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Florida Vacancy Loss Calculator

Vacancy is one of the biggest drags on rental property returns. This calculator shows the true cost of empty units in Florida — pre-filled with Florida average rents ($1,900/mo) and vacancy rate (6.9%).

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Property Income(Florida defaults)

Vacancy Assumptions(Florida defaults)

Operating Expenses

Florida Market Context

Avg Cap Rate

5.5%

Median Price

$415K

Property Tax

0.8%

Vacancy Rate

6.9%

Local Factors

  • -No state income tax, no capital gains tax, no estate tax — rental income taxed at federal level only
  • -Homestead exemption ~$51K (owner-occupied only, does NOT apply to investment properties)
  • -Investment properties capped at 10% annual assessed value increase (vs 3% for homestead)
  • -Hurricane impact windows/shutters required in High-Velocity Hurricane Zones (Miami-Dade, Broward) — $8K–$25K installed, but can reduce insurance 15–45%
  • -Flood insurance required in FEMA Special Flood Hazard Areas (avg $878/yr, high-risk zones $2,200+)
  • -Landlord/dwelling insurance avg ~$3,815/yr — roughly 2x the national average
  • -Vacancy rates rising statewide (6.9%, up from 5.8%) — supply glut in some metros (Tampa 10.3%)
  • -No rent control statewide — landlords can set market rates

Sources

Tax Foundation — FL Effective Property Tax Rate 2025Insurify — FL Landlord Insurance 2025Florida Realtors — 2025 Year-End Housing DataFLA Landlord — FL Rental Market & Vacancy 2026Largo Capital — FL Cap Rates Q2 2025FEMA — Flood Insurance Risk Rating

Total Vacancy Cost

$7,793

$649/mo lost

Healthy
Gross Potential Income$91,200
Lost Rent (Vacancy)−$6,293
Turnover Costs−$1,500
Effective Gross Income$84,907
NOI (with vacancy)$41,407
NOI (0% vacancy)$49,200
Vacant Unit-Months/yr3.3
Vacancy Impact on NOI15.8%
Vacancy Cost$7,793
Net Income (after vacancy)$41,407
Vacancy Loss$6,293
Turnover Costs$1,500
Operating Expenses$42,000

What does this mean?

A 3–7% vacancy rate is the sweet spot for most rental markets. You're maintaining strong occupancy while likely pricing rents at market rate. Most lenders underwrite in this range.

Understanding Vacancy Loss

Vacancy loss is the income you don't collect when units sit empty between tenants. It's the gap between what a property could earn at full occupancy (Gross Potential Rent) and what it actually collects.

Vacancy Loss = Gross Potential Rent x Vacancy Rate

What vacancy rate should you use? Most lenders underwrite 5-8% for stabilized multifamily. Florida averages around 6.9%. Your actual rate depends on local market conditions, property condition, and management quality.

Keep running the numbers

One calculator rarely tells the whole story.

Vacancy eats into everything in Florida. See the full impact on your returns.

NOI

Calculate Net Operating Income — the foundation of commercial real estate valuation.

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Break-Even Occupancy

Find the minimum occupancy rate needed to cover all expenses.

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Rental Yield

Compare gross and net rental yields across properties.

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