Friday, May 6, 2011

Oregon AND Portland Metro Had Lowest RENTAL Vacancy Rates in US in 1st Quarter, 2011; HO Vacancy Ranks Worse.

Daily Journal of Commerce story is HERE.  

I expanded a bit to create table below that shows vacancy rates and rankings for 1st Qtr 2011-2006 for both rentals and home ownership units.  (Rankings are best to worst among 51 states [includes DC] and 75 largest metro areas].

Table shows both Oregon and Portland Metro had the LOWEST rental vacancy rates in the country in 1st Qtr 2011. (While Oregon's rental vacancy rate is down from same quarter last year, the Portland metro rental vacancy rate actually bumped up slightly from same quarter last year).

For home ownership Oregon's vacancy rate ranked 43rd best [8th worst], and Portland's ranked 36th best in the first quarter of 2011. Important note: Despite the lower relative rankings, vacancy rates for both Oregon and Portland metro home ownership units are LESS than rental vacancy rates for the 1st Qtr 2011.

Detailed vacancy rate data for states and top 75 MSA's in country is available from Census HERE.

Originally created and posted on the Oregon Housing Blog.

1 comment:

  1. Corvallis has been at or below a 1% vacancy rate since August 2010. In September 2010, it was zero! No kidding. Students lived as far away as south Salem. Construction in multifamily is finally beginning to rise, but it won't be enough to cover the projected student increase at OSU. We will likely be at zero percent again, only this time in August . . . maybe July. -Bob-