancy Rate: Pasco County FL, Florida, US
Historical Rental Vacancy Rate data for Pasco County
| Date | US | Florida | Pasco County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 9.61% |
| 2018 | 6.15% | 8.52% | 7.39% |
| 2017 | 6.18% | 9.16% | 5.62% |
| 2016 | 5.89% | 8.30% | 7.46% |
| 2015 | 5.85% | 7.79% | 6.80% |
| 2014 | 6.32% | 8.66% | 10.83% |
| 2013 | 6.49% | 9.22% | 9.07% |
| 2012 | 6.77% | 9.37% | 8.94% |
| 2011 | 7.40% | 10.91% | 12.00% |
| 2010 | 8.17% | 12.17% | 13.24% |
| 2009 | 8.43% | 13.16% | 16.68% |
| 2007 | 7.87% | 11.55% | 9.66% |
| 2005 | 7.74% | 7.72% | 8.69% |
Rent as a Fraction of Income
Using median household income data for Pasco County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Pasco County, median monthly gross rent as a fraction of median household income was 23.15% in 2019 according to the ACS.
Pasco 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% |
| Pasco County FL | 23.15% | -0.65% | -2.40% |
Trends in Pasco County FL Rent as a Fraction of Income
The fraction of median Pasco County household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 25.88%. Since then it has fallen by 2.73% to 23.15%.
Fraction of Income towards Rent: Pasco County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Pasco County Florida
| Date | US | Florida | Pasco County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 23.15% |
| 2018 | 20.50% | 25.57% | 23.80% |
| 2017 | 20.13% | 25.74% | 23.67% |
| 2016 | 20.43% | 25.62% | 25.55% |
| 2015 | 20.63% | 25.40% | 24.66% |
| 2014 | 20.89% | 25.36% | 24.95% |
| 2013 | 20.78% | 25.34% | 23.07% |
| 2012 | 20.65% | 25.42% | 25.04% |
| 2011 | 20.70% | 25.71% | 25.73% |
| 2010 | 20.50% | 25.59% | 24.61% |
| 2009 | 20.12% | 25.54% | 25.88% |
| 2007 | 18.66% | 23.22% | 22.91% |
| 2005 | 18.89% | 22.88% | 19.35% |
Renter Fraction in Pasco County Florida
You can calculate the renter fraction in Pasco 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 Pasco County as a fraction of total Pasco County households. In 2019 25.12% of households were renters according to Census ACS data.
Pasco 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% |
| Pasco County FL | 25.12% | -1.11% | -3.03% |
Trends in the Pasco County FL Renter Fraction
The Pasco County household renter fraction peaked in in 2015 at 30.01% and is now 4.89% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Pasco County FL, Florida, US
History of Pasco County Renter Fraction
| Date | US | Florida | Pasco County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 25.12% |
| 2018 | 36.05% | 34.08% | 26.23% |
| 2017 | 36.13% | 34.85% | 29.69% |
| 2016 | 36.88% | 35.87% | 28.15% |
| 2015 | 36.97% | 36.22% | 30.01% |
| 2014 | 36.90% | 35.95% | 27.88% |
| 2013 | 36.50% | 35.21% | 26.49% |
| 2012 | 36.09% | 34.36% | 25.14% |
| 2011 | 35.42% | 33.28% | 22.73% |
| 2010 | 34.65% | 31.85% | 21.43% |
| 2009 | 34.13% | 31.52% | 22.27% |
| 2007 | 32.80% | 29.39% | 21.20% |
| 2005 | 33.10% | 30.43% | 18.90% |
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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