Wellington, Florida Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Wellington, Florida rental market.
Wellington, Florida
Average Apartment Rent
$2,503
Y-o-Y Change in Average
Apartment Rent
-4.4%
As of November 2024
Compared to a year ago, Wellington, Florida apartments have recorded a -4.4% rent decrease.
Wellington, Florida Average apartment rent trend
Wellington, Florida Average Apartment Rent
Wellington, Florida Apartment rent ranges
At 96.85%, apartments priced Over $2,000 represent the bulk of Wellington, Florida rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 3.15%.
Wellington, Florida Housing tenure**
Renters take up 24% of Wellington, Florida real estate, occupying a total of 5,111 units, while homeowners live in 16,052 properties.
Median number of rooms of renter-occupied housing units**
4.9
Renter median household income**
$82,637
Average household size of renter-occupied housing units**
2.9
Rental vacancy rate**
9.4%
Wellington, Florida Renter-occupied housing units by no. of bedrooms**
There are 2,131 rentals in Wellington, Florida with 3 beds making up the highest share of the market, at 42%. Units with No bedrooms, on the other hand, hold the lowest percentage (3%), amounting to 159 units. Overall, the median number of rooms in Wellington, Florida homes for rent is 4.9.
Wellington, Florida Renter-occupied units by age of householder**
Most condos for rent in Wellington, Florida are occupied by residents in the 45 - 54 years age group (31%), followed by those in the 35 - 44 years age group (27%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Wellington, Florida Renter-occupied housing units by family type**
Wellington, Florida Renter-occupied housing units by the presence of own children**
A total of 3,540 apartments for rent in Wellington, Florida, or 69% of all rentals are family households. Additionally, 49% of rental homes include children under the age of 18 – that’s 2,502 units. All in all, the median size of a renter-occupied household in Wellington, Florida is 2.9.
Wellington, Florida Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 47% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Wellington, Florida.
Wellington, Florida Renter-occupied units by year structure built**
The highest share of Wellington, Florida apartment rentals, namely 26% or 1,314 units, were Built 1990 - 1999, followed by those Built 1980 - 1989 (25%, 1,303 units), and the ones Built 2010 - 2019 (20%, 1,027 units).
Wellington, Florida Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Wellington, Florida renters (40%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Wellington, Florida condos for rent is 2018.
Wellington, Florida Renter-occupied housing units by vehicles available**
When it comes to transportation options, 44% of Wellington, Florida renters have 1 vehicle available per household, 39% of them have 2 vehicles available, and 11% have 3 vehicles available.
Wellington, Florida Means of transportation to work of householders living in renter-occupied housing units**
Wellington, Florida Geographical mobility in the past year for householders living in renter-occupied housing units**
Wellington, Florida Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Wellington, Florida apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
