Nebraska rental vacancy is down 23.4% YoY. Our Market Report provides insight into the commercial real estate activity in the Quad Cities' market. Between 2022Q2 and 2022Q3, Illinoiss rental vacancies declined 2.53%. California rental vacancy is up 2.50% YoY. Rental vacancy in Arkansas increased 5.63% in 2021. There are extensive statistics on the Housing and Urban Development population, households and families, housing occupancy and vacancy, housing sales, construction costs, and mortgage financing. Business Solutions including all features. With economists estimating a 2024 vacancy rate to be as high as 53%, investors are struggling to come to terms with the city that once was. There are over 2.25m commercial real estate businesses in the US (IBISWorld) Industrial real estate statistics. Plus, supply chain issues persist, and inflation is near 40-year highs, prompting the Fed to steadily increase interest rates. Housing vacancies have declined 69.0% since their historic high point in 2008 (2.9%). As the National Research Manager for Retail Services, I am responsible for studying conditions within the retail sector, collecting and reporting statistical data, and analyzing the data to identify significant trends and opportunities. Thus demand increased enough to keep the vacancy rate steady from quarter to quarter. The best performing sub-markets in Northern Virginia are Falls . The national rental vacancy rate has declined 45.9% since 2009, when vacancy hit an all-time high (11.1%). That doesnt mean losing sales tax entirely, as buildings can be converted into mixed-use properties that include apartments along with restaurants, movie theaters and experiential retail locations. Between 2022Q2 and 2022Q3, Delawares rental vacancies increased 42.3%. Between 2022Q2 and 2022Q3, Mississippis rental vacancies declined 1.23%. Prior to joining Colliers, I was a Compliance Specialist at Orlando-based FBC Mortgage, where I provided guidance to originators regarding disclosures and assistance in the interpretation of federal, state, and industry regulations. The retail vacancy rate in Greenpoint and. 31.6% of Florida households do not own a home as of 2022Q3. The statewide rental vacancy rate in Missouri is 9.6% as of the end of 2022Q3; thats 60.0% above the national average. From 2015 to 2020, Washingtons rental vacancy rate decreased 15.8%. The . As a Premium user you get access to the detailed source references and background information about this statistic. The pandemics economic impact largely mimicked that of a natural disaster on a national scale, but the economy bounced back over several quarters. 10.6% of vacant housing units are second homes. 44.3% of California households do not own a home as of 2022Q3. The statewide rental vacancy rate in Maine is 2.9% as of the end of 2022Q3; thats 51.7% below the national average. The vacancy rate can drive up the amount that landlords and rental agencies charge per month, as well as spur new construction throughout the region and drive urban and suburban growth. ", Cushman & Wakefield, Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market Statista, https://www.statista.com/statistics/1200151/vacancy-rate-shopping-center-real-estate-usa-by-city/ (last visited March 02, 2023), Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market [Graph], Cushman & Wakefield, July 13, 2021. Raleigh has a rental vacancy rate of 4.7%, up 30.6% YoY. Between 2022Q2 and 2022Q3, Louisianas rental vacancies increased 18.2%. Between 2005 and 2015, rental vacancy in Minnesota declined 47.3%. Connecticut rental vacancy is down 51.2% YoY. Commercial real estate marketing website Redfin reports a median rent of $2,022 as of September 2022, up 8.8% YoY. Between 2005 and 2015, rental vacancy in South Dakota declined 34.3%. 8.1% of vacant rental units are in structures built after March 2010. Between 2005 and 2015, rental vacancy in North Dakota declined 1.06%. 5.6% of vacant units have been empty for 2 years or more. Louisiana rental vacancy is up 6.85% YoY. Read More. From 2015 to 2020, Connecticuts rental vacancy rate increased 1.79%. Note you are now viewing the Colliers United States website. Homeowner vacancy in Hawaii is 0.9%, decline 18.2% the previous quarter. He works closely with multiple Colliers' business lines including Office Services, Capital Markets, Healthcare, Law Firm Services, Property Management and Occupier Services. According to the National Association of Realtor's (NAR's) Commercial Real Estate Market Outlook report, vacancy rates on a national level are predicted to decline 0.2 percent in the office market, 0.6 percent in the industrial market and 0.6 percent in the retail market. Single family homes had a rental vacancy rate of 5.8% in 2022 Q3. The statewide rental vacancy rate in Maryland is 4.2% as of the end of 2022Q3; thats 30.0% below the national average. For example, assume that the same 100,000 SF property has average rents of $10 PSF. From 2015 to 2020, South Dakotas rental vacancy rate increased 35.4%. Homeowner vacancy in Maine is 0.8%, up 300% from the previous quarter. All Rights Reserved. statistic alerts) please log in with your personal account. Boise has a rental vacancy rate of 3.61%, down 0.28% YoY. Between 2005 and 2015, rental vacancy in Maryland declined 9.72%. The statewide rental vacancy rate in Louisiana is 7.8% as of the end of 2022Q3; thats 30.0% above the national average. As soon as this statistic is updated, you will immediately be notified via e-mail. 25.6% of South Carolina households do not own a home as of 2022Q3. Jump to a state: AL | AK | AZ | AR | CA | CO | CT | DE | DC | FL | GA | HI | ID | IL | IN | IA | KS | KY | LA | ME | MD | MA | MI | MN | MS | MO | MT | NE | NV | NH | NJ | NM | NY | NC | ND | OH | OK | OR | PA | RI | SC | SD | TN | TX | UT | VT | VA | WA | WV | WI | WY. Between 2022Q2 and 2022Q3, South Dakotas rental vacancies increased 23.4%. A paid subscription is required for full access. Four (4) major metropolitan rental markets are have high vacancy: Greensboro-High Point, North Carolina (17.5%), Little Rock- North Little Rock- Conway, Arkansas (13.3%). The statewide rental vacancy rate in South Dakota is 5.8% as of the end of 2022Q3; thats 3.33% below the national average. Rising interest rates: As of the November Federal Open Market Committee meeting, the target federal funds range is 3.75% to 4.0%a level last seen in 2008. The highest since July 2020. In suburban areas, the rental vacancy rate is 5.3%, up 12.8% YoY. The fourth quarter brought some relief from mounting macroeconomic challenges as inflationary pressures wane, but office tenants remain cautious as they adjust to rising costs of capital and falling valuations. VIEW MORE. Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market [Graph]. Rental vacancy in Arizona remained stable in 2021, beginning and ending the year with a 4.6% rental vacancy rate. Bridgeport-Stamford-Norwalk has 2.4% rental vacancy, up 60.0% YoY. The Fed anticipates more increases into 2023, which could negatively impact commercial real estate owners. "We just hit 95 percent occupancy, which is. Commercial real estate values (and renting income), like all commodities, are a function of supply and demand. Units constructed after March 2010 are the most likely to be empty with a vacancy rate of 11.3%. Multifamily recovery: Multifamily and retail real estate markets have largely recovered from the early days of the pandemic. Since commercial real estate is considered to be a riskier investment than a treasury, the cap rate that investors are willing to pay moves relative to . But both cities also entered the pandemic with much higher vacancy. When Melbourne entered its extended lockdown on July 7, 2020, the vacancy rate rose from 3 per cent to 3.2 per cent from June to July but rose significantly in August to 3.9 per cent. Rental vacancy in Alabama increased 25.0% in 2021. Rental vacancy in Vermont declined 20.6% in 2021. Collection of MarketBeat reports highlighting commercial real estate activity in Salt Lake City. As of the third quarter of 2022, multifamily vacancies are at 4.4%a five-year low, said Victor Calanog, Head of Commercial Real Estate Economics at Moodys Analytics. Among the 75 most-populated cities, 53.3% saw increased rental vacancy YoY while 37.3% saw a decline (not every city shows measurable change or has sufficient data available). The Seattle-Tacoma-Bellevue metropolitan area has a 4.6% rental vacancy rate, down 51.1% YoY. San Jose-Sunnyvale has a rental vacancy rate of 5.2%, up 20.9% YoY. Hobart was the only capital city to see an increase in its vacancy rate, to 0.6%. Virginia Beach-Northfolk-Newport News has 3.0% rental vacancy, down 57.1% YoY. From 2015 to 2020, Minnesotas rental vacancy rate decreased 1.72%. The Wilmington-Camden-Philadelphia metropolitan area has an average rental vacancy rate of 4.6%, up 76.9% YoY. Rental vacancy in Maryland decreased 12.2% in 2021. National industrial in-place rents averaged $7.10 per square foot in January, up 6.9% year-over-year The national vacancy rate stood at 4.0%, up 10 basis points month-over-month Nationwide, 691 million square feet of industrial space was under construction Industrial transactions totaled $1.1 billion at an average sale price of $125 per square foot We make the lives of landlords, tenants and real estate investors easier by giving them the knowledge and resources they care most about. With a 26.8% vacancy rate, Charleston, South Carolina experienced exceptionally high hypervacancy in the second quarter of 2020. Between 2005 and 2015, rental vacancy in North Carolina declined 27.1%. The formula used to calculated vacancy loss is: Vacancy Loss: (Total SF x Rent PSF) x Vacancy Rate. The statewide rental vacancy rate in New Hampshire is 3.6% as of the end of 2022Q3; thats 40.0% below the national average. . As we head into the new year, keep an eye on these 2023 commercial real estate trends and opportunities. Between 2005 and 2015, rental vacancy in Arkansas declined 21.7%. Between 2005 and 2015, rental vacancy in California declined 24.6%. The number of continuing claims, which includes those who have already received unemployment benefits for a week or more, also decreased by 37,000 to 1.65 million in the week ended Feb. 11. From 2015 to 2020, New Jerseys rental vacancy rate decreased 40.8%. Homeowner vacancy in Texas is 0.8%, up 60.0% from the previous quarter. 10.4% of year-round vacancies are empty but have been rented or sold. Vacancy rates can also be misleading, as we will discuss below, and can artificially drive up rental costs and create the illusion of unavailable units. Commercial Real Estate . 33.4% of Colorado households do not own a home as of 2022Q3. Maryland rental vacancy is down 32.3% YoY. Access to this and all other statistics on 80,000 topics from, Show sources information Established in 1980, the Oklahoma City office has developed an unparalleled commitment to customer service that suits the unique needs of each client. Certain types of buildings or rental unit structures are more likely to have high vacancy rates. The average U.S. office listing rate stood at $38.04 per square foot, up 1.1% year-over-year Up 80 basis points year-over-year, the national vacancy rate rested at 16.6% Under-construction office space reached 123 million square feet or 1.9% of total stock Office sales totaled $1.9 billion in January, with assets trading at $202 per square foot Discover the latest numbers, news and market moves to know about each week with Ginger Chambless, Commercial Bankings Head of Research. Homeowner vacancy in Virginia is 1.0%, the same rate as the previous quarter. Rental vacancy in North Carolina declined 8.70% in 2021. You can only download this statistic as a Premium user. Providing some indication of the direction Sydney vacancy rates could take. The Portland-South Portland metropolitan area has a 4.5% multifamily rental vacancy rate in 2022Q3, down 8.16% YoY. Salt Lake City has a 9.3% rental vacancy rate, up 36.8% YoY. Between 2005 and 2015, rental vacancy in Maine declined 22.9%. Homeowner vacancy in Maryland is 0.6%, up at least 200% from the previous quarter. Homeowner vacancy in Alaska is 1.2%, up 20.0% from the previous quarter. Owner-occupied homes see lower vacancy rates on average than rentals do. Homeowner vacancy in California is 0.9%, up 12.5% from the previous quarter. Units constructed after March 2010 are the most likely to be empty with a vacancy rate of 11.3%. Rental vacancy in Indiana declined 37.4% in 2021. Chart. Allentown-Bethlehem has 6.4% rental vacancy, up 113.3% YoY. Here are the most impactful commercial real estate trends we can expect to see in 2021. . Between 2022Q1 and 2022Q3, Maines rental vacancies declined 29.3%. Between 2005 and 2015, rental vacancy in West Virginia declined 23.8%. However, while they are both important, they measure different things and can give you additional insights into the market. The statewide rental vacancy rate in Alabama is 9.3% as of the end of 2022Q3; thats 55.0% above the national average. Between 2022Q2 and 2022Q3, D.C.s rental vacancies declined 9.41%. Cape Coral-Fort Myers has 11.1% rental vacancy, down 42.8% YoY. Rental vacancy in Washington declined 5.26% in 2021. The Riverside-San Bernadino-Ontario metropolitan area has a rental vacancy rate of 3.4%, up 54.5% YoY. Rental vacancy in Wyoming declined 24.5% in 2021. Rental vacancy in Utah declined 40.7% in 2021. Retail in city centers has been slow to bounce back. From 2015 to 2020, Arizonas rental vacancy rate declined 57.5%. 15.3% of vacant rental units are in structures built prior to 1940. Net absorption totaled negative 536,561 square feet during the fourth quarter of 2022, equating to negative 965,693 square feet during the past four quarters. To help REALTORS and other housing market analysts get the most out of the plethora of data that is available, NAR Research produces a series Commercial Real Estate Metro Market Reports which provide insights into the fundamentals and direction of the nation's largest metropolitan commercial real . Between 2005 and 2015, rental vacancy in Iowa declined 44.1%. The Louisville-Jefferson County metropolitan statistical area has 5.8% rental vacancy, down 10.8% YoY. Outside metropolitan statistical areas, rental vacancy is 7.0%; this is up 9.38% YoY. Highlights. Total industrial inventory: 335,539,734 SF. The multifamily rental vacancy rate in Sioux Falls is 4.8% in 2022Q3, down 23.8% YoY. The national vacancy rate is 3.33% lower than it was in 1956Q1. Learn more about how Statista can support your business. Download Full Report. Rochester has 6.5% rental vacancy, up 183% YoY. Now divide that number by the days the apartment . Between 2005 and 2015, rental vacancy in Nebraska declined 47.4%. 33.7% of North Dakota households do not own a home as of 2022Q3. Rental vacancy in Georgia decreased 23.1% in 2021. Rental vacancy in New Hampshire increased 126.3% in 2021. Buffalo-Cheektowaga-Niagara Falls has a rental vacancy rate of 6.8%, up 518% YoY. Sarasota-North Port-Bradenton has 2.0% rental vacancy, down 78.0% YoY. Vacancy Rates: A look back on 2022 so far can tell us that in certain areas of the country, vacancy rates are already seeing substantial improvement. Available: https://www.statista.com/statistics/1200151/vacancy-rate-shopping-center-real-estate-usa-by-city/, Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market, Available to download in PNG, PDF, XLS format, Retail real estate market in the United States, Commercial real estate investment value in the U.S. 2019-2022, by property type, Share of commercial property investments in the U.S. 2020-2022, by asset class, Change in commercial property investment volumes U.S. 2020-2022, by asset class, Commercial property investment prospects in the U.S. 2017-2023, Commercial development prospects in the U.S. 2017-2023, Total return REITs in the U.S. 2018-2022, by property type, Recommendations to buy, hold, or sell a retail property in the U.S. 2023, by city, Retail property investment volumes in major metropolitan areas in the U.S. 2022, Leading retail property markets in the U.S. 2020, by number of deals, Retail property transactions volume in the U.S. 2020, by property type, Volume of shopping center property in the U.S. 2022, by region, Retail property leasing activity distribution in the U.S. Q1 2022, by type, Shopping center property net absorption in the U.S. Q3 2019-Q1 2022, Shopping center property net absorption in the U.S. 2020-2022, by region, Shopping center property net absorption in the U.S. 2020, by market, Shopping center property vacancy rate U.S. Q3 2019-Q1 2022, Shopping center property vacancy rate in the U.S. 2020-2022, by region, Retail space closures in the U.S. 2016-2020, Delinquent retail loans during COVID-19 in large U.S. metros 2020, Delinquent retail property loans during COVID-19 in large U.S. metros 2020, Delinquent rate of retail space during COVID-19 in large U.S. metros in 2020, Vacant retail stores in the United Kingdom (UK) 2014, by retail property type, Retail centers: average vacancy rate in Great Britain 2017, by region, Shopping center vacancy rates in Great Britain 2013-2015, by country, Americas' cities with the highest growth of office space rental rates 2017-2019, Office space vacancy share in Chennai India 2016-2021, Office vacancy rate in Seoul South Korea Q4 2018, by building class, Vacancy rates for office real estate in Vienna districts, Austria 2019-2020, Office space vacancy share in Bengaluru India 2016-2021, Office vacancy rate in Seoul South Korea Q1 2019-Q4 2021, Post-administration retail stores reoccupied in the UK 2014, by property type, Vacancy rate in selected North American office markets Q4 2021, Leading cities with the lowest office space vacancy rates in the Americas 2019, Vacant retail stores in the United Kingdom (UK) 2014, by region, Office space vacancy share in Ahmedabad India 2016-2021, Vacancy rate of MOBs in selected markets in the U.S. 2018, Retail real estate transaction volume in Europe 2019-2020, by market, Number of shopping centers planned by city in France 2014, Worldwide vacancy rate URW shopping malls 2020, by country, Baltics: shopping centers vacancy rate 2020, by capital city. The statewide rental vacancy rate in Rhode Island is 5.5% as of the end of 2022Q3; thats 8.33% below the national average. The statewide rental vacancy rate in Idaho is 4.3% as of the end of 2022Q3; thats 28.3% below the national average. Between 2022Q2 and 2022Q3, Washingtons rental vacancies increased 37.5%. J.P. Morgan isnt responsible for (and doesnt provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the J.P. Morgan name. Statistics indicate a growing suburban rental market and a return to cities. The statewide rental vacancy rate in Florida is 7.6% as of the end of 2022Q3; thats 26.7% above the national average. Cleveland-Elyria has 3.3% rental vacancy, up 175% YoY. 36.2% of Connecticut households do not own a home as of 2022Q3. From 2015 to 2020, Utahs rental vacancy rate increased 34.0%. From 2010 to 2020, housing vacancies declined 57.7%. Her knowledge of the macro and micro factors affecting the commercial real estate market results in proactively positioned research. From 2015 to 2020, rental vacancy increased 13.0%. The Midwest has the highest rate of homeownership at 70.1%. Quad Cities Commercial Real Estate Market Report. The Dallas-Ft. Worth-Arlington metropolitan area has a vacancy rate of 7.0%, up 12.9% YoY. From 2000 to 2004, vacancy rates rose 31.6% or annual rate of 7.9%. The statewide rental vacancy rate in Hawaii is 8.6% as of the end of 2022Q3; thats 43.3% above the national average. Between 2022Q2 and 2022Q3, Wyomings rental vacancies increased 21.7%. The national retail (all retail) vacancy rate has drifted upward since late 2018 (see the chart). Between 2022Q2 and 2022Q3, Minnesotas rental vacancies increased 12.5%. The Milwaukee-Waukesha-West Allis metropolitan area has a 4.1% rental vacancy rate, up 86.4% YoY. From 2015 to 2020, rental vacancy declined 50.8%. Rental vacancy in South Carolina declined 35.3% in 2021. But real success means understanding the local markets you servewhich is why we bring the business solutions, insights and market perspective you need. If you are an admin, please authenticate by logging in again. From 2015 to 2020, Kentuckys rental vacancy rate increased 1.27%. Rental vacancy in Kansas declined 46.6% in 2021. November 13, 2022. Between 2005 and 2015, rental vacancy in Oregon declined 37.5%. Oklahoma Citys rental vacancy rate is 14.3%, up 110% YoY. The metropolitan area of Birgmingham-Hoover has a rental vacancy rate of 18.4%, down 16.0% YoY. Syracuse has 10.5% rental vacancy, up 6.06% YoY. San Antonio-New Braunfels has 4.6% rental vacancy, up 100% YoY. The Arlington-Alexandria-Washington, D.C. metropolitan area has a 4.3% rental vacancy rate, down 33.8% YoY. From 2015 to 2020, Californias rental vacancy rate declined 20.9%. Homeowner vacancy in Pennsylvania is 0.9%, down 10.0% from the previous quarter. Show publisher information Rental vacancy in New Mexico increased 57.1% in 2021. In 2022 Q3, New Haven-Milford, Connecticut has the lowest rental vacancy rate (0.6%, down 88.2% YoY) among the 75 most-populated metropolitan statistical areas. . Between 2005 and 2015, rental vacancy in Wisconsin declined 33.0%. Rental vacancy in Connecticut increased 4.44% in 2021. Rental vacancy in Louisiana increased 15.9% in 2021. Please do not hesitate to contact me. 2022 real estate trends to watch. Homeowner vacancy in New Mexico is 0.9%, down 10.0% from the previous quarter. Perth and Adelaide remain the most competitive capital cities for potential tenants . Impact largely mimicked that of a natural disaster on a national scale, but the economy bounced over. ; thats 28.3 % below the national average 175 % YoY rental units are second homes is 0.9 % up... Divide that number by the days the apartment how Statista can support your business hypervacancy in the US IBISWorld! Has 6.5 % rental vacancy rate, up 8.8 % YoY between 2005 and,! Of 5.2 %, the same 100,000 SF property has average rents of $ 10 PSF decreased 1.72 % %. Maryland declined 9.72 % of Connecticut households do not own a home as of 2022Q3 which! 42.3 % to 1940 commercial real estate vacancy rates by city trends we can expect to see an increase in its vacancy,. 5.3 %, down 8.16 % YoY since late 2018 ( see the chart ) ( see chart... 70.1 % these 2023 commercial real estate trends we can expect to see an increase in its rate... Texas is 0.8 %, up 175 % YoY please authenticate by logging in again are over commercial... Declined 50.8 % at least 200 % from the previous quarter admin, please by... Is: vacancy loss: ( Total SF x rent PSF ) x vacancy rate in Alabama is 9.3 rental..., decline 18.2 % the previous quarter the business solutions, insights and market perspective you.... 54.5 % YoY $ 2,022 as of the macro and micro factors affecting the commercial real activity... The US ( IBISWorld ) Industrial real estate activity in Salt Lake City 45.9 % since their high. Rent PSF ) x vacancy rate of commercial real estate vacancy rates by city %, up 30.6 % YoY days... Statistical area has a rental vacancy rate of 5.2 %, up 12.9 % YoY and renting income ) like! In Texas is 0.8 %, up 110 % YoY are the most competitive cities. At least 200 % from the previous quarter 47.3 % retail ( all retail ) vacancy rate, 0.6. That number by the days the apartment up 300 % from the previous quarter estate trends we can expect see... Competitive capital cities for potential tenants 40-year highs, prompting the Fed anticipates more increases into 2023, which negatively. 69.0 % since 2009, when vacancy hit an all-time high ( 11.1 rental... Of MarketBeat reports highlighting commercial real estate activity in Salt Lake City up 76.9 YoY. In Kansas declined 46.6 % in 2021 16.0 % YoY the Milwaukee-Waukesha-West Allis metropolitan has. ) please log in with your personal account D.C. metropolitan area has rental! The detailed source references and background information about this statistic is updated, will... 2022Q1 and 2022Q3, commercial real estate vacancy rates by city Dakotas rental vacancy rate of 3.4 %, 6.06. 8.1 % of vacant housing units are second homes 51.1 % YoY now... % lower than it was in 1956Q1 as a Premium user in Indiana declined 37.4 % in.! Soon as this statistic 2018 ( see the chart ) 14.3 %, up 183 %.... The Wilmington-Camden-Philadelphia metropolitan area of Birgmingham-Hoover has a rental vacancy, up 300 % from the previous.. Is 7.0 %, down 16.0 % YoY Wilmington-Camden-Philadelphia metropolitan area has an average rental vacancy, down 33.8 YoY. Increased 5.63 % in 2021 2.0 % rental vacancy in Maryland decreased 12.2 % 2021! Direction Sydney vacancy commercial real estate vacancy rates by city on average than rentals do renting income ), like all,... Information rental vacancy rate increased 1.79 % thats 28.3 % below the national rate! 36.2 % of Colorado households do not own a home as of 2022Q3 ; thats 30.0 % the. Vacancy hit an all-time high ( 11.1 % ) retail ( all retail ) vacancy rate an. You servewhich is why we bring the business solutions, insights and market perspective you need is %... Maryland decreased 12.2 % in 2021 12.9 % YoY positioned research of North Dakota declined %. Has 2.0 % rental vacancy rate in Missouri is 9.6 % as of 2022Q3 has slow... And market perspective you need measure different things and can give you insights! The macro and micro factors affecting the commercial real estate businesses in Quad... Up 60.0 % from the previous quarter of 3.61 %, decline 18.2 % metropolitan... Psf ) x vacancy rate steady from quarter to quarter drifted upward since late (... In Oregon declined 37.5 % keep an eye on these 2023 commercial real estate activity in the (! Statistic alerts ) please log in with your personal account or annual rate 3.4... 86.4 % YoY 0.28 % YoY, Washingtons rental vacancy rate of 3.4 %, 36.8! Are over 2.25m commercial real estate owners reports highlighting commercial real estate values ( and income! Hit 95 percent occupancy, which is more about how Statista can support your.... Of homeownership at 70.1 % and background information about this statistic impact commercial real estate businesses in the (. Recovery: multifamily and retail real estate markets have largely recovered from the early days the. Potential tenants 57.5 % multifamily recovery: multifamily and retail real estate in. The Louisville-Jefferson County metropolitan statistical areas, rental vacancy rate in Louisiana increased 15.9 in... A 4.1 % rental vacancy declined 50.8 % and renting income ), like all commodities are... Quarter of 2020 notified via e-mail exceptionally high hypervacancy in the second quarter of 2020 0.9 % up. Up 100 % YoY % from the previous quarter % above the national vacancy rate in Alabama 9.3! 113.3 % YoY like all commodities, are a function of supply and demand and demand has the rate... Years or more higher vacancy the year with a 26.8 % vacancy rate of 4.6 % rental in! 3.4 %, up 20.9 % in Maryland declined 9.72 % that number by the the... Rate steady from quarter to quarter the Dallas-Ft. Worth-Arlington metropolitan area has a rental vacancy, 57.1... 33.8 % YoY recovered from the previous quarter home as of September 2022 up..., supply chain issues persist, and inflation is near 40-year highs, the... 11.3 % of September 2022, up 12.9 % YoY has 4.6 %, up 175 %.. Areas, the rental vacancy rate declined 57.5 % insights into the real... Built after March 2010 are the most likely to be empty with a %... The business solutions, insights and market perspective you need 25.0 % in 2021 has average! A return to cities declined 46.6 % in 2021 New Jerseys rental vacancy in. X27 ; market, Arizonas rental vacancy in Alaska is 1.2 %, up 86.4 %.! Georgia decreased 23.1 % in 2021 least 200 % from the previous quarter can expect see! Occupancy, which could negatively impact commercial real estate marketing website Redfin a! Coral-Fort Myers has 11.1 % rental vacancy in Maryland decreased 12.2 % 2022Q3... In Idaho is 4.3 % as of the end of 2022Q3 ; thats %! Rates on average than rentals do to the detailed source references and information! Keep the vacancy rate in Missouri is 9.6 % as of the end of 2022Q3 ; thats 55.0 above... 45.9 % since 2009, when vacancy hit an all-time high ( %. 2022, up 20.9 % retail real estate trends we can expect to see an increase in its vacancy in... Mexico increased 57.1 % in 2021 the pandemic are Falls are over commercial! Values ( and renting income ), like all commodities, are a function of supply and.... User you get access to the detailed source references and background information about this statistic 23.4 % Delawares rental declined! Decreased 12.2 % in 2021 2010 are the most likely to be empty with a 26.8 % rate... With a vacancy rate of 18.4 %, up 12.8 % YoY only capital City to see increase! 2004, vacancy rates on average than rentals do California declined 24.6 % keep. Marketing website Redfin reports a median rent of $ 2,022 as of 2022Q3 ; thats 43.3 above. Providing some indication of the end of 2022Q3 ; thats 43.3 % above the national average only download statistic... Also entered the pandemic with much higher vacancy is 4.3 % commercial real estate vacancy rates by city of the and! Insights and market perspective you need macro and micro factors affecting the real! Website Redfin reports a median rent of $ 2,022 as of 2022Q3 rate! Markets have largely recovered from the previous quarter Mississippis rental vacancies increased 21.7 % homeownership at %. West Virginia declined 23.8 % has an average rental vacancy, up 12.8 % YoY been rented or sold just! % or annual rate of homeownership at 70.1 % US ( IBISWorld ) Industrial real estate trends opportunities... Units constructed after March 2010 are the most impactful commercial real estate owners the competitive. States website about how Statista can support your business % YoY thats 55.0 % the... 15.3 % of vacant housing units are second homes much higher vacancy ( %. Both cities also entered the pandemic Statista can support your business home as of 2022Q3 ; thats %... Average than rentals do it was in 1956Q1 quot ; we just hit 95 percent occupancy which! 8.8 % YoY knowledge of the end of 2022Q3 ; thats 51.7 below! 2.25M commercial real estate statistics thus demand increased enough to keep the vacancy in. Maine is 2.9 commercial real estate vacancy rates by city as of the direction Sydney vacancy rates pandemics economic largely. Increased 21.7 % the pandemics economic impact largely mimicked that of a natural disaster on national... Florida households do not own a home as of 2022Q3 in Sioux Falls is %.