Rents are 12% below what Pensacola's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,640 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Pensacola usually run 0.7% below trend in February and 0.7% above it in September, about $23 a month apart at today's median. Based on 11 years of data.
Rent in Pensacola is at its highest level since Zillow's records here began in January 2015.
Rent in Pensacola changed +3.0% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in Pensacola rose 50.4% while median household income rose 47% ($50,493 to $74,212). Rent outpaced income.
Rent in Pensacola is 51% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 7 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($74,212) is $1,855 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,571); a 3-bedroom is $2,101.
The priciest of 10 ZIP codes in Pensacola, 32502 ($2,051/mo), costs 40% more than the cheapest, 32504 ($1,469/mo).
From Zillow's monthly rent index (ZORI) for Pensacola. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Pensacola, FL is majority owner-occupied, has a large retiree population, 43% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Pensacola, FL has changed in 5 years
Five years ago, renters in Pensacola, FL paid around $1,270 a month. That figure now sits near $1,640, up 29.1% from the 2021 baseline. Local incomes tracked alongside that move, going from a median of $59,119 in 2021 to $74,212 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has eased from 38.6% to 35.8%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 40.1% to 43% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Pensacola, FL market of 2021.
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Can you afford rent in Pensacola on your salary?
At $1,640/mo, how Pensacola rent compares to typical pay (30% rule).
Pensacola rent by bedroom count
Median rent for each apartment size in Pensacola. Click any size for full breakdown.
Tips for renters in Pensacola
Last updated: October 17, 2026
The median rent in Pensacola is $1,640/mo as of October 2026. A studio apartment averages $1,193/mo while a 2-bedroom runs $1,571/mo. One-bedroom apartments average $1,331/mo and 3-bedroom units go for $2,101/mo.
At 27% of local median household income ($74,212/yr), Pensacola ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.0% over the past year.
Frequently asked questions
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How does Pensacola rent compare to other cities in Florida?
At $1,640/mo, rent takes ~27% of Pensacola's median household income ($74,212/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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