ZIP Code · FL

ZIP 32514

Part of Pensacola, FL

Pop. 42,447·Escambia County·618th most expensive ZIP in Florida

Median rent (all units)

$1,497/mo

Year-over-Year

+2.4%

Month-over-Month

+0.3%

vs US Median

-$435

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 32514 · $1,497

More affordable than 73% 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

$1,250

1 BR

$1,420

2 BR

$1,660

3 BR

$2,200

4 BR+

$2,680

Research median

$1,660/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 32514 is 0.2% below its high of $1,500 in May 2026, at $1,497 as of September 2026.

Past year vs. the rest of Florida

Rent in ZIP 32514 changed +2.4% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 32514 rose 47.6% while median household income rose 33.6% ($49,889 to $66,644). Rent outpaced income.

Since before the pandemic

Rent in ZIP 32514 is 45.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($66,644) is $1,666 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,660); a 3-bedroom is $2,200.

Rank in Pensacola

2nd cheapest of 10 ZIP codes in Pensacola.

From Zillow's monthly rent index (ZORI) for ZIP 32514. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$17,964/yr

At $1,497/mo median

Location

CityPensacola

StateFL

CountyEscambia County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.4% YoY, +0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 32514 (Pensacola, FL) is roughly split between renters and owners, 32.2% of residents hold a bachelor's degree or higher.

Population

42,447

Median income

$66,644

Median age

35.8

Renters

47.2%

Age distribution

20.2%

28.1%

20.6%

19.3%

Under 1820.2%

18–3428.1%

35–5420.6%

55–6411.8%

65+19.3%

Gender

46.5%

53.5%

Male46.5%

Female53.5%

Race & ethnicity

65.5%

21.6%

White65.5%

Black21.6%

Hispanic6.1%

Asian1.6%

Other5.2%

Education (25+)

26.2%

33.1%

32.2%

No HS diploma8.4%

HS diploma26.2%

Some college33.1%

Bachelor's+32.2%

Housing tenure

52.8%

47.2%

Owner52.8%

Renter47.2%

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

2021 vs 2026

How ZIP 32514 in Pensacola, FL has changed in 5 years

Rent

$1,146 → $1,497

up 30.6%

Income

$57,018 → $66,644

up 16.9%

Population

42,059 → 42,447

up 0.9%

Renter share

52.7% → 47.2%

-5.5 pts

Bachelor's+

32.5% → 32.2%

-0.3 pts

Median age

33.7 → 35.8

+2.1 yrs

Across the past five years, the going rent in ZIP 32514 in Pensacola, FL has shifted from $1,146 to $1,497, up 30.6% since 2021. On the earnings side, the typical household in ZIP 32514 in Pensacola, FL now reports about $66,644, up from $57,018 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has eased from 52.7% to 47.2%, with owner-occupied housing accounting for the remainder. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 32514 in Pensacola, FL reflects that arc in its own way.

Community

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About renting in ZIP 32514

Last updated: October 17, 2026

ZIP code 32514 covers Pensacola, FL. The median rent here is $1,497/mo as of October 2026. A 1-bedroom rents for a median of $1,420/mo. A 2-bedroom rents for a median of $1,660/mo.

At 27% of local median household income ($66,644/yr), ZIP 32514 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 32514?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (about $29/hour full-time) to afford the median rent of $1,497/mo in ZIP 32514. The local median household income is $66,644/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 32514?

Rent in ZIP 32514 has risen 2.4% over the past year as of September 2026. It sits 0.2% below its high of $1,500 in May 2026.

Has rent outpaced income in ZIP 32514?

Yes. From 2019 to 2024, rent in ZIP 32514 rose 47.6% while median household income rose 33.6%, from $49,889 to $66,644. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 32514 compare to other ZIPs in Florida?

ZIP 32514 is one of the more affordable among Florida ZIP codes for rent, ranking #618 of 656 at $1,497/mo. Over the year to September 2026, rent in ZIP 32514 changed +2.4%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.