Walton County Florida Residential Rent and Rental Statistics
The median monthly gross residential rent in Walton County FL was $1,217 in 2019 according to the Census ACS survey.1 Average gross rent in Walton County was $1,216 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 Walton County median and average rent data will be released in September of 2021.
Data is also available below for Walton County rental vacancy rates, Walton County rent as a percent of median income and the fraction of renters in Walton County.
Real Gross Rent in Walton 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% |
| Walton County FL Median Gross Rent | $1,217 | +36.13% | +20.26% |
Walton County FL Real Gross Rent Trends
At $1,217, real median gross rent in Walton County was at its highest level in 2019 since the series began in 2016. At $1,216, real average gross rent in Walton County was at its highest level in 2019 since the series began in 2016.
Real Gross Rent: Walton County FL Median, Walton County FL Average, Florida Median, US Median
Real Gross Rent History for Walton County
| Date | US Median |
Florida Median |
Walton County FL Median |
Walton County FL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,238 | $1,217 | $1,216 |
| 2018 | $1,077 | $1,203 | $894 | $905 |
| 2017 | $1,043 | $1,163 | $902 | $880 |
| 2016 | $1,027 | $1,137 | $1,012 | $930 |
| 2015 | $1,017 | $1,110 | — | — |
| 2014 | $986 | $1,059 | — | — |
| 2013 | $953 | $1,024 | — | — |
| 2012 | $940 | $1,015 | — | — |
| 2011 | $941 | $1,025 | — | — |
| 2010 | $955 | $1,058 | — | — |
| 2009 | $960 | $1,085 | — | — |
| 2007 | $927 | $1,087 | — | — |
| 2005 | $910 | $1,011 | — | — |
Walton 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 Walton County Florida was 53.44% according to Census ACS data.
Rental Vacancy Rate in Walton County Florida
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Florida | 8.72% | +0.20% | +0.42% |
| Walton County FL | 53.44% | — | — |
Trends in Walton County FL Rental Vacancy Rate
At 53.44%, Walton County residential rental vacancy rate in 2019 is at the highest point since 2016, the beginning of our reporting for this series.
Rental Vacancy Rate: Walton County FL, Florida, US
Historical Rental Vacancy Rate data for Walton County
| Date | US | Florida | Walton County FL |
|---|---|---|---|
| 2019 | 5.97% | 8.72% | 53.44% |
| 2018 | 6.15% | 8.52% | — |
| 2017 | 6.18% | 9.16% | 43.32% |
| 2016 | 5.89% | 8.30% | — |
| 2015 | 5.85% | 7.79% | — |
| 2014 | 6.32% | 8.66% | — |
| 2013 | 6.49% | 9.22% | — |
| 2012 | 6.77% | 9.37% | — |
| 2011 | 7.40% | 10.91% | — |
| 2010 | 8.17% | 12.17% | — |
| 2009 | 8.43% | 13.16% | — |
| 2007 | 7.87% | 11.55% | — |
| 2005 | 7.74% | 7.72% | — |
Rent as a Fraction of Income
Using median household income data for Walton County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Walton County, median monthly gross rent as a fraction of median household income was 24.16% in 2019 according to the ACS.
Walton 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% |
| Walton County FL | 24.16% | +7.41% | +3.55% |
Trends in Walton County FL Rent as a Fraction of Income
Walton County renters paid 24.16% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2016.
Fraction of Income towards Rent: Walton County FL, Florida, US
Historical Data for Annual Rent as a Fraction of Income in Walton County Florida
| Date | US | Florida | Walton County FL |
|---|---|---|---|
| 2019 | 20.03% | 25.08% | 24.16% |
| 2018 | 20.50% | 25.57% | 16.75% |
| 2017 | 20.13% | 25.74% | 20.34% |
| 2016 | 20.43% | 25.62% | 20.61% |
| 2015 | 20.63% | 25.40% | — |
| 2014 | 20.89% | 25.36% | — |
| 2013 | 20.78% | 25.34% | — |
| 2012 | 20.65% | 25.42% | — |
| 2011 | 20.70% | 25.71% | — |
| 2010 | 20.50% | 25.59% | — |
| 2009 | 20.12% | 25.54% | — |
| 2007 | 18.66% | 23.22% | — |
| 2005 | 18.89% | 22.88% | — |
Renter Fraction in Walton County Florida
You can calculate the renter fraction in Walton 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 Walton County as a fraction of total Walton County households. In 2019 21.76% of households were renters according to Census ACS data.
Walton 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% |
| Walton County FL | 21.76% | +1.68% | -9.02% |
Trends in the Walton County FL Renter Fraction
The Walton County household renter fraction peaked in in 2016 at 30.78% and is now 9.02% below that level. From a recent low of 20.08% in 2018, the household based renter fraction has now grown by 1.68%. The origin year for the series is 2016.
Fraction of Renting Households: Walton County FL, Florida, US
History of Walton County Renter Fraction
| Date | US | Florida | Walton County FL |
|---|---|---|---|
| 2019 | 35.89% | 33.75% | 21.76% |
| 2018 | 36.05% | 34.08% | 20.08% |
| 2017 | 36.13% | 34.85% | 28.62% |
| 2016 | 36.88% | 35.87% | 30.78% |
| 2015 | 36.97% | 36.22% | — |
| 2014 | 36.90% | 35.95% | — |
| 2013 | 36.50% | 35.21% | — |
| 2012 | 36.09% | 34.36% | — |
| 2011 | 35.42% | 33.28% | — |
| 2010 | 34.65% | 31.85% | — |
| 2009 | 34.13% | 31.52% | — |
| 2007 | 32.80% | 29.39% | — |
| 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. ↩
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