Department of Numbers

Gainesville Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Gainesville, FL (the Gainesville metro area) was $858 in 2015 according to the Census ACS survey.1 Average gross rent in Gainesville was $917 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Gainesville median and average rent data will be released in September of 2017.

Data is also available below for Gainesville rental vacancy rates, Gainesville rent as a percent of median income and the fraction of renters in Gainesville.

Show dollars as: Nominal Real

Real Gross Rent in Gainesville Florida (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Florida Median Gross Rent $1,046 +4.81% +9.30%
Gainesville, FL Median Gross Rent $858 -1.49% +1.66%

Gainesville, FL Real Gross Rent Trends

Median gross rent for Gainesville peaked in real terms in 2008 at $945 and is now $87 (9.21%) lower. Average gross rent for Gainesville peaked in real terms in 2008 at $999 and is now $82 (8.21%) lower. From a recent low of 832.0 in 2013, real average gross rent has now increased by $85 (10.22%).

Real Gross Rent in Gainesville: Gainesville FL Median, Gainesville FL Average, Florida Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Gainesville

Date US
Median
Florida
Median
Gainesville, FL
Median
Gainesville, FL
Average
2015 $959 $1,046 $858 $917
2014 $930 $998 $871 $887
2013 $898 $965 $825 $832
2012 $886 $957 $844 $898
2011 $887 $966 $838 $908
2010 $901 $998 $930 $962
2009 $905 $1,023 $935 $971
2008 $920 $1,057 $945 $999
2007 $874 $1,024 $848 $888
2006 $883 $1,009 $887 $867
2005 $858 $953 $824 $865

Gainesville Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Gainesville Florida was 10.11% according to Census ACS data.

Rental Vacancy Rate in Gainesville Florida

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Florida 7.79% -0.87% -1.58%
Gainesville, FL 10.11% -1.05% -0.24%

Trends in Gainesville, FL Rental Vacancy Rate

The rental vacancy rate in Gainesville peaked in 2010 at 14.58%. Since then it has fallen by 4.47% to 10.11%. Data records for this series originated in 2005.

Rental Vacancy Rate: Gainesville FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Gainesville

Date US Florida Gainesville, FL
2015 5.85% 7.79% 10.11%
2014 6.32% 8.66% 11.16%
2013 6.49% 9.22% 10.87%
2012 6.77% 9.37% 10.35%
2011 7.40% 10.91% 8.13%
2010 8.17% 12.17% 14.58%
2009 8.43% 13.16% 9.22%
2008 7.86% 12.67% 5.09%
2007 7.87% 11.55% 4.44%
2006 7.70% 8.32% 5.89%
2005 7.74% 7.72% 6.35%

Rent as a Fraction of Income

Using median household income data for Gainesville, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Gainesville, median monthly gross rent as a fraction of median household income was 21.93% in 2015 according to the ACS.

Gainesville Florida Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Florida 25.40% +0.04% -0.02%
Gainesville, FL 21.93% -1.22% -2.58%

Trends in Gainesville, FL Rent as a Fraction of Income

The fraction of median Gainesville household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 27.73%. Since then it has fallen by 5.80% to 21.93%.

Fraction of Income towards Rent: Gainesville FL, Florida, US

Percent of median household income going towards median monthly gross rent in Gainesville Florida

Historical Data for Annual Rent as a Fraction of Income in Gainesville Florida

Date US Florida Gainesville, FL
2015 20.63% 25.40% 21.93%
2014 20.89% 25.36% 23.15%
2013 20.78% 25.34% 25.80%
2012 20.65% 25.42% 24.51%
2011 20.70% 25.71% 25.01%
2010 20.50% 25.59% 26.31%
2009 20.12% 25.54% 27.73%
2008 19.00% 23.79% 23.97%
2007 18.66% 23.22% 24.17%
2006 18.90% 23.00% 24.79%
2005 18.89% 22.88% 23.17%

Renter Fraction in Gainesville Florida

You can calculate the renter fraction in Gainesville 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 Gainesville as a fraction of total Gainesville households. In 2015 44.50% of households were renters according to Census ACS data.

Gainesville Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Florida 36.22% +0.27% +1.86%
Gainesville, FL 44.50% -1.27% +1.43%

Trends in the Gainesville, FL Renter Fraction

The Gainesville household renter fraction peaked in in 2011 at 48.63% and is now 4.13% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Gainesville FL, Florida, US

Fraction of renters in Gainesville

History of Gainesville Renter Fraction

Date US Florida Gainesville, FL
2015 36.97% 36.22% 44.50%
2014 36.90% 35.95% 45.77%
2013 36.50% 35.21% 46.84%
2012 36.09% 34.36% 43.07%
2011 35.42% 33.28% 48.63%
2010 34.65% 31.85% 42.58%
2009 34.13% 31.52% 43.83%
2008 33.36% 30.33% 42.72%
2007 32.80% 29.39% 42.85%
2006 32.73% 29.72% 44.70%
2005 33.10% 30.43% 47.23%

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.