Tuesday, October 28, 2014

U.S. Census: Portland Apartment Market Vacancy At 4.8%

The US Census bureau reported today that the Portland area's Q3 2014 vacancy rate was 4.8%, up from 2.1% a year earlier. The report comes on the heels of an October 15th MultifamilyNW Apartment Report indicating a rise in area vacancies to 3.66%.

Metro areas found to have the lowest vacancy rates included Denver (2.5%), San Francisco (2.8%), San Jose (3.0%), Boston (3.6%), New York (4.0%), Los Angeles (4.3%) and Seattle (4.4).

Meanwhile, U.S. homeownership reportedly fell from 65.3% in Q3 2013 to 64.4%, the lowest in 19 years, and in the West, ownership was at its lowest level in 17 years, at 59.4%.

You can download the entire Census Bureau report here. 

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