Tuesday, April 27, 2010

U.S. Census Bureau Pegs Portland Metro Rental Vacancies at 3.8% - Nation's 2nd Lowest

The U.S. Census Bureau has just reported 1st quarter 2010 vacancy rate estimates for the top 75 U.S. Metropolitan Statistical Areas (MSAs).

The Portland/ Vancouver/ Beaverton area ranks 2nd in the nation for vacancies at 3.8% a 3-way tie with Fresno and Grand Rapids.  Portland's Q4 2009 vacancy rate was estimated at 5.3% - the new estimate shows a drop of 1.5% over the past 3 months.
The Census Bureau reports the nation's lowest vacancy rates as follows:
  • Boston-Cambridge-Quincy, MA-NH - 3.6%
  • Fresno, CA; Grand Rapids, MI; and Portland, Beaverton, Vancouver OR/WA 3.8% (3-way tie)
  • Rochester, NY - 4.8%
  • columbus, OH - 4.9%
  • Oxnard-Thousand Oaks-Ventura, CA - 5.7%
  • El Paso, TX - 6.0%
  • New York-Northern New Jersey-Long Island NY; Raleigh-Cary, NC 6.2% (2-way tie)
  • Oaklahoma City, OK - 6.3%
  • Alburquerque, NM; San Francisco-Oakland-Fremont, CA - 6.5%
The MSA's with the five highest vacancy rates were as follows:
  • Orlando, FL - 20.6%
  • Phoenix-Mesa-Scottsdale, AZ - 19.8%
  • Jacksonville, FL - 19.5%
  • Tulsa, OK - 19.3%
  • Detroit-Warren-Livonia, MI - 17.7%
Read the full report online.