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The states with the highest housing vacancy rates (and why it matters)

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Photo: Daniel W ((((Shutterstock).

Now is not a good time to find a new place to live.I have not in the meantime It’s been a good time for a long time, as demand seems to consistently significantly outpace supply, whether you’re looking for it or not. Rent or buy. However, in some states it may be a little easier to find a vacant house than in others. According to Lending Tree analysis..

Obviously, the housing market is complex and vacancy rates are just one part of the puzzle. Low vacancy rates may indicate high demand and limited supply in highly competitive markets, which can lead to higher prices. Or that may simply mean that the seller is letting go of their home less. Conversely, high vacancy rates in high-priced areas may simply indicate that there are too many unoccupied vacations and investment properties full-time.

A Important warning Lending Tree methodology The report uses data from the US Census Bureau’s 2020 American Community Survey. In “1 year experimental estimation”. As we have seen, the housing market cData months ago may not accurately reflect today’s vacancy rates, as they hang quickly and constantly. State-level numbers also cannot capture hyperlocal differences.

Census Bureau will publish Quarterly vacancy rate By region, Along with other vacancy and home ownership data. For example, in the first quarter of 2022, homeowner vacancy rates across the country were 0.8%, while rental vacancy rates across the country were 5.8%. Rents for the first quarter of 2021 were 0.9% and 6.8%, respectively. Rent vacancy rates were highest in the South (7.1%), lowest in the West (4.5%), and vacancy rates for homeowners were similar everywhere (0.8%). –0.9%) Except for the western part, it is much lower at 0.5%.

Also note that the “vacant” category is a combination of many subcategories, such as seasonal homes and homes that have been sold but have not yet been occupied by new owners. Therefore, vacant units may not always be rented or purchased.

However, the states with the highest and lowest vacancy rates are:

The state with the highest vacancy rate

  1. Vermont: 22.86%
  2. Main: 22.68%
  3. Alaska: 20.51%
  4. West Virginia: 18.12%
  5. Alabama: 17.69%
  6. Florida: 17.13%
  7. New Hampshire: 16.74%
  8. Mississippi: 16.26%
  9. Louisiana: 16.21%
  10. Wyoming: 15.88%

The state with the lowest vacancy rate

  1. Oregon: 7.76%
  2. Washington: 7.87%
  3. Connecticut: 8.09%
  4. New Jersey: 8.45%
  5. California: 8.68%
  6. Massachusetts: 8.73%
  7. Illinois: 9.12%
  8. Maryland: 9.14%
  9. Utah: 9.46%
  10. Colorado: 9.50%

The states listed generally reflect the latest data from the Census Bureau on regional vacancy rates. Again, this is just one indicator of the housing market.

The states with the highest housing vacancy rates (and why it matters)

Source link The states with the highest housing vacancy rates (and why it matters)

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