Wednesday, February 2, 2011

Q4 2010 Portland/Vancouver/Beaverton Apartment Vacancy Rate Ranked Nation's Fourth Lowest

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%
Read the full report online.