Rental Vancancy Rate Up, Homeowner Rate Steady: Census
The rental vacancy rate was 11.1% in Q309, an increase from 9.9% in Q309 and 10.6% in Q209, according to the latest data released by the Census Bureau. The homeowner vacancy rate held steady at 2.5% from Q209 to Q309, which is lower than Q308’s 2.8%. The homeownership rate was 67.6%, nearly even with the 67.9% in Q309 and 67.4% in Q209. Rental vacancy was higher inside principal cities and in the suburbs in Q309 than in Q209, but rates outside metropolitan statistical areas (MSAs) remained level year-over-year. Homeowner vacancy rates were higher in principal cities than in suburbs and outside MSAs during the quarter. Vacancy rates in principal cities and in the suburbs were lower than their respective rates a year ago, while the rate outside MSA’s was not statistically different from last year’s rate, the Census said. Approximately 85.5% of the housing units in the US during Q309 were occupied and 14.5% were vacant. Write to Austin Kilgore.