Rental vacancy rates across the United States showed significant regional differences in 2024, 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.

Graph and download economic data for Rental Vacancy Rate in the United States (RRVRUSQ156N) from Q1 1956 to Q2 2025 about vacancy, rent, rate, and USA.

The rental vacancy rate represents the percentage of US residential rental properties that are without tenants. The rate is positively correlated with homeownership rates, and a high vacancy rate is indicative of low demand for renting. Data is sourced from the US Census Bureau's Housing Vacancy Survey.

Almost two years after the start of the coronavirus (COVID-19) pandemic, the occupancy rate of rental properties around college campuses in the United States has not fully recovered. In the period between 2014 and 2019, the average occupancy rate for properties within *** mile reach of the campus was close to ** percent, while in 2020 and 2021, it was about ** percent. For properties further away from the campus, the occupancy rate was even lower.

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

In June 2025, the Australian city of Melbourne had a rental property vacancy rate of *** percent. In contrast, the rental property vacancy rate in Darwin was estimated at *** percent in the same month.

The U.S. multifamily vacancy rate increased slightly in 2023, after reaching one of the lowest levels on record in 2022. Approximately *** 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 ***** square feet. Popularity among investors Multifamily housing accounted for almost ** 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.

In 2023, the rental market in Canada saw the lowest vacancy rate for rental apartments during the observed period. Approximately 1.5 percent of apartments were unoccupied in 2023, down from 1.9 percent the year below. Saskatchewan was the province with the highest vacancy rate, whereas Prince Edward Island and Nova Scotia had the lowest share of unoccupied apartments.

Revenue for apartment lessors has expanded through the end of 2025. Apartment lessors collect rental income from rental properties, where market forces largely determine their rates. The supply of apartment rentals has grown more slowly than demand, which has elevated rental rates for lessors' benefit. As the Federal Reserve hiked interest rates 11 times between March 2022 and January 2024, homeownership was pushed beyond the reach of many, resulting in a tighter supply and increased demand for rental properties. Despite three interest rate cuts in 2024, mortgage rates have remained stubbornly high in 2025, encouraging consumers to rent. Revenue has climbed at a CAGR of 2.6% over the past five years and is expected to reach $295.3 billion by the end of 2025. This includes an anticipated 1.4% gain in 2025 alone. The increasing unaffordability of housing is caused by the steady climb of mortgage rates and high prices maintained by a low supply. Supply has been held down as buyers who locked in low rates stay put, and investment groups hold a strategic number of their properties empty as investments. Industry profit has remained elevated because of solid demand for apartment rentals. Through the end of 2030, the apartment rental industry's future performance will be shaped by varying factors. The apartment supply in the US, which hit a record in 2024, is expected to taper off, which will push rental prices and occupancy rates up to the lessors' benefit. Other factors, such as interest rate cuts, decreasing financial barriers to homeownership and a high rate of urbanization, will also significantly impact the industry. With an estimated 80.7% of the US population living in urban areas, demand for apartment rentals will strengthen, although rising rental prices could force potential renters to cheaper suburbs. Demand will continue to outpace supply growth, prompting a climb in revenue. Revenue is expected to swell at a CAGR of 1.7% over the next five years, reaching an estimated $321.9 billion in 2030.

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.

The vacancy rate of office real estate in the United States was higher than of any other property type in 2025. In the first quarter of the year, approximately ** percent of office real estate was vacant, compared to **** percent of multifamily. Shopping centers and industrial property had the lowest vacancy rates, at *** percent and ***** percent, respectively.

This table contains data described by the following dimensions (Not all combinations are available): Geography (37 items: Census metropolitan areas; Saguenay; Quebec; Edmonton; Alberta; Calgary; Alberta ...).

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

SOURCEFNSB Community Research Center Rental Survey, 1995 - 2019.FNSB Community Planning Rental Survey, 2020 -NOTEVacancy rates are based on a sample of 3,000 to 4,000 rental units and include data for apartments, duplexes, tri-plexes and larger multi-plex rental properties. They do not include single-family houses, mobile homes or cabins.Possible influences that could affect the vacancy rate include military deployment, housing additions on military bases and population shifts (moving / migration).Changes in seasonal apartment availability may also factor into the Fall and Winter figures.Starting March 2020 data could show fluctuations due to the COVID-19 pandemic, State of Alaska mandates, shut downs & supply chain interruptions.Data is subject to revision.

The Annual Rental Facility Occupancy Survey is conducted from April 1-30 each year and tracks vacancies, turnover rates, average rents, and amenities. Facilities located within Montgomery County's unincorporated areas as well as the municipalities of Rockville, Gaithersburg, and Takoma Park participate in the survey. This dataset includes the average reported rent by bedroom count for each community surveyed.

--- DATASET OVERVIEW --- This dataset captures detailed performance data for individual vacation rental properties, providing a complete picture of operational success metrics across different timeframes and market conditions. With weekly updates and four years of historical data, it enables both point-in-time analysis and long-term trend identification for property-level performance.

The data is derived from OTA platforms using advanced methodologies that capture listing, calendar and quote details. Our algorithms process this raw information to produce standardized and enriched performance metrics that facilitate accurate comparison across different property types, locations, and time periods. By leveraging our other datasets and machine learning models, we are able to accurately detect guest bookings, revenue generation, and occupancy patterns.

--- KEY DATA ELEMENTS --- Our dataset includes the following core performance metrics for each property: - Property Identifiers: Unique identifiers for each property with OTA-specific IDs - Geographic Information: Location data including neighborhood, city, region, and country - Property Characteristics: Property type, bedroom count, bathroom count, and capacity - Occupancy Metrics: Daily, weekly, and monthly occupancy rates based on actual bookings - Revenue Generation: Total revenue, average daily rate (ADR), and revenue per available day (RevPAR) - Booking Patterns: Lead time distribution, length of stay patterns, and booking frequency - Seasonality Indicators: Performance variations across seasons, months, and days of week - Competitive Positioning: Performance relative to similar properties in the same market - Historical and Forward Looking Trends: Year-over-year and month-over-month performance changes

--- USE CASES --- Property Performance Optimization: Property managers can leverage this dataset to evaluate the performance of individual listings against market benchmarks. By identifying properties that underperform relative to similar listings in the same area, managers can implement targeted improvements to pricing strategies, property amenities, or marketing approaches. The granular performance data enables precise identification of specific improvement opportunities at the individual property level.

Competitive Benchmarking: Property owners and managers can benchmark their listings against competitors with similar characteristics in the same market. The property-level performance metrics enable detailed comparison of occupancy rates, ADR, and revenue generation across comparable properties. This competitive intelligence helps identify realistic performance targets and market positioning opportunities.

Portfolio Optimization: Vacation rental portfolio managers can analyze performance variations across different property types and locations to optimize investment and management decisions. The dataset supports identification of high-performing property configurations and locations, enabling strategic portfolio development based on actual performance data rather than assumptions.

Seasonal Strategy Development: The historical performance data across different seasons enables development of targeted seasonal strategies. Property managers can analyze how different property types perform during specific seasons or events, informing marketing focus, pricing adjustments, and operational planning throughout the year.

Performance Forecasting: Historical performance patterns can be leveraged to develop accurate forecasts for future periods. By analyzing year-over-year trends and seasonal patterns, property managers can anticipate performance expectations and set realistic targets for occupancy and revenue generation.

--- ADDITIONAL DATASET INFORMATION --- Delivery Details: • Delivery Frequency: daily | weekly | monthly | quarterly | annually • Delivery Method: scheduled file loads • File Formats: csv | parquet • Large File Format: partitioned parquet • Delivery Channels: Google Cloud | Amazon S3 | Azure Blob • Data Refreshes: daily

Dataset Options: • Coverage: Global (most countries) • Historic Data: Available (2021 for most areas) • Future Looking Data: Available (Current date + 180 days+) • Point-in-Time: Available (with weekly as of dates) • Aggregation and Filtering Options: • Area/Market • Time Scales (daily, weekly, monthly) • Listing Source • Property Characteristics (property types, bedroom counts, amenities, etc.) • Management Practices (professionally managed, by owner)

Contact us to learn about all options.

--- DATA QUALITY AND PROCESSING --- Our data processing methodology ensures high-quality, reliable performance metrics that accurately represent actual property performance. The raw booking and revenue data undergoes extensive validation and normalization processes to address inconsistencies, identify anomalies, and ensure comparability across different pro...

What is Rental Data?

Rental data encompasses detailed information about residential rental properties, including single-family homes, multifamily units, and large apartment complexes. This data often includes key metrics such as rental prices, occupancy rates, property amenities, and detailed property descriptions. Advanced rental datasets integrate listings directly sourced from property management software systems, ensuring real-time accuracy and eliminating reliance on outdated or scraped information.

Additional Rental Data Details

The rental data is sourced from over 20,000 property managers via direct feeds and property management platforms, covering over 30 percent of the national rental housing market for diverse and broad representation. Real-time updates ensure data remains current, while verified listings enhance accuracy, avoiding errors typical of survey-based or scraped datasets. The dataset includes 14+ million rental units with detailed descriptions, rich photography, and amenities, offering address-level granularity for precise market analysis. Its extensive coverage of small multifamily and single-family rentals sets it apart from competitors focused on premium multifamily properties.

Rental Data Includes:

• Property Types
• Single-Family Rentals
• Small Multi-family Units
• Premium Apartments
• 16,000+ ZIP Codes
• 800+ MSAs
• Pricing Trends
• Lease Terms Amenities

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.

Property managers are hired to oversee operations for apartment complexes and other rental sites. In recent years, the property management industry has seen an oversupply of high-end apartments, leading to heightened competition among property managers and slower lease-ups. This has resulted in downward pressure on rent growth and flattened or declining rents in certain regions. In the office space sector, elevated interest rates have significantly decreased new office construction. Limited new stock increases the appeal of prime buildings and gives owners a strong negotiating position, leading to rent gains for Class A buildings. Demand for apartments has remained robust, as climbing home prices and elevated mortgage rates have made home ownership unaffordable for many households. Through the end of 2025, industry revenue has climbed at a CAGR of 1.9% to $134.2 billion, including a boost of 1.9% in 2025 alone. The gain of short-term rental platforms like Airbnb and VRBO has revolutionized the rental market, with property management firms adapting their services to accommodate these changes. However, persistent inflation and high interest rates present operational challenges for the industry and may strengthen costs. Property managers adopt various strategies to offset these expenses, such as adjusting rents, optimizing costs, streamlining operations through software and technology and renegotiating contracts for fixed-rate agreements. Through the end of 2030, housing affordability issues and slow construction activity will continue to boost the residential property management sector. E-commerce growth will stimulate demand in retail property management, with property managers needing to offer more flexible lease agreements adapted to omnichannel retail strategies. Technological advancements will be pivotal in the industry: AI, predictive tools and digital lease management platforms can streamline operations, improve efficiency and offer valuable insights through data analysis. While adopting these technologies may involve upfront costs, they will likely lead to long-term savings and positive transformations within the industry. Altogether, revenue will climb at a CAGR of 1.8% to reach $146.9 billion in 2030.

In February 2025, the Australian city of Melbourne had a residential rental property vacancy rate of around *** percent. The February residential rental property vacancy rate in Melbourne reached a high of *** percent in 2021.