Volusia County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Volusia County FL was $1,074 in 2019 according to the Census ACS survey.1 Average gross rent in Volusia County was $1,071 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 Volusia County median and average rent data will be released in September of 2021.
Data is also available below for Volusia County rental vacancy rates, Volusia County rent as a percent of median income and the fraction of renters in Volusia County.
Real Gross Rent in Volusia 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% |
| Volusia County FL Median Gross Rent | $1,074 | +4.07% | +7.51% |
Volusia County FL Real Gross Rent Trends
At $1,074, real median gross rent in Volusia County was at its highest level in 2019 since the series began in 2005. Average gross rent for Volusia County peaked in real terms in 2018 at $1,080 and is now $9 (0.83%) lower.
Real Gross Rent: Volusia County FL Median, Volusia County FL Average, Florida Median, US Median
Real Gross Rent History for Volusia County
| Date | US Median |
Florida Median |
Volusia County FL Median |
Volusia County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,074 | $1,071 |
| 2018 | $1,077 | $1,203 | $1,032 | $1,080 |
| 2017 | $1,043 | $1,163 | $1,054 | $1,031 |
| 2016 | $1,027 | $1,137 | $999 | $1,018 |
| 2015 | $1,017 | $1,110 | $996 | $1,004 |
| 2014 | $986 | $1,059 | $985 | $969 |
| 2013 | $953 | $1,024 | $954 | $950 |
| 2012 | $940 | $1,015 | $923 | $930 |
| 2011 | $941 | $1,025 | $933 | $946 |
| 2010 | $955 | $1,058 | $979 | $967 |
| 2009 | $960 | $1,085 | $948 | $947 |
| 2007 | $927 | $1,087 | $1,006 | $994 |
| 2005 | $910 | $1,011 | $955 | $931 |
Volusia 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 Volusia County Florida was 7.40% according to Census ACS data.
Rental Vacancy Rate in Volusia County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Volusia County FL | 7.40% | +0.12% | -0.30% |
Trends in Volusia County FL Rental Vacancy Rate
The rental vacancy rate in Volusia County peaked in 2007 at 13.34%. Since then it has fallen by 5.94% to 7.40%. Data records for this series originated in 2005. From a 2017 post peak low of 4.92%, the rental vacancy rate has increased by 2.48%.
Rental Vacancy Rate: Volusia County FL, Florida, US
Historical Rental Vacancy Rate data for Volusia County
| Date | US | Florida | Volusia County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 7.40% |
| 2018 | 6.15% | 8.52% | 7.28% |
| 2017 | 6.18% | 9.16% | 4.92% |
| 2016 | 5.89% | 8.30% | 7.70% |
| 2015 | 5.85% | 7.79% | 6.52% |
| 2014 | 6.32% | 8.66% | 8.37% |
| 2013 | 6.49% | 9.22% | 7.74% |
| 2012 | 6.77% | 9.37% | 9.61% |
| 2011 | 7.40% | 10.91% | 11.21% |
| 2010 | 8.17% | 12.17% | 10.96% |
| 2009 | 8.43% | 13.16% | 11.27% |
| 2007 | 7.87% | 11.55% | 13.34% |
| 2005 | 7.74% | 7.72% | 9.21% |
Rent as a Fraction of Income
Using median household income data for Volusia County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Volusia County, median monthly gross rent as a fraction of median household income was 23.97% in 2019 according to the ACS.
Volusia 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% |
| Volusia County FL | 23.97% | -0.19% | -1.26% |
Trends in Volusia County FL Rent as a Fraction of Income
The fraction of median Volusia County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 27.43%. Since then it has fallen by 3.46% to 23.97%.
Fraction of Income towards Rent: Volusia County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Volusia County Florida
| Date | US | Florida | Volusia County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 23.97% |
| 2018 | 20.50% | 25.57% | 24.16% |
| 2017 | 20.13% | 25.74% | 26.15% |
| 2016 | 20.43% | 25.62% | 25.23% |
| 2015 | 20.63% | 25.40% | 26.72% |
| 2014 | 20.89% | 25.36% | 27.43% |
| 2013 | 20.78% | 25.34% | 26.57% |
| 2012 | 20.65% | 25.42% | 25.97% |
| 2011 | 20.70% | 25.71% | 27.13% |
| 2010 | 20.50% | 25.59% | 25.30% |
| 2009 | 20.12% | 25.54% | 24.08% |
| 2007 | 18.66% | 23.22% | 24.30% |
| 2005 | 18.89% | 22.88% | 23.84% |
Renter Fraction in Volusia County Florida
You can calculate the renter fraction in Volusia 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 Volusia County as a fraction of total Volusia County households. In 2019 28.44% of households were renters according to Census ACS data.
Volusia 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% |
| Volusia County FL | 28.44% | -0.09% | -1.62% |
Trends in the Volusia County FL Renter Fraction
The Volusia County household renter fraction peaked in in 2013 at 31.39% and is now 2.95% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Volusia County FL, Florida, US
History of Volusia County Renter Fraction
| Date | US | Florida | Volusia County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 28.44% |
| 2018 | 36.05% | 34.08% | 28.53% |
| 2017 | 36.13% | 34.85% | 30.24% |
| 2016 | 36.88% | 35.87% | 30.06% |
| 2015 | 36.97% | 36.22% | 30.11% |
| 2014 | 36.90% | 35.95% | 29.89% |
| 2013 | 36.50% | 35.21% | 31.39% |
| 2012 | 36.09% | 34.36% | 29.57% |
| 2011 | 35.42% | 33.28% | 27.52% |
| 2010 | 34.65% | 31.85% | 25.28% |
| 2009 | 34.13% | 31.52% | 26.18% |
| 2007 | 32.80% | 29.39% | 23.98% |
| 2005 | 33.10% | 30.43% | 25.55% |
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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