Pensacola Rental Market Shortage
We are into peak rental season with below average inventory in the Pensacola rental market. The Pensacola rental market picks up drastically in February and March and peaks in July and August. The market slows drastically over winter with the slowest month of the year being December.
Rental rates have been increasing since 2011 and have increased on average $120 per month over the last four years from $960 per month to an average rental rate of $1,080 per month.
- The average list price for a 3 bedroom 2 bath in the Pensacola metro area is $1,144.
- 3% are over $1,000 a month (179) and 47% of those under $1,000 per month (158) .
- The least expensive 3 bedroom 2 bath home is $750 and the most expensive is $2,295.
- There are 338 rental properties on Pensacola MLS. This is just at one month's inventory for a typical March.
- 221 properties are located in Escambia County (Pensacola, Cantonment, Perdido Key, and Pensacola Beach) and 106 in Santa Rosa County (Pace, Milton, Gulf Breeze, and Navarre)
- Of these, 237 are single family homes, 19 are condos, 68 are town homes or duplexes/apartments, and 8 are mobile/manufactured homes.
Last week, areas of Northeast Pensacola and Milton were affected by tornadoes in the Pensacola area. The week before, a tornado devastated the town of Century in Northern Escambia County, Florida. The Pensacola News Journal reported over 170 houses with "major damage." A lot of these renters and homeowners have been misplaced. This puts further stress on the Pensacola real estate market, especially the rental market as these misplaced homeowners seek a rental property. Supply and demand always affects pricing and of cousre, home prices typically peak in the summer months as competition is more intense.
It will be hard summer to nail down your "perfect dream home" whether you are looking to rent or purchase! Make sure to sign up for new rental alerts and enlist the help of a real estate agent if you hope to purchase a home.
Nicole St. Aubin, Broker Associate
- Unapproved Dog List
- Drain Field Lines for Septic Tanks
- Pensacola Rental Inventory
- Home Buying
- Tourism Pensacola Beach
- Real Estate Market
- Pensacola Rental Homes
- Beulah Middle School Construction
- Safety Tips
- Things to Do
- Realty Masters Team
- Item Donations
- Pensacola Rental homes
- Maintenance Tips
- Landlords access to property
- Bed Bugs
- Moving out
- Community Involvement
- Managing Rental Properties
- rental market
- Unapproved Dog List due to Aggressive Breed Status
- Taking care of your Septic Tank and Drainfield Lines
- Pensacola Rental Inventory is back!
- Home Buying 101: A Seminar by Realty Masters, Caliber Home Loans & Surety Land Title
- One Minute Maintenance: A/C Tips from Mathews Heating and Air
- Nicole St. Aubin
- Realty Masters of FL
- David Keen
- Chuntell Patterson