Rental Vacancy Rate definition
Rental Vacancy Rate means the percentage of all rental housing units that are vacant (includes units 'for rent' and units rented but not yet occupied)
Rental Vacancy Rate. The rental vacancy rate is the proportion of the rental inventory that is vacant “for rent.” It is computed by dividing the number of vacant units “for rent” by the sum of the renter-occupied units, vacant units that are “for rent,” and vacant units that have been rented but not yet occupied, and then multiplying by 100. This measure is rounded to the nearest tenth. Attachment 2 U.S. Census Bureau Definitions of Types of Vacant Units U.S. Census Bureau defines the following: Homeowner Vacancy Rate – The homeowner vacancy rate is the proportion of the homeowner inventory that is vacant “for sale.” It is computed by dividing the number of vacant units “for sale only” by the sum of the owner-occupied units, vacant units that are “for sale only,” and vacant units that have been sold but not yet occupied, and then multiplying by 100. This measure is rounded to the nearest tenth. Rental Vacancy Rate – The rental vacancy rate is the proportion of the rental inventory that is vacant “for rent.” It is computed by dividing the number of vacant units “for rent” by the sum of the renter-occupied units, vacant units that are “for rent,” and vacant units that have been rented but not yet occupied, and then multiplying by 100. This measure is rounded to the nearest tenth. Vacancy Status o Vacancy status has long been used as a basic indicator of the housing market and provides information on the stability and quality of housing for certain areas. The data is used to assess the demand for housing, to identify housing turnover within areas, and to better understand the population within the housing market over time. These data also serve to aid in the development of housing programs to meet the needs of persons at different economic levels. o Vacant units are subdivided according to their housing market classification as follows:
Rental Vacancy Rate. The rental vacancy rate is the proportion of the rental inventory that is vacant “for rent.” It is computed by dividing the number of vacant units “for rent” by the sum of the renter-occupied units, vacant units that are “for rent,” and vacant units that have been rented but not yet occupied, and then multiplying by 100. This measure is rounded to the nearest tenth. To calculate owner and renter vacancy rates, the U.S. Census Bureau reports the raw data in two separate tables: DP04 and B25004. DP04 includes the following: Total housing units Occupied housing units (Households) Vacant units Total vacancy rate Number of owner-occupied units (owner households) [for owner vacancy rate] Number of renter-occupied housing units (renter households) [for renter vacancy rate] Owner vacancy rate- rounded to tenths Renter vacancy rate- rounded to tenths B25004 reports the number of vacant units by the seven vacancy types: 1. For rent [for renter vacancy rate] 2. Rented, not occupied 3. For Sale only [for owner vacancy rate]