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Sunday, November 24, 2024

Alabama ranked second in nation with rental vacancy rate of 12.3% in Q3 2020

Realestate3

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Alabama ranked second in the nation in the third quarter with a rental vacancy rate of 12.3 percent, according to the U.S. Census Bureau.

The rental vacancy rate is the proportion of the homeowner inventory vacant for rent at the time of the survey.

Vacancy rates are a leading economic indicator used by economic forecasters and the federal government to gauge the current economic climate.

The bureau compiles data from a sampling of approximately 72,000 occupied and vacant housing units across the country and the District of Columbia. The bureau also collects information on homeownership vacancies, as well as certain characteristics about housing units, such as the age of household members, family status, race/ethnicity and median family income.

Rental Vacancy Rates by State in Q3

RankStateRental Vacancy Rate
1North Dakota14.1%
2Alabama12.3%
3Kansas10.3%
4Texas9.9%
5Arkansas9%
6Iowa8.8%
7Louisiana8.7%
7Hawaii8.7%
7District of Columbia8.7%
10South Dakota8.6%
10Indiana8.6%
12Missouri8.5%
12Illinois8.5%
14Tennessee8.4%
14South Carolina8.4%
16Arizona8.3%
17Pennsylvania8.1%
18Oklahoma7.9%
19Wyoming7.7%
19Mississippi7.7%
21Florida7%
22Georgia6.5%
23Maryland6.4%
24Michigan6.3%
24Connecticut6.3%
26New Mexico6.2%
27New York6.1%
27Alaska6.1%
29Nebraska5.8%
30Oregon5.4%
30Maine5.4%
32West Virginia5.3%
32Idaho5.3%
34Colorado5%
35Delaware4.9%
36Virginia4.8%
36Utah4.8%
38Nevada4.7%
38Montana4.7%
38California4.7%
41Wisconsin4.6%
41Ohio4.6%
43North Carolina4.5%
44Kentucky4.3%
45Washington4%
46Massachusetts3.7%
47Minnesota3.3%
48New Jersey3%
49Vermont2.6%
50Rhode Island2.1%
51New Hampshire1.9%

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