Sebastian Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Sebastian, FL (the Sebastian-Vero Beach metro area) was $1,004 in 2019 according to the Census ACS survey.1 Average gross rent in Sebastian was $1,002 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 Sebastian median and average rent data will be released in September of 2021.
Data is also available below for Sebastian rental vacancy rates, Sebastian rent as a percent of median income and the fraction of renters in Sebastian.
Real Gross Rent in Sebastian 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% |
| Sebastian, FL Median Gross Rent | $1,004 | +5.02% | +5.13% |
Sebastian, FL Real Gross Rent Trends
Median gross rent for Sebastian peaked in real terms in 2008 at $1,081 and is now $77 (7.12%) lower. From a recent low of 820.0 in 2012, real median gross rent has now increased by $184 (22.44%). Average gross rent for Sebastian peaked in real terms in 2007 at $1,147 and is now $145 (12.64%) lower. From a recent low of 873.0 in 2012, real average gross rent has now increased by $129 (14.78%).
Real Gross Rent in Sebastian: Sebastian FL Median, Sebastian FL Average, Florida Median, US Median
Real Gross Rent History for Sebastian
| Date | US Median |
Florida Median |
Sebastian, FL Median |
Sebastian, FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,004 | $1,002 |
| 2018 | $1,077 | $1,203 | $956 | $912 |
| 2017 | $1,043 | $1,163 | $934 | $1,034 |
| 2016 | $1,027 | $1,137 | $955 | $1,089 |
| 2015 | $1,017 | $1,110 | $966 | $1,000 |
| 2014 | $986 | $1,059 | $976 | $1,025 |
| 2013 | $953 | $1,024 | $904 | $946 |
| 2012 | $940 | $1,015 | $820 | $873 |
| 2011 | $941 | $1,025 | $833 | $954 |
| 2010 | $955 | $1,058 | $980 | $1,086 |
| 2009 | $960 | $1,085 | $992 | $987 |
| 2007 | $927 | $1,087 | $1,061 | $1,147 |
| 2005 | $910 | $1,011 | — | — |
Sebastian 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 Sebastian Florida was 13.87% according to Census ACS data.
Rental Vacancy Rate in Sebastian Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Sebastian, FL | 13.87% | -20.58% | -18.50% |
Trends in Sebastian, FL Rental Vacancy Rate
The rental vacancy rate in Sebastian peaked in 2018 at 34.45%. Since then it has fallen by 20.58% to 13.87%. Data records for this series originated in 2006.
Rental Vacancy Rate: Sebastian FL, Florida, US
Historical Rental Vacancy Rate data for Sebastian
| Date | US | Florida | Sebastian, FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 13.87% |
| 2018 | 6.15% | 8.52% | 34.45% |
| 2017 | 6.18% | 9.16% | 24.28% |
| 2016 | 5.89% | 8.30% | 32.37% |
| 2015 | 5.85% | 7.79% | 24.90% |
| 2014 | 6.32% | 8.66% | 15.91% |
| 2013 | 6.49% | 9.22% | 14.07% |
| 2012 | 6.77% | 9.37% | 10.76% |
| 2011 | 7.40% | 10.91% | 16.95% |
| 2010 | 8.17% | 12.17% | 20.89% |
| 2009 | 8.43% | 13.16% | 15.48% |
| 2007 | 7.87% | 11.55% | 21.60% |
| 2005 | 7.74% | 7.72% | — |
Rent as a Fraction of Income
Using median household income data for Sebastian, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Sebastian, median monthly gross rent as a fraction of median household income was 20.15% in 2019 according to the ACS.
Sebastian 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% |
| Sebastian, FL | 20.15% | +0.56% | -2.15% |
Trends in Sebastian, FL Rent as a Fraction of Income
The fraction of median Sebastian household income required to pay median monthly gross rent peaked in 2009 (relative to the 2006 series origin) at 24.44%. Since then it has fallen by 4.29% to 20.15%. From a 2018 low of 19.59%, the fraction of income going to rent has increased by 0.56%.
Fraction of Income towards Rent: Sebastian FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Sebastian Florida
| Date | US | Florida | Sebastian, FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 20.15% |
| 2018 | 20.50% | 25.57% | 19.59% |
| 2017 | 20.13% | 25.74% | 22.11% |
| 2016 | 20.43% | 25.62% | 22.30% |
| 2015 | 20.63% | 25.40% | 22.14% |
| 2014 | 20.89% | 25.36% | 23.98% |
| 2013 | 20.78% | 25.34% | 24.28% |
| 2012 | 20.65% | 25.42% | 22.89% |
| 2011 | 20.70% | 25.71% | 23.27% |
| 2010 | 20.50% | 25.59% | 22.23% |
| 2009 | 20.12% | 25.54% | 24.44% |
| 2007 | 18.66% | 23.22% | 23.52% |
| 2005 | 18.89% | 22.88% | — |
Renter Fraction in Sebastian Florida
You can calculate the renter fraction in Sebastian 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 Sebastian as a fraction of total Sebastian households. In 2019 22.70% of households were renters according to Census ACS data.
Sebastian 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% |
| Sebastian, FL | 22.70% | +5.17% | +0.53% |
Trends in the Sebastian, FL Renter Fraction
The Sebastian household renter fraction peaked in in 2013 at 28.24% and is now 5.54% below that level. From a recent low of 17.53% in 2018, the household based renter fraction has now grown by 5.17%. The origin year for the series is 2006.
Fraction of Renting Households: Sebastian FL, Florida, US
History of Sebastian Renter Fraction
| Date | US | Florida | Sebastian, FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 22.70% |
| 2018 | 36.05% | 34.08% | 17.53% |
| 2017 | 36.13% | 34.85% | 22.06% |
| 2016 | 36.88% | 35.87% | 22.17% |
| 2015 | 36.97% | 36.22% | 22.96% |
| 2014 | 36.90% | 35.95% | 26.92% |
| 2013 | 36.50% | 35.21% | 28.24% |
| 2012 | 36.09% | 34.36% | 25.39% |
| 2011 | 35.42% | 33.28% | 23.83% |
| 2010 | 34.65% | 31.85% | 24.72% |
| 2009 | 34.13% | 31.52% | 26.30% |
| 2007 | 32.80% | 29.39% | 24.23% |
| 2005 | 33.10% | 30.43% | — |
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. ↩
