Rental Vacancy Rate (2025): National Trends & Rates by City

Last Updated: October 8, 2025 by Cu Fleshman

Here’s an in-depth analysis of the rental vacancy rate in the U.S. In this report, we’ll cover rental property vacancy rate statistics nationwide, by state, and city-to-city. We’ll also cover:

Key Points at a Glance

The national rental vacancy rate was 7.0% as of the 2nd quarter (Q2) of 2025, up 6.06% year-over-year (YoY).

The suburban rental vacancy rate is 6.7%.
Rental vacancy in principal cities is 7.6%, increasing 10.15% YoY.
31.3% of vacant homes are available for rent.
The median monthly rental price for vacancies was $1,494 in the second quarter of 2025.

*Seasonal rentals (including vacation rentals and Airbnbs) are not included in this report.

National Map: State Rental Vacancy Rates 2024 data source: U.S. Census Bureau

Jump to a state: AL | AK | AZ | AR | CA | CO | CT | DE | DC | FL | GA | HI | ID | IL | IN | IA | KS | KY | LA | ME | MD | MA | MI | MN | MS | MO | MT | NE | NV | NH | NJ | NM | NY | NC | ND | OH | OK | OR | PA | RI | SC | SD | TN | TX | UT | VT | VA | WA | WV | WI | WY

Quick Notes on the National Rental Vacancy Rate

For most of the past decade, the national rental vacancy rate has steadily declined. Our market research indicates the following:

Outside of metropolitan statistical areas, rural vacancy is 5.8%, down 6.45% YoY.
Units constructed after March 2010 are the most likely to be empty, with a vacancy rate of 15.9%.
The national rental vacancy rate declined 33.7% since 2009, when vacancy hit an all-time high (10.6%).
Among year-round housing vacancies (excluding seasonal vacancies), 27.5% are available for rent.
6.9% of vacant housing units (excluding seasonal vacancies) are second homes.
7.97% of year-round vacancies have been rented or sold, despite remaining empty.
The U.S. multifamily vacancy rate was 8.4% in 2025 Q1.

Guide to Calculating Vacancy Rates

The Annual Outlook: Rental Vacancy Rate Over the Years

While we wait for 2025’s numbers, let’s evaluate previous year-long rental vacancy outlooks:

In 2024, the average rental vacancy rate nationwide was 6.8%.
The national vacancy rate increased 4.62% from 2023 to 2024.
Rental vacancy in cities hit 7.1% in 2024, the highest annual vacancy rate since 2017 (7.3%).
The average nationwide rental vacancy rate in 2023 was 6.5%.
From 2022 to 2023, the rental vacancy rate increased by 12.1% nationwide.
The lowest rental vacancy rate of 2023 was 6.3% in the 2nd financial quarter.
The annual U.S. rental vacancy rate hit a 38-year low in 2022 (5.8%).

National map: 2023-2024 Change in Rental Vacancy Rates according to the U.S. Census Bureau

U.S. Rental Vacancy by Region

The South has the highest rental vacancy rate among U.S. regions.

Rental vacancy in the South was 9.0% in 2025 Q2, up 7.1% YoY.
The southern rental vacancy rate declined 10.5% between 2014 and 2024.
In the Midwest, rental vacancy was 6.6% in 2025 Q2, up 20% YoY.
Midwestern rental vacancy rates declined 16.25% between 2014 and 2024.
In the West, rental vacancy was 5.7% in 2025 Q2, up 3.64% YoY.
Western rental vacancy rates declined 1.79% between 2014 and 2024.
Rental vacancy in the Northeast was 5.2% in 2025 Q2, down 8.77% YoY.
Northeastern rental vacancy rates declined 18.3% between 2014 and 2024.

National map: 2020-2024 Change in Rental Vacancy Rates according to the U.S. Census Bureau

Rental Vacancy in Every U.S. State

Rental vacancy statistics indicate a dramatic increase in renters on the coasts.

Among states, Kentucky had the highest rate of new vacancies in 2024, up 97.1% YoY.
Washington had the second-highest YoY increase at 42.9%.
Kansas and Rhode Island had the greatest YoY rate of decline at 34.9% and 29.7%, respectively.
South Carolina and Alabama had the highest rate of vacant units at 10.6% and 10.1%, respectively.
Rhode Island had the lowest vacancy rate at 2.6%, down 61.8% YoY.

We’ll take a closer look at each state, but first, here’s a quick rundown of rental vacancy rates from Alabama to Wyoming — plus a note on how things have changed from the previous year.

State Rental Vacancy Rates
State	2024 Rental Vacancy	Change from 2023 Rental Vacancy
Alabama	10.1%	8.60%
Alaska	4.9%	0.00%
Arizona	8.8%	14.3%
Arkansas	9.8%	-11.7%
California	4.8%	9.09%
Colorado	4.5%	-11.8%
Connecticut	2.9%	-23.7%
Delaware	3.8%	5.56%
District of Columbia	6.8%	-8.11%
Florida	10.0%	17.6%
Georgia	8.3%	0.00%
Hawaii	7.4%	-16.9%
Idaho.	5.1%	-1.92%
Illinois	6.5%	-13.3%
Indiana	9.9%	-5.71%
Iowa	8.0%	-2.44%
Kansas	5.4%	-34.9%
Kentucky	6.9%	97.1%
Louisiana	9.4%	11.9%
Maine	2.9%	0.00%
Maryland	5.7%	-21.9%
Massachusetts	3.2%	28.0%
Michigan	6.8%	-6.85%
Minnesota	5.4%	-21.7%
Mississippi	7.6%	-11.6%
Missouri	8.7%	17.6%
Montana	4.2%	-6.67%
Nebraska	5.4%	10.2%
Nevada	8.1%	15.7%
New Hampshire	4.0%	-14.9%
New Jersey	3.6%	16.1%
New Mexico	6.6%	13.8%
New York	5.5%	17.0%
North Carolina	6.4%	-15.8%
North Dakota	7.8%	-8.24%
Ohio	5.8%	5.45%
Oklahoma	7.9%	-7.06%
Oregon	6.7%	11.7%
Pennsylvania	6.9%	13.1%
Rhode Island	2.6%	-29.7%
South Carolina	10.6%	2.91%
South Dakota	7.6%	16.9%
Tennessee	8.2%	5.13%
Texas	9.2%	0.00%
Utah	4.8%	-9.43%
Vermont	3.7%	5.71%
Virginia	5.6%	14.3%
Washington	6.0%	42.9%
West Virginia	9.8%	38.0%
Wisconsin	4.1%	-19.6%
Wyoming	5.5%	25.0%

Alabama’s Rental Vacancy Rate

The Yellowhammer State’s rental vacancy rate was 10.1% in 2024 (48.5% over the national average).

Alabama rental vacancy increased by 8.60% from 2023 to 2024.
The state’s rental vacancy rate was 9.3% in 2023, up 14.8% from 2022.
Following a 14.0% decline from 2020 to 2021, Alabama’s vacancy rate declined 30.8% from 2021 to 2022.
From 2010 to 2020, Alabama’s rental vacancy rate increased 12.4%.
27.4% of Alabama households didn’t own their home in 2024.
Alabama’s homeowner vacancy was 1.2%, up 33.3% YoY.
Birmingham-Hoover’s rental vacancy rate was 15.1% in 2024, up 23.8% YoY.

Alaska’s Rental Vacancy Rate

The Last Frontier State’s rental vacancy rate was 4.9% in 2024 (27.9% under the national average).

Alaska rental vacancy remained unchanged from 2023 to 2024.
The state’s rental vacancy rate was 4.9% in 2023, down 7.55% from 2022.
Following a 40% decline in 2020, Alaska’s rental vacancy increased 26.2% in 2021.
From 2010 to 2020, Alaska’s rental vacancy rate increased by 25.0%.
33.8% of Alaska households didn’t own their home in 2024.
Homeowner vacancy was 0.9%, up 28.6% YoY in Alaska.
Anchorage had a 4.6% rental vacancy rate in 2024.

Arizona’s Rental Vacancy Rate

The Grand Canyon State’s rental vacancy rate was 8.8% in 2024 (20.4% over the national average).

Arizona rental vacancy increased by 14.3% from 2023 to 2024.
The state’s rental vacancy rate was 7.7% in 2023, up 24.2% from 2022.
After a 12.7% decline from 2020 to 2021, Arizona’s rental vacancy increased 29.2% between 2021 and 2022.
From 2010 to 2020, Arizona’s rental vacancy rate declined by 63.1%.
30.9% of Arizona households didn’t own their home in 2024.
Arizona’s homeowner vacancy was 0.9%, remaining steady from 2023.
Phoenix-Mesa had a vacancy rate of 7.9% in 2024, down 1.25% YoY.
Tucson had a rental vacancy rate of 7.2%, down 29.4% YoY.

Arkansas’ Rental Vacancy Rate

The Natural State’s rental vacancy rate was 9.8% in 2024 (44.1% over the national average).

Arkansas rental vacancy declined 11.7% from 2023 to 2024.
In 2023, Arkansas’ rental vacancy rate was 11.1%, up 5.71% from 2022.
Rental vacancy rates in Arkansas increased by 77.3% in 2022, following a 5.63% rise in 2021.
From 2015 to 2020, Arkansas’ rental vacancy rate declined 23.5%.
Between 2005 and 2015, the number of rental vacancies declined by 21.7%.
33.4% of Arkansas households didn’t own their home in 2024.
Homeowner vacancy in Arkansas was 1.1%, down 8.33% from 2023.
Little Rock-North Little Rock-Conway had a rental vacancy rate of 11.7% in 2024, up 8.33% YoY.

California’s Rental Vacancy Rate

The Golden State’s rental vacancy rate was 4.8% in 2024 (29.4% under the national average).

The California rental vacancy rate increased by 9.09% from 2023 to 2024.
In 2023, California’s rental vacancy rate was 4.4%, up 12.8% from 2022.
Rental vacancy in California increased 2.86% in 2022 after a 28.6% decline in 2021.
From 2015 to 2020, California’s rental vacancy rate declined 20.9%.
Between 2005 and 2015, the rental vacancy in California declined by 24.6%.
44.7% of California households didn’t own their home in 2024.
Homeowner vacancy in California is 0.8%, up 14.3% from the previous year.
Los Angeles-Long Beach-Anaheim had a rental vacancy rate of 4.8% in 2024, up 20.0% from 2023.
Riverside-San Bernardino-Ontario had a rental vacancy rate of 3.7%, with no change YoY.
San Diego-Carlsbad’s vacancy rate was 5.2%, up 26.8% YoY.
San Francisco-Oakland had a rental vacancy rate of 6.3%, down 4.55% YoY.
San Jose-Sunnyvale had a rental vacancy rate of 3.3%, unchanged from the previous year.

Colorado’s Rental Vacancy Rate

The Centennial State’s rental vacancy rate was 4.5% in 2024 (33.8% under the national average).

Colorado rental vacancy declined 11.8% from 2023 to 2024.
In 2023, Colorado’s rental vacancy rate was 5.1%, representing a 24.4% increase from the previous year.
Rental vacancy rates in Colorado declined by 25.0% in 2022, following an 18.2% increase in 2021.
From 2015 to 2020, Colorado’s rental vacancy rate increased 2.27%.
Between 2005 and 2015, the rental vacancy in Colorado declined by 71.2%.
34.3% of Colorado households didn’t own their home in 2024.
Homeowner vacancy in Colorado was 0.7% in 2024, down 22.2% from 2023.
Denver-Aurora-Lakewood had an average rental vacancy rate of 4.7% in 2024, down 11.1% from 2023.

Connecticut’s Rental Vacancy Rate

The Constitution State’s rental vacancy rate was 2.9% in 2024 (57.4% under the national average).

Connecticut rental vacancy declined 23.7% from 2023 to 2024.
In 2023, Connecticut’s rental vacancy rate was 3.8%, up 15.2% from 2022.
Rental vacancy rates in Connecticut declined by 6.38% in 2022, following a 4.44% increase in 2021.
From 2015 to 2020, Connecticut’s rental vacancy rate increased by 1.79%.
Between 2005 and 2015, the rental vacancy in Connecticut declined by 39.1%.
31.2% of Connecticut households didn’t own their home in 2024.
Homeowner vacancy in Connecticut was 0.3%, down 57.1% YoY.
Hartford had an average rental vacancy rate of 3.1%, down 36.7% YoY.
New Haven-Milford has a rental vacancy rate of 3.1%, down 6.06% YoY.
Bridgeport-Stamford-Norwalk has 2.4% rental vacancy, down 20.0% YoY.

Delaware’s Rental Vacancy Rate

The First State’s rental vacancy rate was 3.8% in 2024 (44.1% under the national average).

The Delaware rental vacancy rate increased by 5.56% from 2023 to 2024.
In 2023, Delaware’s rental vacancy rate was 3.6%, up 2.86% from 2022.
Rental vacancy rates in Delaware declined by 14.5% in 2022, following a 7.84% increase in 2021.
From 2015 to 2020, Delaware’s rental vacancy rate increased by 46.9%.
Between 2005 and 2015, the rental vacancy rate in Delaware declined by 46.7%.
24.9% of Delaware households didn’t own their home in 2024.
Homeowner vacancy in Delaware was 0.5%, up 25.0% from the previous year.
Dover had a multifamily rental vacancy rate of 4.7% in 2024 Q3, up 56.7% YoY.

District of Columbia’s Rental Vacancy Rate

The nation’s capital had a vacancy rate of 6.8% in 2024 (equal to the national average).

D.C. rental vacancy declined 8.11% from 2023 to 2024.
In 2023, D.C.’s rental vacancy rate was 7.4%, down 6.33% from 2022.
Rental vacancy rates in D.C. declined 5.26% in 2022, following a 23.2% decline in 2021.
From 2015 to 2020, D.C.’s rental vacancy rate increased 45.1%.
Between 2005 and 2015, the rental vacancy rate in D.C. declined by 44.6%.
59.9% of D.C. households didn’t own their home in 2024.
Homeowner vacancy in D.C. is 1.2%, up 9.09% YoY.

Florida’s Rental Vacancy Rate

The Sunshine State’s rental vacancy rate was 10.0% in 2024 (47.1% over the national average).

Florida’s rental vacancies increased 17.6% from 2023 to 2024.
In 2023, Florida’s rental vacancy rate was 8.5%, up 18.1% from 2022.
Rental vacancy rates in Florida increased by 25.9% in 2022, following a 21.7% decline in 2021.
From 2015 to 2020, the number of vacant rentals decreased by 3.6%.
Between 2005 and 2015, the rental vacancy rate in Florida declined by 23.6%.
31.6% of Florida households didn’t own their home in 2024.
Homeowner vacancy in Florida was 1.7%, a 70.0% increase YoY.
Jacksonville’s rental vacancy rate was 8.8%, down 6.38% YoY.
Miami-Fort Lauderdale-West Palm Beach had a rental vacancy rate of 9.5%, up 13.1% YoY.
Tampa-St. Petersburg-Clearwater metropolitan area rental vacancy rate was 6.8%, down 20.0% YoY.
Cape Coral-Fort Myers had 10.1% rental vacancy, down 34.0% YoY.
North Port-Bradenton-Sarasota had 10.1% rental vacancy, up 87.0% YoY.
Orlando-Kissimmee-Sanford had 9.4% rental vacancy, up 34.3% YoY.

Georgia’s Rental Vacancy Rate

The Peach State’s rental vacancy rate was 8.3% in 2024 (22.1% over the national average).

Georgia’s rental vacancy rate remained the same between 2023 and 2024.
In 2023, the rental vacancy rate was up 18.6% from 2022.
Rental vacancy rates in Georgia increased by 5.00% in 2022, following a 23.1% decline in 2021.
From 2015 to 2020, Georgia’s rental vacancy rate declined 12.3%.
Between 2005 and 2015, the number of rental vacancies in Georgia declined by 41.9%.
In 2024, 35.5% of Georgia households didn’t own their homes.
Homeowner vacancy in Georgia was 0.9%, down 18.2% from the previous year.
Atlanta-Sandy Springs-Roswell had a rental vacancy rate of 9.3%, up 6.90% YoY.

Hawaii’s Rental Vacancy Rate

The Aloha State’s rental vacancy rate was 7.4% in 2024 (8.82% over the national average).

Hawaii rental vacancy declined 16.9% from 2023 to 2024.
In 2023, Hawaii’s rental vacancy rate was 8.9%, representing a 29.0% increase from 2022.
Rental vacancy rates in Hawaii declined by 13.3% in 2022, following a 16.9% increase in 2021.
From 2015 to 2020, Hawaii’s rental vacancy rate declined 18.4%.
Between 2005 and 2015, rental vacancy in Hawaii increased by 107.1%.
39.7% of Hawaii households didn’t own their home in 2024.
Homeowner vacancy in Hawaii was 1.0%, up 42.9% YoY.
Urban Honolulu had a rental vacancy rate of 9.1%, up 33.8% YoY.

Idaho’s Rental Vacancy Rate

The Gem State’s rental vacancy rate was 5.1% in 2024 (25.0% under the national average).

Idaho rental vacancy declined 1.92% from 2023 to 2024.
In 2023, Idaho’s rental vacancy rate was 5.2%, up 30.0% from 2022.
Rental vacancy rates in Idaho declined by 6.25% in 2022, following a 14.3% increase in 2021.
From 2015 to 2020, Idaho’s rental vacancy rate declined 32.2%.
Between 2005 and 2015, the rental vacancy rate in Idaho declined by 36.6%.
28.4% of Idaho households didn’t own their home in 2024.
Homeowner vacancy in Idaho was 0.8%, up 14.3% from the previous year.
Multifamily homes in Boise had a 2.82% rental vacancy rate in 2024 Q3, down 64.6% YoY.

Illinois’ Rental Vacancy Rate

The Prairie State’s rental vacancy rate was 6.5% in 2024 (4.41% below the national average).

Illinois rental vacancy declined 13.3% from 2023 to 2024.
In 2023, Illinois’ rental vacancy rate was 7.5%, up 1.35 percentage points from 2022.
Rental vacancy rates in Illinois declined 3.75% in 2022, following a 5.88% decline in 2021.
From 2015 to 2020, Illinois’ rental vacancy rate declined 6.25%.
Between 2005 and 2015, the rental vacancy rate in Illinois declined by 37.5%.
31.5% of Illinois households didn’t own their home in 2024.
Homeowner vacancy in Illinois was 0.8%, up 33.3% from the previous year.
Chicago-Naperville-Elgin has a 5.1% rental vacancy rate, down 8.93% YoY.

Indiana’s Rental Vacancy Rate

The Hoosier State’s rental vacancy was 9.9% in 2024 (45.6% over the national average).

Indiana rental vacancy declined 5.71% from 2023 to 2024.
In 2023, Indiana’s rental vacancy rate was 10.5%, up 19.3% from 2022.
Rental vacancy rates in Indiana declined 8.25% in 2022, following a 37.4% decline in 2021.
From 2015 to 2020, Indiana’s rental vacancy rate declined 18.2%.
Between 2005 and 2015, the number of rental vacancies in Indiana declined by 24.1%.
28.7% of Indiana households didn’t own their home in 2024.
Homeowner vacancy in Indiana was 1.0%, up 25.0% YoY.
Indianapolis-Carmel-Anderson has a 9.2% rental vacancy rate, up 4.55% YoY.

National map: 2010-2020 Change in Rental Vacancy Rates according to the U.S. Census Bureau

Iowa’s Rental Vacancy Rate

The Hawkeye State’s rental vacancy rate was 8.0% in 2024 (17.6% over the national average).

Iowa rental vacancy declined 2.44% from 2023 to 2024.
In 2023, Iowa’s rental vacancy rate was 8.2%, up 7.89% from 2022.
Rental vacancy rates in Iowa declined 10.7% in 2022, following a 11.8% decline in 2021.
From 2015 to 2020, Iowa’s rental vacancy rate increased 13.2%.
Between 2005 and 2015, the rental vacancy rate in Iowa declined by 44.1%.
28.2% of Iowa households didn’t own their home in 2024.
Homeowner vacancy in Iowa was 0.9%, up 12.5% YoY.
Des Moines-West Des Moines had a multifamily rental vacancy rate of 8.7% in 2024 Q3, up 6.10% YoY.

Kansas’ Rental Vacancy Rate

The Sunflower State’s rental vacancy rate was 5.4% in 2024 (20.6% under the national average).

Kansas rental vacancy declined 34.9% from 2023 to 2024.
In 2023, Kansas’ rental vacancy rate was 8.3%, a decrease of 2.35% from 2022.
Rental vacancy rates in Kansas increased by 19.0% in 2022, following a 46.6% decline in 2021.
Between 2005 and 2015, the rental vacancy in Kansas declined 19.9%.
In 2024, 32.3% of Kansas households didn’t own their home.
Homeowner vacancy in Kansas was 0.9%, down 18.2% YoY.
Topeka had a 7.9% multifamily rental vacancy rate in 2024 Q3, down 7.06% YoY.

Kentucky’s Rental Vacancy Rate

The Bluegrass State’s rental vacancy rate was 6.9% in 2024 (1.47% over the national average).

Kentucky rental vacancy increased 97.1% from 2023 to 2024.
In 2023, Kentucky’s rental vacancy rate was 3.5%, a decrease of 22.2% from 2022.
Rental vacancy rates in Kentucky declined by 48.3% in 2022, following a 9.09% increase in 2021.
From 2015 to 2020, Kentucky’s rental vacancy rate increased 1.27%.
Between 2005 and 2015, the number of rental vacancies in Kentucky declined by 20.2%.
30.5% of Kentucky households didn’t own their home in 2024.
Homeowner vacancy in Kentucky was 1.2%, up 140% from the previous year.
Louisville-Jefferson County had a 7.1% rental vacancy rate, up 97.2% YoY.

Louisiana’s Rental Vacancy Rate

The Pelican State’s rental vacancy rate was 9.4% in 2024 (38.2% over the national average).

The Louisiana rental vacancy rate increased by 11.9% from 2023 to 2024.
In 2023, Louisiana’s rental vacancy rate was 8.4%, representing a 21.7% increase from 2022.
Rental vacancy rates in Louisiana remained stable in 2022, following a 15.9% increase in 2021.
From 2015 to 2020, Louisiana’s rental vacancy rate increased 6.82%.
Between 2005 and 2015, the rental vacancy rate in Louisiana increased by 1.15%.
31.7% of Louisiana households didn’t own their home in 2024.
Homeowner vacancy in Louisiana was 1.6%, up 6.67% from the previous year.
New Orleans-Metairie had a 9.1% rental vacancy rate, up 10.6% YoY.
Baton Rouge had 7.3% rental vacancy, up 10.6% YoY.

Maine’s Rental Vacancy Rate

The Pine Tree State’s rental vacancy rate was 2.9% in 2024 (57.4% under the national average).

Maine rental vacancy remained stable between 2023 and 2024 at 2.9%.
In 2023, Maine’s rental vacancy rate was down 27.5% from 2022.
Rental vacancy rates in Maine declined by 50.0% in 2022, following a 28.9% increase in 2021.
From 2015 to 2020, Maine’s rental vacancy rate declined 53.7%.
Between 2005 and 2015, the rental vacancy rate in Maine declined by 22.9%.
26.2% of Maine households didn’t own their home in 2024.
Homeowner vacancy in Maine was 1.1%, up 57.1% from the previous year.
Portland-South Portland had a 4.3% multifamily rental vacancy rate in 2024 Q3, down 23.2% YoY.

Maryland’s Rental Vacancy Rate

The Old Line State’s rental vacancy rate was 5.7% in 2024 (16.2% below the national average).

Maryland rental vacancy declined 21.9% from 2023 to 2024.
In 2023, Maryland’s rental vacancy rate was 7.3%, up 37.7% from 2022.
Rental vacancy rates in Maryland increased by 32.6% in 2022, following a 12.2% decline in 2021.
From 2015 to 2020, Maryland’s rental vacancy rate declined 32.9%.
Between 2005 and 2015, the rental vacancy rate in Maryland declined by 9.72%.
31.5% of Maryland households didn’t own their home in 2024.
Homeowner vacancy in Maryland was 0.6%, up 20.0% YoY.
Baltimore-Columbia-Towson had a 6.1% rental vacancy rate, down 35.1% YoY.

Massachusetts’ Rental Vacancy Rate

The Bay State’s rental vacancy rate was 3.2% in 2024 (52.9% below the national average).

The Massachusetts rental vacancy rate increased by 28.0% from 2023 to 2024.
In 2023, Massachusetts’ rental vacancy rate was 2.5%, a decrease of 10.7% from 2022.
Rental vacancy rates in Massachusetts declined 17.6% in 2022, following a 33.3% decrease in 2021.
From 2015 to 2020, vacancies increased by 19.2%.
Between 2005 and 2015, the rental vacancy rate in Massachusetts declined by 3.70%.
37.1% of Massachusetts households didn’t own their home in 2024.
Homeowner vacancy in Massachusetts was 0.5%, up 25.0% from the previous year.
Boston-Cambridge-Newton had a rental vacancy rate of 3.0%, up 20.0% YoY.
Worcester had a 0.00% rental vacancy rate, down from 1.9% in 2023.

Michigan’s Rental Vacancy Rate

The Great Lakes State’s rental vacancy rate was 6.8% in 2024 (equal to the national average).

Michigan rental vacancy declined 6.85% from 2023 to 2024.
In 2023, Michigan’s rental vacancy rate was 7.3%, representing a 32.7% increase from 2022.
Rental vacancy rates in Michigan increased by 40.9% in 2022, following a 18.5% decline in 2021.
From 2015 to 2020, Michigan’s rental vacancy rate decreased by 15.7%.
Between 2005 and 2015, the number of rental vacancies in Michigan declined by 30.8%.
26.7% of Michigan households didn’t own their home in 2024.
Homeowner vacancy in Michigan was 0.9%, up 28.6% YoY.
Detroit-Warren-Dearborn had 8.7% rental vacancy, down 6.45% YoY.
Grand Rapids-Wyoming had 3.8% rental vacancy, up 18.75% YoY.

Minnesota’s Rental Vacancy Rate

The North Star State’s rental vacancy rate was 5.4% in 2024 (20.6% under the national average).

Minnesota rental vacancy declined 21.7% from 2023 to 2024.
In 2023, Minnesota’s rental vacancy rate was 6.9%, down 5.48% from 2022.
Minnesota’s vacancy rate fell 1.96% in 2022, while 2021 began and ended with a 5.1% rental vacancy rate.
From 2015 to 2020, Minnesota’s rental vacancy rate decreased by 1.72%.
Between 2005 and 2015, the number of rental vacancies in Minnesota declined by 47.3%.
29.0% of Minnesota households didn’t own their home in 2024.
Homeowner vacancy in Minnesota was 0.4%, down 33.3% from 2023.
Minneapolis-St. Paul-Bloomington had a vacancy rate of 5.2%, down 35.8% YoY.

Mississippi’s Rental Vacancy Rate

The Magnolia State’s rental vacancy rate was 7.6% in 2024 (11.8% over the national average).

Mississippi rental vacancy declined 11.6% from 2023 to 2024.
In 2023, Mississippi’s rental vacancy rate was 8.6%, up 2.38% from 2022.
Rental vacancy rates in Mississippi declined by 8.41% in 2022, following a 46.6% increase in 2021.
From 2015 to 2020, Mississippi’s rental vacancy rate increased 22.1%.
Between 2005 and 2015, the number of rental vacancies in Mississippi declined by 21.8%.
24.2% of Mississippi households didn’t own their home in 2024.
Homeowner vacancy in Mississippi was 0.5%, down 37.5% YoY.
Jackson had a 12.2% multifamily rental vacancy rate in 2024 Q3, down 6.87% YoY.

Missouri’s Rental Vacancy Rate

The Show-Me State’s rental vacancy rate was 8.7% in 2024 (27.9% over the national average).

Missouri rental vacancy increased 17.6% from 2023 to 2024.
In 2023, Missouri’s rental vacancy rate was 7.4%, up 4.23% from 2022.
Rental vacancy rates in Missouri increased by 5.00% in 2022, following an 8.11% growth in 2021.
From 2015 to 2020, Missouri’s rental vacancy rate decreased by 32.6%.
Between 2005 and 2015, the number of rental vacancies in Missouri declined by 28.6%.
29.5% of Missouri households didn’t own their home in 2024.
Homeowner vacancy in Missouri was 1.0%, up 25.0% from the previous year.
Kansas City’s rental vacancy rate was 8.9%, up 17.1% YoY.
The St. Louis rental vacancy rate was 7.9%, up 1.28% YoY.

Montana’s Rental Vacancy Rate

The Treasure State’s rental vacancy rate was 4.2% in 2024 (38.2% under the national average).

Montana rental vacancy declined 6.67% from 2023 to 2024.
In 2023, Montana’s rental vacancy rate was 4.5%, representing a 40.6% increase from 2022.
Rental vacancy in Montana declined 19.5% after a 20.6% increase in 2021.
Between 2015 and 2020, Montana’s rental vacancy rate increased by 20.6%.
Between 2005 and 2015, the number of rental vacancies in Montana declined by 60.7%.
28.1% of Montana households didn’t own their home in 2024.
Homeowner vacancy in Montana was 0.8%, with a 0.00% change YoY.

Nebraska’s Rental Vacancy Rate

The Cornhusker State’s rental vacancy rate was 5.4% in 2024 (20.6% below the national average).

The Nebraska rental vacancy rate increased by 10.2% from 2023 to 2024.
In 2023, Nebraska’s rental vacancy rate was 4.9%, down 5.77% from 2022.
Rental vacancy rates in Nebraska declined 10.9% in 2022, following a 25.8% decline in 2021.
From 2015 to 2020, Nebraska’s rental vacancy rate increased 6.67%.
Between 2005 and 2015, the rental vacancy rate in Nebraska declined by 47.4%.
30.5% of Nebraska households didn’t own their home in 2024.
Homeowner vacancy in Nebraska was 0.8%, up 33.3% YoY.
Omaha had a rental vacancy rate of 5.3%, up 23.3% YoY.

Nevada’s Rental Vacancy Rate

The Silver State’s rental vacancy rate was 8.1% in 2024 (19.1% over the national average).

The Nevada rental vacancy rate increased by 15.7% from 2023 to 2024.
In 2023, Nevada’s rental vacancy rate was 7.0%, up 16.7% from 2022.
Rental vacancy rates in Nevada declined 12.5% in 2022, following a 113.3% growth in 2021.
From 2015 to 2020, Nevada’s rental vacancy rate decreased 2.56%.
Between 2005 and 2015, the number of rental vacancies in Nevada declined by 24.3%.
38.5% of Nevada households didn’t own their home in 2024.
Homeowner vacancy in Nevada was 0.8%, down 20.0% YoY.
Las Vegas-Henderson-Paradise had a rental vacancy rate of 8.3%, up 15.3% YoY.

New Hampshire’s Rental Vacancy Rate

The Granite State’s rental vacancy rate was 4.0% in 2024 (41.2% below the national average).

The rental vacancy rate in New Hampshire declined by 14.9% from 2023 to 2024.
In 2023, New Hampshire’s rental vacancy rate was 4.7%, up 9.30% from 2022.
Rental vacancy in New Hampshire declined 6.98% after a 126.3% increase in 2021.
From 2015 to 2020, rental vacancies declined by 50.8%.
Between 2005 and 2015, rental vacancy in New Hampshire increased by 43.2%.
27.1% of New Hampshire households didn’t own their home in 2024.
Homeowner vacancy in New Hampshire was 0.5%, up 66.7% YoY.
Manchester-Nashua’s multifamily rental vacancy rate was 4.7% in 2024 Q3, up 56.7% YoY.

National map: 2024 Homeowner Vacancy Rates according to the U.S. Census Bureau

New Jersey’s Rental Vacancy Rate

The Garden State’s rental vacancy rate was 3.6% in 2024 (47.1% under the national average).

New Jersey’s rental vacancy rate increased 16.1% from 2023 to 2024.
In 2023, New Jersey’s rental vacancy rate was 3.1%, down 16.2% from 2022.
Rental vacancy in New Jersey increased 68.0% in 2022 after a 32.4% decline in 2021.
From 2015 to 2020, New Jersey’s rental vacancy rate decreased by 40.8%.
Between 2005 and 2015, the rental vacancy rate in New Jersey declined by 19.7%.
37.1% of New Jersey households didn’t own their home in 2024.
Homeowner vacancy in New Jersey was 0.5%, down 16.7% YoY.
Trenton-Princeton has a multifamily rental vacancy rate of 3.9% in 2024 Q3, up 30.0% YoY.

New Mexico’s Rental Vacancy Rate

The Land of Enchantment’s rental vacancy rate was 6.6% in 2024 (2.94% under the national average).

New Mexico’s rental vacancy rate increased 13.8% from 2023 to 2024.
In 2023, New Mexico’s rental vacancy rate was 5.8%, down 3.33% from 2022.
Rental vacancy rates in New Mexico remained stable in 2022, following a 57.1% growth in 2021.
From 2015 to 2020, rental vacancies declined by 35.7%.
Between 2005 and 2015, the rental vacancy rate in New Mexico increased by 14.3%.
29.5% of New Mexico households didn’t own their home in 2024.
Homeowner vacancy in New Mexico was 1.0%, up 42.9% from the previous year.
Albuquerque had a vacancy rate of 4.7%, with a 0.00% change YoY.

New York’s Rental Vacancy Rate

The Empire State’s rental vacancy rate was 5.5% in 2024 (19.1% under the national average).

New York’s rental vacancy increased 17.0% from 2023 to 2024.
In 2023, New York’s rental vacancy rate was 4.7%, up 9.30% from 2022.
Rental vacancy rates in New York declined 22.2% in 2022, following a 30.8% decline in 2021.
From 2015 to 2020, rental vacancies increased by 13.0%.
Between 2005 and 2015, the average rental vacancy declined 23.3%.
47.3% of New York households didn’t own their home in 2024.
Homeowner vacancy in New York was 1.0%, with no change from 2023 to 2024.
New York-Newark-Jersey City had a rental vacancy rate of 4.7% in 2024, up 20.5% YoY.
Albany-Schenectady-Troy had a rental vacancy rate of 4.5%, up 9.76% YoY.
Buffalo-Cheektowaga-Niagara Falls had a rental vacancy rate of 10.8%, up 11.34% YoY.
Rochester had 4.9% rental vacancy, up 145% YoY.
Syracuse had 4.0% rental vacancy, down 37.5% YoY.

North Carolina’s Rental Vacancy Rate

The Tar Heel State’s rental vacancy rate was 6.4% in 2024 (5.88% below the national average).

North Carolina rental vacancy declined 15.8% from 2023 to 2024.
In 2023, North Carolina’s rental vacancy rate was 7.6%, up 20.6% from 2022.
Rental vacancy rates in North Carolina declined 15.9% in 2022, following an 8.7% decline in 2021.
From 2015 to 2020, North Carolina’s rental vacancy rate declined by 34.3%.
Between 2005 and 2015, the rental vacancy in North Carolina declined 27.1%.
35.5% of North Carolina households didn’t own their home in 2024.
Homeowner vacancy in North Carolina was 0.8%, up 60.0% YoY.
Charlotte-Concord-Gastonia had a rental vacancy rate of 6.7%, up 1.52% YoY.
Raleigh had a rental vacancy rate of 8.8%, unchanged from 2023 to 2024.
Greensboro-High Point had 5.5% rental vacancy, down 3.51% YoY.

North Dakota’s Rental Vacancy Rate

The Peace Garden State’s rental vacancy rate was 7.8% in 2024 (14.7% above the national average).

North Dakota rental vacancy declined 8.24% from 2023 to 2024.
In 2023, North Dakota’s rental vacancy rate was 8.5%, a decrease of 30.3% from 2022.
Rental vacancy rates in North Dakota declined 7.81% in 2022, following a 5.88% decline in 2021.
From 2015 to 2020, North Dakota’s rental vacancy rate increased 31.2%.
Between 2005 and 2015, the rental vacancy rate in North Dakota declined by 1.06%.
35.7% of North Dakota households didn’t own their home in 2024.
Homeowner vacancy in North Dakota was 1.5%, up 114% YoY.
Fargo had a multifamily rental vacancy rate of 3.1% in 2024 Q3, down 26.2%.

Ohio’s Rental Vacancy Rate

The Buckeye State’s rental vacancy rate was 5.8% in 2024 (14.7% below the national average).

Ohio’s rental vacancy increased 5.45% from 2023 to 2024.
In 2023, Ohio’s rental vacancy rate was 5.5%, up 3.77% from 2022.
Rental vacancy rates in Ohio increased by 24.0% in 2022, following a 27.5% decline in 2021.
Between 2015 and 2020, Ohio’s rental vacancy rate increased by 16.9%.
Between 2005 and 2015, the number of rental vacancies in Ohio declined by 45.8%.
30.4% of Ohio households didn’t own their home in 2024.
Homeowner vacancy in Ohio was 0.6%, with a 0.00% change from the previous year.
Akron had a 0.4% rental vacancy rate, down 18.4% YoY.
Cincinnati had a rental vacancy rate of 6.1%, down 15.3% YoY.
Cleveland-Elyria had 5.8% rental vacancy, up 23.4% YoY.
Columbus had a rental vacancy rate of 7.3%, up 25.9% YoY.
Dayton had a rental vacancy rate of 5.0%, down 5.66% YoY.

Oklahoma’s Rental Vacancy Rate

The Sooner State’s rental vacancy rate was 7.9% in 2024 (16.2% over the national average).

Oklahoma rental vacancy declined 7.06% from 2023 to 2024.
In 2023, Oklahoma’s rental vacancy rate was 8.5%, a decrease of 1.16% from 2022.
Rental vacancy rates declined by 2.11% in 2022, following a 48.4% increase in 2021.
From 2015 to 2020, Oklahoma’s rental vacancy rate increased 21.3%.
Between 2005 and 2015, the rental vacancy in Oklahoma declined by 37.0%.
33.2% of Oklahoma households didn’t own their home in 2024.
Homeowner vacancy in Oklahoma was 1.1%, down 15.4% YoY.
Oklahoma City’s rental vacancy rate was 9.0%, down 15.1% YoY.
Tulsa’s rental vacancy rate was 6.2%, down 7.46% YoY.

Oregon’s Rental Vacancy Rate

The Beaver State’s rental vacancy rate was 6.7% in 2024 (1.47% under the national average).

The Oregon rental vacancy rate increased by 11.7% from 2023 to 2024.
In 2023, Oregon’s rental vacancy rate was 6.0%, up 46.3% from 2022.
Rental vacancy rates in Oregon increased by 15.2% in 2022, following a 32.7% decline in 2021.
In 2015 and 2020, Oregon had a rental vacancy rate of 4.5%.
Between 2005 and 2015, the rental vacancy in Oregon declined 37.5%.
37.0% of Oregon households didn’t own their home in 2024.
Homeowner vacancy in Oregon was 0.7%, down 12.5% YoY.
Portland-Vancouver-Hillsboro had a rental vacancy rate of 5.7%, down 16.2% YoY.

Pennsylvania’s Rental Vacancy Rate

The Keystone State’s rental vacancy rate was 6.9% in 2024 (1.47% over the national average).

The Pennsylvania rental vacancy rate increased by 13.1% from 2023 to 2024.
In 2023, Pennsylvania’s rental vacancy rate was 6.1%, up 15.1% from 2022.
Rental vacancy rates in Pennsylvania declined 16.7% in 2022, following a 10.4% decrease in 2021.
From 2015 to 2020, Pennsylvania’s rental vacancy rate decreased by 1.22%.
Between 2005 and 2015, the number of rental vacancies in Pennsylvania declined by 28.1%.
29.2% of Pennsylvania households didn’t own their home in 2024.
Homeowner vacancy in Pennsylvania was 0.8%, up 14.3% YoY.
Philadelphia-Wilmington-Camden had an average rental vacancy rate of 6.3%, up 21.2% YoY.
Pittsburgh’s vacancy rate was 8.9%, up 41.3% YoY.
Allentown-Bethlehem had 5.9% rental vacancy, down 25.3% YoY.

Rhode Island’s Rental Vacancy Rate

The Plantation State’s rental vacancy rate was 2.6% in 2024 (61.8% under the national average).

Rhode Island rental vacancy declined 29.7% from 2023 to 2024.
In 2023, Rhode Island’s rental vacancy rate was 3.7%, down 19.6% from 2022.
Rental vacancy in Rhode Island declined 2.50% in 2022 after a 25.0% growth in 2021.
From 2015 to 2020, Rhode Island’s rental vacancy rate declined 28.3%.
Between 2005 and 2015, the rental vacancy rate in Rhode Island declined by 43.9%.
37.9% of Rhode Island households didn’t own their home in 2024.
Homeowner vacancy in Rhode Island was 0.4%, up 33.3% YoY.
Providence-Warwick had a 3.2% rental vacancy rate, down 13.5% YoY.

South Carolina’s Rental Vacancy Rate

The Palmetto State’s rental vacancy rate was 10.6% in 2024 (55.9% over the national average).

The South Carolina rental vacancy rate increased by 2.91% from 2023 to 2024.
In 2023, South Carolina’s rental vacancy rate was 10.3%, up 32.1% from 2022.
Rental vacancy rates in South Carolina declined by 2.60% in 2022, following a 35.3% decline in 2021.
From 2015 to 2020, South Carolina’s rental vacancy rate increased 1.74%.
Between 2005 and 2015, rental vacancy in South Carolina increased by 12.7%.
28.6% of South Carolina households didn’t own their home in 2024.
Homeowner vacancy in South Carolina was 1.1%, up 83.3% YoY.
Charleston-North Charleston-Summerville had a rental vacancy rate of 12.8%, up 6.67% YoY.
Columbia had 6.8% rental vacancy, down 20.0% YoY.

South Dakota’s Rental Vacancy Rate

The Mount Rushmore State’s rental vacancy rate was 7.6% in 2024 (11.8% over the national average).

The South Dakota rental vacancy rate increased by 16.9% from 2023 to 2024.
In 2023, South Dakota’s rental vacancy rate was 6.5%, up 10.2% from 2022.
Rental vacancy rates in South Dakota increased by 9.27% in 2022, following a 28.7% decline in 2021.
From 2015 to 2020, South Dakota’s rental vacancy rate increased 35.4%.
Between 2005 and 2015, the number of rental vacancies in South Dakota declined by 34.3%.
30.7% of South Dakota households didn’t own their home in 2024.
Homeowner vacancy in South Dakota was 1.0%, up 11.1% YoY.
The multifamily rental vacancy rate in Sioux Falls was 13.1% in 2024 Q3, up 12.9% YoY.

Tennessee’s Rental Vacancy Rate

The Volunteer State’s rental vacancy rate was 8.2% in 2024 (20.6% over the national average).

The Tennessee rental vacancy rate increased by 5.13% from 2023 to 2024.
In 2023, Tennessee’s rental vacancy rate was 7.8%, up 6.85% from the previous year.
Rental vacancy rates in Tennessee declined by 1.52% in 2022, following a 10.8% decline in 2021.
Between 2005 and 2015, the number of rental vacancies in Tennessee declined by 24.5%.
30.4% of Tennessee households didn’t own their home in 2024.
Homeowner vacancy in Tennessee was 1.2%, up 33.3% YoY.
Knoxville had a rental vacancy rate of 0.4%, down 4.76% YoY.
Memphis had 12.0% rental vacancy, up 5.26% YoY.
Nashville-Davidson-Murfreesboro-Franklin had 8.6% rental vacancy, down 7.53% YoY.

Texas’ Rental Vacancy Rate

The Lone Star State’s rental vacancy rate was 9.2% in 2024 (35.3% over the national average).

Texas vacancies remained stable from 2023 to 2024.
In 2023, Texas’s rental vacancy rate was 9.2%, up 16.5% from the previous year.
Rental vacancy rates in Texas increased by 3.75% in 2022, following a 2.56% growth in 2021.
From 2015 to 2020, Texas’s rental vacancy rate declined 8.79%.
Between 2005 and 2015, the rental vacancy in Texas declined 37.2%.
37.1% of Texas households didn’t own their home in 2024.
Homeowner vacancy in Texas was 1.6%, up 23.1% YoY.
Houston-The Woodlands-Sugar Land had a vacancy rate of 9.8%, down 10.1% YoY.
Dallas-Ft. Worth-Arlington had a vacancy rate of 8.9%, up 5.95% YoY.
San Antonio-New Braunfels had 10.0% rental vacancy, up 13.6% YoY.
Austin-Round Rock had 8.2% rental vacancy, down 8.89% YoY.

Utah’s Rental Vacancy Rate

The Beehive State’s rental vacancy rate was 4.8% in 2024 (29.4% under the national average).

Utah rental vacancy declined 9.43% from 2023 to 2024.
In 2023, Utah’s rental vacancy rate was 5.3%, representing a 17.8% increase from 2022.
Rental vacancy rates in Utah declined 6.25% in 2022, following a 40.7% decline in 2021.
From 2015 to 2020, Utah’s rental vacancy rate increased 34.0%.
Between 2005 and 2015, the number of rental vacancies in Utah declined by 46.6%.
31.7% of Utah households didn’t own their home in 2024.
Homeowner vacancy in Utah was 0.6%, down 14.3% YoY.
Salt Lake City had a 6.1% rental vacancy rate, down 1.61% YoY.

Vermont’s Rental Vacancy Rate

The Green Mountain State’s rental vacancy rate was 3.7% in 2024 (45.6% over the national average).

The Vermont rental vacancy rate increased by 5.71% from 2023 to 2024.
In 2023, Vermont’s rental vacancy rate remained at 3.5%, unchanged from 2022.
Rental vacancy in Vermont increased 88.9% in 2022 after a 20.6% decline in 2021.
From 2015 to 2020, Vermont’s rental vacancy rate decreased by 26.5%.
25.7% of Vermont households didn’t own their home in 2024.
The homeowner vacancy rate in Vermont was 0.5%, up 66.7% YoY.
Burlington-South Burlington had a 2.4% multifamily rental vacancy rate in 2024 Q3, up 71.4% YoY.

Virginia’s Rental Vacancy Rate

The Old Dominion State’s rental vacancy rate was 5.6% in 2024 (17.6% below the national average).

The rental vacancy rate in Virginia increased by 14.3% from 2023 to 2024.
In 2023, Virginia’s rental vacancy rate remained at 4.9%, unchanged from 2022.
Rental vacancy rates in Virginia increased by 10.5% in 2022, following a 21.9% decline in 2021.
From 2015 to 2020, Virginia’s rental vacancy rate increased by 69.2%.
Between 2005 and 2015, the rental vacancy rate in Virginia declined by 33.3%.
29.5% of Virginia households didn’t own their home in 2024.
Homeowner vacancy in Virginia was 0.9%, up 50.0% YoY.
Arlington-Alexandria-Washington, D.C. had a 3.0% rental vacancy rate, down 45.5% YoY.
Richmond had 7.9% rental vacancy, up 51.9% YoY.
Virginia Beach-Norfolk-Newport News had 4.7% rental vacancy, down 7.84% YoY.

Washington’s Rental Vacancy Rate

The Evergreen State’s rental vacancy rate was 6.0% in 2024 (11.8% under the national average).

The Washington rental vacancy rate increased by 42.9% from 2023 to 2024.
In 2023, Washington’s rental vacancy rate was 4.2%, a decrease of 10.6% from 2022.
Following a 5.26% decline in 2021, rental vacancies increased 19.4% in 2022.
From 2015 to 2020, Washington’s rental vacancy rate decreased by 15.8%.
Between 2005 and 2015, the rental vacancy in Washington declined by 24.0%.
35.2% of Washington households didn’t own their home in 2024.
Homeowner vacancy in Washington was 1.1%, up 57.1% YoY.
Seattle-Tacoma-Bellevue has a 6.5% rental vacancy rate, up 62.5% YoY.

West Virginia’s Rental Vacancy Rate

The Mountain State’s rental vacancy rate was 9.8% in 2024 (44.1% over the national average).

The West Virginia rental vacancy rate increased by 38.0% from 2023 to 2024.
In 2023, West Virginia’s rental vacancy rate was 7.1%, down 12.3% from 2022.
Rental vacancy rates in West Virginia increased by 30.9% in 2022, following a 14.1% growth in 2021.
From 2015 to 2020, West Virginia’s rental vacancy rate decreased 23.7%.
Between 2005 and 2015, the number of rental vacancies in West Virginia declined by 23.8%.
20.9% of West Virginia households didn’t own their home in 2024.
Homeowner vacancy in West Virginia is 0.9%, with no change from the previous year.
Charleston has a multifamily vacancy rate of 5.8% in 2024 Q3, up 9.43% YoY.

Wisconsin’s Rental Vacancy Rate

The Badger State’s rental vacancy rate was 4.1% in 2024 (39.7% under the national average).

Wisconsin rental vacancy declined 19.6% from 2023 to 2024.
In 2023, Wisconsin’s rental vacancy rate was 5.1%, up 10.9% from 2022.
Rental vacancy rates in Wisconsin increased by 7.41% in 2022, following a 68.8% growth in 2021.
From 2015 to 2020, Wisconsin’s rental vacancy rate decreased by 57.7%.
Between 2005 and 2015, the number of rental vacancies in Wisconsin declined by 33.0%.
32.0% of Wisconsin households didn’t own their home in 2024.
Homeowner vacancy in Wisconsin was 0.5%, the same as the previous year.
Milwaukee-Waukesha-West Allis had a 4.8% rental vacancy rate, up 17.1% YoY.

Wyoming’s Rental Vacancy Rate

The Equality State’s rental vacancy rate was 5.5% in 2024 (19.1% below the national average).

The Wyoming rental vacancy rate increased by 25.0% from 2023 to 2024.
In 2023, Wyoming’s rental vacancy rate was 4.4%, a decrease of 38.9% from 2022.
Rental vacancy in Wyoming declined 11.3% in 2022 following a 24.5% decline in 2021.
From 2015 to 2020, vacancies increased by 21.3%.
Between 2005 and 2015, the rental vacancy in Wyoming increased by 13.6%.
26.5% of Wyoming households didn’t own their home in 2024.
Homeowner vacancy in Wyoming was 0.9%, with a 0.00% change YoY.

Rental Vacancy Rates in U.S. Cities

Next, let’s zoom in further and take a local look. Here’s a snapshot of rental vacancies across the country’s urban centers — specifically, in the 75 most populous metropolitan statistical areas:

Worcester (Massachusetts) had the lowest rental vacancy rate at 0.00% in 2024 (down 100% YoY).
Birmingham-Hoover (Alabama) had the highest vacancy rate at 15.1%, up 23.8% YoY.
At 10.0%, San Antonio (Texas) had the highest vacancy rate amongst major cities with populations over one million residents (up 13.6% YoY).
YoY, vacancies increased in 49.3% of these cities, and 46.7% saw vacancies decline. The remaining 4% didn’t show measurable change or lacked sufficient data.
In cities where vacancies increased, the average 12-month increase is 26.6%.
In cities where vacancies decreased, the average 12-month decline was 18.0%.

Here’s a breakdown of the numbers in the top 10 most populated cities:

Most Populated Cities’ Rental Vacancy Rates
Metropolitan Area	2024 Vacancy Rate	Change from 2023
New York, NY	4.7%	20.5%
Los Angeles, CA	4.8%	20.0%
Chicago, Illinois	5.1%	-8.93%
Houston, Texas	9.8%	-10.1%
Phoenix, AZ	7.8%	-1.25%
Philadelphia, PA	6.3%	13.6%
San Antonio, TX	10.0%	21.2%
San Diego, CA	5.2%	26.8%
Dallas, TX	8.9%	5.95%
Jacksonville, FL	8.8%	-6.38%

Local Rental Vacancy Rates

While the largest cities saw significant declines in rentership throughout the pandemic, many urban centers have rebounded.

Among the 75 most-populated metropolitan statistical areas, Worcester, Massachusetts had the lowest rental vacancy rate in 2024 (0.0%, down 100% YoY).
Birmingham-Hoover, Alabama had the highest vacancy rate among the same set of cities at 15.1%, up 23.8% YoY.
San Antonio, Texas had a 10.0% rental vacancy rate (up 13.6% YoY), which is the highest vacancy rate among major cities where the population exceeds one (1) million.
Among the 75 most-populated cities, 49.3% saw increased rental vacancy YoY while 46.7% saw a decline (not every city shows measurable change or has sufficient data available).
In major cities where the vacancy rate increased, the average 12-month increase is 26.6%.
In major cities with decreased vacancy rates, the average 12-month decline is 18.0%.

Large Metropolitan Areas with the Lowest Rental Vacancy Rates
Metropolitan Area	2024 Vacancy Rate	Change from 2023
Worcester, MA	0.0%	-100.0%
Bridgeport, CT	2.4%	-20.0%
Washington, DC	3.0%	-45.5%
Boston, MA	3.0%	20.0%
Hartford, CT	3.1%	-36.7%
New Haven, CT	3.1%	-6.06%
Providence, RI	3.2%	-13.5%
San Jose, CA	3.3%	0.00%
Riverside, CA	3.7%	0.00%
Grand Rapids, MI	3.8%	18.8%

Unit Rental Vacancy Rates

Did you know that property details, like the number of rooms, construction year, and the monthly rent amount, can influence vacancy rates? Here’s what you need to know:

In 2024, single-family homes had a rental vacancy rate of 5.7%.
Apartments with six or more rooms had a vacancy rate of 5.3% in 2024.
21% of vacancies are units with six or more rooms.
Structures with 10 or more units have an 8.4% vacancy rate.
Buildings with 10 or more units account for 35% of all rental vacancies.
10.8% of vacant rental units were built after March 2010.
14.8% of vacant units were built before 1940.

Large Metropolitan Areas with the Highest Rental Vacancy Rates
Metropolitan Area	2024 Vacancy Rate	Change from 2023
Birmingham, AL	15.1%	23.8%
Charleston, SC	12.8%	6.67%
Memphis, TN	12.0%	5.26%
Little Rock, AR	11.7%	8.33%
Buffalo, NY	10.8%	11.34%
Cape Coral, FL	10.1%	-33.99%
Sarasota, FL	10.1%	87.04%
San Antonio, TX	10.0%	13.64%
Houston, TX	9.8%	-10.09%
Miami, FL	9.5%	13.1%

Rent Prices & Vacancy Rates

Generally, rent prices tend to increase as vacancy rates decrease. Why? It’s about supply and demand. When fewer units are available, renters have a more difficult time finding a unit. When this happens, property owners can charge higher prices.

According to federal reports, the median asking rent was $1,486 in 2024, up 1.85% YoY.
Commercial real estate marketing website Redfin reports a median rent of $1,790 as of August 2025, marking the most significant price increase since December 2022. $1,790 is only $70 below the record high of $1,860 hit during the summer of 2022.
According to Zillow’s methodology, the typical monthly rent in the U.S. was $2,007 in August 2025, a 2.4% increase from 2023.
Federal reports indicate units with rents under $500 had an average vacancy rate of 1.7% in 2024, down 1.50% YoY.
Units with monthly rent prices of $4,000 or more have 11.0% vacancy, down 18.5% YoY.

Bar graph: Vacancy Rates by Monthly Rent Prices 2024 according to the U.S. Census Bureau

Historical Rental Vacancy

Compared to 1986, the national vacancy rate decreased by 4.11%.

From 2010 to 2020, rental vacancy rates declined 39.6%,
The steepest decline in rental vacancy rates occurred between 1965 and 1971, during which time rates decreased by 37.6%.
The steepest increase in rental vacancy rates occurred between 1957 and 1961, during which time rates increased by 68.9%.
From 1978 to 1988, rental vacancy rates rose 60%.
From 2000 to 2004, vacancy rates rose 31.6%.
From 2005 to 2010, housing vacancies increased by 26.3%.

Line graph: Annual Rental Vacancy Rates in the U.S. 1956-2024 according to the U.S. Census Bureau

Excessive Vacancies

When a particular area has an unusually high vacancy rate, it is referred to as hypervacancy or excessive vacancies. A rental vacancy rate of 12% or more is considered high, while a rate of 20% or more is considered hypervacancy. Here’s what the numbers show:

In 2024, none of the 75 largest metropolitan rental markets were experiencing hypervacancy.
In 2023 Q3, Cape Coral-Fort Myers (Florida) was the only one of the 75 largest rental markets in hypervacancy (21.5%).
Three major metropolitan rental markets had high rental vacancy in 2024:
- Birmingham-Hoover, Alabama (15.1%)
- Charleston, South Carolina (12.8%)
- Memphis, Tennessee (12.0%)
Charleston (South Carolina) experienced exceptionally high hypervacancy in 2020 Q2 (26.8%).
In Sarasota (Florida), vacancies nearly tripled in 2021 before declining to 2.0% by 2022 Q3.
In Philadelphia (Pennsylvania), vacant properties led to reduced household wealth of $3.6 billion.
One vacant property on the block could reduce the value of nearby properties by 20% or more.

Homeownership and Vacancies

On average, owner-occupied homes have lower vacancy rates than rentals. In 2025 Q2, the homeowner vacancy rate was 1.1%.

Homeowner vacancy increased 22.22% YoY, up from 0.9% in 2024.
In 2023, homeowner vacancy increased 12.5% YoY.
Following a 10.0% decline in 2021, the homeowner vacancy rate declined by 11.1% in 2022.
From 2010 to 2020, the number of housing vacancies declined by 57.7%.
Housing vacancies have declined 69.0% since 2008’s historic high point of 2.9%.
The U.S. homeownership rate was 65.6% in 2024.
The South had the highest homeowner vacancy rate at 1.3%.
Nationwide, homeownership decreased 0.46% in 2024, down from 65.9% in 2023.
Homeownership increased by 0.15% in 2023 compared to the previous year.
Following a 1.65% decline in 2021, homeownership increased 0.46% in 2022.
In 2019 and 2020, homeownership increased by 0.31% and 3.10%, respectively.

Sources

Rental Vacancy Rate