Department of Numbers

Okaloosa County Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Okaloosa County FL was $1,150 in 2019 according to the Census ACS survey.1 Average gross rent in Okaloosa County was $1,134 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 Okaloosa County median and average rent data will be released in September of 2021.

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

Show dollars as: Nominal Real

Real Gross Rent in Okaloosa 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%
Okaloosa County FL Median Gross Rent $1,150 +0.52% +8.39%

Okaloosa County FL Real Gross Rent Trends

At $1,150, real median gross rent in Okaloosa County was at its highest level in 2019 since the series began in 2005. At $1,134, real average gross rent in Okaloosa County was at its highest level in 2019 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Okaloosa County

Date US
Median
Florida
Median
Okaloosa County FL
Median
Okaloosa County FL
Average
2019 $1,097 $1,238 $1,150 $1,134
2018 $1,077 $1,203 $1,144 $1,114
2017 $1,043 $1,163 $1,125 $1,124
2016 $1,027 $1,137 $1,061 $1,060
2015 $1,017 $1,110 $1,131 $1,116
2014 $986 $1,059 $1,098 $1,107
2013 $953 $1,024 $1,036 $987
2012 $940 $1,015 $1,048 $1,027
2011 $941 $1,025 $1,013 $974
2010 $955 $1,058 $1,107 $1,039
2009 $960 $1,085 $1,047 $1,005

more history ...

Okaloosa 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 Okaloosa County Florida was 13.11% according to Census ACS data.

Rental Vacancy Rate in Okaloosa County Florida

2019 1 Year Change 3 Year Change
US 5.97% -0.18% +0.08%
Florida 8.72% +0.20% +0.42%
Okaloosa County FL 13.11% +3.46% +2.13%

Trends in Okaloosa County FL Rental Vacancy Rate

The rental vacancy rate in Okaloosa County peaked in 2009 at 27.57%. Since then it has fallen by 14.46% to 13.11%. Data records for this series originated in 2005.

Rental Vacancy Rate: Okaloosa County FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Okaloosa County

Date US Florida Okaloosa County FL
2019 5.97% 8.72% 13.11%
2018 6.15% 8.52% 9.65%
2017 6.18% 9.16% 6.37%
2016 5.89% 8.30% 10.98%
2015 5.85% 7.79% 5.42%
2014 6.32% 8.66% 7.74%
2013 6.49% 9.22% 6.48%
2012 6.77% 9.37% 10.76%
2011 7.40% 10.91% 23.01%
2010 8.17% 12.17% 21.80%
2009 8.43% 13.16% 27.57%

more history ...

Rent as a Fraction of Income

Using median household income data for Okaloosa County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Okaloosa County, median monthly gross rent as a fraction of median household income was 21.49% in 2019 according to the ACS.

Okaloosa 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%
Okaloosa County FL 21.49% +0.41% +1.24%

Trends in Okaloosa County FL Rent as a Fraction of Income

The fraction of median Okaloosa County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 23.08%. Since then it has fallen by 1.59% to 21.49%.

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

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

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

Date US Florida Okaloosa County FL
2019 20.03% 25.08% 21.49%
2018 20.50% 25.57% 21.08%
2017 20.13% 25.74% 21.16%
2016 20.43% 25.62% 20.25%
2015 20.63% 25.40% 22.98%
2014 20.89% 25.36% 21.65%
2013 20.78% 25.34% 21.41%
2012 20.65% 25.42% 22.39%
2011 20.70% 25.71% 22.90%
2010 20.50% 25.59% 23.08%
2009 20.12% 25.54% 22.41%

more history ...

Renter Fraction in Okaloosa County Florida

You can calculate the renter fraction in Okaloosa 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 Okaloosa County as a fraction of total Okaloosa County households. In 2019 34.13% of households were renters according to Census ACS data.

Okaloosa 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%
Okaloosa County FL 34.13% -2.42% -1.81%

Trends in the Okaloosa County FL Renter Fraction

The Okaloosa County household renter fraction peaked in in 2015 at 40.22% and is now 6.09% below that level. The origin year for the series is 2005.

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

Fraction of renters in Okaloosa County

History of Okaloosa County Renter Fraction

Date US Florida Okaloosa County FL
2019 35.89% 33.75% 34.13%
2018 36.05% 34.08% 36.55%
2017 36.13% 34.85% 36.27%
2016 36.88% 35.87% 35.94%
2015 36.97% 36.22% 40.22%
2014 36.90% 35.95% 36.96%
2013 36.50% 35.21% 36.39%
2012 36.09% 34.36% 37.79%
2011 35.42% 33.28% 33.18%
2010 34.65% 31.85% 33.18%
2009 34.13% 31.52% 32.25%

more history ...

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.