Department of Numbers

Naples Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Naples, FL (the Naples-Marco Island metro area) was $1,177 in 2015 according to the Census ACS survey.1 Average gross rent in Naples was $1,221 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 Naples median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Naples 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%
Naples, FL Median Gross Rent $1,177 +9.08% +13.83%

Naples, FL Real Gross Rent Trends

Median gross rent for Naples peaked in real terms in 2008 at $1,234 and is now $57 (4.62%) lower. From a recent low of 930.0 in 2011, real median gross rent has now increased by $247 (26.56%). Average gross rent for Naples peaked in real terms in 2008 at $1,317 and is now $96 (7.29%) lower. From a recent low of 1003.0 in 2011, real average gross rent has now increased by $218 (21.73%).

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Naples

Date US
Median
Florida
Median
Naples, FL
Median
Naples, FL
Average
2015 $959 $1,046 $1,177 $1,221
2014 $930 $998 $1,079 $1,099
2013 $898 $965 $986 $1,064
2012 $886 $957 $1,034 $1,101
2011 $887 $966 $930 $1,003
2010 $901 $998 $992 $1,045
2009 $905 $1,023 $1,067 $1,127
2008 $920 $1,057 $1,234 $1,317
2007 $874 $1,024 $1,160 $1,165
2006 $883 $1,009 $1,176 $1,229
2005 $858 $953 $1,175 $1,256

Naples 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 Naples Florida was 9.99% according to Census ACS data.

Rental Vacancy Rate in Naples Florida

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Florida 7.79% -0.87% -1.58%
Naples, FL 9.99% -0.82% -3.23%

Trends in Naples, FL Rental Vacancy Rate

The rental vacancy rate in Naples peaked in 2010 at 15.97%. Since then it has fallen by 5.98% to 9.99%. Data records for this series originated in 2005.

Rental Vacancy Rate: Naples FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Naples

Date US Florida Naples, FL
2015 5.85% 7.79% 9.99%
2014 6.32% 8.66% 10.81%
2013 6.49% 9.22% 11.93%
2012 6.77% 9.37% 13.22%
2011 7.40% 10.91% 11.15%
2010 8.17% 12.17% 15.97%
2009 8.43% 13.16% 14.51%
2008 7.86% 12.67% 15.08%
2007 7.87% 11.55% 12.24%
2006 7.70% 8.32% 11.04%
2005 7.74% 7.72% 9.37%

Rent as a Fraction of Income

Using median household income data for Naples, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Naples, median monthly gross rent as a fraction of median household income was 22.73% in 2015 according to the ACS.

Naples 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%
Naples, FL 22.73% +0.32% -0.12%

Trends in Naples, FL Rent as a Fraction of Income

The fraction of median Naples household income required to pay median monthly gross rent peaked in 2005 (relative to the 2005 series origin) at 22.93%. Since then it has fallen by 0.19% to 22.73%. From a 2010 low of 21.44%, the fraction of income going to rent has increased by 1.30%.

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

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

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

Date US Florida Naples, FL
2015 20.63% 25.40% 22.73%
2014 20.89% 25.36% 22.42%
2013 20.78% 25.34% 21.90%
2012 20.65% 25.42% 22.86%
2011 20.70% 25.71% 21.67%
2010 20.50% 25.59% 21.44%
2009 20.12% 25.54% 22.49%
2008 19.00% 23.79% 21.68%
2007 18.66% 23.22% 21.79%
2006 18.90% 23.00% 21.82%
2005 18.89% 22.88% 22.93%

Renter Fraction in Naples Florida

You can calculate the renter fraction in Naples 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 Naples as a fraction of total Naples households. In 2015 27.79% of households were renters according to Census ACS data.

Naples 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%
Naples, FL 27.79% -0.63% +1.99%

Trends in the Naples, FL Renter Fraction

The Naples household renter fraction peaked in in 2013 at 29.01% and is now 1.22% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Naples FL, Florida, US

Fraction of renters in Naples

History of Naples Renter Fraction

Date US Florida Naples, FL
2015 36.97% 36.22% 27.79%
2014 36.90% 35.95% 28.42%
2013 36.50% 35.21% 29.01%
2012 36.09% 34.36% 25.80%
2011 35.42% 33.28% 26.37%
2010 34.65% 31.85% 25.34%
2009 34.13% 31.52% 23.62%
2008 33.36% 30.33% 22.87%
2007 32.80% 29.39% 23.96%
2006 32.73% 29.72% 24.00%
2005 33.10% 30.43% 26.12%

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.