Econintersect: Latest data released by US Census shows a jump in rental housing vacancy and a slight improvement in vacancy rates in homeowner housing.
National vacancy rates in the first quarter 2011 were 9.7 percent for rental housing and 2.6 percent for homeowner housing, the Department of Commerce’s Census Bureau announced today. The rental vacancy rate of 9.7 percent was 0.9 percentage points lower than the rate recorded in the first quarter 2010 (+/-0.5 percentage points) and 0.3 percentage points higher than last quarter (+/-0.4). The homeowner vacancy rate of 2.6 percent was approximately the same as the first quarter 2010 rate (+/-0.2) and 0.1 percentage point lower (+/-0.2)* than the rate last quarter (2.7 percent).
The homeownership rate of 66.4 percent was 0.7 percentage points (+/-0.4%) lower than the first quarter 2010 rate (67.1 percent) and 0.1 percentage point (+/-0.4%)* lower than the rate last quarter (66.5 percent).
Overall, 85.6% of the housing units were occupied and 14.4% were vacant. Owner-occupied housing units make up 56.9% of total housing units, while renter-occupied units make up 28.8 percent of the inventor. Vacant year-round units comprise 10.9% of total housing units, while 3.5% were for seasonal use.
