The U.S. Census Bureau has reported 4th quarter 2010 vacancy rate estimates for the top 75 U.S. Metropolitan Statistical Areas (MSAs).
The Portland/ Vancouver/ Beaverton area ranks 4th in the nation for vacancies at 3.9 percent. Portland’s Q3 2010 vacancy rate was estimated at 4.8 percent – the new estimate shows a decrease of 0.9 percent over the past 3 months. The Census estimate is dead on with the fall 2010 Metro Multifamily Housing Association vacancy estimate of 4 percent for the Portland/Vancouver metro area.
Seattle-Tacoma-Bellevue, WA had a Q4 2010 vacancy estimate of 6.2 percent and a Q3 vacancy estimate of 8.5 percent, a decrease of 2.3 percent and the nation’s 18th lowest.
The Census Bureau reports the nation’s lowest vacancy rates as follows:
- Grand Rapids-Wyoming, MI – 1.8%
- Alburquerque, NM – 2.6%
- Akron, OH – 3.8%
- Portland-Vancouver-Beaverton, OR-WA – 3.9%
- Nashville-Davidson-Murfreesboro, TN – 4.0%
- Worcester, MA – 4.6%
- Salt Lake City, UT – 5.0%
- Minneapolis-St. Paul-Bloomington, MN-WI – 5.1%
- Rochester, NY – 5.1%
- Bakersfield, CA – 5.4%
The MSA’s with the five highest vacancy rates were as follows:
- Phoenix-Mesa-Scottsdale, AZ -15.5%
- Detroit-Warren-Livonia, MI – 15.6%
- Memphis, TN-AR-MS – 16.1%
- Orlando, FL – 23.6%
- Dayton, OH – 26.4%
