ZIP Code · FL

ZIP 34240

Part of Sarasota, FL

Pop. 18,774·Sarasota County·232nd most expensive ZIP in Florida

Median rent (all units)

$2,274/mo

Year-over-Year

+1.2%

Month-over-Month

+0.8%

vs US Median

+$342

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 34240 · $2,274

More expensive 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

$1,990

1 BR

$2,370

2 BR

$2,750

3 BR

$3,560

4 BR+

$4,250

Research median

$2,750/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 34240 is 12.6% below its high of $2,602 in March 2023, at $2,274 as of September 2026.

Past year vs. the rest of Florida

Rent in ZIP 34240 changed +1.2% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Recent direction

Rent has risen 5 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($130,148) is $3,254 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,750); a 3-bedroom is $3,560.

Rank in Sarasota

9th cheapest of 11 ZIP codes in Sarasota.

Cheaper nearby

ZIP 34232, 10 miles away, rents for 10% less ($2,038/mo), about $2,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 34240. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$27,288/yr

At $2,274/mo median

Location

CitySarasota

StateFL

CountySarasota County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.2% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 34240 (Sarasota, FL) is majority owner-occupied, has a large retiree population, has a median income above the national average, 49.4% of residents hold a bachelor's degree or higher.

Population

18,774

Median income

$130,148

Median age

49.7

Renters

18.2%

Age distribution

20.5%

15.6%

21.1%

16.1%

26.6%

Under 1820.5%

18–3415.6%

35–5421.1%

55–6416.1%

65+26.6%

Gender

48.3%

51.7%

Male48.3%

Female51.7%

Race & ethnicity

86.9%

White86.9%

Black0.7%

Hispanic8.1%

Asian1.5%

Other2.8%

Education (25+)

20.9%

27.8%

49.4%

No HS diploma1.9%

HS diploma20.9%

Some college27.8%

Bachelor's+49.4%

Housing tenure

81.8%

18.2%

Owner81.8%

Renter18.2%

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

2022 vs 2026

How ZIP 34240 in Sarasota, FL has changed in 5 years

Rent

$2,526 → $2,274

down 10.0%

Income

$110,143 → $130,148

up 18.2%

Population

12,713 → 18,774

up 47.7%

Renter share

8.4% → 18.2%

+9.8 pts

Bachelor's+

46.5% → 49.4%

+2.9 pts

Median age

53 → 49.7

-3.3 yrs

Rent in ZIP 34240 in Sarasota, FL has declined 10.0% since 2022, going from about $2,526 per month to roughly $2,274 today. Household income in the area moved from $110,143 to $130,148 across the same window, up 18.2% versus 2021. Income growth outran rent by about 28.2 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 12,713 to 18,774 between 2021 and 2024, a 47.7% change. About 18.2% of households rent today, against 8.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 46.5% to 49.4%. Reading these numbers side by side helps frame whether current listings in ZIP 34240 in Sarasota, FL look reasonable against where the market sat half a decade ago.

Community

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About renting in ZIP 34240

Last updated: October 17, 2026

ZIP code 34240 covers Sarasota, FL. The median rent here is $2,274/mo as of October 2026. A 1-bedroom rents for a median of $2,370/mo. A 2-bedroom rents for a median of $2,750/mo.

At 21% of local median household income ($130,148/yr), ZIP 34240 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 34240?

To keep rent at or below 30% of gross income, you would need to earn at least $91,000/year (about $44/hour full-time) to afford the median rent of $2,274/mo in ZIP 34240. The local median household income is $130,148/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 34240?

Rent in ZIP 34240 has risen 1.2% over the past year as of September 2026. It sits 12.6% below its high of $2,602 in March 2023.

How does ZIP 34240 compare to other ZIPs in Florida?

ZIP 34240 is in the middle among Florida ZIP codes for rent, ranking #232 of 656 at $2,274/mo. Over the year to September 2026, rent in ZIP 34240 changed +1.2%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.