Department of Numbers

North Port Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in North Port, FL (the North Port-Bradenton-Sarasota metro area) was $1,056 in 2015 according to the Census ACS survey.1 Average gross rent in North Port was $1,129 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 North Port median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in North Port 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%
North Port, FL Median Gross Rent $1,056 +5.39% +12.46%

North Port, FL Real Gross Rent Trends

At $1,056, real median gross rent in North Port was at its highest level in 2015 since the series began in 2010. At $1,129, real average gross rent in North Port was at its highest level in 2015 since the series began in 2010.

Real Gross Rent in North Port: North Port FL Median, North Port FL Average, Florida Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for North Port

Date US
Median
Florida
Median
North Port, FL
Median
North Port, FL
Average
2015 $959 $1,046 $1,056 $1,129
2014 $930 $998 $1,002 $1,056
2013 $898 $965 $951 $1,008
2012 $886 $957 $939 $987
2011 $887 $966 $933 $999
2010 $901 $998 $962 $996
2009 $905 $1,023
2008 $920 $1,057
2007 $874 $1,024
2006 $883 $1,009
2005 $858 $953

North Port 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 North Port Florida was 9.86% according to Census ACS data.

Rental Vacancy Rate in North Port Florida

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Florida 7.79% -0.87% -1.58%
North Port, FL 9.86% +0.28% +0.57%

Trends in North Port, FL Rental Vacancy Rate

The rental vacancy rate in North Port peaked in 2010 at 15.72%. Since then it has fallen by 5.86% to 9.86%. Data records for this series originated in 2010. From a 2013 post peak low of 8.44%, the rental vacancy rate has increased by 1.42%.

Rental Vacancy Rate: North Port FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for North Port

Date US Florida North Port, FL
2015 5.85% 7.79% 9.86%
2014 6.32% 8.66% 9.58%
2013 6.49% 9.22% 8.44%
2012 6.77% 9.37% 9.29%
2011 7.40% 10.91% 13.10%
2010 8.17% 12.17% 15.72%
2009 8.43% 13.16%
2008 7.86% 12.67%
2007 7.87% 11.55%
2006 7.70% 8.32%
2005 7.74% 7.72%

Rent as a Fraction of Income

Using median household income data for North Port, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For North Port, median monthly gross rent as a fraction of median household income was 23.60% in 2015 according to the ACS.

North Port 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%
North Port, FL 23.60% +0.39% +0.11%

Trends in North Port, FL Rent as a Fraction of Income

The fraction of median North Port household income required to pay median monthly gross rent peaked in 2010 (relative to the 2010 series origin) at 24.19%. Since then it has fallen by 0.60% to 23.60%. From a 2014 low of 23.20%, the fraction of income going to rent has increased by 0.39%.

Fraction of Income towards Rent: North Port FL, Florida, US

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

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

Date US Florida North Port, FL
2015 20.63% 25.40% 23.60%
2014 20.89% 25.36% 23.20%
2013 20.78% 25.34% 23.81%
2012 20.65% 25.42% 23.49%
2011 20.70% 25.71% 24.13%
2010 20.50% 25.59% 24.19%
2009 20.12% 25.54%
2008 19.00% 23.79%
2007 18.66% 23.22%
2006 18.90% 23.00%
2005 18.89% 22.88%

Renter Fraction in North Port Florida

You can calculate the renter fraction in North Port 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 North Port as a fraction of total North Port households. In 2015 29.45% of households were renters according to Census ACS data.

North Port 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%
North Port, FL 29.45% -0.42% +1.25%

Trends in the North Port, FL Renter Fraction

The North Port household renter fraction peaked in in 2014 at 29.87% and is now 0.42% below that level. The origin year for the series is 2010.

Fraction of Renting Households: North Port FL, Florida, US

Fraction of renters in North Port

History of North Port Renter Fraction

Date US Florida North Port, FL
2015 36.97% 36.22% 29.45%
2014 36.90% 35.95% 29.87%
2013 36.50% 35.21% 27.16%
2012 36.09% 34.36% 28.20%
2011 35.42% 33.28% 28.23%
2010 34.65% 31.85% 25.93%
2009 34.13% 31.52%
2008 33.36% 30.33%
2007 32.80% 29.39%
2006 32.73% 29.72%
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.