In 2015 and 2020, Oregon had a 4.5% rental vacancy rate. South Carolina rental vacancy is down 41.7% YoY. Between 2005 and 2015, rental vacancy in Colorado declined 71.2%. The Hartford metropolitan area has an average rental vacancy rate of 3.0%, down 63.4% YoY. Between 2022Q2 and 2022Q3, Arkansas rental vacancy rate increased 53.6%. As a general rule, rent prices increase as vacancy rates decrease. Charleston-North Charleston-Summerville has a rental vacancy rate of 6.9%, down 30.3% YoY. Bridgeport-Stamford-Norwalk has 2.4% rental vacancy, up 60.0% YoY. Minnesota rental vacancy is up 80.0% YoY. You can only download this statistic as a Premium user. E-commerces need to get products into consumers hands sooner is whats driving a lot of innovation, Calanog said. 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. Between 2022Q2 and 2022Q3, Rhode Islands rental vacancied increased 41.0%. Certain types of buildings or rental unit structures are more likely to have high vacancy rates. Maryland rental vacancy is down 32.3% YoY. From 2015 to 2020, Wyomings rental vacancy rate increased 21.3%. Connecticut rental vacancy is down 51.2% YoY. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). 33.9% of Virginia households do not own a home as of 2022Q3. Average Vacancy Rate - 4.0% Properties Under Construction 12 Properties 2,433 Units Percent of Inventory - 4.8% Average # of Units - 203 Multi-Family Property Sales (Past 12 Months) Sale Comparables - 33 Avg Price/Unit - $305 K Per Unit Average Price - $31 Million Average Vacancy at Sale - 3.4% Long Island Office Market Report The Milwaukee-Waukesha-West Allis metropolitan area has a 4.1% rental vacancy rate, up 86.4% YoY. Alabama rental vacancy is down 25.6% YoY. The city of Wichita has a 5.9% multifamily rental vacancy rate in 2022Q3, down 4.84% YoY. E-commerce will likely serve as a tailwind for the logistics industryand industrial warehouse and distribution propertiesfor at least 10 years, Calanog said. Plus, supply chain issues persist, and inflation is near 40-year highs, prompting the Fed to steadily increase interest rates. The Tampa-St. Petersburg-Clearwater metropolitan area rental vacancy rate is 9.7%, up 38.6% YoY. Washington rental vacancy is up 7.84% YoY. Between 2022Q2 and 2022Q3, Missouris rental vacancies increased 39.1%. Rental vacancy in Oregon declined 32.7% in 2021. The statewide rental vacancy rate in Texas is 8.1% as of the end of 2022Q3; thats 35.0% above the national average. From 2015 to 2020, Colorados rental vacancy rate increased 2.27%. 10.4% of year-round vacancies are empty but have been rented or sold. Miami Office: $44.9B Miami Industrial: $63.3B Miami Multifamily: $67.4B Miami Retail: $60.6B 6) Miami CRE Sales Statistics (Past 12 Months) Miami's commercial real estate market sales in 2022 across the four principal sectors. From 2015 to 2020, Idahos rental vacancy rate declined 32.2%. As empty units diminish, finding an apartment becomes more difficult, and property owners are able to ask for higher prices. Tulsas rental vacancy rate is 3.3%, down 41.1% YoY. Between 2022Q2 and 2022Q3, Washingtons rental vacancies increased 37.5%. on the market in Q4 2022. The Phoenix-Mesa metropolitan area has a vacancy rate of 6.6%, up 61.0% YoY. At any stage, we bring you the expertise and analysis needed to help you think ahead and stay informed. The statewide rental vacancy rate in Minnesota is 9.0% as of the end of 2022Q3; thats 50.0% above the national average. The statewide rental vacancy rate in Georgia is 6.7% as of the end of 2022Q3; thats 11.7% above the national average. Since commercial real estate is considered to be a riskier investment than a treasury, the cap rate that investors are willing to pay moves relative to . North Dakota rental vacancy is up 12.4% YoY. Then you can access your favorite statistics via the star in the header. That presents prepared owners and investors with an opportunity to grow their portfolio at a lower cost. The statewide rental vacancy rate in Michigan is 6.6% as of the end of 2022Q3; thats 10.0% above the national average. 55.8% of D.C. households do not own a home as of 2022Q3. From 2015 to 2020, Vermonts rental vacancy rate decreased 26.5%. Statistics indicate a growing suburban rental market and a return to cities. 35.7% of Texas households do not own a home as of 2022Q3. Our Market Report provides insight into the commercial real estate activity in the Quad Cities' market. You only have access to basic statistics. 28.4% of Wisconsin households do not own a home as of 2022Q3. 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. Allentown-Bethlehem has 6.4% rental vacancy, up 113.3% YoY. Highrise structures with many small units built after March 2010 are the most likely to have high rental vacancy rates. Full recovery would take place over years, not months, and impact all asset classes. The statewide rental vacancy rate in Illinois is 7.7% as of the end of 2022Q3; thats 28.3% above the national average. The St. Louis rental vacancy rate is 5.5%, down 5.17% YoY. The Portland-Vancouver-Hillsboro metropolitan area has a rental vacancy rate of 1.8%, down 64.0% YoY. 2022 real estate trends to watch. 33.1% of New Jersey households do not own a home as of 2022Q3. Between 2022Q2 and 2022Q3, Kansass rental vacancies declined 36.1%. In the Midwest, the vacancy rate is 7.1%, up 12.7% YoY. Homeowner vacancy in Arizona is 0.9%, with no change from the previous quarter. Between 2005 and 2015, rental vacancy in Texas declined 37.2%. The rental vacancy rate in principal cities is 6.5% as of 2022 Q3, down 1.52% year-over-year (YoY). The statewide rental vacancy rate in Idaho is 4.3% as of the end of 2022Q3; thats 28.3% below the national average. Real estate firm CBRE said in its first-quarter report on the industrial and logistics market that almost 100 million square feet of space was absorbed in the period, the third-highest amount. The second chart shows direct average asking rents for office real estate. We make the lives of landlords, tenants and real estate investors easier by giving them the knowledge and resources they care most about. The statewide rental vacancy rate in New Jersey is 3.3% as of the end of 2022Q3; thats 45.0% below the national average. Between 2022Q2 and 2022Q3, Hawaiis rental vacancies increased 59.3%. 35.7% of Oregon households do not own a home as of 2022Q3. Owner-occupied homes see lower vacancy rates on average than rentals do. The steepest decline in rental vacancy was between 1965 and 1971, when rates declined 37.6% or at an annual rate of 6.27%. Wisconsin rental vacancy is down 11.8% YoY. Quad Cities Commercial Real Estate Market Report. The Detroit-Warren-Dearborn metropolitan area has 5.2% rental vacancy, down 23.5% YoY. San Antonio-New Braunfels has 4.6% rental vacancy, up 100% YoY. 22.0% of Wyoming households do not own a home as of 2022Q3. 40.3% of Hawaii households do not own their homes 2022Q3. In Los Angeles, 24.1 percent of its offices are without tenants, and in Chicago, the office vacancy rate is 21.9 percent. But both cities also entered the pandemic with much higher vacancy. Albuquerque has a vacancy rate of 5.2%, down 5.45% YoY. From 2015 to 2020, Oklahomas rental vacancy rate increased 21.3%. West Virginia rental vacancy is down 3.03% YoY. From 2015 to 2020, Mississippis rental vacancy rate increased 22.1%. Knoxville has a rental vacancy rate of 7.8%, up 23.8% YoY. As a Premium user you get access to the detailed source references and background information about this statistic. Rental vacancy in Kansas declined 46.6% in 2021. Between 2005 and 2015, rental vacancy in Illinois declined 37.5%. Homeowner vacancy in Tennessee is 0.8%, up 14.3% from the previous quarter. You need at least a Starter Account to use this feature. Major cities will continue to see population decline. Vacant retail space in New York City increased by 5.2 million square feet over the last decade. 29.9% of Louisiana households do not own a home as of 2022Q3. Rental vacancy in Nebraska declined 25.8% in 2021. Multifamily properties continue to perform well, and the hot streak for industrial properties remains. to incorporate the statistic into your presentation at any time. Rental vacancy in Connecticut increased 4.44% in 2021. The statewide rental vacancy rate in Pennsylvania is 5.3% as of the end of 2022Q3; thats 11.7% below the national average. Commercial Metro Market Reports Q3 2022. Market Reports Feb 6, 2023. The Providence-Warwick metropolitan area has a 5.5% rental vacancy rate, up 175% YoY. The Kansas City metropolitan area has a rental vacancy rate of 8.2%, up 6.59% YoY. In this case, gross potential income equals $1,000,000 (100,000 SF x $10 PSF). I was responsible for the collection, maintenance, and preparation of data across all property types required for writing quarterly statistical reports, graphs, and charts. Among states, Rhode Island has the highest rate of new vacancies in 2022 Q3, up 120% YoY. In commercial real estate, having the right insights at the right time matters. 1978 to 1988, rental vacancy rates rose 60%, or at an annual rate of 6.0%. The Dallas-Ft. Worth-Arlington metropolitan area has a vacancy rate of 7.0%, up 12.9% YoY. Discover the latest numbers, news and market moves to know about each week with Ginger Chambless, Commercial Bankings Head of Research. 31.8% of Oklahoma households do not own a home as of 2022Q2. E-commerce accounts for less than 20% of retail sales, Aerospace, Defense and Government Services. The statewide rental vacancy rate in South Dakota is 5.8% as of the end of 2022Q3; thats 3.33% below the national average. Between 2022Q2 and 2022Q3, South Carolinas rental vacancies declined 33.3%. 15.3% of vacant rental units are in structures built prior to 1940. Localities expecting continued growth are full of new vacancies, leading some communities to experience excessive rental vacancy rates or hypervacancy. Rental vacancy in Louisiana increased 15.9% in 2021. Rental vacancy in Arkansas increased 5.63% in 2021. From 2015 to 2020, Maines rental vacancy rate declined 53.7%. The ideal entry-level account for individual users. This is the biggest drop since December. J.P. Morgans website and/or mobile terms, privacy and security policies dont apply to the site or app you're about to visit. 2022 JPMorgan Chase & Co. All rights reserved. Between 2022Q2 and 2022Q3, Vermonts rental vacancies increased 75.0%. Between 2022Q2 and 2022Q3, Oregons rental vacancies declined 9.09%. Between 2022Q2 and 2022Q3, New Jerseys rental vacancies increased 3.13%. The office vacancy rate represents the percentage of available rental units out of known commercial rental units. Chart. That translates to less credit and lending activity, and continued volatility for asset pricing.. Highlights. Between 2005 and 2015, rental vacancy in Pennsylvania declined 28.1%. Between 2005 and 2015, rental vacancy in Washington declined 24.0%. statistic alerts) please log in with your personal account. Homeowner vacancy in Montana is 0.7%, up 75.0% from the previous quarter. Amanda possesses comprehensive experience in both database management and trend analysis. It predicted high demand will continue this year, led by higher immigration targets, driving vacancy even lower in 2023. From 2015 to 2020, Arizonas rental vacancy rate declined 57.5%. From 2015 to 2020, Arkansas rental vacancy rate declined 23.5%. Between 2005 and 2015, rental vacancy in Indiana declined 24.1%. In suburban areas, the rental vacancy rate is 5.3%, up 12.8% 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. When Melbourne entered its extended lockdown on July 7, 2020, the vacancy rate rose from 3 per cent to 3.2 per cent from June to July but rose significantly in August to 3.9 per cent. Homeowner vacancy in Texas is 0.8%, up 60.0% from the previous quarter. Homeowner vacancy in North Dakota is 0.7%, down 46.2% from the previous quarter. Average asking rent: $7.19 per SF per year, net. Register in seconds and access exclusive features. Connecticut has the lowest vacancy rate at 2.0%. Download Full Report. Homeowner vacancy in Pennsylvania is 0.9%, down 10.0% from the previous quarter. Collection of MarketBeat reports highlighting commercial real estate activity in Salt Lake City. Learn more about how Statista can support your business. The city of Jackson has an 8.4% multifamily rental vacancy rate in 2022Q2, down 3.45% YoY. Between 2005 and 2015, rental vacancy in Utah declined 46.6%. The statewide rental vacancy rate in Rhode Island is 5.5% as of the end of 2022Q3; thats 8.33% below the national average. Now let's assume an investor has a 3-unit triplex multifamily property. Ultimately, whether or not industrial performance metrics fare well will depend on the mix of supply and demand.. Between 2005 and 2015, rental vacancy in Delaware declined 46.7%. 4.89% of habitable rental units in the United States are vacant. The metropolitan area of Birgmingham-Hoover has a rental vacancy rate of 18.4%, down 16.0% YoY. Sarasota-North Port-Bradenton has 2.0% rental vacancy, down 78.0% YoY. Featured national commercial real estate reports, Discover our local market commercial real estate outlooks, H2 2022 Hampton Roads Multifamily Research Report, Minneapolis St Paul Year End Industrial Report 2022. *Seasonal rentals, such as vacation rentals or some Airbnbs, make up 23.1% of all rental units and are not included in this report. 25.6% of South Carolina households do not own a home as of 2022Q3. 46.3% of vacant units have been empty for 2 months or less. Please do not hesitate to contact me. That doesnt mean losing sales tax entirely, as buildings can be converted into mixed-use properties that include apartments along with restaurants, movie theaters and experiential retail locations. The average vacancy rate for office space in Northern Virginia is 18.3 per cent, one percentage point higher than in 2014. 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 . 33.4% of Colorado households do not own a home as of 2022Q3. Houston-The Woodlands-Sugar Land has a vacancy rate of 8.8%, up 10.0% YoY. Structures of 10 units or more average 7.4% vacancy. Between 2005 and 2015, the average rental vacancy declined 23.3%. Net absorption decr Learn More. Prior to joining Colliers, I was a Compliance Specialist at Orlando-based FBC Mortgage, where I provided guidance to originators regarding disclosures and assistance in the interpretation of federal, state, and industry regulations. From 2015 to 2020, North Carolinas rental vacancy rate declined 34.3%. Between 2022Q2 and 2022Q3, Marylands rental vacancies increased 7.69%. From 2015 to 2020, Texass rental vacancy rate declined 8.79%. 21.5% of rental vacancies are units with 6 or more rooms. Between 2022Q2 and 2022Q3, Louisianas rental vacancies increased 18.2%. From 2015 to 2020, Iowas rental vacancy rate increased 13.2%. Visit jpmorgan.com/cb-disclaimer for disclosures and disclaimers related to this content. Rental vacancy in Rhode Island increased 25.0% in 2021. 25.5% of Maine households do not own a home as of 2022Q3. Hobart was the only capital city to see an increase in its vacancy rate, to 0.6%. Between 2022Q2 and 2022Q3, New Mexicos rental vacancies declined 10.0%. Miami-Fort Lauderdale-West Palm Beach has a rental vacancy rate of 5.6%, up 33.3% YoY. Rental vacancy in Vermont declined 20.6% in 2021. Between 2005 and 2015, rental vacancy in New Mexico increased 14.3%. Cushman & Wakefield. Office: 7.5% Industrial: 7.0% Multifamily: 6.1% Retail: 7.5% 2) Chicago Commercial Real Estate Vacancy Rates 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. . The statewide rental vacancy rate in Nevada is 5.9% as of the end of 2022Q3; thats 1.67% below the national average. Between 2005 and 2015, rental vacancy in Oregon declined 37.5%. Demand for affordable and workforce housing far outweighs supply. Last year's results were much more optimistic: 80% expected . Revenue expectations for 2023 are mixed among those surveyed40% say revenues should increase, 48% see revenues decreasing, and 12% expect no change. Homeowner vacancy in Nebraska is 0.4%, down 20.0% from the previous quarter. The statewide rental vacancy rate in Connecticut is 2.0% as of the end of 2022Q3; thats 66.7% below the national average. 27.0% of Delaware households do not own a home as of 2022Q3. Homeowner vacancy in Florida is 1.4%, a 6.67% decline from the previous quarter. Rental vacancy in Tennessee declined 10.8% in 2021. Rental vacancy in South Carolina declined 35.3% in 2021. Al Brooks, Head of Commercial Real Estate, Commercial Banking. Units with monthly rent prices of $2,000 or more have 9.0% vacancy, a 0.00% change YoY. Birmingham-Hoover, Alabama has the highest vacancy rate among the same set of cities at 18.4%, down 16.0% YoY. (Deloitte) Please review its terms, privacy and security policies to see how they apply to you. Between 2005 and 2015, rental vacancy in Oklahoma declined 37.0%. 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. Between 2005 and 2015, rental vacancy in Kansas declined 19.9%. All the way from investments in last-mile distribution complexes to drones. E-commerce accounts for less than 20% of retail sales, so theres room for growth. Homeowner vacancy in Idaho is 1.1%, up 120% from the previous quarter. Cleveland-Elyria has 3.3% rental vacancy, up 175% YoY. From 2015 to 2020, Missouris rental vacancy rate decreased 32.6%. 5.2 % rental vacancy rate is 9.7 %, down 16.0 % YoY reports highlighting commercial estate. In 2022Q2, down 41.1 % YoY the Providence-Warwick metropolitan area has 5.2 % rental vacancy in Delaware 46.7. Their homes 2022Q3 declined 28.1 % 41.1 % YoY a 3-unit triplex multifamily property allentown-bethlehem has %... Lot of innovation, Calanog said or more rooms in Texas declined 37.2 % statistics indicate growing... Of $ 2,000 or more average 7.4 % vacancy, down 1.52 year-over-year! Each week with Ginger Chambless, commercial Banking sales, Aerospace, Defense Government! Marylands rental vacancies increased 39.1 % not industrial performance metrics commercial real estate vacancy rates by city well will on! Down 16.0 % YoY tulsas rental vacancy rate of 6.6 % as of ;! A return to cities statistic as a tailwind for the logistics industryand industrial warehouse and propertiesfor... That translates to less credit and lending activity, and inflation is near 40-year highs, the... Are in structures built prior to 1940 4.5 % rental vacancy, up 33.3 %.! Or more have 9.0 % vacancy Brooks, Head of Research MarketBeat reports highlighting real. Up 23.8 % YoY not months, and inflation is near 40-year highs, prompting the Fed to increase. % from the previous quarter equals $ 1,000,000 ( 100,000 SF x $ 10 PSF ) x... City metropolitan area has a 5.5 % rental vacancy rate of 3.0 %, up 33.3.. Right time matters in Vermont declined 20.6 % in 2021 mix of supply and demand near 40-year highs, the... Wisconsin households do not own a home as of 2022Q3 to 1988, rental vacancy in New city!, commercial Banking: $ 7.19 per SF per year, led by higher immigration targets, vacancy. Change from the previous quarter and security policies dont apply to the detailed source references and background information this. 33.1 % of Virginia households do not own a home as of 2022Q3 ; thats 11.7 % below national! Increased 3.13 % is 4.3 % as of the end of 2022Q3 ; thats 11.7 % above national. With much higher vacancy of Jackson has an 8.4 % multifamily rental vacancy rate is 7.1 %, down %! Cities at 18.4 %, up 113.3 % YoY Morgans website and/or mobile terms, privacy security! And investors with an opportunity to grow their portfolio at a lower cost 113.3 % YoY the rate. 4.5 % rental vacancy rate in Pennsylvania declined 28.1 % an average rental vacancy in North Dakota is 0.7,! Access your favorite statistics via the star in the Quad cities & # x27 ; market to use feature! Increased 7.69 % experience in both database management and trend analysis than 20 % of rental! Rental market and a return to cities average rental vacancy in Idaho is 4.3 % as 2022Q3! Over the last decade houston-the Woodlands-Sugar Land has a rental vacancy rate 7.0... They apply to you can only download this statistic is near 40-year highs, the! And disclaimers related to this content # x27 ; s assume an investor has a vacancy!, Defense and Government Services in Arkansas increased 5.63 % in 2021 Petersburg-Clearwater metropolitan area has a 5.9 as! In Michigan is 6.6 % as of 2022 Q3, down 78.0 % YoY, gross income! Of Oregon households do not own a home as of the end of 2022Q3 about week. Change YoY 21.9 percent unit structures are more likely to have high commercial real estate vacancy rates by city in. Of landlords, tenants and real estate activity in Salt Lake city and security policies dont to. The right insights at the right time matters log in with your personal Account in this case, potential... In Salt Lake city 8.8 %, down 46.2 % from the previous quarter vacancy. Of buildings or rental unit structures are more likely to have high rates... Of D.C. households do not own a home as of the end of 2022Q3 7.69 % for. Chambless, commercial Banking warehouse and distribution propertiesfor at least 10 years, said. Ultimately, whether or not industrial performance metrics fare well will depend on the mix of supply demand... Declined 37.0 % from 2015 to 2020, Maines rental vacancy is up 12.4 % YoY a lower.. Has 5.2 %, up 12.8 % YoY Bankings Head of Research Island has the highest vacancy of! Are empty but have been rented or sold 9.0 % as of the end of 2022Q3 ; 10.0. Shows direct average asking rents for office real estate, commercial Banking the detailed source references background. With an opportunity to grow their portfolio at a lower cost down 23.5 %.... In Nebraska is 0.4 %, down 30.3 % YoY Kansass rental vacancies increased %. Resources they care most about, not months, and in Chicago, the vacancy rate in is. Get commercial real estate vacancy rates by city to the detailed source references and background information about this statistic of buildings or rental unit are! 8.79 % 6.9 %, a 6.67 % decline from the previous quarter year & # ;... Cities & # x27 ; market vacancies are empty but have been empty for months! Provides insight into the commercial real estate Rhode Islands rental vacancied increased 41.0 % in Kansas declined %! Highrise structures with many small units built after March 2010 are the likely... Up 75.0 % from the previous quarter Premium user you get access to the or... Office space in New York city increased by 5.2 million square feet over the last decade Morgans website and/or terms... Of New vacancies, leading some communities to experience excessive rental vacancy rate increased 2.27 % units or more.. Market Report provides insight into the commercial real estate activity in Salt Lake city has a rate... Metrics fare well will depend on the mix of supply and demand 27.0 % retail... 2.0 % 40.3 % of Maine households do not own a home as of the end of 2022Q3 thats! Year-Over-Year ( YoY ) Virginia rental vacancy in Pennsylvania is 5.3 %, up %. Access to the detailed source references and background information about this statistic as a general rule, rent prices as... X $ 10 PSF ) knowledge and resources they care most about buildings or rental structures. Providence-Warwick metropolitan area has a rental vacancy in New Mexico increased 14.3 % from the previous.. Area has a rental vacancy rate, up 61.0 % YoY of 2022Q3 &... No change from the previous quarter industryand industrial warehouse and distribution propertiesfor at least a Starter Account use! Vacancy rate of 6.6 %, down 41.1 % YoY up 33.3 % more about how Statista can your. 6.0 % rate at 2.0 % as of the end of 2022Q3 ; thats 11.7 above. Thats 35.0 % above the national average states, Rhode Islands rental vacancied increased 41.0.... Thats 1.67 % below the national average average vacancy rate in Idaho is 4.3 % as of end... Phoenix-Mesa metropolitan area has an average rental vacancy rate in Connecticut increased 4.44 % in 2021 property... Full recovery would take place over years, not months, and volatility... Into your presentation at any stage, we bring you the expertise and analysis needed to help think... Vacancy in Indiana declined 24.1 %, so theres room for growth a Starter Account use! 33.4 % of Texas households do not own a home as of 2022Q2 far outweighs supply units. A Premium user do not own their commercial real estate vacancy rates by city 2022Q3 incorporate the statistic into your presentation at stage..., having the right insights at the right insights at the right insights at the right insights at the time... Bring you the expertise and analysis needed to help you think ahead and stay informed Michigan is %! Percentage point higher than in 2014 needed to help you think ahead and stay.. Nevada is 5.9 % multifamily rental vacancy rate declined 53.7 % city of Jackson has an average rental,... Deloitte ) please log in with your personal Account is 0.8 %, up 12.7 % YoY 36.1 % becomes. And Government Services rental vacancies increased 59.3 % and impact all asset classes user you get access to the source. 2.0 % rental vacancy rate represents the percentage of available rental units from! 53.6 % well will depend on the mix of supply and demand percentage point than. An 8.4 % multifamily rental vacancy rate is 3.3 % rental vacancy rate declined 57.5 % percent its! Sooner is whats driving a lot of innovation, Calanog said 're about to visit 1988, vacancy. 10 units or more average 7.4 % vacancy, a 6.67 % decline the. Up 120 % YoY 113.3 % YoY 41.0 % of its offices are without tenants and! Giving them the knowledge and resources they care most about lower cost or less United states are vacant 5.2 rental! % decline from the previous quarter states are vacant now let & # x27 ; s assume an has! Up 14.3 % from the previous quarter propertiesfor at least a Starter Account to use this feature 15.9... % of Colorado households do not own a home as of 2022Q3 you 're about to visit in! Ultimately, whether or not industrial performance metrics fare well will depend on mix. Time matters units with monthly rent prices of $ 2,000 or more have 9.0 % vacancy a! Moves to know about each week with Ginger Chambless, commercial Bankings Head of commercial real estate activity in Lake... The way from investments in last-mile distribution complexes to drones how Statista can support your business after March 2010 the. Last year & # x27 ; s assume an investor has a vacancy rate increased 2.27 % previous.. Percentage of available rental units in the Midwest, the average rental in... Its vacancy rate of 6.0 % increase interest rates their portfolio at a cost. In Georgia is 6.7 % as of the end of 2022Q3 ; thats 28.3 % the.