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

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 the second quarter of 2024, the vacancy rate for multifamily real estate in ** markets stood below **** percent. While the average for the country amounted to *** percent, in New York, this figure stood at *** percent. The average vacancy rate in the multifamily sector dipped in 2021 and 2022, but has since gradually increased.

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

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.

In 2024, the average rent for rental apartments increased in ** of the ** U.S. metropolitan areas with the largest populations. Providence-Warwick, RI-MA was the metro with the highest rental growth, an annual increase of **** percent as of April that year. Conversely, Austin-Round Rock-Georgetown, TX experienced the highest decline in rents, at **** percent.

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

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.

Displacement risk indicator classifying community reporting areas according to apartment vacancy rates. Vacancy rates are calculated at the Community Reporting Area level, which are a combination of one or more census tracts. We visualize them as census tracts here, but columns should not be summed to make a total. We include both vacancy rates and change in year over year vacancy rates.

The rental vacancy rate represents the average number of residential rental units available per multifamily complex. 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 Canada Mortgage and Housing Corporation's Rental Market Survey.

The Department of Housing and Urban Development (HUD) identifies low-vacancy areas for purposes of funding the Tenant-Protection Vouchers (TPVs) set-aside for certain at-risk households in low-vacancy areas. The Department has set low-vacancy areas at the county level as described in the “Definitions and Methodology” section below.HUD will publish updated low-vacancy areas annually. Low-vacancy lists will be effective for one year, from July 1-June 30. The county where the project is located must be listed in the low-vacancy list in effect as of the date of application submission to be eligible for TPV set-aside funding. Applicants may find more information about the TPV set-aside process and requirements at Notice PIH 2019-01/H 2019-02. As indicated by HUD in Notice PIH 2022-14, Notice PIH 2019-01/H2019-02 continues to apply.Definitions and MethodologyLow-vacancy areas are set at the county level using occupancy rates for public housing and multifamily assisted properties. Occupancy data at the project level are obtained from the most recent Picture of Subsidized Households Report (https://www.huduser.gov/portal/datasets/assthsg.html). To ensure that vacancy rates are only counted for high quality units, the occupancy data is matched to the most recent Physical Inspection Scores data (https://www.huduser.gov/portal/datasets/pis.html) for both public housing and multifamily assisted properties. Properties with inspection scores below 60 are removed from the sample, as are properties that are missing inspection scores or occupancy rates.Project-level data is aggregated to the county level, and the total occupancy rate for each county is calculated. County-level occupancy rates are used for the determination of eligibility for TPV set-aside funding as long as at least ten units of public housing and multifamily assisted housing are included in the dataset. If a county within a Core-Based Statistical Area (CBSA) has less than ten units, the CBSA-level occupancy rate is used. For counties outside of CBSAs with less than ten units, state non-CBSA totals are used to calculate occupancy rates, while the national non-CBSA occupancy rate is used for counties in states with only CBSA counties or a state non-CBSA unit count below ten.For the purposes of the TPV set-aside, a low-vacancy area is defined to be an area with an occupancy rate for public housing and multifamily assisted properties greater than or equal to 90 percent.

Note: Vacancy rate calculations include market-rate and mixed-income multifamily apartment properties with 5 or more rental units in Seattle, excluding special types like student, senior, corporate or military housing.

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.

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

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

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 slower 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 high, further encouraging consumers to rent. Revenue has climbed at a CAGR of 2.9% over the past five years and is expected to reach $299.7 billion by the end of 2025. This includes an anticipated 3.0% 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 is likely to be shaped by varying factors. The apartment supply in the US, which hit a record in 2024, is expected to taper off, which will, in turn, push rental prices and occupancy rates up to the lessors' benefit. Other factors, such as further interest rate cuts, decreasing financial barriers to homeownership, and a high rate of urbanization, will also significantly impact the industry. Wth approximately 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 2.8% over the next five years, reaching an estimated $344.3 billion in 2030.

Lists U.S. counties designated as Low Vacancy Areas for the purposes of the Tenant-Protection Vouchers (TPV) program set-aside for low-vacancy areas.The Department of Housing and Urban Development (HUD) identifies low-vacancy areas for purposes of funding the Tenant Protection Vouchers (TPVs) set-aside for certain at-risk households in low-vacancy areas. The Department has set low-vacancy areas at the county level.Low-vacancy areas are set at the county level using occupancy rates for public housing and multifamily assisted properties. Occupancy data at the project level are obtained from the most recent Picture of Subsidized Households Report. For the purposes of the TPV set-aside, a low-vacancy area is defined to be an area with an occupancy rate for public housing and multifamily assisted properties greater than or equal to 90 percent.To ensure that vacancy rates are only counted for high quality units, the occupancy data is matched to the most recent Physical Inspection Scores data for both public housing and multifamily assisted properties. Properties with inspection scores below 60 are removed from the sample, as are properties that are missing inspection scores or occupancy rates.Project-level data is aggregated to the county level, and the total occupancy rate for each county is calculated. County-level occupancy rates are used for the determination of eligibility for TPV set-aside funding as long as at least ten units of public housing and multifamily assisted housing are included in the dataset.- Counties within a Core-Based Statistical Area (CBSA) that have less than ten units use the CBSA-level occupancy rates.- Counties outside of CBSAs with less than ten units use state-wide non-CBSA totals to calculate occupancy rates.- Counties in states with only CBSA counties or a state non-CBSA unit count below ten use national non-CBSA occupancy rates.To learn more about Low Vacancy Areas visit : https://www.huduser.gov/portal/datasets/lowvactpv.html, for questions about the spatial attribution of this dataset, please reach out to us at GISHelpdesk@hud.gov. Date of Coverage: Jun 30, 2024 - Jul 1, 2025Data Dictionary: DD_Low Vacancy Areas - Set-Aside Tenant Protection Voucher

When a resident vacates a rental property, property managers incur in turnover costs such as lost rent during the vacancy period, concessions, unit repair costs, and advertising and marketing costs. According to a survey among multifamily property managers in the United States, on average, companies faced almost 4,000 U.S. dollars per property vacated in 2023, with the lost rental income being the biggest cost driver.

Represents the findings of an annual survey of multi-family dwellings in Alberta's rural communities, conducted by the Government of Alberta between the months of May and August each year. The survey identifies building type, unit type, number of units, rental rates and the number of vacancies in Alberta communities with populations between 1,000 and 9,999 that have at least 30 or more rental units. The survey report is recognized as the only official and unbiased rental housing cost and vacancy information for rural Alberta. It provides the provincial government, housing industry, municipalities, and various other entities with essential housing information on private market vacancy and rental rates in multi-family dwellings in rural Alberta. The files below include reports with the results of each year's survey, as well as an excel dataset with data tables for surveys from 2022-2024. Further details on methodology can be found in any of the annual reports, and a data dictionary is included in the excel dataset.

The Department of Housing and Urban Development identifies low-vacancy areas for purposes of funding the Tenant-Protection Vouchers (TPVs) set-aside for certain at-risk households in low-vacancy areas. The Department has set low-vacancy areas at the county level. Low-vacancy areas are set at the county level using occupancy rates for public housing and multifamily assisted properties. Occupancy data at the project level are obtained from the most recent Picture of Subsidized Households Report. For the purposes of the TPV set-aside, a low-vacancy area is defined to be an area with an occupancy rate for public housing and multifamily assisted properties greater than or equal to 90 percent.