Department of Numbers

Sebastian Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Sebastian, FL (the Sebastian-Vero Beach metro area) was $912 in 2016 according to the Census ACS survey.1 Average gross rent in Sebastian was $1,040 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 Sebastian median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Sebastian 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%
Sebastian, FL Median Gross Rent $912 -1.19% +5.68%

Sebastian, FL Real Gross Rent Trends

Median gross rent for Sebastian peaked in real terms in 2008 at $1,033 and is now $121 (11.71%) lower. From a recent low of 783.0 in 2012, real median gross rent has now increased by $129 (16.48%). Average gross rent for Sebastian peaked in real terms in 2007 at $1,095 and is now $55 (5.02%) lower. From a recent low of 834.0 in 2012, real average gross rent has now increased by $206 (24.70%).

Real Gross Rent in Sebastian: Sebastian FL Median, Sebastian FL Average, Florida Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Sebastian

Date US
Median
Florida
Median
Sebastian, FL
Median
Sebastian, FL
Average
2016 $981 $1,086 $912 $1,040
2015 $972 $1,060 $923 $955
2014 $942 $1,011 $932 $979
2013 $910 $978 $863 $903
2012 $898 $969 $783 $834
2011 $898 $979 $795 $911
2010 $912 $1,011 $936 $1,037
2009 $916 $1,036 $947 $943
2008 $932 $1,071 $1,033 $974
2007 $885 $1,038 $1,013 $1,095
2006 $895 $1,023 $1,023 $1,079
2005 $869 $966

Sebastian 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 Sebastian Florida was 32.37% according to Census ACS data.

Rental Vacancy Rate in Sebastian Florida

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Florida 8.30% +0.51% -0.92%
Sebastian, FL 32.37% +7.47% +18.30%

Trends in Sebastian, FL Rental Vacancy Rate

At 32.37%, Sebastian residential rental vacancy rate in 2016 is at the highest point since 2006, the beginning of our reporting for this series.

Rental Vacancy Rate: Sebastian FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Sebastian

Date US Florida Sebastian, FL
2016 5.89% 8.30% 32.37%
2015 5.85% 7.79% 24.90%
2014 6.32% 8.66% 15.91%
2013 6.49% 9.22% 14.07%
2012 6.77% 9.37% 10.76%
2011 7.40% 10.91% 16.95%
2010 8.17% 12.17% 20.89%
2009 8.43% 13.16% 15.48%
2008 7.86% 12.67% 21.36%
2007 7.87% 11.55% 21.60%
2006 7.70% 8.32% 11.68%
2005 7.74% 7.72%

Rent as a Fraction of Income

Using median household income data for Sebastian, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Sebastian, median monthly gross rent as a fraction of median household income was 22.30% in 2016 according to the ACS.

Sebastian 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%
Sebastian, FL 22.30% +0.16% -1.98%

Trends in Sebastian, FL Rent as a Fraction of Income

The fraction of median Sebastian household income required to pay median monthly gross rent peaked in 2009 (relative to the 2006 series origin) at 24.44%. Since then it has fallen by 2.14% to 22.30%. From a 2015 low of 22.14%, the fraction of income going to rent has increased by 0.16%.

Fraction of Income towards Rent: Sebastian FL, Florida, US

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

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

Date US Florida Sebastian, FL
2016 20.43% 25.62% 22.30%
2015 20.63% 25.40% 22.14%
2014 20.89% 25.36% 23.98%
2013 20.78% 25.34% 24.28%
2012 20.65% 25.42% 22.89%
2011 20.70% 25.71% 23.27%
2010 20.50% 25.59% 22.23%
2009 20.12% 25.54% 24.44%
2008 19.00% 23.79% 23.61%
2007 18.66% 23.22% 23.52%
2006 18.90% 23.00% 23.95%
2005 18.89% 22.88%

Renter Fraction in Sebastian Florida

You can calculate the renter fraction in Sebastian 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 Sebastian as a fraction of total Sebastian households. In 2016 22.17% of households were renters according to Census ACS data.

Sebastian 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%
Sebastian, FL 22.17% -0.79% -6.07%

Trends in the Sebastian, FL Renter Fraction

The Sebastian household renter fraction peaked in in 2013 at 28.24% and is now 6.07% below that level. The origin year for the series is 2006.

Fraction of Renting Households: Sebastian FL, Florida, US

Fraction of renters in Sebastian

History of Sebastian Renter Fraction

Date US Florida Sebastian, FL
2016 36.88% 35.87% 22.17%
2015 36.97% 36.22% 22.96%
2014 36.90% 35.95% 26.92%
2013 36.50% 35.21% 28.24%
2012 36.09% 34.36% 25.39%
2011 35.42% 33.28% 23.83%
2010 34.65% 31.85% 24.72%
2009 34.13% 31.52% 26.30%
2008 33.36% 30.33% 25.53%
2007 32.80% 29.39% 24.23%
2006 32.73% 29.72% 25.71%
2005 33.10% 30.43%

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.