America Counts: Stories Behind the Numbers
Housing Vacancy Rates Near Historic Lows
Housing vacancy rates — both for homeowner and rental housing — are at or near historic lows, according to the U.S. Census Bureau’s recently released Housing Vacancy Survey (HVS).
Vacancy rates for rental housing are lower than at any point during the 35-year period from 1985 until the start of the COVID-19 pandemic in early 2020. The vacancy rate for homeowner housing is lower than at any point from 1980 until early 2020.
The Census Bureau has collected the Housing Vacancy Survey since 1956 (as a supplement to the Current Population Survey) to provide quarterly estimates of the rental vacancy rate and the homeowner vacancy rate.
Both rental and homeowner vacancy rates decreased between 2009 and 2019 as the nation recovered from the foreclosure crisis. Housing supply then tightened further during the COVID-19 pandemic.
Continue reading to learn more about:
- Few homes for sale
- Low rental vacancy
- Foreclosure crisis and recovery
- Pandemic impact
- Before and after COVID
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