ZIP Code · FL

ZIP 32502

Part of Pensacola, FL

Pop. 4,231·Escambia County·340th most expensive ZIP in Florida

Median rent (all units)

$2,051/mo

Year-over-Year

+0.9%

Month-over-Month

-0.5%

vs US Median

+$119

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 32502 · $2,051

More expensive than 64% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,100

1 BR

$1,230

2 BR

$1,450

3 BR

$1,940

4 BR+

$2,380

Research median

$1,450/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 32502 is 2.5% below its high of $2,104 in October 2024, at $2,051 as of September 2026.

Past year vs. the rest of Florida

Rent in ZIP 32502 changed +0.9% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Recent direction

Rent has fallen 3 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($67,207) is $1,680 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,450); a 3-bedroom is $1,940.

Rank in Pensacola

10th cheapest of 10 ZIP codes in Pensacola.

Cheaper nearby

ZIP 32501, 1 mile away, rents for 25% less ($1,546/mo), about $6,100 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 32502. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$24,612/yr

At $2,051/mo median

Location

CityPensacola

StateFL

CountyEscambia County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.9% YoY, -0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 32502 (Pensacola, FL) is majority owner-occupied, 41.6% of residents hold a bachelor's degree or higher.

Population

4,231

Median income

$67,207

Median age

42.8

Renters

40%

Age distribution

15.1%

28%

21.2%

16%

19.8%

Under 1815.1%

18–3428%

35–5421.2%

55–6416%

65+19.8%

Gender

51.3%

48.7%

Male51.3%

Female48.7%

Race & ethnicity

54.3%

28.1%

White54.3%

Black28.1%

Hispanic7.1%

Asian0.9%

Other9.6%

Education (25+)

22.9%

28%

41.6%

No HS diploma7.5%

HS diploma22.9%

Some college28%

Bachelor's+41.6%

Housing tenure

60%

40%

Owner60%

Renter40%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 32502 in Pensacola, FL has changed in 5 years

Rent

$1,957 → $2,051

up 4.8%

Income

$60,113 → $67,207

up 11.8%

Population

3,799 → 4,231

up 11.4%

Renter share

48.3% → 40%

-8.3 pts

Bachelor's+

36.2% → 41.6%

+5.4 pts

Median age

39 → 42.8

+3.8 yrs

Since 2023, the typical rent in ZIP 32502 in Pensacola, FL has increased from $1,957 to $2,051, a 4.8% change over five years. Household income in the area moved from $60,113 to $67,207 across the same window, up 11.8% versus 2021. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 11.4% since 2021, moving from about 3,799 residents to roughly 4,231. Renters now make up 40% of households, compared with 48.3% five years ago. College-educated residents now make up 41.6% of adults here, versus 36.2% in 2021. Reading these numbers side by side helps frame whether current listings in ZIP 32502 in Pensacola, FL look reasonable against where the market sat half a decade ago.

Community

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About renting in ZIP 32502

Last updated: October 17, 2026

ZIP code 32502 covers Pensacola, FL. The median rent here is $2,051/mo as of October 2026. A 1-bedroom rents for a median of $1,230/mo. A 2-bedroom rents for a median of $1,450/mo.

At 37% of local median household income ($67,207/yr), ZIP 32502 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 32502?

To keep rent at or below 30% of gross income, you would need to earn at least $82,000/year (about $39/hour full-time) to afford the median rent of $2,051/mo in ZIP 32502. The local median household income is $67,207/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 32502?

Rent in ZIP 32502 has risen 0.9% over the past year as of September 2026. It sits 2.5% below its high of $2,104 in October 2024.

How does ZIP 32502 compare to other ZIPs in Florida?

ZIP 32502 is in the middle among Florida ZIP codes for rent, ranking #340 of 656 at $2,051/mo. Over the year to September 2026, rent in ZIP 32502 changed +0.9%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.