Rental Vacancy Rates
Rental vacancy rates in the US have declined significantly since the recession, driven by a steady increase in the size of the renter population. The US rental vacancy rate was 7.0% in Q4 of 2015 (4.1% lower than the most recent peak in 2009), which has driven up rents in many cities and states across the country.
The states with the lowest vacancy rates in Q4 of 2015 were:
- Vermont (2.9%)
- Oregon (3.5%)
- Washington (3.8%)
Among large metropolitan areas in the US, some of the most supply-constrained were:
- Portland (2.4%)
- Los Angeles (2.7%)
- Austin (3.4%)
- San Francisco (3.5%)
- Seattle (3.9%)
We'll dig into the data and release our a fuller report next week, but for now, here is vacancy data for 50 states and 75 metropolitan statistical areas.
|District of Columbia||State||2015||4||5.7%|