The statewide rental vacancy rate in Maryland is 4.2% as of the end of 2022Q3; thats 30.0% below the national average. The national retail (all retail) vacancy rate has drifted upward since late 2018 (see the chart). From 2015 to 2020, Texass rental vacancy rate declined 8.79%. In Los Angeles, 24.1 percent of its offices are without tenants, and in Chicago, the office vacancy rate is 21.9 percent. Learn more about how Statista can support your business. Worcester has 1.8% rental vacancy, up 260% YoY. 33.5% of Arkansas households do not own a home as of 2022Q3. But it has continued to be weighed down because fewer people are working in downtown offices.. From 2015 to 2020, Nevadas rental vacancy rate decreased 2.56%. Currently, you are using a shared account. Between 2005 and 2015, rental vacancy in Alabama increased 8.94%. New leases for over 9.1 million square feet of industrial space in Minneapolis were signed as of Q3 2021. As a Premium user you get access to background information and details about the release of this statistic. 33.1% of New Jersey households do not own a home as of 2022Q3. 31.6% of Florida households do not own a home as of 2022Q3. Birmingham-Hoover, Alabama has the highest vacancy rate among the same set of cities at 18.4%, down 16.0% YoY. Between 2022Q2 and 2022Q3, South Carolinas rental vacancies declined 33.3%. From 2015 to 2020, rental vacancy declined 50.8%. From 2015 to 2020, North Dakotas rental vacancy rate increased 31.2%. 27.5% of Mississippi households do not own a home as of 2022Q3. Interest rates will remain low throughout 2021. . From 2015 to 2020, Pennsylvanias rental vacancy rate decreased 1.22%. Buildings with 10-or-more units account for 33.1% of all rental vacancies. As soon as this statistic is updated, you will immediately be notified via e-mail. Last year's results were much more optimistic: 80% expected . Improve your working capital, reduce fraud and minimize the impact of unexpected disruptions with our treasury solutionsfrom digital portals to integrated payables and receivablesall designed to make your operations smoother and more efficient. In some cases, the right location with the right amenitiesthink optimizing floorplans for collaboration, offering private outdoor space and adding onsite services such as childcare and cateringmay bring employees back to the office. Office vacancy rates across the country stand at a record 19.1 percent, with Chicago, Houston and San Francisco running above 20 percent, according to Jones Lang LaSalle, a commercial real. However, while they are both important, they measure different things and can give you additional insights into the market. Rental vacancy in Alabama increased 25.0% in 2021. Between 2022Q2 and 2022Q3, Montanas rental vacancies declined 30.6%. Our Market Report provides insight into the commercial real estate activity in the Quad Cities' market. 40.6% of Nevada households do not own a home as of 2022Q3. Between 2005 and 2015, rental vacancy in Montana declined 60.7%. Jump to a state: AL | AK | AZ | AR | CA | CO | CT | DE | DC | FL | GA | HI | ID | IL | IN | IA | KS | KY | LA | ME | MD | MA | MI | MN | MS | MO | MT | NE | NV | NH | NJ | NM | NY | NC | ND | OH | OK | OR | PA | RI | SC | SD | TN | TX | UT | VT | VA | WA | WV | WI | WY. Virginia Beach-Northfolk-Newport News has 3.0% rental vacancy, down 57.1% YoY. South Dakota rental vacancy is down 42.0% YoY. There are extensive statistics on the Housing and Urban Development population, households and families, housing occupancy and vacancy, housing sales, construction costs, and mortgage financing. Efficiencies and 1-bedroom apartments make up 4.6% of rental vacancies. + Follow. Total office inventory: 48,770,948 SF. Collection of MarketBeat reports highlighting commercial real estate activity in Salt Lake City. Rental vacancy in D.C. declined 23.2% in 2021. Between 2022Q2 and 2022Q3, Idahos rental vacancies increased 13.2%. West Virginia rental vacancy is down 3.03% YoY. Between 2022Q2 and 2022Q3, Iowas rental vacancies increased 32.3%. Between 2022Q2 and 2022Q3, Alabamas rental vacancies increased 34.8%. Please review its terms, privacy and security policies to see how they apply to you. The average vacancy rate for office space in Northern Virginia is 18.3 per cent, one percentage point higher than in 2014. In the second quarter of this year, the commercial. Available: https://www.statista.com/statistics/1200151/vacancy-rate-shopping-center-real-estate-usa-by-city/, Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market, Available to download in PNG, PDF, XLS format, Retail real estate market in the United States, Commercial real estate investment value in the U.S. 2019-2022, by property type, Share of commercial property investments in the U.S. 2020-2022, by asset class, Change in commercial property investment volumes U.S. 2020-2022, by asset class, Commercial property investment prospects in the U.S. 2017-2023, Commercial development prospects in the U.S. 2017-2023, Total return REITs in the U.S. 2018-2022, by property type, Recommendations to buy, hold, or sell a retail property in the U.S. 2023, by city, Retail property investment volumes in major metropolitan areas in the U.S. 2022, Leading retail property markets in the U.S. 2020, by number of deals, Retail property transactions volume in the U.S. 2020, by property type, Volume of shopping center property in the U.S. 2022, by region, Retail property leasing activity distribution in the U.S. Q1 2022, by type, Shopping center property net absorption in the U.S. Q3 2019-Q1 2022, Shopping center property net absorption in the U.S. 2020-2022, by region, Shopping center property net absorption in the U.S. 2020, by market, Shopping center property vacancy rate U.S. Q3 2019-Q1 2022, Shopping center property vacancy rate in the U.S. 2020-2022, by region, Retail space closures in the U.S. 2016-2020, Delinquent retail loans during COVID-19 in large U.S. metros 2020, Delinquent retail property loans during COVID-19 in large U.S. metros 2020, Delinquent rate of retail space during COVID-19 in large U.S. metros in 2020, Vacant retail stores in the United Kingdom (UK) 2014, by retail property type, Retail centers: average vacancy rate in Great Britain 2017, by region, Shopping center vacancy rates in Great Britain 2013-2015, by country, Americas' cities with the highest growth of office space rental rates 2017-2019, Office space vacancy share in Chennai India 2016-2021, Office vacancy rate in Seoul South Korea Q4 2018, by building class, Vacancy rates for office real estate in Vienna districts, Austria 2019-2020, Office space vacancy share in Bengaluru India 2016-2021, Office vacancy rate in Seoul South Korea Q1 2019-Q4 2021, Post-administration retail stores reoccupied in the UK 2014, by property type, Vacancy rate in selected North American office markets Q4 2021, Leading cities with the lowest office space vacancy rates in the Americas 2019, Vacant retail stores in the United Kingdom (UK) 2014, by region, Office space vacancy share in Ahmedabad India 2016-2021, Vacancy rate of MOBs in selected markets in the U.S. 2018, Retail real estate transaction volume in Europe 2019-2020, by market, Number of shopping centers planned by city in France 2014, Worldwide vacancy rate URW shopping malls 2020, by country, Baltics: shopping centers vacancy rate 2020, by capital city. Before 2020, the quarterly vacancy rate was around 12 percent but as the. To use individual functions (e.g., mark statistics as favourites, set In the Manchester metropolitan area, the multifamily rental vacancy rate is 2.4% in 2022Q3, up 60.0% YoY. He has an expert knowledge of manyCRE markets across the U.S. Having worked with brokerage firms, asset managers and data providers he has a broad spectrum of experience and is adept in forecasting, analysis and strategy. 22.2% of West Virginia households do not own a home as of 2022Q3. In the Midwest, the vacancy rate is 7.1%, up 12.7% YoY. The statewide rental vacancy rate in Alabama is 9.3% as of the end of 2022Q3; thats 55.0% above the national average. In the Northeast, the vacancy rate is 4.0%, down 6.98% YoY. Rental vacancy in Delaware increased 7.84% in 2021. The Portland-South Portland metropolitan area has a 4.5% multifamily rental vacancy rate in 2022Q3, down 8.16% YoY. The number of continuing claims, which includes those who have already received unemployment benefits for a week or more, also decreased by 37,000 to 1.65 million in the week ended Feb. 11. Read all about Mark Kolsrud and Peter Loehrers 2022 review and 2023 predictions. Homeowner vacancy in Alabama is 0.8%, with no change from the previous quarter. The overall vacancy rate, including sublease, increased 80 bps quarter-over-quarter (QOQ) and increased 140 bps YOY from 17.9% to 19.3% in Q4 2022. . Tulsas rental vacancy rate is 3.3%, down 41.1% YoY. I was responsible for the collection, maintenance, and preparation of data across all property types required for writing quarterly statistical reports, graphs, and charts. 27.4% of Missouri households do not own a home as of 2022Q3. From 2015 to 2020, Wyomings rental vacancy rate increased 21.3%. Washington rental vacancy is up 7.84% YoY. The Atlanta-Sandy Springs-Roswell metropolitan area has a rental vacancy rate of 6.5%, up 6.56% YoY. Rental vacancy in West Virginia increased 14.1% in 2021. Hampton Roads Market Demand and Rent Growth End the Year Above National Averages. The Los Angeles-Long Beach-Anaheim metropolitan area has a rental vacancy rate of 5.1%, up 4.08% YoY. The statewide rental vacancy rate in Utah is 5.0% as of the end of 2022Q3; thats 16.7% below the national average. Homeowner vacancy in Arizona is 0.9%, with no change from the previous quarter. The Portland-Vancouver-Hillsboro metropolitan area has a rental vacancy rate of 1.8%, down 64.0% YoY. Plus, supply chain issues persist, and inflation is near 40-year highs, prompting the Fed to steadily increase interest rates. With economists estimating a 2024 vacancy rate to be as high as 53%, investors are struggling to come to terms with the city that once was. In southern states, the rental vacancy rate is 7.3%, up 1.39% YoY as of 2022 Q3. Between 2005 and 2015, rental vacancy in Washington declined 24.0%. Between 2005 and 2015, rental vacancy in New Mexico increased 14.3%. Its important to look at each of these macroeconomic factors: Together, these factors may lead to a mild to moderate recession in 2023. Between 2005 and 2015, rental vacancy in Nebraska declined 47.4%. Buffalo-Cheektowaga-Niagara Falls has a rental vacancy rate of 6.8%, up 518% YoY. From 2015 to 2020, Virginias rental vacancy rate increased 69.2%. From 2015 to 2020, rental vacancy has declined 35.7%. Rental vacancy in Montana increased 20.6% in 2021. Now let's assume an investor has a 3-unit triplex multifamily property. Between 2022Q2 and 2022Q3, Michigans rental vacancies increased 26.9%. Between 2005 and 2015, rental vacancy in North Dakota declined 1.06%. Discover the latest numbers, news and market moves to know about each week with Ginger Chambless, Commercial Bankings Head of Research. 62.5% of rental vacancies are in multifamily units. Is 7.3 %, with no change from the previous quarter year national... 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