February 02, 2022
In the fourth quarter of 2021, national vacancy rates for rental housing were 5.6% and 0.9%, respectively. The rental vacancy rate was 0.9 percentage points lower than in the fourth quarter of 2020 (6.5%) and did not differ statistically from the third quarter of 2021 (5.8%).
The 0.9% homeowner vacancy rate was 0.1 percentage points lower than the 1.0% rate in the fourth quarter of 2020 and very identical to the 0.9% rate in the third quarter of 2021.
The homeownership rate of 65.5% was not statistically different from the rate of 65.8% in the fourth quarter of 2020 and the rate of 65.4% in the third quarter of 2021.
Outside MSAs, the rental vacancy rate was the greatest (7.7%), followed by the rate in major cities (5.7%), and the lowest in the suburbs (5.1%). The rates in the suburbs and major cities were lower than in the fourth quarter of 2020, while the rate outside MSAs did not differ statistically from the fourth quarter 2020 rate.
The suburban homeowner vacancy rate (0.7%) was lower than the rates in major cities (1.1%) and outside MSAs (1.0%), but the rates in major cities and outside MSAs were not statistically different. The rate in the suburbs was lower than in the fourth quarter of 2020, but the rates in major cities and outside MSAs were not statistically different from those in the fourth quarter of 2020.
The Midwest (6.5%) and South (6.9%) had greater rental vacancy rates than the Northeast (4.3%) and West (4.0%). The rates in the Midwest and South, on the other hand, were not statistically different, while the rate in the Northeast was not statistically different from the West. The Northeast, Midwest, and West had lower rates than in the fourth quarter of 2020. The rate in the South did not differ statistically from the rate in the fourth quarter of 2020.
The Midwest (0.9%) and South (0.9%) had greater homeowner vacancy rates than the West (0.7%), but they were not statistically different from the Northeast (0.8%). The rates in the Midwest and South were nearly identical, and the rates in the Northeast and West did not differ statistically. The Northeast and South had lower rates than the fourth quarter of 2020, whereas the Midwest and West had rates that were not statistically different from the fourth quarter of 2020.
In the fourth quarter of 2021, around 89.5% of housing units in the United States were occupied, while 10.5% were vacant. In the fourth quarter of 2021, owner-occupied housing units accounted for 58.6% of total housing units, while renter-occupied units accounted for 30.9% of the inventory. Year-round vacant units made up 7.9% of total housing units, while seasonal vacant units made up 2.6%. Approximately 1.9% of total units were available for rent, 0.5% were available for sale only, and 0.7% were available for rent or sale but not yet occupied. Vacant units kept off the market accounted for 4.8% of the total housing stock; 1.4% were for occasional use, 0.8% were temporarily occupied by persons with usual residence elsewhere (URE), and 2.6% were vacant for various reasons.
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.