Wednesday, August 17, 2011

Census Reports: Portland Q2 Vacancy Rate Falls to 3.5%

U.S. Census Bureau: Portland Metro Scores America's 4th Lowest Apartment Vacancy Rate for 2nd Quarter

The U.S. Census Bureau reports Portland's vacancy rate fell from 4.0 percent to 3.5 percent in the second quarter of 2011, putting it at the nation's fourth lowest vacancy rate among the top 75 U.S. Metropolitan Statistical Areas (MSAs).

Seattle-Tacoma-Bellevue, WA had a Q2 2011 vacancy estimate of 7.5 percent, up from 6.8 percent the prior quarter and the nation's 21st lowest.

The nation's 10 lowest vacancy rates were:
  • Springfield, MA - 1.9%
  • Bridgeport-Stamford-Norwalk, CT - 3.0%
  • San Jose-Sunnyvale-Santa Clara, CA - 3.2%
  • Portland-Vancouver-Beaverton, OR-WA - 3.5%
  • Boston-Cambridge-Quincy, MA-NH - 4.3%
  • Bakersfield, CA - 4.5%  (tie)
  • Milwaukie-Waukesha-West Allis, WI - 4.5% (tie)
  • Rochester, NY  - 4.7% (tie)
  • Worcester, MA - 4.7% (tie)
  • Nashville-Davidson-Murfreesboro, TN - 5.0%
  • Salt Lake City, UT - 5.1%
The MSA's with the five highest vacancy rates were as follows:
  • New Orleans-Metairie-Kenner, LA - 16.5%
  • Birmingham-Hoover, AL - 16.6%
  • Detroit-Warren-Livonia, MI - 17.2%
  • Houston-Baytown-Sugar Land - 17.4%
  • Toledo, OH - 19.3%
Read the full report online