Department of Numbers

Ocala Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Ocala, FL (the Ocala metro area) was $776 in 2015 according to the Census ACS survey.1 Average gross rent in Ocala was $703 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 Ocala median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Ocala 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%
Ocala, FL Median Gross Rent $776 -3.84% +0.26%

Ocala, FL Real Gross Rent Trends

Median gross rent for Ocala peaked in real terms in 2008 at $1,013 and is now $237 (23.40%) lower. From a recent low of 774.0 in 2012, real median gross rent has now increased by $2 (0.26%). Average gross rent for Ocala peaked in real terms in 2008 at $911 and is now $208 (22.83%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Ocala

Date US
Median
Florida
Median
Ocala, FL
Median
Ocala, FL
Average
2015 $959 $1,046 $776 $703
2014 $930 $998 $807 $734
2013 $898 $965 $781 $737
2012 $886 $957 $774 $747
2011 $887 $966 $806 $736
2010 $901 $998 $865 $807
2009 $905 $1,023 $858 $814
2008 $920 $1,057 $1,013 $911
2007 $874 $1,024 $814 $735
2006 $883 $1,009 $872 $795
2005 $858 $953 $792 $741

Ocala 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 Ocala Florida was 11.93% according to Census ACS data.

Rental Vacancy Rate in Ocala Florida

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Florida 7.79% -0.87% -1.58%
Ocala, FL 11.93% +2.47% +4.52%

Trends in Ocala, FL Rental Vacancy Rate

The rental vacancy rate in Ocala peaked in 2010 at 16.74%. Since then it has fallen by 4.81% to 11.93%. Data records for this series originated in 2005.

Rental Vacancy Rate: Ocala FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Ocala

Date US Florida Ocala, FL
2015 5.85% 7.79% 11.93%
2014 6.32% 8.66% 9.46%
2013 6.49% 9.22% 8.75%
2012 6.77% 9.37% 7.41%
2011 7.40% 10.91% 10.01%
2010 8.17% 12.17% 16.74%
2009 8.43% 13.16% 14.22%
2008 7.86% 12.67% 13.16%
2007 7.87% 11.55% 14.16%
2006 7.70% 8.32% 7.07%
2005 7.74% 7.72% 10.26%

Rent as a Fraction of Income

Using median household income data for Ocala, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Ocala, median monthly gross rent as a fraction of median household income was 23.25% in 2015 according to the ACS.

Ocala 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%
Ocala, FL 23.25% -1.10% -1.72%

Trends in Ocala, FL Rent as a Fraction of Income

The fraction of median Ocala household income required to pay median monthly gross rent peaked in 2008 (relative to the 2005 series origin) at 27.09%. Since then it has fallen by 3.84% to 23.25%.

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

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

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

Date US Florida Ocala, FL
2015 20.63% 25.40% 23.25%
2014 20.89% 25.36% 24.36%
2013 20.78% 25.34% 24.41%
2012 20.65% 25.42% 24.97%
2011 20.70% 25.71% 26.21%
2010 20.50% 25.59% 26.60%
2009 20.12% 25.54% 24.56%
2008 19.00% 23.79% 27.09%
2007 18.66% 23.22% 22.45%
2006 18.90% 23.00% 22.56%
2005 18.89% 22.88% 22.33%

Renter Fraction in Ocala Florida

You can calculate the renter fraction in Ocala 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 Ocala as a fraction of total Ocala households. In 2015 23.97% of households were renters according to Census ACS data.

Ocala 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%
Ocala, FL 23.97% +0.01% -1.51%

Trends in the Ocala, FL Renter Fraction

The Ocala household renter fraction peaked in in 2013 at 25.84% and is now 1.87% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Ocala FL, Florida, US

Fraction of renters in Ocala

History of Ocala Renter Fraction

Date US Florida Ocala, FL
2015 36.97% 36.22% 23.97%
2014 36.90% 35.95% 23.96%
2013 36.50% 35.21% 25.84%
2012 36.09% 34.36% 25.48%
2011 35.42% 33.28% 24.43%
2010 34.65% 31.85% 21.64%
2009 34.13% 31.52% 21.17%
2008 33.36% 30.33% 25.21%
2007 32.80% 29.39% 21.61%
2006 32.73% 29.72% 22.09%
2005 33.10% 30.43% 20.48%

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.