US Rental Housing Vacancy Rate Hit 14-Year Record High in the Third Quarter of 2009
In particular, the US rental housing market vacancy rate climbed to 11.1%, in the third quarter of this year, representing a 50 basis point rise from the previous quarter and a 120 basis point increase from the rate of 9.9% that prevailed in the third quarter of last year. In the first quarter of 2009 the vacancy rate averaged 10.1%. This was the highest rental housing vacancy rate that has been reported by the US Census Bureau since 1996 the first year for which historical data are published. Note that the rental vacancy rate of 10.6% reported for the second quarter of 2009 was the second highest since 1996.
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