US Residential Vacancies and Homeownership Data Released for Q3

The national vacancy rate in 22Q3 was 6.0% for rental housing and 0.9% for homeowner housing. The rental vacancy rate was not statistically different from the rate in 21Q3, when it was at 5.8%, but it is 0.4 percentage points higher than the rate of 5.6% in 22Q2. The homeowner vacancy rate of 0.9% was virtually the same as in 21Q3, when it was at 0.9%, and little changed from 22Q2, when it was at 0.8%.

The homeownership rate of 66.0% was 0.6 percentage points higher than in 21Q3, when it was at 65.4%, and not statistically different from the rate of 65.8% in 22Q2.

According to the Census Bureau, in 22Q3, approximately 89.3% of the housing units in the US were occupied, while 10.7% were vacant. Owner-occupied housing units made up 59.0% of total housing units, while renter-occupied housing units made up 30.3% of the inventory. Vacant year-round units comprised 8.2% of total housing units, while 2.5% were vacant for seasonal use.

Approximately 2.0% of the total units were vacant for rent, 0.5% were vacant for sale and only 0.7% were rented or sold but not yet occupied. Vacant units that were held off market comprised 5.0% of the total housing stock—1.5% were for occasional use, 0.8% were temporarily occupied with usual residence elsewhere and 2.7% were vacant for variety of other reasons.