Department of Numbers

Bay County Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Bay County FL was $982 in 2017 according to the Census ACS survey.1 Average gross rent in Bay County was $977 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Bay County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Bay County Florida (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Florida Median Gross Rent $1,128 +2.27% +9.83%
Bay County FL Median Gross Rent $982 -1.01% +3.70%

Bay County FL Real Gross Rent Trends

Median gross rent for Bay County peaked in real terms in 2015 at $1,010 and is now $28 (2.77%) lower. Average gross rent for Bay County peaked in real terms in 2015 at $1,035 and is now $58 (5.60%) lower.

Real Gross Rent: Bay County FL Median, Bay County FL Average, Florida Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bay County

Date US
Median
Florida
Median
Bay County FL
Median
Bay County FL
Average
2017 $1,012 $1,128 $982 $977
2016 $996 $1,103 $992 $985
2015 $987 $1,076 $1,010 $1,035
2014 $956 $1,027 $947 $931
2013 $924 $993 $903 $921
2012 $912 $984 $930 $890
2011 $912 $994 $956 $924
2010 $927 $1,026 $996 $982
2009 $931 $1,052 $993 $976
2008 $947 $1,088 $986 $972
2007 $899 $1,054 $986 $909
2006 $909 $1,038 $899 $890

Bay County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Bay County Florida was 21.63% according to Census ACS data.

Rental Vacancy Rate in Bay County Florida

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Florida 9.16% +0.86% +0.50%
Bay County FL 21.63% -6.97% -9.43%

Trends in Bay County FL Rental Vacancy Rate

The rental vacancy rate in Bay County peaked in 2013 at 34.85%. Since then it has fallen by 13.22% to 21.63%. Data records for this series originated in 2005.

Rental Vacancy Rate: Bay County FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Bay County

Date US Florida Bay County FL
2017 6.18% 9.16% 21.63%
2016 5.89% 8.30% 28.60%
2015 5.85% 7.79% 26.56%
2014 6.32% 8.66% 31.06%
2013 6.49% 9.22% 34.85%
2012 6.77% 9.37% 27.09%
2011 7.40% 10.91% 14.16%
2010 8.17% 12.17% 28.46%
2009 8.43% 13.16% 22.50%
2008 7.86% 12.67% 22.75%
2007 7.87% 11.55% 23.32%
2006 7.70% 8.32% 17.85%

Rent as a Fraction of Income

Using median household income data for Bay County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bay County, median monthly gross rent as a fraction of median household income was 22.48% in 2017 according to the ACS.

Bay County Florida Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Florida 25.74% +0.11% +0.38%
Bay County FL 22.48% -1.37% -2.31%

Trends in Bay County FL Rent as a Fraction of Income

The fraction of median Bay County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 24.79%. Since then it has fallen by 2.31% to 22.48%.

Fraction of Income towards Rent: Bay County FL, Florida, US

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

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

Date US Florida Bay County FL
2017 20.13% 25.74% 22.48%
2016 20.43% 25.62% 23.85%
2015 20.63% 25.40% 24.42%
2014 20.89% 25.36% 24.79%
2013 20.78% 25.34% 23.27%
2012 20.65% 25.42% 23.50%
2011 20.70% 25.71% 24.73%
2010 20.50% 25.59% 24.57%
2009 20.12% 25.54% 24.29%
2008 19.00% 23.79% 22.51%
2007 18.66% 23.22% 21.19%
2006 18.90% 23.00% 20.09%

Renter Fraction in Bay County Florida

You can calculate the renter fraction in Bay County 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 Bay County as a fraction of total Bay County households. In 2017 38.43% of households were renters according to Census ACS data.

Bay County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Florida 34.85% -1.02% -1.10%
Bay County FL 38.43% +2.50% +0.32%

Trends in the Bay County FL Renter Fraction

The Bay County household renter fraction peaked in in 2012 at 40.13% and is now 1.70% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bay County FL, Florida, US

Fraction of renters in Bay County

History of Bay County Renter Fraction

Date US Florida Bay County FL
2017 36.13% 34.85% 38.43%
2016 36.88% 35.87% 35.93%
2015 36.97% 36.22% 38.46%
2014 36.90% 35.95% 38.11%
2013 36.50% 35.21% 40.00%
2012 36.09% 34.36% 40.13%
2011 35.42% 33.28% 37.74%
2010 34.65% 31.85% 36.44%
2009 34.13% 31.52% 34.55%
2008 33.36% 30.33% 34.62%
2007 32.80% 29.39% 31.77%
2006 32.73% 29.72% 36.89%

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.