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Rental Vacancy Rates
By: Andrew Woo
January 28, 2016
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.
| Location | Type | Year | Quarter | Vacancy Rate |
|---|---|---|---|---|
| United States | National | 2015 | 4 | 7.0% |
| Alabama | State | 2015 | 4 | 16.0% |
| Alaska | State | 2015 | 4 | 7.5% |
| Arizona | State | 2015 | 4 | 8.0% |
| Arkansas | State | 2015 | 4 | 9.1% |
| California | State | 2015 | 4 | 4.0% |
| Colorado | State | 2015 | 4 | 5.0% |
| Connecticut | State | 2015 | 4 | 8.0% |
| Delaware | State | 2015 | 4 | 5.4% |
| District of Columbia | State | 2015 | 4 | 5.7% |
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AUTHOR
Andrew is the former Director of Data Science at Apartment List, where he lead research into rental trends and affordability. Andrew previously worked as a management consultant at Bain & Company, and has a BA in Economics from Brigham Young University. Read More
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