Charlotte County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Charlotte County FL was $1,006 in 2019 according to the Census ACS survey.1 Average gross rent in Charlotte County was $1,031 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Charlotte County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Charlotte County Florida (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Florida Median Gross Rent | $1,238 | +2.91% | +8.88% |
| Charlotte County FL Median Gross Rent | $1,006 | -5.89% | +0.80% |
Charlotte County FL Real Gross Rent Trends
Median gross rent for Charlotte County peaked in real terms in 2006 at $1,154 and is now $148 (12.82%) lower. From a recent low of 894.0 in 2012, real median gross rent has now increased by $112 (12.53%). Average gross rent for Charlotte County peaked in real terms in 2018 at $1,157 and is now $126 (10.89%) lower.
Real Gross Rent: Charlotte County FL Median, Charlotte County FL Average, Florida Median, US Median
Real Gross Rent History for Charlotte County
| Date | US Median |
Florida Median |
Charlotte County FL Median |
Charlotte County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,006 | $1,031 |
| 2018 | $1,077 | $1,203 | $1,069 | $1,157 |
| 2017 | $1,043 | $1,163 | $982 | $1,112 |
| 2016 | $1,027 | $1,137 | $998 | $992 |
| 2015 | $1,017 | $1,110 | $989 | $990 |
| 2014 | $986 | $1,059 | $896 | $896 |
| 2013 | $953 | $1,024 | $935 | $1,000 |
| 2012 | $940 | $1,015 | $894 | $948 |
| 2011 | $941 | $1,025 | $960 | $947 |
| 2010 | $955 | $1,058 | $1,040 | $1,060 |
| 2009 | $960 | $1,085 | $987 | $1,069 |
| 2007 | $927 | $1,087 | $1,107 | $1,144 |
| 2005 | $910 | $1,011 | $994 | $1,115 |
Charlotte County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Charlotte County Florida was 18.39% according to Census ACS data.
Rental Vacancy Rate in Charlotte County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Charlotte County FL | 18.39% | +3.61% | +3.53% |
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 6.61% to 18.39%. Data records for this series originated in 2005. From a 2010 post peak low of 8.34%, the rental vacancy rate has increased by 10.05%.
Rental Vacancy Rate: Charlotte County FL, Florida, US
Historical Rental Vacancy Rate data for Charlotte County
| Date | US | Florida | Charlotte County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 18.39% |
| 2018 | 6.15% | 8.52% | 14.78% |
| 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% |
| 2007 | 7.87% | 11.55% | 25.00% |
| 2005 | 7.74% | 7.72% | 8.84% |
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 22.09% in 2019 according to the ACS.
Charlotte County Florida Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Florida | 25.08% | -0.49% | -0.54% |
| Charlotte County FL | 22.09% | -1.72% | -3.78% |
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 4.49% to 22.09%. From a 2017 low of 21.94%, the fraction of income going to rent has increased by 0.15%.
Fraction of Income towards Rent: Charlotte County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Charlotte County Florida
| Date | US | Florida | Charlotte County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 22.09% |
| 2018 | 20.50% | 25.57% | 23.81% |
| 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% |
| 2007 | 18.66% | 23.22% | 24.20% |
| 2005 | 18.89% | 22.88% | 24.40% |
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 2019 18.14% of households were renters according to Census ACS data.
Charlotte County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Florida | 33.75% | -0.33% | -2.12% |
| Charlotte County FL | 18.14% | +1.51% | -4.04% |
Trends in the Charlotte County FL Renter Fraction
The Charlotte County household renter fraction peaked in in 2015 at 24.14% and is now 6.00% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Charlotte County FL, Florida, US
History of Charlotte County Renter Fraction
| Date | US | Florida | Charlotte County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 18.14% |
| 2018 | 36.05% | 34.08% | 16.63% |
| 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% |
| 2007 | 32.80% | 29.39% | 17.52% |
| 2005 | 33.10% | 30.43% | 14.92% |
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. ↩
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