Punta Gorda Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Punta Gorda, FL (the Punta Gorda metro area) was $1,006 in 2019 according to the Census ACS survey.1 Average gross rent in Punta Gorda 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 Punta Gorda median and average rent data will be released in September of 2021.
Data is also available below for Punta Gorda rental vacancy rates, Punta Gorda rent as a percent of median income and the fraction of renters in Punta Gorda.
Real Gross Rent in Punta Gorda 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% |
| Punta Gorda, FL Median Gross Rent | $1,006 | -5.89% | +0.80% |
Punta Gorda, FL Real Gross Rent Trends
Median gross rent for Punta Gorda 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 Punta Gorda peaked in real terms in 2018 at $1,157 and is now $126 (10.89%) lower.
Real Gross Rent in Punta Gorda: Punta Gorda FL Median, Punta Gorda FL Average, Florida Median, US Median
Real Gross Rent History for Punta Gorda
| Date | US Median |
Florida Median |
Punta Gorda, FL Median |
Punta Gorda, 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 |
Punta Gorda 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 Punta Gorda Florida was 18.39% according to Census ACS data.
Rental Vacancy Rate in Punta Gorda Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Punta Gorda, FL | 18.39% | +3.61% | +3.53% |
Trends in Punta Gorda, FL Rental Vacancy Rate
The rental vacancy rate in Punta Gorda 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: Punta Gorda FL, Florida, US
Historical Rental Vacancy Rate data for Punta Gorda
| Date | US | Florida | Punta Gorda, 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 Punta Gorda, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Punta Gorda, median monthly gross rent as a fraction of median household income was 22.09% in 2019 according to the ACS.
Punta Gorda 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% |
| Punta Gorda, FL | 22.09% | -1.72% | -3.78% |
Trends in Punta Gorda, FL Rent as a Fraction of Income
The fraction of median Punta Gorda 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: Punta Gorda FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Punta Gorda Florida
| Date | US | Florida | Punta Gorda, 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 Punta Gorda Florida
You can calculate the renter fraction in Punta Gorda 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 Punta Gorda as a fraction of total Punta Gorda households. In 2019 18.14% of households were renters according to Census ACS data.
Punta Gorda 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% |
| Punta Gorda, FL | 18.14% | +1.51% | -4.04% |
Trends in the Punta Gorda, FL Renter Fraction
The Punta Gorda 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: Punta Gorda FL, Florida, US
History of Punta Gorda Renter Fraction
| Date | US | Florida | Punta Gorda, 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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