Pensacola Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Pensacola, FL (the Pensacola-Ferry Pass-Brent metro area) was $1,040 in 2019 according to the Census ACS survey.1 Average gross rent in Pensacola was $1,012 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 Pensacola median and average rent data will be released in September of 2021.
Data is also available below for Pensacola rental vacancy rates, Pensacola rent as a percent of median income and the fraction of renters in Pensacola.
Real Gross Rent in Pensacola 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% |
| Pensacola, FL Median Gross Rent | $1,040 | +2.26% | +7.33% |
Pensacola, FL Real Gross Rent Trends
At $1,040, real median gross rent in Pensacola was at its highest level in 2019 since the series began in 2005. Average gross rent for Pensacola peaked in real terms in 2011 at $1,036 and is now $24 (2.32%) lower.
Real Gross Rent in Pensacola: Pensacola FL Median, Pensacola FL Average, Florida Median, US Median
Real Gross Rent History for Pensacola
| Date | US Median |
Florida Median |
Pensacola, FL Median |
Pensacola, FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,040 | $1,012 |
| 2018 | $1,077 | $1,203 | $1,017 | $1,033 |
| 2017 | $1,043 | $1,163 | $1,005 | $973 |
| 2016 | $1,027 | $1,137 | $969 | $959 |
| 2015 | $1,017 | $1,110 | $966 | $961 |
| 2014 | $986 | $1,059 | $970 | $960 |
| 2013 | $953 | $1,024 | $945 | $933 |
| 2012 | $940 | $1,015 | $958 | $918 |
| 2011 | $941 | $1,025 | $958 | $1,036 |
| 2010 | $955 | $1,058 | $922 | $912 |
| 2009 | $960 | $1,085 | $959 | $938 |
| 2007 | $927 | $1,087 | $896 | $888 |
| 2005 | $910 | $1,011 | $854 | $820 |
Pensacola 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 Pensacola Florida was 4.70% according to Census ACS data.
Rental Vacancy Rate in Pensacola Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Pensacola, FL | 4.70% | -7.75% | -8.85% |
Trends in Pensacola, FL Rental Vacancy Rate
The rental vacancy rate in Pensacola peaked in 2014 at 16.36%. Since then it has fallen by 11.66% to 4.70%. Data records for this series originated in 2005.
Rental Vacancy Rate: Pensacola FL, Florida, US
Historical Rental Vacancy Rate data for Pensacola
| Date | US | Florida | Pensacola, FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 4.70% |
| 2018 | 6.15% | 8.52% | 12.45% |
| 2017 | 6.18% | 9.16% | 8.25% |
| 2016 | 5.89% | 8.30% | 13.55% |
| 2015 | 5.85% | 7.79% | 12.73% |
| 2014 | 6.32% | 8.66% | 16.36% |
| 2013 | 6.49% | 9.22% | 13.03% |
| 2012 | 6.77% | 9.37% | 13.44% |
| 2011 | 7.40% | 10.91% | 13.01% |
| 2010 | 8.17% | 12.17% | 8.41% |
| 2009 | 8.43% | 13.16% | 11.54% |
| 2007 | 7.87% | 11.55% | 10.59% |
| 2005 | 7.74% | 7.72% | 5.74% |
Rent as a Fraction of Income
Using median household income data for Pensacola, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Pensacola, median monthly gross rent as a fraction of median household income was 22.09% in 2019 according to the ACS.
Pensacola 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% |
| Pensacola, FL | 22.09% | +1.42% | +0.10% |
Trends in Pensacola, FL Rent as a Fraction of Income
The fraction of median Pensacola household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 23.19%. Since then it has fallen by 1.10% to 22.09%.
Fraction of Income towards Rent: Pensacola FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Pensacola Florida
| Date | US | Florida | Pensacola, FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 22.09% |
| 2018 | 20.50% | 25.57% | 20.67% |
| 2017 | 20.13% | 25.74% | 21.92% |
| 2016 | 20.43% | 25.62% | 21.98% |
| 2015 | 20.63% | 25.40% | 21.62% |
| 2014 | 20.89% | 25.36% | 22.05% |
| 2013 | 20.78% | 25.34% | 22.74% |
| 2012 | 20.65% | 25.42% | 21.66% |
| 2011 | 20.70% | 25.71% | 23.19% |
| 2010 | 20.50% | 25.59% | 22.51% |
| 2009 | 20.12% | 25.54% | 22.16% |
| 2007 | 18.66% | 23.22% | 20.57% |
| 2005 | 18.89% | 22.88% | 19.51% |
Renter Fraction in Pensacola Florida
You can calculate the renter fraction in Pensacola 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 Pensacola as a fraction of total Pensacola households. In 2019 34.34% of households were renters according to Census ACS data.
Pensacola 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% |
| Pensacola, FL | 34.34% | +2.37% | +0.39% |
Trends in the Pensacola, FL Renter Fraction
The Pensacola household renter fraction peaked in in 2014 at 37.04% and is now 2.70% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Pensacola FL, Florida, US
History of Pensacola Renter Fraction
| Date | US | Florida | Pensacola, FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 34.34% |
| 2018 | 36.05% | 34.08% | 31.97% |
| 2017 | 36.13% | 34.85% | 33.05% |
| 2016 | 36.88% | 35.87% | 33.95% |
| 2015 | 36.97% | 36.22% | 35.70% |
| 2014 | 36.90% | 35.95% | 37.04% |
| 2013 | 36.50% | 35.21% | 35.17% |
| 2012 | 36.09% | 34.36% | 35.90% |
| 2011 | 35.42% | 33.28% | 31.38% |
| 2010 | 34.65% | 31.85% | 30.24% |
| 2009 | 34.13% | 31.52% | 32.15% |
| 2007 | 32.80% | 29.39% | 27.76% |
| 2005 | 33.10% | 30.43% | 29.90% |
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. ↩
