Department of Numbers

Charlotte County Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Charlotte County FL was $952 in 2017 according to the Census ACS survey.1 Average gross rent in Charlotte County was $1,078 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 Charlotte County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Charlotte 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%
Charlotte County FL Median Gross Rent $952 -1.65% +9.55%

Charlotte County FL Real Gross Rent Trends

Median gross rent for Charlotte County peaked in real terms in 2006 at $1,119 and is now $167 (14.92%) lower. From a recent low of 867.0 in 2012, real median gross rent has now increased by $85 (9.80%). Average gross rent for Charlotte County peaked in real terms in 2007 at $1,110 and is now $32 (2.88%) lower. From a recent low of 869.0 in 2014, real average gross rent has now increased by $209 (24.05%).

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Charlotte County

Date US
Median
Florida
Median
Charlotte County FL
Median
Charlotte County FL
Average
2017 $1,012 $1,128 $952 $1,078
2016 $996 $1,103 $968 $962
2015 $987 $1,076 $959 $960
2014 $956 $1,027 $869 $869
2013 $924 $993 $907 $970
2012 $912 $984 $867 $919
2011 $912 $994 $931 $919
2010 $927 $1,026 $1,009 $1,028
2009 $931 $1,052 $957 $1,037
2008 $947 $1,088 $1,071 $988
2007 $899 $1,054 $1,073 $1,110
2006 $909 $1,038 $1,119 $1,091

Charlotte 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 Charlotte County Florida was 12.41% according to Census ACS data.

Rental Vacancy Rate in Charlotte County Florida

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Florida 9.16% +0.86% +0.50%
Charlotte County FL 12.41% -2.45% -4.54%

Trends in Charlotte County FL Rental Vacancy Rate

The rental vacancy rate in Charlotte County peaked in 2007 at 25.00%. Since then it has fallen by 12.59% to 12.41%. Data records for this series originated in 2005. From a 2010 post peak low of 8.34%, the rental vacancy rate has increased by 4.07%.

Rental Vacancy Rate: Charlotte County FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Charlotte County

Date US Florida Charlotte County FL
2017 6.18% 9.16% 12.41%
2016 5.89% 8.30% 14.86%
2015 5.85% 7.79% 10.77%
2014 6.32% 8.66% 16.95%
2013 6.49% 9.22% 8.34%
2012 6.77% 9.37% 18.04%
2011 7.40% 10.91% 21.53%
2010 8.17% 12.17% 8.34%
2009 8.43% 13.16% 15.89%
2008 7.86% 12.67% 15.31%
2007 7.87% 11.55% 25.00%
2006 7.70% 8.32% 10.43%

Rent as a Fraction of Income

Using median household income data for Charlotte County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Charlotte County, median monthly gross rent as a fraction of median household income was 21.94% in 2017 according to the ACS.

Charlotte 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%
Charlotte County FL 21.94% -3.93% -1.73%

Trends in Charlotte County FL Rent as a Fraction of Income

The fraction of median Charlotte County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 26.58%. Since then it has fallen by 4.64% to 21.94%.

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

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

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

Date US Florida Charlotte County FL
2017 20.13% 25.74% 21.94%
2016 20.43% 25.62% 25.87%
2015 20.63% 25.40% 24.58%
2014 20.89% 25.36% 23.67%
2013 20.78% 25.34% 24.39%
2012 20.65% 25.42% 22.28%
2011 20.70% 25.71% 25.90%
2010 20.50% 25.59% 26.58%
2009 20.12% 25.54% 25.75%
2008 19.00% 23.79% 24.10%
2007 18.66% 23.22% 24.20%
2006 18.90% 23.00% 25.54%

Renter Fraction in Charlotte County Florida

You can calculate the renter fraction in Charlotte 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 Charlotte County as a fraction of total Charlotte County households. In 2017 19.42% of households were renters according to Census ACS data.

Charlotte 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%
Charlotte County FL 19.42% -2.76% -1.41%

Trends in the Charlotte County FL Renter Fraction

The Charlotte County household renter fraction peaked in in 2015 at 24.14% and is now 4.72% below that level. The origin year for the series is 2005.

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

Fraction of renters in Charlotte County

History of Charlotte County Renter Fraction

Date US Florida Charlotte County FL
2017 36.13% 34.85% 19.42%
2016 36.88% 35.87% 22.18%
2015 36.97% 36.22% 24.14%
2014 36.90% 35.95% 20.83%
2013 36.50% 35.21% 21.38%
2012 36.09% 34.36% 20.25%
2011 35.42% 33.28% 22.25%
2010 34.65% 31.85% 22.24%
2009 34.13% 31.52% 23.08%
2008 33.36% 30.33% 22.87%
2007 32.80% 29.39% 17.52%
2006 32.73% 29.72% 17.06%

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.