The States With the Highest Vacancy Rates (and Why It Matters)

Now is definitely not the best time to look for a new home. It wasn’t a good time, well, a long time, as demand seems to constantly and drastically outstrip supply, whether you’re looking to rent or buy. But according to LendingTree ‘s analysis, it may be a little easier to find free housing in some states than in others.

Clearly, the housing market is complex and the vacancy rate is just one small piece of the puzzle. Low vacancy rates may indicate high demand and limited supply in a competitive market, which may be due to higher prices. Or it could mean that sellers are simply renting their homes out for less. Conversely, high vacancy rates in areas with high prices may simply indicate an abundance of holiday or investment properties that are not permanently occupied.

A significant caveat to LendingTree’s methodology is that the report uses data from the US Census Bureau 2020 Survey of the American Community, with “one-year experimental estimates.” As we have seen, the housing market changes rapidly and constantly, so data many months ago may not accurately reflect today’s vacancy rates. State-level numbers also fail to reflect hyperlocal differences.

The Census Bureau releases quarterly vacancy data by region, as well as other vacancy and homeownership data. For example, in the first quarter of 2022, the national homeowner vacancy rate was 0.8% compared to the national vacancy rate of 5.8%. In the first quarter of 2021, these rates were 0.9% and 6.8%, respectively. Vacancy rates were highest in the South (7.1%) and lowest in the West (4.5%), while homeowner vacancy rates were comparable everywhere (0.8%). -0.9%), with the exception of the West, where this figure is much lower – 0.5%.

Also note that the “vacant” category combines many sub-categories, including seasonal homes and homes that have been sold but the new owner hasn’t moved in yet. Thus, vacant apartments may not necessarily be rented or bought.

However, here are the states where you’ll find the highest and lowest job posting rates.

States with the highest vacancy rate

1. Vermont: 22.86%
2. Maine: 22.68%
3. Alaska: 20.51%
4. West Virginia: 18.12%
5. Alabama: 17.69%
6. Florida: 17.13%
7. New Hampshire: 16.74%
8. Mississippi: 16.26%
9. Louisiana: 16.21%
10. Wyoming: 15.88%

States with the lowest vacancy rates

1. Oregon: 7.76%
2. Washington: 7.87%
3. Connecticut: 8.09%
4. New Jersey: 8.45%
5. California: 8.68%
6. Massachusetts: 8.73%
7. Illinois: 9.12%
8. Maryland: 9.14%
9. Utah: 9.46%
10. Colorado: 9.50%

The states listed usually reflect the most recent Census Bureau data on regional vacancy rates. Again, this is just one indicator of the housing market.

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