Department of Numbers

Pensacola Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Pensacola, FL (the Pensacola-Ferry Pass-Brent metro area) was $911 in 2015 according to the Census ACS survey.1 Average gross rent in Pensacola was $906 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 Pensacola median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Pensacola 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%
Pensacola, FL Median Gross Rent $911 -0.44% +0.77%

Pensacola, FL Real Gross Rent Trends

Median gross rent for Pensacola peaked in real terms in 2014 at $915 and is now $4 (0.44%) lower. Average gross rent for Pensacola peaked in real terms in 2011 at $976 and is now $70 (7.17%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Pensacola

Date US
Median
Florida
Median
Pensacola, FL
Median
Pensacola, FL
Average
2015 $959 $1,046 $911 $906
2014 $930 $998 $915 $905
2013 $898 $965 $890 $880
2012 $886 $957 $904 $865
2011 $887 $966 $903 $976
2010 $901 $998 $869 $860
2009 $905 $1,023 $904 $884
2008 $920 $1,057 $885 $904
2007 $874 $1,024 $845 $837
2006 $883 $1,009 $848 $816
2005 $858 $953 $805 $773

Pensacola 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 Pensacola Florida was 12.73% according to Census ACS data.

Rental Vacancy Rate in Pensacola Florida

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Florida 7.79% -0.87% -1.58%
Pensacola, FL 12.73% -3.63% -0.71%

Trends in Pensacola, FL Rental Vacancy Rate

The rental vacancy rate in Pensacola peaked in 2014 at 16.36%. Since then it has fallen by 3.63% to 12.73%. Data records for this series originated in 2005.

Rental Vacancy Rate: Pensacola FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Pensacola

Date US Florida Pensacola, FL
2015 5.85% 7.79% 12.73%
2014 6.32% 8.66% 16.36%
2013 6.49% 9.22% 13.03%
2012 6.77% 9.37% 13.44%
2011 7.40% 10.91% 13.01%
2010 8.17% 12.17% 8.41%
2009 8.43% 13.16% 11.54%
2008 7.86% 12.67% 11.59%
2007 7.87% 11.55% 10.59%
2006 7.70% 8.32% 11.26%
2005 7.74% 7.72% 5.74%

Rent as a Fraction of Income

Using median household income data for Pensacola, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Pensacola, median monthly gross rent as a fraction of median household income was 21.62% in 2015 according to the ACS.

Pensacola 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%
Pensacola, FL 21.62% -0.43% -0.04%

Trends in Pensacola, FL Rent as a Fraction of Income

The fraction of median Pensacola household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 23.19%. Since then it has fallen by 1.57% to 21.62%.

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

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

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

Date US Florida Pensacola, FL
2015 20.63% 25.40% 21.62%
2014 20.89% 25.36% 22.05%
2013 20.78% 25.34% 22.74%
2012 20.65% 25.42% 21.66%
2011 20.70% 25.71% 23.19%
2010 20.50% 25.59% 22.51%
2009 20.12% 25.54% 22.16%
2008 19.00% 23.79% 20.57%
2007 18.66% 23.22% 20.57%
2006 18.90% 23.00% 19.51%
2005 18.89% 22.88% 19.51%

Renter Fraction in Pensacola Florida

You can calculate the renter fraction in Pensacola 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 Pensacola as a fraction of total Pensacola households. In 2015 35.70% of households were renters according to Census ACS data.

Pensacola 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%
Pensacola, FL 35.70% -1.34% -0.20%

Trends in the Pensacola, FL Renter Fraction

The Pensacola household renter fraction peaked in in 2014 at 37.04% and is now 1.34% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Pensacola FL, Florida, US

Fraction of renters in Pensacola

History of Pensacola Renter Fraction

Date US Florida Pensacola, FL
2015 36.97% 36.22% 35.70%
2014 36.90% 35.95% 37.04%
2013 36.50% 35.21% 35.17%
2012 36.09% 34.36% 35.90%
2011 35.42% 33.28% 31.38%
2010 34.65% 31.85% 30.24%
2009 34.13% 31.52% 32.15%
2008 33.36% 30.33% 27.54%
2007 32.80% 29.39% 27.76%
2006 32.73% 29.72% 28.62%
2005 33.10% 30.43% 29.90%

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.