December 8, 2016

Highest, Lowest of Vacant Homes by ZIP

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Highest, Lowest of Vacant Homes by ZIP

Vacancies in homes are at the lowest level since 2005, according to Census Bureau data. The rental vacancy rate is 7.3 percent while the home owner housing vacancy rate was 1.9 percent for the third quarter of this year.

Read more: Why Renters Can't Make the Move

But in some pockets across the country, vacancy rates have soared. The American Community Survey recently published vacant housing estimates by ZIP codes for 2014, analyzing more than 32,000 ZIP codes. Seventy-nine percent of the ZIP codes analyzed had a vacancy rate of less than 25 percent; 16 percent had 25 to 50 percent; and 4 percent topped 50 to 75 percent.

The lowest vacancy rates tend to be in metro areas that have posted some strong job gains or that have too few new home-construction. The highest vacancy rates, on the other hand, tend to be in metros with a high number of vacation homes.

By state-level for 2014, California had the most occupied housing units in the country, while Maine saw the highest housing vacancy rate.

The following ZIP codes had the highest housing vacancy rates in 2014:

  • Ocean City, N.J.: 58.4% (2014 vacancy rate)
  • Barnstable Town, Mass.: 41.4%
  • Myrtle Beach-Conway-North Myrtle Beach, S.C.: 38.9%
  • Salisbury, Md.: 38.7%
  • Naples-Marco Island, Fla.: 36.8%

On the flip side, these ZIP codes had the lowest housing vacancy rates in 2014:

  • San Jose-Sunnyvale-Santa Clara, Calif.: 4%
  • Iowa City, Iowa: 4.3%
  • Ames, Iowa: 4.5%
  • Provo-Orem, Utah: 4.8%
  • Lancaster, Pa.: 5.1%

Take a look at an interactive map at NAR’s Economists’ Outlook blog to see the vacancy rate in your ZIP code.

Source: “How Many Houses Are Vacant At Your ZIP?” National Association of REALTORS® Economists’ Outlook Blog (Dec. 16, 2015)