Seattle Vacancies Nation's 3rd Lowest
Census estimated Seattle-Tacoma-Bellevue's vacancy rate at 1.9% vacancy rate, making it the nation's third lowest. Metro areas with lower vacancies than Seattle were Sacramento (1.2%) and Cape Coral-Fort Myers, Flordia (1.8%).
After Seattle (#3) the remaining lowest vacancy rates were:
Allentown-Bethlehem-EAston, PA-NJ (3.0%)
Charlotte-Concord-Gastonia, NC-SC (3.1%)
Los Angeles-Long Beach-Anaheim, CA (3.6% (TIE)
San Diego-Carlsbad, CA (3.6% - TIE)
Salt Lake City, UT (3.8%)
Grand Rapids-Wyoming, MI (3.9% - TIE)
Portland-Vancouver-Hillsboro, OR-WA (3.9% - TIE)
Average National Rental Vacancy Rate
The average national rental vacancy rate for Q1 2017 was 7.0 percent for multifamily dwellings of five or more units -- the same as one year earlier. Vacancy rates remained lowest in the western U.S. where it declined from 5.1 to 4.7%.
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U.S. Homeownership Rate Continues to Fall
U.S. Homeownership rates have fallen from a recent high of 65.1% at the end of 2013 to an estimated 63.6% in Q1 2017. Homeownership rates in the Western U.S. has been on the upswing since reaching a 26-year low during 2016. The current homeownership rate in the west crept up 0.3% over the past year.
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