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 in the United States (RRVRUSQ156N) from Q1 1956 to Q1 2025 about vacancy, rent, rate, and USA.

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.

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

Quarterly Apartment Vacancy Rates

In 2023, the average vacancy rate index for rental apartments in different metros in Texas ranged between 6.6 percent and 9.1 percent. Dallas-Fort Worth-Arlington, the most populated metropolitan area, had a vacancy rate index of 7.6 percent in December 2023. Meanwhile, Killeen-Temple was the metro with the lowest index, at 6.59. According to the source, the index is calculated based on data on apartments listed on the Apartment List platform and changes in availability.

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.

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.

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.

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 Texas (TXRVAC) from 1986 to 2024 about vacancy, rent, TX, 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.

NOTE: This dataset has been archived. For updated data tables and materials, please see the main open data listing for the Apartment Vacancy and Rental Cost Survey at https://open.alberta.ca/publications/2369-8780. Contains tabular data found in the 2022 Apartment Vacancy and Rental Cost Survey publication, released in an open data format. The Government of Alberta conducts a survey of apartment vacancies annually between the months of May and August. 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.

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

Graph and download economic data for Rental Vacancy Rate for Minnesota (MNRVAC) from 1986 to 2024 about vacancy, MN, rent, rate, and USA.

Vacancy rates, apartment structures of six units and over, privately initiated in census metropolitan areas

The number of vacant homes for rent in the United States increased for the third year in a row in 2024, after reaching a record low in 2021. In the fourth quarter of 2024, there were approximately 3.4 million unoccupied housing units for rent.

Contains tabular data found in the 2023 Apartment Vacancy and Rental Cost Survey publication, released in an open data format. The Government of Alberta conducts a survey of apartment vacancies annually between the months of May and August. 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.

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.

Vacancy rates, row and apartment structures of three units and over, privately initiated in census agglomerations of 10,000 to 49,999 and cities, weighted average and 50,000 and over, weighted average