Sarasota County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Sarasota County FL was $1,354 in 2019 according to the Census ACS survey.1 Average gross rent in Sarasota County was $1,370 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 Sarasota County median and average rent data will be released in September of 2021.
Data is also available below for Sarasota County rental vacancy rates, Sarasota County rent as a percent of median income and the fraction of renters in Sarasota County.
Real Gross Rent in Sarasota 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% |
| Sarasota County FL Median Gross Rent | $1,354 | -2.17% | +9.37% |
Sarasota County FL Real Gross Rent Trends
Median gross rent for Sarasota County peaked in real terms in 2018 at $1,384 and is now $30 (2.17%) lower. Average gross rent for Sarasota County peaked in real terms in 2018 at $1,385 and is now $15 (1.08%) lower.
Real Gross Rent: Sarasota County FL Median, Sarasota County FL Average, Florida Median, US Median
Real Gross Rent History for Sarasota County
| Date | US Median |
Florida Median |
Sarasota County FL Median |
Sarasota County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,354 | $1,370 |
| 2018 | $1,077 | $1,203 | $1,384 | $1,385 |
| 2017 | $1,043 | $1,163 | $1,243 | $1,260 |
| 2016 | $1,027 | $1,137 | $1,238 | $1,292 |
| 2015 | $1,017 | $1,110 | $1,155 | $1,235 |
| 2014 | $986 | $1,059 | $1,090 | $1,148 |
| 2013 | $953 | $1,024 | $1,012 | $1,079 |
| 2012 | $940 | $1,015 | $1,034 | $1,054 |
| 2011 | $941 | $1,025 | $1,048 | $1,127 |
| 2010 | $955 | $1,058 | $1,075 | $1,075 |
| 2009 | $960 | $1,085 | $1,127 | $1,261 |
| 2007 | $927 | $1,087 | $1,158 | $1,242 |
| 2005 | $910 | $1,011 | $1,093 | $1,170 |
Sarasota 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 Sarasota County Florida was 14.04% according to Census ACS data.
Rental Vacancy Rate in Sarasota County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Sarasota County FL | 14.04% | +3.76% | +3.26% |
Trends in Sarasota County FL Rental Vacancy Rate
The rental vacancy rate in Sarasota County peaked in 2017 at 15.17%. Since then it has fallen by 1.13% to 14.04%. Data records for this series originated in 2005.
Rental Vacancy Rate: Sarasota County FL, Florida, US
Historical Rental Vacancy Rate data for Sarasota County
| Date | US | Florida | Sarasota County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 14.04% |
| 2018 | 6.15% | 8.52% | 10.28% |
| 2017 | 6.18% | 9.16% | 15.17% |
| 2016 | 5.89% | 8.30% | 10.78% |
| 2015 | 5.85% | 7.79% | 7.96% |
| 2014 | 6.32% | 8.66% | 8.27% |
| 2013 | 6.49% | 9.22% | 8.82% |
| 2012 | 6.77% | 9.37% | 6.53% |
| 2011 | 7.40% | 10.91% | 10.98% |
| 2010 | 8.17% | 12.17% | 12.17% |
| 2009 | 8.43% | 13.16% | 10.64% |
| 2007 | 7.87% | 11.55% | 10.59% |
| 2005 | 7.74% | 7.72% | 5.30% |
Rent as a Fraction of Income
Using median household income data for Sarasota County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Sarasota County, median monthly gross rent as a fraction of median household income was 24.49% in 2019 according to the ACS.
Sarasota 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% |
| Sarasota County FL | 24.49% | -1.95% | -1.30% |
Trends in Sarasota County FL Rent as a Fraction of Income
The fraction of median Sarasota County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 26.44%. Since then it has fallen by 1.95% to 24.49%.
Fraction of Income towards Rent: Sarasota County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Sarasota County Florida
| Date | US | Florida | Sarasota County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 24.49% |
| 2018 | 20.50% | 25.57% | 26.44% |
| 2017 | 20.13% | 25.74% | 24.78% |
| 2016 | 20.43% | 25.62% | 25.79% |
| 2015 | 20.63% | 25.40% | 23.22% |
| 2014 | 20.89% | 25.36% | 23.77% |
| 2013 | 20.78% | 25.34% | 23.89% |
| 2012 | 20.65% | 25.42% | 24.28% |
| 2011 | 20.70% | 25.71% | 24.67% |
| 2010 | 20.50% | 25.59% | 25.29% |
| 2009 | 20.12% | 25.54% | 26.17% |
| 2007 | 18.66% | 23.22% | 23.79% |
| 2005 | 18.89% | 22.88% | 23.57% |
Renter Fraction in Sarasota County Florida
You can calculate the renter fraction in Sarasota 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 Sarasota County as a fraction of total Sarasota County households. In 2019 23.70% of households were renters according to Census ACS data.
Sarasota 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% |
| Sarasota County FL | 23.70% | -1.48% | +0.06% |
Trends in the Sarasota County FL Renter Fraction
The Sarasota County household renter fraction peaked in in 2014 at 29.43% and is now 5.73% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Sarasota County FL, Florida, US
History of Sarasota County Renter Fraction
| Date | US | Florida | Sarasota County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 23.70% |
| 2018 | 36.05% | 34.08% | 25.18% |
| 2017 | 36.13% | 34.85% | 25.34% |
| 2016 | 36.88% | 35.87% | 23.64% |
| 2015 | 36.97% | 36.22% | 28.20% |
| 2014 | 36.90% | 35.95% | 29.43% |
| 2013 | 36.50% | 35.21% | 26.34% |
| 2012 | 36.09% | 34.36% | 26.03% |
| 2011 | 35.42% | 33.28% | 26.81% |
| 2010 | 34.65% | 31.85% | 24.67% |
| 2009 | 34.13% | 31.52% | 24.06% |
| 2007 | 32.80% | 29.39% | 22.69% |
| 2005 | 33.10% | 30.43% | 23.67% |
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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