Department of Numbers

Punta Gorda Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Punta Gorda, FL (the Punta Gorda metro area) was $953 in 2016 according to the Census ACS survey.1 Average gross rent in Punta Gorda was $947 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Punta Gorda median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Punta Gorda Florida (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Florida Median Gross Rent $1,086 +2.45% +11.04%
Punta Gorda, FL Median Gross Rent $953 +0.95% +6.72%

Punta Gorda, FL Real Gross Rent Trends

Median gross rent for Punta Gorda peaked in real terms in 2006 at $1,102 and is now $149 (13.52%) lower. From a recent low of 853.0 in 2012, real median gross rent has now increased by $100 (11.72%). Average gross rent for Punta Gorda peaked in real terms in 2007 at $1,093 and is now $146 (13.36%) lower. From a recent low of 856.0 in 2014, real average gross rent has now increased by $91 (10.63%).

Real Gross Rent in Punta Gorda: Punta Gorda FL Median, Punta Gorda FL Average, Florida Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Punta Gorda

Date US
Median
Florida
Median
Punta Gorda, FL
Median
Punta Gorda, FL
Average
2016 $981 $1,086 $953 $947
2015 $972 $1,060 $944 $945
2014 $942 $1,011 $856 $856
2013 $910 $978 $893 $955
2012 $898 $969 $853 $905
2011 $898 $979 $917 $905
2010 $912 $1,011 $994 $1,013
2009 $916 $1,036 $943 $1,021
2008 $932 $1,071 $1,054 $973
2007 $885 $1,038 $1,057 $1,093
2006 $895 $1,023 $1,102 $1,074
2005 $869 $966 $949 $1,065

Punta Gorda Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Punta Gorda Florida was 14.86% according to Census ACS data.

Rental Vacancy Rate in Punta Gorda Florida

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Florida 8.30% +0.51% -0.92%
Punta Gorda, FL 14.86% +4.09% +6.52%

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 10.14% to 14.86%. Data records for this series originated in 2005. From a 2010 post peak low of 8.34%, the rental vacancy rate has increased by 6.52%.

Rental Vacancy Rate: Punta Gorda FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Punta Gorda

Date US Florida Punta Gorda, FL
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%
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 25.87% in 2016 according to the ACS.

Punta Gorda Florida Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Florida 25.62% +0.23% +0.29%
Punta Gorda, FL 25.87% +1.29% +1.49%

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 0.71% to 25.87%. From a 2012 low of 22.28%, the fraction of income going to rent has increased by 3.60%.

Fraction of Income towards Rent: Punta Gorda FL, Florida, US

Percent of median household income going towards median monthly gross rent in Punta Gorda Florida

Historical Data for Annual Rent as a Fraction of Income in Punta Gorda Florida

Date US Florida Punta Gorda, FL
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%
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 2016 22.18% of households were renters according to Census ACS data.

Punta Gorda Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Florida 35.87% -0.35% +0.66%
Punta Gorda, FL 22.18% -1.96% +0.80%

Trends in the Punta Gorda, FL Renter Fraction

The Punta Gorda household renter fraction peaked in in 2015 at 24.14% and is now 1.96% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Punta Gorda FL, Florida, US

Fraction of renters in Punta Gorda

History of Punta Gorda Renter Fraction

Date US Florida Punta Gorda, FL
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%
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.