US Census Bureau Releases 2023Q1 Quarterly Residential Vacancies and Homeownership Report
On Wednesday, the US Census Bureau released its Quarterly Residential Vacancies and Homeownership Report for 2023Q1. According to the report, the US national vacancy rate in Q1 was 6.4% for rental housing and 0.8% for homeowner housing. The rental vacancy rate was higher than the rate in 2022Q1, when it was 5.8%, and higher than the 2022Q4 rate, which was also 5.8%.
The Census Bureau notes that the homeownership vacancy rate of 0.8% was virtually same as in both 2022Q1 and 2022Q4. The homeownership rate of 66.0% was not statistically different from the 2022Q1 rate of 65.4%, nor statistically different from the 2022Q4 rate of 65.9%.
In Q1, the median asking rent for vacant for rent units was $1,462. The median asking sales price for vacant for sale units was $319.000.
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