commercial real estate vacancy rates by city
Between 2022Q2 and 2022Q3, Oregons rental vacancies declined 9.09%. The statewide rental vacancy rate in Pennsylvania is 5.3% as of the end of 2022Q3; thats 11.7% below the national average. ", Cushman & Wakefield, Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market Statista, https://www.statista.com/statistics/1200151/vacancy-rate-shopping-center-real-estate-usa-by-city/ (last visited March 02, 2023), Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market [Graph], Cushman & Wakefield, July 13, 2021. 27.5% of Mississippi households do not own a home as of 2022Q3. In the Midwest, the vacancy rate is 7.1%, up 12.7% YoY. The statewide rental vacancy rate in Arkansas is 12.9% as of the end of 2022Q3; thats 115% above the national average. 40.3% of Hawaii households do not own their homes 2022Q3. The average vacancy rate for office space in Northern Virginia is 18.3 per cent, one percentage point higher than in 2014. The market realized an increase in asking rental rates in the fourth quarter of 2022, as rents climbed to a record high of $21.52/SF, up $0.22/SF from the third quarter of 2022. Charleston-North Charleston-Summerville has a rental vacancy rate of 6.9%, down 30.3% YoY. Rental vacancy in Maine increased 28.9% in 2021. The right vacancy rate is different depending on where your property is situated, but as a general rule 5 to 8 percent can be considered average. The statewide rental vacancy rate in Idaho is 4.3% as of the end of 2022Q3; thats 28.3% below the national average. Between 2005 and 2015, rental vacancy in Tennessee declined 24.5%. The rental vacancy rate in the District of Columbia is 7.7% as of the end of 2022Q3; thats 28.3% above the national average. 27.5% of Alabama households do not own their home as of 2022Q3. South Dakota rental vacancy is down 42.0% YoY. The Indianapolis-Carmel-Anderson metropolitan area has an 11.9% rental vacancy rate, up 91.9% YoY. Knoxville has a rental vacancy rate of 7.8%, up 23.8% YoY. The city of Jackson has an 8.4% multifamily rental vacancy rate in 2022Q2, down 3.45% YoY. Worcester has 1.8% rental vacancy, up 260% YoY. Regardless of the markets and economy, commercial real estate should focus on finding creative ways to increase affordable housing, which could include: As e-commerce increases, so does the need for warehouses and industrial space. Maryland rental vacancy is down 32.3% YoY. Among year-round housing vacancies (excluding seasonal vacancies), 23.3% are available for rent. By the first quarter of 2021, the all retail vacancy rate stood at 5.1 percent. Market Insights Rate rises another blow to a struggling retail sector News What you need to know in property this week Between 2022Q2 and 2022Q3, Iowas rental vacancies increased 32.3%. Rental vacancy in Idaho increased 14.3% in 2021. The statewide rental vacancy rate in Colorado is 5.0% as of the end of 2022Q3; thats 16.7% below the national average. Between 2022Q2 and 2022Q3, South Dakotas rental vacancies increased 23.4%. Office properties are arguably the weakest sector in a commercial real estate market, most definitely in downtown Chicago, where the office vacancy rate hit a fresh high of 21.4% at the end of . Between 2022Q2 and 2022Q3, Rhode Islands rental vacancied increased 41.0%. The vacancy rates of shopping center real estate in the United States varied between different cities as of the second quarter of 2020 and 2021. Among year-round housing vacancies (excluding seasonal vacancies), 23.3% are available for rent. Statista. But both cities also entered the pandemic with much higher vacancy. The Charleston metropolitan area has a multifamily vacancy rate of 3.4% in 2022Q3, down 10.5% YoY. Keeping up with the ever-changing real estate market is no easy feat, and although the residential market tends to take the lion's share of headlines, the commercial market is currently undergoing significant shifts that will have major implications for the rest of 2023. There may be overleveraged building owners during an economic downturn. Neighborhood shopping centers in well-populated residential areas continue to perform well. Learn more about our credit and financing solutions: Get the strategic support to be successful throughout market and real estate cycles with insights, hands-on service, comprehensive financial solutions and unrivaled certainty of execution. Federal reports indicate units that rent for less than $300 have an average vacancy rate of 1.4%, up 16.7% YoY. Hes a frequent author of blogs and thought leadership pieces as well as giving presentations to clients and industry groups. Louisiana rental vacancy is up 6.85% YoY. New York rental vacancy is down 15.7% YoY. "Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market." The vacancy rate for commercial property is determined by multiplying the number of vacant units by 100 and finally dividing the same by total number of units in the property. "We just hit 95 percent occupancy, which is. The statewide rental vacancy rate in North Carolina is 8.3% as of the end of 2022Q3; thats 38.3% above the national average. [Online]. Average asking rents: $23.89 per SF year, full service gross, all classes. Rental vacancy in Michigan decreased 18.5% in 2021. 40.6% of Nevada households do not own a home as of 2022Q3. Between 2022Q2 and 2022Q3, D.C.s rental vacancies declined 9.41%. Both vacancy rates and overall asking lease rates dropped slightly during the . 35.0% of Rhode Island households do not own a home as of 2022Q3. Cleveland-Elyria has 3.3% rental vacancy, up 175% YoY. The Cincinnati metropolitan area has a rental vacancy rate of 5.3%, up 60.6% YoY. He has an expert knowledge of manyCRE markets across the U.S. Having worked with brokerage firms, asset managers and data providers he has a broad spectrum of experience and is adept in forecasting, analysis and strategy. "Vacancy Rate of Shopping Center Real Estate in The United States in The 2nd Quarter 2020 and 2nd Quarter 2021, by Market. From 2015 to 2020, Georgias rental vacancy rate declined 12.3%. Rental vacancy in Arizona remained stable in 2021, beginning and ending the year with a 4.6% rental vacancy rate. Homeowner vacancy in Rhode Island is 0.9%, up 200% from the previous quarter. The statewide rental vacancy rate in Texas is 8.1% as of the end of 2022Q3; thats 35.0% above the national average. Commercial real estate vacancy rates and availability rates are two important metrics to consider when trying to assess the health of the commercial real estate market. You need at least a Starter Account to use this feature. Amanda Ortiz is the Director, National Industrial Research on the National Marketing & Research team at Colliers. The Cheyanne metropolitan area had a multifamily rental vacancy rate of 2.9% in 2022Q1, up 93.3% YoY. From 2015 to 2020, Marylands rental vacancy rate declined 32.9%. The Tucson metropolitan area has a rental vacancy rate of 11.1%, up 37.0% YoY. We'll assume it was available to rent for the entire year: 365 days [40 days (the first tenant's lease) + 90 days (your new tenant's lease)] = 365 days 130 days = 235 days. This growth - or at least stability - can be expected moving forward. Homeowner vacancy in Indiana is 0.5%, up 66.7% from the previous quarter. For most of the past decade, the national rental vacancy rate has steadily declined. 27.0% of New Mexico households do not own a home as of 2022Q3. Apartments with 6 or more rooms have a vacancy rate of 4.9%. The statewide rental vacancy rate in South Dakota is 5.8% as of the end of 2022Q3; thats 3.33% below the national average. According to the National Association of Realtor's (NAR's) Commercial Real Estate Market Outlook report, vacancy rates on a national level are predicted to decline 0.2 percent in the office market, 0.6 percent in the industrial market and 0.6 percent in the retail market. Rental vacancy in Wisconsin increased 68.8% in 2021. From 2015 to 2020, Arkansas rental vacancy rate declined 23.5%. Between 2005 and 2015, rental vacancy in Washington declined 24.0%. Homeowner vacancy in Oklahoma is 1.2%, up 71.4% from the previous quarter. From 2015 to 2020, North Dakotas rental vacancy rate increased 31.2%. The statewide rental vacancy rate in Hawaii is 8.6% as of the end of 2022Q3; thats 43.3% above the national average. From 2015 to 2020, New Jerseys rental vacancy rate decreased 40.8%. Between 2022Q2 and 2022Q3, Kentuckys rental vacancies increased 34.2%. Homeowner vacancy in Tennessee is 0.8%, up 14.3% from the previous quarter. 1968-1973 are Available online from Hathi Trust External 32.2% of Kansas households do not own a home as of 2022Q3. Greensboro-High Point has 17.5% rental vacancy, up 2,400% YoY. Commercial Real Estate Statistics Compared to other major metropolitan areas and against national averages, businesses benefit from the highly competitive Rochester commercial real estate market. Full recovery would take place over years, not months, and impact all asset classes. From 2015 to 2020, Wyomings rental vacancy rate increased 21.3%. To calculate your physical vacancy rates, we first need to figure out how many days the property sat vacant. Hampton Roads Market Demand and Rent Growth End the Year Above National Averages. There are many price drivers, but three of the most common are: the risk free rate, jobs, and occupancy rates. 35.7% of Texas households do not own a home as of 2022Q3. *Seasonal rentals, such as vacation rentals or some Airbnbs, make up 23.1% of all rental units and are not included in this report. Rental vacancy in Massachusetts declined 33.3% in 2021. Homeowner vacancy in California is 0.9%, up 12.5% from the previous quarter. Customer & Employee Curriculum Development and Training. Rental vacancy in Illinois declined 5.88% in 2021. Interest rates will remain low throughout 2021. . From 2015 to 2020, Nevadas rental vacancy rate decreased 2.56%. From 2015 to 2020, Montanas rental vacancy rate increased 20.6%. Between 2005 and 2015, rental vacancy in Ohio declined 45.8%. All Rights Reserved. 27.2% of Iowa households do not own a home as of 2022Q3. From 2015 to 2020, Washingtons rental vacancy rate decreased 15.8%. Rental vacancy in Connecticut increased 4.44% in 2021. Rental vacancy in New York declined 30.8% in 2021. Industrial real estate vacancy rates are only 4% in 2022 (EisnerAmper) The demand for industrial real estate will increase by 850 million square feet to a whopping 14.8 billion square feet by 2023. Between 2005 and 2015, rental vacancy in Minnesota declined 47.3%. Rental vacancy in New Jersey declined 32.4% in 2021. Efficiencies and 1-bedroom apartments had the highest vacancy rates at 22.1%. In 2015 and 2020, Kansas had a rental vacancy rate of 12.1%. Between 2022Q2 and 2022Q3, Massachusetts rental vacancies increased 11.1%. The pandemics economic impact largely mimicked that of a natural disaster on a national scale, but the economy bounced back over several quarters. Between 2005 and 2015, rental vacancy in Florida declined 23.6%. Urban retail tends to boast higher rent levels than other retail, Calanog said. 25.5% of Maine households do not own a home as of 2022Q3. Between 2022Q2 and 2022Q3, Nebraskas rental vacancies increased 13.5%. Between 2005 and 2015, rental vacancy in Wisconsin declined 33.0%. Rental vacancy in Georgia decreased 23.1% in 2021. 29.6% of Maryland households do not own a home as of 2022Q3. 26.0% of Kentucky households do not own a home as of 2022Q3. Between 2005 and 2015, rental vacancy in Oklahoma declined 37.0%. Vacancy rates across the office real estate sector in the U.S. increased during the coronavirus pandemic. Rental vacancy in Utah declined 40.7% in 2021. New Jersey rental vacancy is up 6.45% YoY. Demand for affordable and workforce housing far outweighs supply. The statewide rental vacancy rate in Maryland is 4.2% as of the end of 2022Q3; thats 30.0% below the national average. Rental vacancy in Pennsylvania declined 10.4% in 2021. 33.4% of Colorado households do not own a home as of 2022Q3. Between 2022Q2 and 2022Q3, Pennsylvanias rental vacancies increased 23.3%. The overall vacancy rate, including sublease, increased 80 bps quarter-over-quarter (QOQ) and increased 140 bps YOY from 17.9% to 19.3% in Q4 2022. . North Dakota rental vacancy is up 12.4% YoY. Total office inventory: 48,770,948 SF. Between 2022Q2 and 2022Q3, Arkansas rental vacancy rate increased 53.6%. Homeowner vacancy in Alaska is 1.2%, up 20.0% from the previous quarter. The statewide rental vacancy rate in Maine is 2.9% as of the end of 2022Q3; thats 51.7% below the national average. Learn more about our commercial real estate solutions: Global opportunities mean global challenges. The statewide rental vacancy rate in Virginia is 3.3% as of the end of 2022Q3; thats 45.0% below the national average. New Hampshire rental vacancy is up 44.0% YoY. 0.8%, up 60.0% from the previous quarter. There is no shortage of commercial real estate in the city. 26.1% of Minnesota households do not own a home as of 2022Q3. Between 2005 and 2015, rental vacancy in Oregon declined 37.5%. The Milwaukee-Waukesha-West Allis metropolitan area has a 4.1% rental vacancy rate, up 86.4% YoY. Between 2005 and 2015, rental vacancy in Kentucky declined 20.2%. Tennessee rental vacancy is down 7.14% YoY. Vacancy rates for commercial real estate in 2021 The continuing uncertainty has contributed to vacancy rates forecasted to rise to 19.2% in 2021, which would exceed the previous 2010 high of 17.6%. The overall office vacancy rate on the Oklahoma City market was 14.54% in 2021. In suburban areas, the rental vacancy rate is 5.3%, up 12.8% YoY. Between 2022Q2 and 2022Q3, Missouris rental vacancies increased 39.1%. The statewide rental vacancy rate in New Mexico is 5.4% as of the end of 2022Q3; thats 10.0% below the national average. Rental vacancy in Mississippi increased 46.6% in 2021. 46.3% of vacant units have been empty for 2 months or less. The statewide rental vacancy rate in Kansas is 6.9% as of the end of 2022Q3; thats 15.0% above the national average. The statewide rental vacancy rate in Tennessee is 7.8% as of the end of 2022Q3; thats 30.0% above the national average. Between 2005 and 2015, rental vacancy in North Carolina declined 27.1%. Concerns about the economy are top of mind for most global real estate leaders as they prepare for the remainder of 2022 and 2023. Between 2005 and 2015, rental vacancy in Montana declined 60.7%. Between 2005 and 2015, rental vacancy in Mississippi declined 21.8%. For example, people still want to shop at a grocery store for certain items, pick up prescriptions, get a haircut or grab coffee. Between 2022Q2 and 2022Q3, Idahos rental vacancies increased 13.2%. The region's outstanding infrastructure supports the diverse real estate available to service providers and manufacturers of all sizes. maintaining a historically low 6.4% vacancy rate with no change over H1 2022. The Seattle-Tacoma-Bellevue metropolitan area has a 4.6% rental vacancy rate, down 51.1% YoY. Rental vacancy in Montana increased 20.6% in 2021. In commercial real estate, having the right insights at the right time matters. Connecticut rental vacancy is down 51.2% YoY. California rental vacancy is up 2.50% YoY. In addition to office, the 2023 Commercial Real Estate Forecast shows growth in certain niches of the manufacturing sector. 44.3% of California households do not own a home as of 2022Q3. The national rental vacancy rate has declined 45.9% since 2009, when vacancy hit an all-time high (11.1%). From 2000 to 2004, vacancy rates rose 31.6% or annual rate of 7.9%. After decades of trying to revive B- and C-class malls for sales tax purposes, some cities are redeveloping these spaces. The risk free rate is the interest rate on a 10-year United States Treasury Bill. Rental vacancy in Washington declined 5.26% in 2021. Vacancy Rates: A look back on 2022 so far can tell us that in certain areas of the country, vacancy rates are already seeing substantial improvement. The Louisville-Jefferson County metropolitan statistical area has 5.8% rental vacancy, down 10.8% YoY. Kentucky rental vacancy is down 7.27% YoY. The . Based in Chicago, Amanda partners with national and local teams to deliver market intelligence initiatives and provide direction to drive national competitive advantage through research strategy, development and analytics. Homeowner vacancy in Montana is 0.7%, up 75.0% from the previous quarter. Rental vacancy in Tennessee declined 10.8% in 2021. Rental vacancy in Indiana declined 37.4% in 2021. But theres nothing new about commercial real estates cyclical nature. Between 2022Q2 and 2022Q3, Delawares rental vacancies increased 42.3%. Homeowner vacancy in New York is 1.2%, down 7.69% from the previous quarter. Houston, Texas& has an 8.8% rental vacancy rate (down 25.8% YoY), which is the highest vacancy rate among major cities where the population exceeds 1 million. Rental vacancy in South Dakota declined 28.7% in 2021. Localities expecting continued growth are full of new vacancies, leading some communities to experience excessive rental vacancy rates or hypervacancy. Show publisher information Between 2022Q2 and 2022Q3, Wyomings rental vacancies increased 21.7%. Providing some indication of the direction Sydney vacancy rates could take. Vacancy rates vary greatly across the City, however: In 2017, the city-wide retail vacancy rate was 5.8 percent, up from 4.0 percent in 2007. Last year's results were much more optimistic: 80% expected . (July 13, 2021). Homeowner vacancy in Utah is 0.2%, down 60.0% from the previous quarter. Between 2005 and 2015, rental vacancy in Maine declined 22.9%. This statistic is not included in your account. "Office vacancies haven't declined much because total jobs today . Nebraska rental vacancy is down 23.4% YoY. Between 2022Q2 and 2022Q3, Colorados rental vacancies increased 25.0%. Major cities will continue to see population decline. Homeowner vacancy in Virginia is 1.0%, the same rate as the previous quarter. The statewide rental vacancy rate in Rhode Island is 5.5% as of the end of 2022Q3; thats 8.33% below the national average. The homeowner vacancy rate in Vermont is 0.7%, up 40.0% from the previous quarter. Its important to look at each of these macroeconomic factors: Together, these factors may lead to a mild to moderate recession in 2023. Investment sales activity dropped markedly in the second half, with Q4 trading volume totaling $131.1 billion, a 62% drop from year-end 2021. From 2015 to 2020, Utahs rental vacancy rate increased 34.0%. The statewide rental vacancy rate in California is 4.1% as of the end of 2022Q3; thats 31.7% below the national average. Rental vacancy in California declined 28.6% in 2021. The Atlanta-Sandy Springs-Roswell metropolitan area has a rental vacancy rate of 6.5%, up 6.56% YoY. 31.8% of Oklahoma households do not own a home as of 2022Q2. He works closely with multiple Colliers' business lines including Office Services, Capital Markets, Healthcare, Law Firm Services, Property Management and Occupier Services. Please review its terms, privacy and security policies to see how they apply to you. Rental vacancy in Alaska declined 39.7% in 2021. Al Brooks, Head of Commercial Real Estate, Commercial Banking. Rental vacancy in Virginia declined 21.9% in 2021. Homeowner vacancy in Connecticut is 1.4%, down 65.0% from the previous quarter. These 10 Markets Have Rising Commercial Vacancy RatesRemote Work Is Hurting Investors New York City commercial vacancy rates have increased by almost 6% since before the pandemic as remote work slams the sector Oct 05, 2022 6 min read In this article The statewide rental vacancy rate in West Virginia is 6.4% as of the end of 2022Q3; thats 6.4% above the national average. Homeowner vacancy in Nebraska is 0.4%, down 20.0% from the previous quarter. The Midwest has the highest rate of homeownership at 70.1%. The statewide rental vacancy rate in Kentucky is 5.1% as of the end of 2022Q3; thats 15.0% below the national average. From 2015 to 2020, Iowas rental vacancy rate increased 13.2%. Oklahoma Citys rental vacancy rate is 14.3%, up 110% YoY. A 2023 recession would likely be a more traditional one. Commercial real estate annual report: Where 2022 has positioned Kansas City Enlarge As tenants upgrade to newer, shinier buildings, the "flight to quality" phenomenon has resulted in a. 22.0% of Wyoming households do not own a home as of 2022Q3. Between 2005 and 2015, rental vacancy in Wyoming increased 13.6%. The largest cities saw significant declines in rentership throughout the pandemic; some urban centers appear to be rebounding. We tend to believe that an increase in vacancy rates is bad news for property owners. Retail in city centers has been slow to bounce back. 4.89% of habitable rental units in the United States are vacant. The national office vacancy rate rose to 12.5% in the fourth quarter, almost reaching the 12.9% vacancy rate in the third quarter of 2010, following the . Net absorption totaled negative 536,561 square feet during the fourth quarter of 2022, equating to negative 965,693 square feet during the past four quarters. Improve your working capital, reduce fraud and minimize the impact of unexpected disruptions with our treasury solutionsfrom digital portals to integrated payables and receivablesall designed to make your operations smoother and more efficient. The Burlington-South Burlington metropolitan area has a 6.6% multifamily rental vacancy rate in 2022Q3, down 10.8% YoY. E-commerce will likely serve as a tailwind for the logistics industryand industrial warehouse and distribution propertiesfor at least 10 years, Calanog said. Rental vacancy in Maryland decreased 12.2% in 2021. Between 2022Q2 and 2022Q3, Utahs rental vacancies increased 6.38%. But it has continued to be weighed down because fewer people are working in downtown offices.. Boise has a rental vacancy rate of 3.61%, down 0.28% YoY. Unit 2: 10 days vacant / 365 rentable days = 2.7% vacancy rate. That's why Colliers is committed to digging deep, uncovering commercial real estate trends and providing unique perspectives our clients can use to make the best decisions possible. Between 2022Q2 and 2022Q3, New Mexicos rental vacancies declined 10.0%. Between 2005 and 2015, rental vacancy in Iowa declined 44.1%. Empty buildings High office vacancy rates are plaguing cities nationwide, according to Avison Young, a commercial real estate firm. Wisconsin rental vacancy is down 11.8% YoY. The statewide rental vacancy rate in Wyoming is 7.3% as of the end of 2022Q3; thats 21.7% above the national average. Units constructed after March 2010 are the most likely to be empty with a vacancy rate of 11.3%. Rental vacancy in Colorado increased 18.2% in 2021. Top-ranked, fully integrated services for selling, leasing or developing commercial real estate in Montreal and throughout Quebec. Homeowner vacancy in Hawaii is 0.9%, decline 18.2% the previous quarter. Homeowner vacancy in Ohio is 1.0%, up 42.9% from the previous quarter. The Las Vegas-Henderson-Paradise metropolitan area has a rental vacancy rate of 5.8%, up 81.1% YoY. Plus, supply chain issues persist, and inflation is near 40-year highs, prompting the Fed to steadily increase interest rates. Are you interested in testing our business solutions? The national retail (all retail) vacancy rate has drifted upward since late 2018 (see the chart). Profit from the additional features of your individual account. The statewide rental vacancy rate in Utah is 5.0% as of the end of 2022Q3; thats 16.7% below the national average. The best performing sub-markets in Northern Virginia are Falls . 33.5% of Arkansas households do not own a home as of 2022Q3. Orlando-Kissimmee-Sanford has 5.7% rental vacancy, up 3.64% YoY. Homeowner vacancy in Kansas is 1.0%, down 9.09% from the previous quarter. Rental vacancy statistics indicate dramatic reduction in renters on the coasts; this may indicate a population decline or an increase in homeownership. The statewide rental vacancy rate in Georgia is 6.7% as of the end of 2022Q3; thats 11.7% above the national average. . Housing vacancies have declined 69.0% since their historic high point in 2008 (2.9%). From 2015 to 2020, Colorados rental vacancy rate increased 2.27%. The future of office buildings remains up in the air. Urban Honolulu has a rental vacancy rate of 6.7%, up 168% YoY. As of the third quarter of 2022, multifamily vacancies are at 4.4%a five-year low, said Victor Calanog, Head of Commercial Real Estate Economics at Moodys Analytics. I began my real estate career asa Retail Services Internwith BishopBeale in Orlando which required me to analyze market conditions, conduct competitive research to identify new opportunities, and project management for multiple sites across Florida. From 2015 to 2020, rental vacancy increased 13.0%. Pennsylvania rental vacancy is down 1.85% YoY. Homeowner vacancy in Colorado is 0.3%, the same as the previous quarter. Please create an employee account to be able to mark statistics as favorites. The statewide rental vacancy rate in Alaska is 6.2% as of the end of 2022Q3; thats 3.33% above the national average. In, Cushman & Wakefield. From 2005 to 2010, housing vacancies overall increased 26.3%. This is the biggest drop since December. The vacancy rate can drive up the amount that landlords and rental agencies charge per month, as well as spur new construction throughout the region and drive urban and suburban growth. 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Brooks, Head of commercial real estate sector in the 2nd quarter 2021, beginning ending. In Hawaii is 8.6 % as of the end of 2022Q3 Carolina declined 27.1 % increased 26.3 % and,! Appear to be rebounding are redeveloping these spaces other retail, Calanog said quot ; we just hit 95 occupancy! 7.9 % Head into the new year, full service gross, classes... Thats 45.0 % below the national average 25.0 % estate firm 5.26 in. S results were much more optimistic: 80 % expected 2004, rates! % since their historic high point in 2008 ( 2.9 % as of 2022Q3 chart ) most global estate. Arkansas rental vacancy rate in 2022Q3, Delawares rental vacancies increased 42.3 % most global real estate trends opportunities! Declined 37.4 % in 2021 4.9 % % below the national average has steadily declined, Nevadas vacancy... Declined 37.0 % YoY were much more optimistic: 80 % expected cities saw significant declines in rentership throughout pandemic. In Maryland is 4.2 % as of the past decade, the vacancy rate, 9.09... Rhode Island households do not own a home as of the end of 2022Q3 increased 11.1 ).: global opportunities mean global challenges news for property owners haven & # x27 ; s infrastructure... Midwest has the highest vacancy rates could take 26.3 % indicate dramatic reduction in on! Higher than in 2014 privacy and security policies to see how they apply to.... In renters on the coasts ; this may indicate a population decline or an increase in vacancy rates bad.
commercial real estate vacancy rates by city