Highlights. The national rental vacancy rate is 6.6% as of the first quarter (Q1) of 2024, up 1.93% from the average quarterly vacancy rate in 2023.
- The suburban rental vacancy rate is 6.2%.
- Rental vacancy in principal cities increased 16.9% in 2023.
- 31.6% of vacant homes are available for rent.
- The median monthly rental price among vacancies was $1,469 in 2024Q1 and may be as high as $1,987.
*Seasonal rentals, such as vacation rentals or some Airbnbs, make up 23.4% of all rental units and are not included in this report.
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
National Rental Vacancy Rate
For most of the past decade, the national rental vacancy rate has steadily declined; the annual U.S. rental vacancy rate hit a 38-year low in 2022 (5.8%).
- 5.74% of habitable rental units in the United States are vacant.
- 46.0% of vacant units have been empty for 2 months or less.
- 6.3% of vacant units have been empty for 2 years or more.
- The national vacancy rate increased 12.1% from 2022 to 2023.
- U.S. rental vacancy remained steady in 2022 at an average 5.8%.
- The lowest rental vacancy rate of 2022 was 5.6% in 2022Q2.
- The rental vacancy rate in principal cities averaged 7.0% in 2023, up 16.67% year-over-year (YoY).
- In suburban areas, the rental vacancy rate was 5.9% in 2023, up 11.32% YoY.
- Rural rental vacancy was 6.3% in 2023, down 10.0% YoY.
- 62.0% of rental vacancies were in multifamily units.
- Units constructed after March 2010 are the most likely to be empty with a vacancy rate of 12.5% in 2023.
- The national rental vacancy rate declined 41.4% between 2009 (when vacancy hit an all-time high of 11.1%) and 2023.
- Among year-round housing vacancies (excluding seasonal vacancies), 24.0% were available for rent in 2023.
- 9.82% of vacant housing units (excluding seasonal vacancies) are second homes.
Regional & State Vacancy
Rental vacancy statistics indicate reduced rental vacancy on the coasts.
- In southern states, the rental vacancy rate was 8.2%, up 13.9% YoY as of 2023.
- Western states had a rental vacancy rate of 5.1%, up 15.9% YoY.
- In the Midwest, the vacancy rate was 7.1% in 2023, up 7.58% YoY.
- In the Northeast, the vacancy rate was 4.3%, up 2.38% YoY.
- Among states, Oregon had the highest rate of new vacancies in 2023 with 46.34% more vacancies than in 2022.
- Maryland had the second-highest YoY increase with vacancies up 40.63% YoY.
- Wyoming and North Dakota have the greatest rate of decline at 38.89% and 30.33%, respectively.
- Arkansas and Indiana have the highest rate of vacant units at 11.1% and 10.5%, respectively.
- Massachusetts has the lowest vacancy rate at 2.5%, down 10.71% YoY.
| State | Vacancy Rate 2023 | Change from 2022 |
|---|---|---|
| Alabama | 9.3% | 14.81% |
| Alaska | 4.9% | -7.55% |
| Arizona | 7.7% | 24.19% |
| Arkansas | 11.1% | 5.71% |
| California | 4.4% | 12.82% |
| Colorado | 5.1% | 24.39% |
| Connecticut | 3.8% | 15.15% |
| Delaware | 3.6% | 2.86% |
| District of Columbia | 7.4% | -6.33% |
| Florida | 8.5% | 18.06% |
| Georgia | 8.3% | 18.57% |
| Hawaii | 8.9% | 28.99% |
| Idaho | 5.2% | 30.00% |
| Illinois | 7.5% | 1.35% |
| Indiana | 10.5% | 19.32% |
| Iowa | 8.2% | 7.89% |
| Kansas | 8.3% | -2.35% |
| Kentucky | 3.5% | -22.22% |
| Louisiana | 8.4% | 21.74% |
| Maine | 2.9% | -27.50% |
| Maryland | 7.3% | 37.74% |
| Massachusetts | 2.5% | -10.71% |
| Michigan | 7.3% | 32.73% |
| Minnesota | 6.9% | -5.48% |
| Mississippi | 8.6% | 2.38% |
| Missouri | 7.4% | 4.23% |
| Montana | 4.5% | 40.63% |
| Nebraska | 4.9% | -5.77% |
| Nevada | 7.0% | 16.67% |
| New Hampshire | 4.7% | 9.30% |
| New Jersey | 3.1% | -16.22% |
| New Mexico | 5.8% | -3.33% |
| New York | 4.7% | 9.30% |
| North Carolina | 7.6% | 20.63% |
| North Dakota | 8.5% | -30.33% |
| Ohio | 5.5% | 3.77% |
| Oklahoma | 8.5% | -1.16% |
| Oregon | 6.0% | 46.34% |
| Pennsylvania | 6.1% | 15.09% |
| Rhode Island | 3.7% | -19.57% |
| South Carolina | 10.3% | 32.05% |
| South Dakota | 6.5% | 10.17% |
| Tennessee | 7.8% | 6.85% |
| Texas | 9.2% | 16.46% |
| Utah | 5.3% | 17.78% |
| Vermont | 3.5% | 0.00% |
| Virginia | 4.9% | 0.00% |
| Washington | 4.2% | -10.64% |
| West Virginia | 7.1% | -12.35% |
| Wisconsin | 5.1% | 10.87% |
| Wyoming | 4.4% | -38.89% |
Alabama’s Rental Vacancy Rate
The statewide rental vacancy rate in Alabama was 9.3% in 2023; that’s 43.1% above the national average.
- Alabama rental vacancy increased 14.8% from 2022 to 2023.
- Rental vacancy in Alabama declined 30.8% in 2021 after a 14.0% decline in 2020.
- From 2010 to 2020, Alabama’s rental vacancy rate increased 12.4%.
- 26.2% of Alabama households do not own their home as of 2023.
- Homeowner vacancy in Alabama was 0.9% in 2023, up 28.6% YoY.
- The metropolitan area of Birgmingham-Hoover had a 2023 rental vacancy rate of 12.2%, down 3.94% YoY but 87.7% higher than the average metro vacancy rate.
Alaska’s Rental Vacancy Rate
The statewide rental vacancy rate in Alaska was 4.9% in 2023; that’s 24.6% below the national average.
- Alaska rental vacancy declined 7.55% between 2022 and 2023.
- Rental vacancy in Alaska increased 26.2% in 2021 after a 40.0% decline in 2020.
- From 2010 to 2020, Alaska’s rental vacancy rate increased 25.0%.
- 35.7% of Alaskan households do not own their home as of 2023.
- Homeowner vacancy in Alaska was 0.7% in 2023, down 30.0% YoY.
- The municipality of Anchorage had a 2023 rental vacancy rate of 4.1%, 36.9% lower than the average metro vacancy rate.
Arizona’s Rental Vacancy Rate
The statewide rental vacancy rate in Arizona was 7.7% in 2023; that’s 18.5% above the national average.
- Arizona rental vacancy increased 21.2% between 2022 and 2023.
- Rental vacancy in Arizona increased 29.2% in 2021 after a 12.7% decline in 2020.
- From 2010 to 2020, Arizona’s rental vacancy rate declined 63.1%.
- 30.3% of Arizona households do not own their homes as of 2023.
- Homeowner vacancy in Arizona was 0.9% in 2023, down 10.0% YoY.
- The Phoenix-Mesa metropolitan area has a vacancy rate of 8.0%, up 25.0% YoY.
- The Tucson metropolitan area has a rental vacancy rate of 10.2%, up 27.5% YoY.
Arkansas’ Rental Vacancy Rate
The statewide rental vacancy rate in Arkansas was 11.1% in 2023; that’s 70.8% above the national average.
- Arkansas rental vacancy increased 5.71% between 2022 and 2023.
- Rental vacancy in Arkansas increased 40.0% in 2021 after a 10.73% decline in 2020.
- From 2010 to 2020, Arkansas’ rental vacancy rate declined 26.3%.
- 34.1% of Arkansas households do not own their homes as of 2023.
- Homeowner vacancy in Arkansas was 1.2% in 2023, down 20.0% YoY.
- The Little Rock-North Little Rock-Conway metropolitan area had a rental vacancy rate of 10.8% in 2023, down 5.26% YoY but 66.2% higher than the average metro rental vacancy rate.
California’s Rental Vacancy Rate
The statewide rental vacancy rate in California was 4.4% in 2023; that’s 32.3% below the national average.
- California rental vacancy increased 12.8% between 2022 and 2023.
- Rental vacancy in California declined 9.30% in 2021 after a 7.50% increase in 2020.
- From 2010 to 2020, California’s rental vacancy rate declined 46.7%.
- 44.2% of California households do not own their homes as of 2023.
- Homeowner vacancy in California was 0.7% in 2022 and in 2023.
- The Los Angeles-Long Beach-Anaheim metropolitan area has a rental vacancy rate of 4.0%, down 2.44% YoY.
- The Riverside-San Bernadino-Ontario metropolitan area has a rental vacancy rate of 3.7%, up 5.71% YoY.
- San Diego-Carlesbad’s vacancy rate was 4.1% in 2023, down 13.9% YoY.
- The San Francisco-Oakland metropolitan area has a rental vacancy rate of 6.6%, up 22.2% YoY.
- San Jose-Sunnyvale has a rental vacancy rate of 3.3%, down 29.8% YoY.
Colorado’s Rental Vacancy Rate
The statewide rental vacancy rate in Colorado was 5.1% in 2023; that’s 21.5% below the national average.
- Colorado rental vacancy increased 24.4% from 2022 to 2023.
- Rental vacancy in Colorado declined 8.89% in 2021 after a 12.5% increase in 2020.
- From 2010 to 2020, Colorado’s rental vacancy rate declined 49.4%.
- 32.8% of Colorado households do not own their homes as of 2023.
- Homeowner vacancy in Colorado was 0.9% in 2023, up 200% YoY.
- The Denver-Aurora-Lakewood area has an average rental vacancy rate of 5.3%, up 3.92% YoY.
Connecticut’s Rental Vacancy Rate
The statewide rental vacancy rate in Connecticut was 3.8% in 2023; that’s 41.5% below the national average.
- Connecticut rental vacancy increased 15.15% from 2022 to 2023.
- Rental vacancy in Connecticut declined 35.3% in 2021 after an 8.93% decline in 2020.
- From 2010 to 2020, Connecticut’s rental vacancy rate declined 47.7%.
- 31.8% of Connecticut households do not own their homes as of 2023.
- Homeowner vacancy in Connecticut was 0.7%, down 66.7% YoY.
- The Hartford metropolitan area has an average rental vacancy rate of 4.9%, up 11.36% YoY.
- New Haven-Milford has a rental vacancy rate of 3.3% in 2023, up 26.9% YoY.
- Bridgeport-Stamford-Norwalk has 3.0% rental vacancy, up 25.0% YoY.
Delaware’s Rental Vacancy Rate
The statewide rental vacancy rate in Delaware was 3.6% in 2023; that’s 44.6% below the national average.
- Delaware rental vacancy increased 2.86% from 2022 to 2023.
- Rental vacancy in Delaware declined 7.89% in 2021 after a 37.7% decline in 2020.
- From 2010 to 2020, Delaware’s rental vacancy rate declined 38.4%.
- 24.3% of Delaware households do not own their homes as of 2023.
- Homeowner vacancy in Delaware was 0.4% in 2023, down 50.0% YoY.
- The Wilmington-Camden-Philadelphia metropolitan area has an average rental vacancy rate of 5.2%, up 23.8% YoY.
District of Columbia
The rental vacancy rate in the District of Columbia was 7.4% in 2023; that’s 13.85% above the national average.
- D.C. rental vacancy declined 6.33% from 2022 to 2023.
- Rental vacancy in D.C. declined 19.4% in 2021 after a 19.5% increase in 2020.
- From 2010 to 2020, D.C.’s rental vacancy rate declined 8.89%.
- 59.8% of D.C. households do not own their home as of 2023.
- Homeowner vacancy in D.C. was 1.1%, down 26.7% YoY.
Florida’s Rental Vacancy Rate
The statewide rental vacancy rate in Florida was 8.5% in 2023; that’s 30.8% above the national average.
- Florida rental vacancy increased 18.06% from 2022 to 2023.
- Rental vacancy in Florida increased 10.8% in 2021 after an 11.0% decline in 2020.
- From 2010 to 2020, vacant rentals decreased 51.7%.
- 32.7% of Florida households do not own their homes as of 2023.
- Homeowner vacancy in Florida was 1.0% in 2023, a 23.1% decrease YoY.
- Jacksonville’s rental vacancy rate was 9.4%, up 51.6% YoY.
- Miami-Fort Lauderdale-West Palm Beach has a rental vacancy rate of 8.4%, up 33.3% YoY.
- The Tampa-St. Petersburg-Clearwater metropolitan area rental vacancy rate was 8.5%, up 4.94% YoY.
- Cape Coral-Fort Myers has 15.3% rental vacancy, up 31.9% YoY.
- Sarasota-North Port-Bradenton has 5.4% rental vacancy, down 5.26% YoY.
- Orlando-Kissimmee-Sanford has 7.0% rental vacancy, up 7.69% YoY.
Georgia’s Rental Vacancy Rate
The statewide rental vacancy rate in Georgia was 8.3% in 2023; that’s 27.7% above the national average.
- Georgia rental vacancy increased 18.6% from 2022 to 2023.
- Rental vacancy in Georgia increased 16.7% in 2021 after a 15.5% decline in 2020.
- From 2010 to 2020, Georgia’s rental vacancy rate declined 42.3%.
- 34.5% of Georgia households do not own their homes as of 2023.
- Homeowner vacancy in Georgia was 1.1% in 2023, up 37.5% YoY.
- The Atlanta-Sandy Springs-Roswell metropolitan area has a rental vacancy rate of 8.7% in 2023, up 29.9% YoY and 33.8% higher than the average metro rental vacancy rate.
Hawaii’s Rental Vacancy Rate
The statewide rental vacancy rate in Hawaii was 8.9% in 2023; that’s 36.9% above the national average.
- Hawaii rental vacancy increased 29.0% from 2022 to 2023.
- Rental vacancy in Hawaii declined 5.48% in 2021 after a 2.67% decline in 2020.
- From 2010 to 2020, Hawaii’s rental vacancy rate declined 7.41%.
- 38.2% of Hawaii households do not own their homes as of 2023.
- Homeowner vacancy in Hawaii was 0.7% in 2023, down 30.0% YoY.
- Urban Honolulu has a rental vacancy rate of 6.8%, up 19.3% YoY.
Idaho’s Rental Vacancy Rate
The statewide rental vacancy rate in Idaho was 5.2% in 2023; that’s 20.0% below the national average.
- Idaho rental vacancy increased 30.00% from 2022 to 2023.
- Rental vacancy in Idaho declined 9.09% in 2021 after a 0.0% change in 2020.
- From 2010 to 2020, Idaho’s rental vacancy rate declined 50.0%.
- 28.0% of Idaho households do not own their homes as of 2023.
- Homeowner vacancy in Idaho was 0.7% in 2023, up 16.7% YoY.
- Boise has a multifamily rental vacancy rate of 1.88% and a single family rental vacancy rate of 1.74% as of the last quarter of 2023.
Illinois’ Rental Vacancy Rate
The statewide rental vacancy rate in Illinois was 7.5% in 2023; that’s 15.4% above the national average.
- Illinois rental vacancy increased 1.35% from 2022 to 2023.
- Rental vacancy in Illinois declined 9.76% in 2021 after a 3.80 increase in 2020.
- From 2010 to 2020, Illinois’s rental vacancy rate declined 28.2%.
- 32.2% of Illinois households do not own their homes as of 2023.
- Homeowner vacancy in Illinois was 0.6% in 2023, down 53.8% YoY.
- The Chicago-Naperville-Elgin metropolitan area has a 5.6% rental vacancy rate, down 8.20% YoY and 13.8% lower than the average metro rental vacancy rate.
Indiana’s Rental Vacancy Rate
The statewide rental vacancy rate in Indiana was 10.5% in 2023; that’s 61.5% above the national average.
- Indiana rental vacancy increased 19.3% from 2022 to 2023.
- Rental vacancy in Indiana increased 4.76% in 2021 after a 9.68% decline in 2020.
- From 2010 to 2020, Indiana’s rental vacancy rate declined 21.2%.
- 26.7% of Indiana households do not own their homes as of 2023.
- Homeowner vacancy in Indiana was 0.8% in 2023, a 0.0% change YoY.
- The Indianapolis-Carmel-Anderson metropolitan area has a 8.8% rental vacancy rate, down 20.0% YoY.
Iowa’s Rental Vacancy Rate
The statewide rental vacancy rate in Iowa was 8.2% in 2023; that’s 26.15% above the national average.
- Iowa rental vacancy increased 7.89% from 2022 to 2023.
- Rental vacancy in Iowa increased 4.11% in 2021 after an 18.0% decline in 2020.
- From 2010 to 2020, Iowa’s rental vacancy rate increased 9.88%.
- 28.2% of Iowa households do not own their homes as of 2023.
- Homeowner vacancy in Iowa was 0.8% in 2023, up 33.3% YoY.
- The Des Moines-West Des Moines metropolitan area has a multifamily rental vacancy rate of 8.5% in 2023Q4, up 7.59% YoY.
Kansas’ Rental Vacancy Rate
The statewide rental vacancy rate in Kansas was 8.3% in 2023; that’s 27.7% above the national average.
- Kansas rental vacancy declined 2.35% from 2022 to 2023.
- Rental vacancy in Kansas declined 3.41% in 2021 after a 27.3% decline in 2020.
- From 2010 to 2020, Kansas’ rental vacancy rate increased 7.08%.
- 31.5% of Kansas households do not own their homes as of 2023.
- Homeowner vacancy in Kansas was 1.1% in 2023, up 10.0% YoY.
- The city of Wichita has a 8.2% multifamily rental vacancy rate in 2023Q4, down 15.5% YoY.
Kentucky’s Rental Vacancy Rate
The statewide rental vacancy rate in Kentucky was 3.5% in 2023; that’s 46.15% below the national average.
- Kentucky rental vacancy declined 22.2% from 2022 to 2023.
- Rental vacancy in Kentucky declined 27.4% in 2021 after a 1.64% increase in 2020.
- From 2010 to 2020, Kentucky’s rental vacancy rate declined 41.3%.
- 30.6% of Kentucky households do not own their homes as of 2023.
- Homeowner vacancy in Kentucky was 0.5% in 2023, down 28.6% YoY.
- The Louisville-Jefferson County metropolitan statistical area has 3.6% rental vacancy, down 32.1% YoY.
Louisiana’s Rental Vacancy Rate
The statewide rental vacancy rate in Louisiana was 8.4% in 2023; that’s 29.2% above the national average.
- Louisiana rental vacancy increased 21.74% from 2022 to 2023.
- Rental vacancy in Louisiana declined 10.4% in 2021 after a 3.75% decline in 2020.
- From 2010 to 2020, Louisiana’s rental vacancy rate declined 36.0%.
- 32.7% of Louisiana households do not own their homes as of 2023.
- Homeowner vacancy in Louisiana was 1.5% in 2023, up 36.4% YoY.
- The New Orleans-Metairie metropolitan area has a 9.2% rental vacancy rate, up 39.4% YoY.
- Baton Rouge has 6.6% rental vacancy, up 29.4% YoY.
Maine’s Rental Vacancy Rate
The statewide rental vacancy rate in Maine was 2.9% in 2023; that’s 55.4% below the national average.
- Maine rental vacancy declined 27.5% from 2022 to 2023.
- Rental vacancy in Maine declined 2.44% in 2021 after a 17.1% increase in 2020.
- From 2010 to 2020, Maine’s rental vacancy rate declined 43.5%.
- 24.5% of Maine households do not own their home as of 2023.
- Homeowner vacancy in Maine was 0.7% in 2023, up 75.0% YoY.
- The Portland-South Portland metropolitan area had a 5.6% multifamily rental vacancy rate in 2023Q4, up 69.7% YoY.
Maryland’s Rental Vacancy Rate
The statewide rental vacancy rate in Maryland was 7.3% in 2023; that’s 12.3% above the national average.
- Maryland rental vacancy increased 37.7% from 2022 to 2023.
- Rental vacancy in Maryland increased 6.00% in 2021 after a 10.7% decline in 2020.
- From 2010 to 2020, Maryland’s rental vacancy rate declined 46.7%.
- 28.4% of Maryland households do not own their homes as of 2023.
- Homeowner vacancy in Maryland was 0.5% in 2023, up 25.0% YoY.
- The Baltimore-Columbia-Towson metropolitan area had a 9.4% rental vacancy rate, up 77.36% YoY.
Massachusetts’ Rental Vacancy Rate
The statewide rental vacancy rate in Massachusetts was 2.5% in 2023; that’s 61.5% below the national average.
- Massachusetts rental vacancy declined 10.7% from 2022 to 2023.
- Rental vacancy in Massachusetts declined 33.3% in 2021 after an 8.70% decline in 2020.
- From 2010 to 2020, Massachusetts’ rental vacancy rate declined 30.3%.
- 38.1% of Massachusetts households do not own their homes as of 2023.
- Homeowner vacancy in Massachusetts was 0.4% in 2023, down 33.3% YoY.
- The Boston-Cambridge-Newton metropolitan area has a rental vacancy rate of 2.5%, a 0.0% change YoY.
- Worcester has 1.9% rental vacancy, up 18.75% YoY.
Michigan’s Rental Vacancy Rate
The statewide rental vacancy rate in Michigan was 7.3% in 2023; that’s 12.3% above the national average.
- Michigan rental vacancy increased 32.7% from 2022 to 2023.
- Rental vacancy in Michigan declined 3.51% in 2021 after a 10.9% decline in 2020.
- From 2010 to 2020, Michigan’s rental vacancy rate decreased 51.1%.
- 25.9% of Michigan households do not own their homes as of 2023.
- Homeowner vacancy in Michigan was 0.7% in 2023, up 16.7% YoY.
- The Detroit-Warren-Dearborn metropolitan area has 9.3% rental vacancy, up 106.67% YoY.
- Grand Rapids-Wyoming metropolitan area has 3.2% rental vacancy, up 33.3% YoY.
Minnesota’s Rental Vacancy Rate
The statewide rental vacancy rate in Minnesota was 6.9% in 2023; that’s 6.15% above the national average.
- Minnesota rental vacancy declined 5.48% from 2022 to 2023.
- Minnesota’s vacancy rate increased 10.6% in 2021 after a 43.5% increase in 2020.
- From 2010 to 2020, Minnesota’s rental vacancy rate decreased 44.6%.
- 26.0% of Minnesota households do not own their homes as of 2023.
- Homeowner vacancy in Minnesota was 0.6% in 2023, down 25.0% YoY.
- The Minneapolis-St. Paul-Bloomington metropolitan area has a vacancy rate of 8.1%, up 20.9% YoY.
Mississippi’s Rental Vacancy Rate
The statewide rental vacancy rate in Mississippi was 8.6% in 2023; that’s 32.3% above the national average.
- Mississippi rental vacancy increased 2.38% from 2022 to 2023.
- Rental vacancy in Mississippi declined 8.70% in 2021 after a 6.98% increase in 2020.
- From 2010 to 2020, Mississippi’s rental vacancy rate declined 44.9%.
- 24.5% of Mississippi households do not own their homes as of 2023.
- Homeowner vacancy in Mississippi was 0.8% in 2023, up 33.3% YoY.
- The city of Jackson had a 10.9% multifamily rental vacancy rate in 2023Q4, up 1.87% YoY.
Missouri’s Rental Vacancy Rate
The statewide rental vacancy rate in Missouri was 7.4% in 2023; that’s 13.85% above the national average.
- Missouri rental vacancy increased 4.23% from 2022 to 2023.
- Rental vacancy in Missouri ideclined 17.4% in 2021 after 28.4% growth in 2020.
- From 2010 to 2020, Missouri’s rental vacancy rate decreased 42.2%.
- 31.3% of Missouri households do not own their homes as of 2023.
- Homeowner vacancy in Missouri was 0.8% in 2023, down 11.1% YoY.
- The Kansas City metropolitan area has a rental vacancy rate of 7.6%, down 2.56% YoY.
- The St. Louis rental vacancy rate was 7.8%, up 14.7% YoY.
Montana’s Rental Vacancy Rate
The statewide rental vacancy rate in Montana was 4.5% in 2023; that’s 30.8% below the national average.
- Montana rental vacancy increased 40.6% from 2022 to 2023.
- Rental vacancy in Montana declined 22.0% in 2021 after a 6.82% decline in 2020.
- From 2010 to 2020, Montana’s rental vacancy rate declined 22.8%.
- 29.0% of Montana households do not own their homes as of 2023.
- Homeowner vacancy in Montana was 0.8% in 2023, up 33.3% YoY.
- Billings had a 2.4% multifamily rental vacancy rate at the end of 2022Q3, up 4.35% YoY.
Nebraska’s Rental Vacancy Rate
The statewide rental vacancy rate in Nebraska was 4.9% in 2023; that’s 24.6% below the national average.
- Nebraska rental vacancy declined 5.77% from 2022 to 2023.
- Rental vacancy in Nebraska declined 8.77% in 2021 after a 12.3% decline in 2020.
- From 2010 to 2020, Nebraska’s rental vacancy rate declined 9.72%.
- 31.6% of Nebraska households do not own their homes as of 2023.
- Homeowner vacancy in Nebraska was 0.6% in 2023, down 14.3% YoY.
- The Omaha metropolitan area has a rental vacancy rate of 4.3%, up 2.38% YoY.
Nevada’s Rental Vacancy Rate
The statewide rental vacancy rate in Nevada was 7.0% in 2023; that’s 7.69% above the national average.
- Nevada rental vacancy increased 16.7% from 2022 to 2023.
- Rental vacancy in Nevada declined 30.4% in 2021 after an 11.5% decline in 2020.
- From 2010 to 2020, Nevada’s rental vacancy rate decreased 61.2%.
- 38.8% of Nevada households do not own their homes as of 2023.
- Homeowner vacancy in Nevada was 1.0% in 2023 with 0.0% change YoY.
- The Las Vegas-Henderson-Paradise metropolitan area has a rental vacancy rate of 7.2%, up 26.3% YoY and 10.8% higher than in the average metro rental vacancy rate.
New Hampshire’s Rental Vacancy Rate
The statewide rental vacancy rate in New Hampshire was 4.7% in 2023; that’s 27.7% below the national average.
- New Hampshire rental vacancy increased 9.30% from 2022 to 2023.
- Rental vacancy in New Hampshire increased 22.9% in 2021 after a 45.8% increase in 2020.
- From 2010 to 2020, rental vacancy declined 66.7%.
- 25.7% of New Hampshire households do not own their homes as of 2023.
- Homeowner vacancy in New Hampshire was 0.3% in 2023, down 25.0% YoY.
- In the Manchester metropolitan area, the multifamily rental vacancy rate was 6.3% in 2023Q4, up 8.62% YoY.
New Jersey’s Rental Vacancy Rate
The statewide rental vacancy rate in New Jersey was 3.1% in 2023; that’s 52.3% below the national average.
- New Jersey rental vacancy declined 16.2% from 2022 to 2023.
- Rental vacancy in New Jersey increased 2.78% in 2021 after a 24.1% increase in 2020.
- From 2010 to 2020, New Jersey’s rental vacancy rate decreased 68.1%.
- 37.3% of New Jersey households do not own their homes as of 2023.
- Homeowner vacancy in New Jersey was 0.6% in 2023, with 0.0% change YoY.
- Trenton-Princeton has a multifamily rental vacancy rate of 3.9% in 2023Q4, up 13.46% YoY.
New Mexico’s Rental Vacancy Rate
The statewide rental vacancy rate in New Mexico was 5.8% in 2023; that’s 10.8% below the national average.
- New Mexico rental vacancy declined 3.33% from 2022 to 2023.
- New Mexico’s rental vacancy rate declined 13.0% in 2021 after 6.15% growth in 2020.
- From 2010 to 2020, rental vacancy increased 3.17%.
- 29.7% of New Mexico households do not own their homes as of 2023.
- Homeowner vacancy in New Mexico was 0.9% in 2023, up 12.5% YoY.
- Albuquerque has a vacancy rate of 6.1%, up 10.9% YoY.
New York’s Rental Vacancy Rate
The statewide rental vacancy rate in New York was 4.7% in 2023; that’s 27.7% below the national average.
- New York rental vacancy increased 9.30% from 2022 to 2023.
- Rental vacancy in New York declined 27.1% in 2021 after 7.27% growth in 2020.
- From 2010 to 2020, New York’s rental vacancy declined 19.1%.
- 46.7% of New York households do not own their homes as of 2023.
- Homeowner vacancy in New York was 1.0% in 2023, a 0.0% change YoY.
- The New York-Newark-Jersey City metropolitan area has a rental vacancy rate of 3.9%, up 11.4% YoY.
- The Albany-Schenectady-Troy metropolitan area has a rental vacancy rate of 4.1%, down 55.4% YoY.
- Buffalo-Cheektowaga-Niagara Falls has a rental vacancy rate of 9.7%, up 36.6% YoY.
- Rochester has 2.0% rental vacancy, down 60.0% YoY.
- Syracuse has 6.4% rental vacancy, down 13.5% YoY.
North Carolina’s Rental Vacancy Rate
The statewide rental vacancy rate in North Carolina was 7.6% in 2023; that’s 16.9% above the national average.
- North Carolina rental vacancy increased 20.6% from 2022 to 2023.
- Rental vacancy in North Carolina increased 18.9% in 2021 after an 8.62% decline in 2020.
- From 2010 to 2020, North Carolina’s rental vacancy rate declined 51.7%.
- 33.1% of North Carolina households do not own their homes as of 2023.
- Homeowner vacancy in North Carolina was 0.5% in 2023, down 28.6% YoY.
- The Charlotte-Concord-Gastonia metropolitan area has a rental vacancy rate of 6.6%, up 11.86% YoY.
- Raleigh has a rental vacancy rate of 8.8%, up 23.94% YoY.
- Greensboro-High Point has 5.7% rental vacancy, down 44.1% YoY.
North Dakota’s Rental Vacancy Rate
The statewide rental vacancy rate in North Dakota was 8.5% in 2023; that’s 30.8% below the national average.
- North Dakota rental vacancy declined 30.3% from 2022 to 2023.
- Rental vacancy in North Dakota declined 8.27% in 2021 after a 2.21% decline in 2020.
- From 2010 to 2020, North Dakota’s rental vacancy rate increased 83.8%.
- 34.3% of North Dakota households do not own their homes as of 2023.
- Homeowner vacancy in North Dakota was 0.7% in 2023, down 36.4% YoY.
- Fargo has a multifamily rental vacancy rate of 9.5% in 2023Q4, up 9.20% YoY.
Ohio’s Rental Vacancy Rate
The statewide rental vacancy rate in Ohio was 5.5% in 2023; that’s 15.4% below the national average.
- Ohio rental vacancy increased 3.77% from 2022 to 2023.
- Rental vacancy in Ohio declined 8.62% in 2021 after a 4.92% decline in 2020.
- From 2010 to 2020, Ohio’s rental vacancy rate declined 47.0%.
- 33.4% of Ohio households do not own their homes as of 2023.
- Homeowner vacancy in Ohio was 0.6% in 2023, down 25.0% YoY.
- Akron has a 4.9% rental vacancy rate, up 16.7% YoY.
- The Cincinnati metropolitan area has a rental vacancy rate of 7.2%, up 14.3% YoY.
- Cleveland-Elyria has 4.7% rental vacancy, up 46.9% YoY.
- Columbus has a rental vacancy rate was 5.8%, up 52.6% YoY.
- Dayton has a rental vacancy rate of 5.3%, down 5.36% YoY.
Oklahoma’s Rental Vacancy Rate
The statewide rental vacancy rate in Oklahoma was 8.5% in 2023; that’s 30.8% above the national average.
- Oklahoma rental vacancy declined 1.16% from 2022 to 2023.
- Rental vacancy rates increased 11.7% in 2021 after an 8.33% decline in 2020.
- From 2010 to 2020, Oklahoma’s rental vacancy rate declined 22.9%.
- 32.0% of Oklahoma households do not own a home as of 2023.
- Homeowner vacancy in Oklahoma was 1.3% in 2023, up 62.5% YoY.
- Oklahoma City’s rental vacancy rate was 10.6%, with 0.0% change YoY.
- Tulsa’s rental vacancy rate was 6.7%, up 19.64% YoY.
Oregon’s Rental Vacancy Rate
The statewide rental vacancy rate in Oregon was 6.0% in 2023; that’s 7.69% below the national average.
- Oregon rental vacancy increased 46.34% from 2022 to 2023.
- Rental vacancy in Oregon declined 8.89% in 2021 after a 4.26% decline in 2020.
- From 2010 to 2020, Oregon’s rental vacancy rate declined 14.5%.
- 35.9% of Oregon households do not own their homes as of 2023.
- Homeowner vacancy in Oregon was 0.8% in 2023, down 27.3% YoY.
- The Portland-Vancouver-Hillsboro metropolitan area has a rental vacancy rate of 6.8%, up 70.0% YoY.
Pennsylvania’s Rental Vacancy Rate
The statewide rental vacancy rate in Pennsylvania was 6.1% in 2023; that’s 6.15% below the national average.
- Pennsylvania rental vacancy increased 15.1% from 2022 to 2023.
- Rental vacancy in Pennsylvania declined 15.9% in 2021 after a 16.0% decline in 2020.
- From 2010 to 2020, Pennsylvania’s rental vacancy rate decreased 14.8%.
- 29.0% of Pennsylvania households do not own their homes as of 2023.
- Homeowner vacancy in Pennsylvania was 0.7% in 2023, down 22.2% YoY.
- Pittsburgh’s vacancy rate was 6.3%, down 24.1% YoY.
- Allentown-Bethlehem has 7.9% rental vacancy, up 29.5% YoY.
Rhode Island’s Rental Vacancy Rate
The statewide rental vacancy rate in Rhode Island was 3.7% in 2023; that’s 43.1% below the national average.
- Rhode Island rental vacancy declined 19.6% from 2022 to 2023.
- Rental vacancy in Rhode Island increased 64.3% in 2021 after 7.69% growth in 2020.
- From 2010 to 2020, Rhode Island’s rental vacancy rate declined 63.4%.
- 35.6% of Rhode Island households do not own their homes as of 2023.
- Homeowner vacancy in Rhode Island was 0.3% in 2023, down 50.0% YoY.
- The Providence-Warwick metropolitan area has a 3.7% rental vacancy rate, down 17.8% YoY.
South Carolina’s Rental Vacancy Rate
The statewide rental vacancy rate in South Carolina was 10.3% in 2023; that’s 58.46% above the national average.
- South Carolina rental vacancy increased 32.05% from 2022 to 2023.
- Rental vacancy in South Carolina declined 2.50% in 2021 following a 17.5% decline in 2020.
- From 2010 to 2020, South Carolina’s rental vacancy rate declined 30.2%.
- 27.0% of South Carolina households do not own their homes as of 2023.
- Homeowner vacancy in South Carolina was 0.6% in 2023, down 14.3% YoY.
- Charleston-North Charleston-Summerville has a rental vacancy rate of 12.0%, up 36.36% YoY.
- Columbia has 8.5% rental vacancy, up 39.34% YoY.
South Dakota’s Rental Vacancy Rate
The statewide rental vacancy rate in South Dakota was 6.5% in 2023; that’s the same as the national average.
- South Dakota rental vacancy increased 10.2% from 2022 to 2023.
- South Dakota’s rental vacancy declined 32.2% in 2021 after a 3.33% decline in 2020.
- From 2010 to 2020, South Dakota’s rental vacancy rate declined 5.26%.
- 30.7% of South Dakota households do not own their homes as of 2023.
- Homeowner vacancy in South Dakota was 0.9% in 2023, up 50.0% YoY.
- The multifamily rental vacancy rate in Sioux Falls was 10.4% in 2023Q4, up 2.97% YoY.
Tennessee’s Rental Vacancy Rate
The statewide rental vacancy rate in Tennessee was 7.8% in 2023; that’s 20.0% above the national average.
- Tennessee rental vacancy increased 6.85% from 2022 to 2023.
- Rental vacancy in Tennessee stabilized in 2021 following an 8.75% decline in 2020.
- From 2010 to 2020, Tennessee’s rental vacancy rate declined 36.0%.
- 31.1% of Tennessee households do not own their homes as of 2023.
- Homeowner vacancy in Tennessee was 0.9% in 2023, up 28.6% YoY.
- Knoxville has a rental vacancy rate of 4.2%, down 37.3% YoY.
- Memphis has 11.4% rental vacancy, up 78.1% YoY.
- Nashville-Davidson-Murfreesboro-Franklin has 9.3% rental vacancy, up 45.3% YoY.
Texas’s Rental Vacancy Rate
The statewide rental vacancy rate in Texas was 9.2% in 2023; that’s 41.54% above the national average.
- Texas rental vacancy increased 16.46% from 2022 to 2023.
- Rental vacancy in Texas declined 5.95% in 2021 after a 2.33% decline in 2020.
- From 2010 to 2020, Texas’s rental vacancy rate declined 35.3%.
- 36.4% of Texas households do not own their homes as of 2023.
- Homeowner vacancy in Texas was 1.3% in 2023, up 62.5% YoY.
- Houston-The Woodlands-Sugar Land has a vacancy rate of 10.9%, up 22.5% YoY.
- The Dallas-Ft. Worth-Arlington metropolitan area has a vacancy rate of 8.4%, up 23.5% YoY.
- San Antonio-New Braunfels has 8.8% rental vacancy, up 8.64% YoY.
- Austin-Round Rock has 9.0% rental vacancy, up 60.7% YoY.
Utah’s Rental Vacancy Rate
The statewide rental vacancy rate in Utah was 5.3% in 2023; that’s 18.46% below the national average.
- Utah rental vacancy increased 17.8% from 2022 to 2023.
- Rental vacancy in Utah increased 2.27% in 2021 after a 17.0% decline in 2020.
- From 2010 to 2020, Utah’s rental vacancy rate declined 26.4%.
- 29.7% of Utah households do not own their homes as of 2023.
- Homeowner vacancy in Utah was 0.7% in 2023, up 40.0% YoY.
- Salt Lake City has a 6.2% rental vacancy rate, down 34.8% YoY.
Vermont’s Rental Vacancy Rate
The statewide rental vacancy rate in Vermont was 3.5% in 2023; that’s 46.15% below the national average.
- Vermont rental vacancy in 2023 was the same as it was in 2022.
- Rental vacancy in Vermont increased 40.0% in 2021 after a 24.2% decline in 2020.
- From 2010 to 2020, Vermont’s rental vacancy rate decreased 45.9%.
- 26.3% of Vermont households do not own their homes as of 2023.
- The homeowner vacancy rate in Vermont was 0.3% in 2023, down 57.1% YoY.
- The Burlington-South Burlington metropolitan area has a 1.9% multifamily rental vacancy rate in 2023Q4, down 5.00% YoY.
Virginia’s Rental Vacancy Rate
The statewide rental vacancy rate in Virginia was 4.9% in 2023; that’s 24.6% below the national average.
- Virginia rental vacancy in 2023 was the same as it was in 2022.
- Rental vacancy in Virginia declined 9.26% in 2021 following a 16.9% decline in 2020.
- From 2010 to 2020, Virginia’s rental vacancy rate declined 38.1%.
- 30.9% of Virginia households do not own their homes as of 2023.
- Homeowner vacancy in Virginia was 0.6% in 2023, down 14.3% from the previous quarter.
- The Arlington-Alexandria-Washington, D.C. metropolitan area has a 5.5% rental vacancy rate, up 3.77% YoY.
- Richmond has 5.2% rental vacancy, up 73.3% YoY.
- Virginia Beach-Northfolk-Newport News has 5.1% rental vacancy, down 19.05% YoY.
Washington’s Rental Vacancy Rate
The statewide rental vacancy rate in Washington was 4.2% in 2023; that’s 35.4% below the national average.
- Washington rental vacancy declined 10.64% from 2022 to 2023.
- Rental vacancy in Washington increased 4.44% in 2021 following 18.4% growth in 2020.
- From 2010 to 2020, Washington’s rental vacancy rate decreased 45.7%.
- 33.7% of Washington households do not own their homes as of 2023.
- Homeowner vacancy in Washington was 0.7% in 2023, with no change YoY.
- The Seattle-Tacoma-Bellevue metropolitan area has a 4.0% rental vacancy rate, down 18.4% YoY.
West Virginia’s Rental Vacancy Rate
The statewide rental vacancy rate in West Virginia was 7.1% in 2023; that’s 9.23% above the national average.
- West Virginia rental vacancy declined 12.35% from 2022 to 2023.
- Rental vacancy in West Virginia increased 24.6% in 2021 after 0.0% growth in 2020.
- From 2010 to 2020, West Virginia’s rental vacancy rate decreased 20.7%.
- 23.0% of West Virginia households do not own their homes as of 2023.
- Homeowner vacancy in West Virginia was 0.9% in 2023, up 12.5% YoY.
- The Charleston metropolitan area had a multifamily vacancy rate of 12.0% in 2023, up 36.36% YoY.
Wisconsin’s Rental Vacancy Rate
The statewide rental vacancy rate in Wisconsin was 5.1% in 2023; that’s 21.54% below the national average.
- Wisconsin rental vacancy increased 10.9% from 2022 to 2023.
- Rental vacancy in Wisconsin declined 2.13% in 2021 after 9.30% growth in 2020.
- From 2010 to 2020, Wisconsin’s rental vacancy rate decreased 50.0%.
- 30.8% of Wisconsin households do not own their homes as of 2023.
- Homeowner vacancy in Wisconsin was 0.5% in 2023, up 25.0% YoY.
- The Milwaukee-Waukesha-West Allis metropolitan area has a 4.1% rental vacancy rate, down 30.5% YoY.
Wyoming’s Rental Vacancy Rate
The statewide rental vacancy rate in Wyoming was 4.4% in 2023; that’s 32.3% below the national average.
- Wyoming rental vacancy declined 38.9% from 2022 to 2023.
- Rental vacancy in Wyoming declined 10.0% in 2021 following a 14.9% decline in 2020.
- From 2010 to 2020, Wyoming’s rental vacancy rate increased 13.25%.
- 25.5% of Wyoming households do not own their homes as of 2023.
- Homeowner vacancy in Wyoming was 0.9% in 2023, up 12.5% YoY.
- The Cheyanne metropolitan area had a multifamily rental vacancy rate of 2.9% in 2022Q1, up 93.3% YoY.
| Metropolitan Area | 2023 Vacancy Rate | Change from 2022 |
|---|---|---|
| New York, NY | 3.9% | 11.43% |
| Los Angeles, CA | 4.0% | -2.44% |
| Chicago, Illinois | 5.6% | -8.20% |
| Houston, Texas | 10.9% | 22.47% |
| Phoenix, AZ | 8.0% | 25.00% |
| Philadelphia, PA | 5.2% | 23.81% |
| San Antonio, TX | 8.8% | 8.64% |
| San Diego, CA | 4.1% | 13.89% |
| Dallas, TX | 8.4% | 23.53% |
| Austin, TX | 9.0% | 60.71% |
Local Rental Vacancy Rates
While the largest cities saw significant declines in rentership throughout the pandemic; many urban centers have rebounded.
- In 2023, Worcester, Massachusetts has the lowest rental vacancy rate (1.9%, up 18.75% YoY) among the 75 most-populated metropolitan statistical areas.
- Cape Coral-Fort Myers, Florida has the highest vacancy rate among the same set of cities at 15.3%, up 31.90% YoY.
- Houston, Texas has a 10.9% rental vacancy rate (up 22.47% YoY), which is the highest vacancy rate among major cities where the population exceeds one (1) million.
- Among the 75 most-populated cities, 69.33% saw increased rental vacancy YoY while 28.00% 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 31.2%.
- In major cities with decreased vacancy rates, the average 12-month decline is 21.75%.
| Metropolitan Area | 2023 Vacancy Rate | Change from 2022 |
|---|---|---|
| Worcester, MA | 1.9% | 18.75% |
| Rochester, NY | 2.0% | -60.00% |
| Boston-Cambridge-Newton, MA | 2.5% | 0.00% |
| Bridgeport-Stamford-Norwalk, CT | 3.0% | 25.00% |
| Grand Rapids-Wyoming, MI | 3.2% | 33.33% |
| San Jose-Sunnyvale-Santa Clara, CA | 3.3% | -29.79% |
| New Haven-Milford, CT | 3.3% | 26.92% |
| Fresno, CA | 3.4% | 36.99% |
| Louisville, KY | 3.6% | -32.08% |
| Providence, RI | 3.7% | -17.78% |
Unit Rental Vacancy Rates
Certain types of buildings or rental unit structures are more likely to have high vacancy rates. Highrise structures with many small units built after March 2010 are the most likely to have high rental vacancy rates.
- Single family homes had a rental vacancy rate of 5.6% in 2023.
- Structures of 10 units or more averaged 8.1% vacancy in 2023.
- Apartments with 6 or more rooms had a 2023 vacancy rate of 5.1%.
- Efficiencies and 1-bedroom apartments had the highest vacancy rate in 2023Q3 at 29.2%.
- Units in structures built after March 2010 had a 12.5% rental vacancy rate in 2023.
- Units built prior to 1940 had the lowest rental vacancy rates in 2023 at 5.0%.
| Metropolitan Area | 2023 Vacancy Rate | Change from 2022 |
|---|---|---|
| Cape Coral-Fort Myers, FL | 15.3% | 13.90% |
| Birmingham-Hoover, AL | 12.2% | -3.94% |
| Charleston-North Charleston, SC | 12.0% | 36.36% |
| Memphis, TN | 11.4% | 78.13% |
| Houston, Texas | 10.9% | 22.47% |
| Little Rock, AR | 10.8% | -5.26% |
| Oklahoma City, OK | 10.6% | 0.00% |
| Tuscon, AZ | 10.2% | 27.50% |
| Buffalo, NY | 9.7% | 36.62% |
| Jacksonville, FL | 9.4% | 51.61% |
Rent Prices & Vacancy Rates
As a general rule, rent prices increase as vacancy rates decrease. As empty units diminish, finding an apartment becomes more difficult, and property owners are able to ask for higher prices.
- According to federal data, the median asking rent for vacant units nationwide is $1,469 as of March 31, 2024, up 0.48% YoY.
- Commercial real estate marketing website Redfin reports a median rent of $1,987 as of March 2024, up 0.8% YoY.
- According to Zillow’s methodology, typical monthly rent prices were $1,983 in March 2024, up 3.6% YoY.
- Federal reports indicate units that rent for less than $500 have an average vacancy rate of 2.0% in 2023, down 16.7% YoY.
- Units with monthly rent prices of $4,000 or more had 13.5% vacancy; this is considered excessive or high vacancy.
Historical Rental Vacancy
The national vacancy rate is 1.61% higher than it was in 1956Q1.
- From 2010 to 2020, rental vacancy rates declined 39.6% or at an annual rate of 3.96%.
- The steepest decline in rental vacancy was between 1965 and 1971, when rates declined 37.6% or at an annual rate of 6.27%.
- The steepest incline in rental vacancy was between 1957 and 1961, when rates increased 68.9% or at an annual rate of 17%.
- 1978 to 1988, rental vacancy rates rose 60%, or at an annual rate of 6.0%.
- From 2000 to 2004, vacancy rates rose 31.6% or annual rate of 7.9%.
- From 2005 to 2010, housing vacancies overall increased 26.3%.
Excessive Vacancies
Consequences of the COVID-19 pandemic include changes in desirable housing characteristics. Localities expecting continued growth are full of new vacancies, leading some communities to experience excessive rental vacancy rates or “hypervacancy”.
- A rental vacancy rate of 12% or more is considered “high”; a vacancy rate of 20% or more is hypervacancy.
- In 2023, three (3) of the 75 largest metropolitan rental markets had high vacancy rates:
- Cape Coral-Fort Myers, Florida (15.3%)
- Birmingham-Hoover, Alabama (12.2%)
- Charleston, South Carolina (12.0%)
- With a 26.8% vacancy rate, Charleston, South Carolina experienced exceptionally high hypervacancy in the second quarter of 2020.
- In Philadelphia, vacant properties resulted in $3.6 billion in reduced household wealth.
- The effect of one vacant property on the block could reduce the value of nearby properties by 20% or more.
Homeowner Vacancies
Owner-occupied homes see lower vacancy rates on average than rentals do. In 2023, the homeowner vacancy rate was 0.8%.
- From 2010 to 2020, housing vacancies declined 61.5%.
- Housing vacancies declined 75.0% between their historic high point in 2008 (2.9%) and 2023.
- The national rate of homeownership was 65.9% in 2023.
- The Midwest had the highest rate of homeownership at 70.0%.
- From 2022 to 2023, homeownership increased 0.15%.
- 2020 saw the largest year-over-year increase in homeownership on record at 3.1% (from 64.6% in 2019 to 66.6% in 2020).
- Homeownership declined every year between 2005 (69.0%) and 2017 (63.9%) for a total decline of 7.39%.
- In 2016, homeownership hit its lowest point in 50 years (63.4%).
Sources
- United States Census Bureau (Census), Housing Vacancies and Homeownership
- National Association of Realtors, Commercial Real Estate Metro Market Reports
- Keller Williams Realty Boise, Boise Rental Market & Vacancy Rates
- Census, Population and Housing Unit Estimates
- Redfin News, Housing Market News: Rental Tracker
- Zillow Research, Renting Archives
- The Empty House Next Door: Understanding and Reducing Vacancy and Hypervacancy in the United States
- Alaska Department of Labor and Workforce Development, Research and Analysis: Alaska Rental Costs and Vacancy Rates
