March 7, 2012

Rental Vacancy Rates by State for Q4 2011

I previously discussed rental vacancy rates for some major cities.

Today we'll look at state wide level data.  This information is from the Census Housing Vacancy Survey data.   Direct link to the XLS sheet.

You can not assume that the vacancy rate for your state applies to your city.   Individual cities will vary.   If your city is in the top 75 metropolitan areas then you can get the rental vacancy rate for your city from the census site.    But if your city is not in that list then you could use the state level data as a rough guess.   Individual cities are probably relatively close to the state average at least within 2% give or take.   

Here is the latest state level data specifically for the Fourth quarter of 2011 :

State Vacancy %
Alabama 11.9
Alaska 6.1
Arizona 11.5
Arkansas 14.3
California 5.9
Colorado 6.3
Connecticut 10.2
Delaware 10.4
District of Columbia 8.2
Florida 15.2
Georgia 10.3
Hawaii 10.8
Idaho 7.9
Illinois 11.1
Indiana 11
Iowa 7
Kansas 6.5
Kentucky 11
Louisiana 12.2
Maine 6
Maryland 13
Massachusetts 6.2
Michigan 12.2
Minnesota 6.8
Mississippi 17.5
Missouri 10.9
Montana 4.6
Nebraska 9.2
Nevada 11.1
New Hampshire 8.2
New Jersey 10.8
New Mexico 5.2
New York 6.3
North Carolina 10.7
North Dakota 9.2
Ohio 9.5
Oklahoma 10.1
Oregon 4.5
Pennsylvania 9.7
Rhode Island 6
South Carolina 10.5
South Dakota 10
Tennessee 12.4
Texas 11.3
Utah 5.9
Vermont 2.8
Virginia 10.3
Washington 5.8
West Virginia 6.1
Wisconsin 6.4
Wyoming 4.5

As you can see theres a pretty wide range of rental vacancy rates from state to state.  

The 5 highest rates are :

Mississippi 17.5
Florida 15.2
Arkansas 14.3
Maryland 13
Tennessee 12.4

The 5 lowest rates are :

Vermont 2.8
Oregon 4.5
Wyoming 4.5
Montana 4.6
New Mexico 5.2

So the high is 17.5% in Mississippi and the low is 2.8% in Vermont.   The median value is 9.7%.  


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