The vacancy rate for rental apartments in the United States fell to about 3.8 percent in October 2021, followed by a steady increase until 2025. In January that year, the vacancy index stood at 6.85 percent.

Graph and download economic data for Rental Vacancy Rate for the United States from 1986 to 2024 about vacancy, rent, rate, and USA.

Rental vacancy rates across the United States showed significant regional differences in 2023, with the South experiencing the highest rate at 8.7 percent. This disparity reflects broader demographic shifts and economic factors influencing the rental market. The regional variations in vacancy rates have persisted despite an overall decline since 2014, highlighting the complex dynamics of the U.S. housing landscape. Rental demand and affordability challenges The rental market continues to face pressure from high demand, particularly among younger demographics. People under 30 comprise the largest share of American renters, with approximately 42 million in this age group. Despite softening rents in some areas, affordability remains a significant issue. In 2023, 42.5 percent of renters paid gross rent exceeding 35 percent of their income, indicating widespread financial strain among tenants. Regional disparities and market trends The Northeast and West regions, which include many large urban areas, have consistently lower vacancy rates compared to the Midwest and South. This trend aligns with population shifts towards these regions, fueling higher home prices growth. The rental market has shown signs of stabilization in 2023, with the number of vacant homes for rent slightly picking up after two years of record-low vacancy.

The U.S. multifamily vacancy rate increased slightly in 2023, after reaching one of the lowest levels on record in 2022. Approximately 6.6 percent of multifamily homes were vacant in the fourth quarter of 2023. Despite the increase, this figure was notably lower than the long-term historical average. U.S. multifamily housing sector Multifamily housing, refers to a housing type where multiple apartments are contained within one housing unit, or when several buildings form a larger complex. Construction of such houses has been on the rise, as the industry struggles to meet housing demand. The average size of such a housing unit was 1,046 square feet. Popularity among investors Multifamily housing accounted for almost 15 percent of the housing stock in the United States in 2021. This type of real estate is popular among investors because it tends to generate a steady cash flow, and be easy to obtain financing for.

United States Housing Vacancy Rate: Rental data was reported at 6.800 % in Jun 2018. This records a decrease from the previous number of 7.000 % for Mar 2018. United States Housing Vacancy Rate: Rental data is updated quarterly, averaging 7.400 % from Mar 1956 (Median) to Jun 2018, with 250 observations. The data reached an all-time high of 11.100 % in Sep 2009 and a record low of 5.000 % in Dec 1981. United States Housing Vacancy Rate: Rental data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

Graph and download economic data for Rental Vacancy Rate for Colorado (CORVAC) from 1986 to 2024 about vacancy, rent, CO, rate, and USA.

Graph and download economic data for Home Vacancy Rate for the United States (USHVAC) from 1986 to 2024 about vacancy, housing, rate, and USA.

The average occupancy rate in off-campus purpose-built student housing in the United States declined by 1.7 percentage points in 2023. In that year, the share of student housing that was occupied was 94.1 percent, down from 95.8 percent a year ago. Occupancy was at its lowest level in 2022 when the COVID-19 pandemic broke out.

Graph and download economic data for Rental Vacancy Rate for Virginia (VARVAC) from 1986 to 2024 about vacancy, rent, VA, rate, and USA.

United States Housing Vacancy Rate: Rental: West data was reported at 5.100 % in Jun 2018. This records a decrease from the previous number of 5.200 % for Mar 2018. United States Housing Vacancy Rate: Rental: West data is updated quarterly, averaging 6.800 % from Mar 1956 (Median) to Jun 2018, with 250 observations. The data reached an all-time high of 12.600 % in Jun 1965 and a record low of 4.200 % in Dec 2016. United States Housing Vacancy Rate: Rental: West data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

South Dakota was the U.S. state with the highest vacancy rate index in January 2025. Conversely, New Jersey, New York, and Illinois had the lowest vacancy rate index during that period. All three states had an index value of under five percent. Overall, apartment vacancies in the U.S. have increased since 2021, due to the increase in new supply.

United States Housing Vacancy Rate: Homeowner: North East data was reported at 1.600 % in Jun 2018. This records an increase from the previous number of 1.300 % for Mar 2018. United States Housing Vacancy Rate: Homeowner: North East data is updated quarterly, averaging 1.150 % from Mar 1956 (Median) to Jun 2018, with 250 observations. The data reached an all-time high of 2.300 % in Jun 2011 and a record low of 0.400 % in Mar 1972. United States Housing Vacancy Rate: Homeowner: North East data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

Graph and download economic data for Rental Vacancy Rate for California (CARVAC) from 1986 to 2024 about vacancy, rent, CA, rate, and USA.

United States Housing Vacancy Rate: Rental: Outside Central City Areas data was reported at 6.200 % in Jun 2018. This records a decrease from the previous number of 6.500 % for Mar 2018. United States Housing Vacancy Rate: Rental: Outside Central City Areas data is updated quarterly, averaging 6.600 % from Mar 1965 (Median) to Jun 2018, with 209 observations. The data reached an all-time high of 11.200 % in Sep 2009 and a record low of 3.500 % in Dec 1969. United States Housing Vacancy Rate: Rental: Outside Central City Areas data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

United States Housing Vacancy Rate: By Structure: Homeowner: 1 Unit data was reported at 1.300 % in Jun 2018. This stayed constant from the previous number of 1.300 % for Mar 2018. United States Housing Vacancy Rate: By Structure: Homeowner: 1 Unit data is updated quarterly, averaging 1.400 % from Mar 1968 (Median) to Jun 2018, with 202 observations. The data reached an all-time high of 2.600 % in Mar 2008 and a record low of 0.600 % in Mar 1979. United States Housing Vacancy Rate: By Structure: Homeowner: 1 Unit data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

The homeowner vacancy rate in the United States reached its lowest value in 2022, followed by an uptick in 2023. The rate shows what share of owner-occupied housing units were vacant and for sale. That figure peaked in 2008, when nearly three percent of homes were vacant, and gradually fell below one percent after the 2020 housing boom. Homeownership is a form of living arrangement where the owner of the inhabited property, whether apartment, house, or type of real estate, lives on the premises. Due to usually high costs associated with owning a property and perceived advantages or disadvantages associated with such a long-term investment, homeownership rates differ greatly around the world, based on both cultural and economic factors. In Europe, Romania is the country with the highest rate of homeownership, while the lowest homeownership rate was observed in Switzerland. Homeownership attitude in the U.S. Individuals may have very different opportunities or inclination to become homeowners based on nationality, age, financial status, social status, occupation, marital status, education or even ethnicity and whether one is local-born or foreign-born. In 2023, the homeownership rate among older Americans was higher than for younger Americans. In the U.S., homeownership is generally believed to be a good investment, in terms of security (no risk of eviction) and financial aspect (owning a valuable real estate property). In 2023, there were approximately 86 million owner-occupied housing units, a stark increase compared to four decades prior. Why is homeownership sentiment low? The housing market has been suffering chronic undersupply, leading to a surge in prices and eroding affordability. In 2023, the housing affordability index plummeted, reflecting the growing challenge that homeowners face when looking for property. Insufficient income, savings, and high home prices are some of the major obstacles that come in the way of a property purchase. Though affordability varied widely across different metros, just about 15 percent of U.S. renters could afford to buy the median priced home in their area.

Rental Vacancy Rate for Rhode Island was 2.60% in January of 2024, according to the United States Federal Reserve. Historically, Rental Vacancy Rate for Rhode Island reached a record high of 9.60 in January of 1990 and a record low of 2.60 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for Rental Vacancy Rate for Rhode Island - last updated from the United States Federal Reserve on March of 2025.

This layer shows housing occupancy, tenure, and median rent/housing value. This is shown by tract, county, and state boundaries. This service is updated annually to contain the most currently released American Community Survey (ACS) 5-year data, and contains estimates and margins of error. There are also additional calculated attributes related to this topic, which can be mapped or used within analysis. Homeownership rate on Census Bureau's website is owner-occupied housing unit rate (called B25003_calc_pctOwnE in this layer). This layer is symbolized by the overall homeownership rate. To see the full list of attributes available in this service, go to the "Data" tab, and choose "Fields" at the top right. Current Vintage: 2019-2023ACS Table(s): B25002, B25003, B25058, B25077, B25057, B25059, B25076, B25078Data downloaded from: Census Bureau's API for American Community Survey Date of API call: December 12, 2024National Figures: data.census.govThe United States Census Bureau's American Community Survey (ACS):About the SurveyGeography & ACSTechnical DocumentationNews & UpdatesThis ready-to-use layer can be used within ArcGIS Pro, ArcGIS Online, its configurable apps, dashboards, Story Maps, custom apps, and mobile apps. Data can also be exported for offline workflows. For more information about ACS layers, visit the FAQ. Please cite the Census and ACS when using this data.Data Note from the Census:Data are based on a sample and are subject to sampling variability. The degree of uncertainty for an estimate arising from sampling variability is represented through the use of a margin of error. The value shown here is the 90 percent margin of error. The margin of error can be interpreted as providing a 90 percent probability that the interval defined by the estimate minus the margin of error and the estimate plus the margin of error (the lower and upper confidence bounds) contains the true value. In addition to sampling variability, the ACS estimates are subject to nonsampling error (for a discussion of nonsampling variability, see Accuracy of the Data). The effect of nonsampling error is not represented in these tables.Data Processing Notes:This layer is updated automatically when the most current vintage of ACS data is released each year, usually in December. The layer always contains the latest available ACS 5-year estimates. It is updated annually within days of the Census Bureau's release schedule. Click here to learn more about ACS data releases.Boundaries come from the US Census TIGER geodatabases, specifically, the National Sub-State Geography Database (named tlgdb_(year)_a_us_substategeo.gdb). Boundaries are updated at the same time as the data updates (annually), and the boundary vintage appropriately matches the data vintage as specified by the Census. These are Census boundaries with water and/or coastlines erased for cartographic and mapping purposes. For census tracts, the water cutouts are derived from a subset of the 2020 Areal Hydrography boundaries offered by TIGER. Water bodies and rivers which are 50 million square meters or larger (mid to large sized water bodies) are erased from the tract level boundaries, as well as additional important features. For state and county boundaries, the water and coastlines are derived from the coastlines of the 2023 500k TIGER Cartographic Boundary Shapefiles. These are erased to more accurately portray the coastlines and Great Lakes. The original AWATER and ALAND fields are still available as attributes within the data table (units are square meters).The States layer contains 52 records - all US states, Washington D.C., and Puerto RicoCensus tracts with no population that occur in areas of water, such as oceans, are removed from this data service (Census Tracts beginning with 99).Percentages and derived counts, and associated margins of error, are calculated values (that can be identified by the "_calc_" stub in the field name), and abide by the specifications defined by the American Community Survey.Field alias names were created based on the Table Shells file available from the American Community Survey Summary File Documentation page.Negative values (e.g., -4444...) have been set to null, with the exception of -5555... which has been set to zero. These negative values exist in the raw API data to indicate the following situations:The margin of error column indicates that either no sample observations or too few sample observations were available to compute a standard error and thus the margin of error. A statistical test is not appropriate.Either no sample observations or too few sample observations were available to compute an estimate, or a ratio of medians cannot be calculated because one or both of the median estimates falls in the lowest interval or upper interval of an open-ended distribution.The median falls in the lowest interval of an open-ended distribution, or in the upper interval of an open-ended distribution. A statistical test is not appropriate.The estimate is controlled. A statistical test for sampling variability is not appropriate.The data for this geographic area cannot be displayed because the number of sample cases is too small.

Graph and download economic data for Rental Vacancy Rate for New Jersey (NJRVAC) from 1986 to 2024 about vacancy, NJ, rent, rate, and USA.

Rental Vacancy Rate for Indiana was 9.90% in January of 2024, according to the United States Federal Reserve. Historically, Rental Vacancy Rate for Indiana reached a record high of 14.80 in January of 2008 and a record low of 5.00 in January of 1994. Trading Economics provides the current actual value, an historical data chart and related indicators for Rental Vacancy Rate for Indiana - last updated from the United States Federal Reserve on March of 2025.