by Calculated Risk on 10/08/2021 11:08:00 AM
Reis reported that the apartment vacancy rate was at 4.7% in Q3 2021, down from 5.3% in Q2, and down from 5.1% in Q3 2020. The vacancy rate peaked at 8.0% at the end of 2009, and bottomed at 4.1% in 2016.
This graph shows the apartment vacancy rate starting in 1980. (Annual rate before 1999, quarterly starting in 1999).
Reis also reported the asking rents were up 7.5% year-over-year, compared to up 1.2% in Q2.