Vacancy Rate Remains High
The U.S. Census Bureau released its first quarter 2009 housing reports, which indicate the overall rental vacancy rate remains high at just over 10%.
The Bureau reports that cities in general are experiencing a higher rental vacancy rate than suburbs, and that the vacancy rate in those areas is higher than it was this time last year.
The South is experiencing the highest rate of rental vacancies, 12.9%, while the Northeast is experiencing the lowest, at 6.9% This is a change from first quarter last year when the highest rates where in the West, and the lowest in the Midwest. The rates for the South and the Northeast have not changed from this time last year.
For more, see USCensus.
See our feature, The ‘Blend and Extend’ Lease: Will It Reduce Vacancies?
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