Homeowner Vacancy Rate Dips YoY; Rental Vacancy Rate Increases

(Courtesy Census Bureau)

The Census Bureau, Washington, D.C., said the homeowner vacancy rate fell slightly in the second quarter compared to a year ago while the rental vacancy rate increased.

National vacancy rates in the second quarter equaled 0.7 % for homeowner housing, down from 0.8% a year before, while rental housing vacancy rates increased to 6.3% from 5.6% in the second quarter of 2022, the Bureau’s Quarterly Residential Vacancies and Homeownership report said.

Looking at a shorter time horizon, neither vacancy rate was statistically different than the rate in the first quarter, Census said.

The homeownership rate, 65.9%, was not statistically different than the rate in the second quarter of 2022 (65.8 percent) and not statistically different than the first-quarter 2023 rate of 66.0%.