Portland-Vancouver-Beaverton Vacancy Rates Nation's 8th Lowest

The U.S. Census Bureau reports that the Portland/Vancouver metro area's vacancy rate increased from 2.9 percent in the fourth quarter of 2011 to 4.2% in the first quarter of 2012, tied at the nation's eighth lowest.

Seattle-Tacoma-Bellevue, WA had a Q1 2012 vacancy estimate of 4.6 percent, down from 5.8 percent the prior quarter and tied for the nation's 9th lowest.

National average vacancy rates in the first quarter 2012 were 8.8 percent for rental housing and 2.2 percent for homeowner housing, the Department of Commerce’s Census Bureau announced today.

The nation's 10 lowest vacancy rates were:

• Rochester, NY - 1.3
• Bakersfield, CA - 1.5
• Oxnard-Thousand Oaks-Ventura, CA - 2.0
• Milwaukee-Waukesha-West Allis, WI  - 3.3
• San Jose-Sunnyvale-Santa Clara, CA - 3.5
• San Francisco-Oakland-Fremont, CA 3.6 - (Tie)
• Springfield, MA 3.6 - (Tie)
• Charlotte-Gastonia-Concord, NC-SC 4.0 - (Tie)
• Grand Rapids-Wyoming, MI 4.0 - (Tie)
• Los Angeles-Long Beach-Santa Ana, CA 4.2 - (Tie)
• Portland-Vancouver-Beaverton, OR-WA 4.2 - (Tie)
• Baton Rouge, LA 4.6 - (Tie)
• Seattle-Tacoma-Bellevue, WA 4.6 - (Tie)
• Worcester, MA 4.6 - (Tie)
• Alburquerque, NM 4.9 - (Tie)
• Fresno, CA 4.9 - (Tie)
• Pittsburgh, PA 4.9 - (Tie)

The MSA's with the five highest vacancy rates were as follows:

• Orlando, FL - 22.0
• Detroit-Warren-Livonia, MI - 19.1
• Richmond, VA - 19
• New Orleans-Metairie-Kenner, LA - 15.8
• St Louis, MO-IL - 15.6
• Indianapolis, IN - 14.9

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