Department of Numbers

Lee County Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Lee County FL was $1,116 in 2017 according to the Census ACS survey.1 Average gross rent in Lee County was $1,169 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 Lee County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Lee 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%
Lee County FL Median Gross Rent $1,116 +1.73% +16.01%

Lee County FL Real Gross Rent Trends

Median gross rent for Lee County peaked in real terms in 2007 at $1,150 and is now $34 (2.96%) lower. From a recent low of 928.0 in 2011, real median gross rent has now increased by $188 (20.26%). At $1,169, real average gross rent in Lee County was at its highest level in 2017 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Lee County

Date US
Median
Florida
Median
Lee County FL
Median
Lee County FL
Average
2017 $1,012 $1,128 $1,116 $1,169
2016 $996 $1,103 $1,097 $1,140
2015 $987 $1,076 $1,032 $1,063
2014 $956 $1,027 $962 $996
2013 $924 $993 $957 $997
2012 $912 $984 $934 $971
2011 $912 $994 $928 $976
2010 $927 $1,026 $946 $978
2009 $931 $1,052 $1,028 $1,042
2008 $947 $1,088 $1,097 $1,112
2007 $899 $1,054 $1,150 $1,155
2006 $909 $1,038 $1,149 $1,141

Lee 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 Lee County Florida was 11.09% according to Census ACS data.

Rental Vacancy Rate in Lee County Florida

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Florida 9.16% +0.86% +0.50%
Lee County FL 11.09% +4.30% +2.52%

Trends in Lee County FL Rental Vacancy Rate

The rental vacancy rate in Lee County peaked in 2007 at 21.74%. Since then it has fallen by 10.65% to 11.09%. Data records for this series originated in 2005. From a 2015 post peak low of 6.21%, the rental vacancy rate has increased by 4.88%.

Rental Vacancy Rate: Lee County FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Lee County

Date US Florida Lee County FL
2017 6.18% 9.16% 11.09%
2016 5.89% 8.30% 6.79%
2015 5.85% 7.79% 6.21%
2014 6.32% 8.66% 8.57%
2013 6.49% 9.22% 13.47%
2012 6.77% 9.37% 11.43%
2011 7.40% 10.91% 15.22%
2010 8.17% 12.17% 15.19%
2009 8.43% 13.16% 19.23%
2008 7.86% 12.67% 21.62%
2007 7.87% 11.55% 21.74%
2006 7.70% 8.32% 15.82%

Rent as a Fraction of Income

Using median household income data for Lee County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lee County, median monthly gross rent as a fraction of median household income was 24.83% in 2017 according to the ACS.

Lee 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%
Lee County FL 24.83% +0.34% +1.84%

Trends in Lee County FL Rent as a Fraction of Income

Lee County renters paid 24.83% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

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

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

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

Date US Florida Lee County FL
2017 20.13% 25.74% 24.83%
2016 20.43% 25.62% 24.49%
2015 20.63% 25.40% 23.76%
2014 20.89% 25.36% 22.99%
2013 20.78% 25.34% 24.24%
2012 20.65% 25.42% 23.47%
2011 20.70% 25.71% 23.49%
2010 20.50% 25.59% 23.84%
2009 20.12% 25.54% 24.61%
2008 19.00% 23.79% 22.58%
2007 18.66% 23.22% 23.88%
2006 18.90% 23.00% 23.85%

Renter Fraction in Lee County Florida

You can calculate the renter fraction in Lee 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 Lee County as a fraction of total Lee County households. In 2017 28.55% of households were renters according to Census ACS data.

Lee 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%
Lee County FL 28.55% -1.27% -4.43%

Trends in the Lee County FL Renter Fraction

The Lee County household renter fraction peaked in in 2014 at 32.98% and is now 4.43% below that level. The origin year for the series is 2005.

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

Fraction of renters in Lee County

History of Lee County Renter Fraction

Date US Florida Lee County FL
2017 36.13% 34.85% 28.55%
2016 36.88% 35.87% 29.82%
2015 36.97% 36.22% 30.67%
2014 36.90% 35.95% 32.98%
2013 36.50% 35.21% 30.73%
2012 36.09% 34.36% 31.88%
2011 35.42% 33.28% 28.94%
2010 34.65% 31.85% 29.02%
2009 34.13% 31.52% 26.84%
2008 33.36% 30.33% 24.95%
2007 32.80% 29.39% 25.83%
2006 32.73% 29.72% 25.00%

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.