How Many Vacant Homes Are in America? (2022 Data) (2024)

🏚️ What are the most vacant cities in America? 🏚️

The three most vacant cities in the U.S. are all in Florida: Orlando, Miami, and Tampa. These cities are known for tourism and vacation homes, which means houses sit vacant for much of the year.

More than 16 million housing units in the U.S. are vacant, bringing the overall vacancy rate to 11.6%. Vacancy is a hot topic right now because the decreasing rate is causing rent and home prices to rise.^[1] These problems are compounded by low housing inventory in many areas and the increasing visibility of homelessness in major cities.^[2]^[3]

Americans are looking for cities with affordable living solutions, but some areas have more options than others. We found that the majority of areas with high vacancies are located in tourist-centric regions that tend to have vacancies associated with unused seasonal homes. Four out of the seven cities with vacancy rates exceeding the national rate are in Florida.

In other regions, industrial decline, high unemployment, and economic depression cause high vacancy rates.

To find out where U.S. residents are experiencing the highest rates of vacancy, we analyzed data from the U.S. Census Bureau, the U.S. Department of Housing and Urban Development, Zillow, and the U.S. Bureau of Economic Analysis.

We ranked the 50 most-populous metros by the overall number of vacant housing units among homeowners and renters. We then compared their homeowner vacancy rates (HVR) and rental vacancy rates (RVR) to get a more nuanced pictureof what housing options are available to residents in the studied cities. HVR and RVR both measure the proportion of homeowner and rental inventory which are vacant.

Most Vacant Cities Statistics 🏘

There are more than 16 million vacant housing units in the U.S. (16,078,532).
- 5.8% of rental units are vacant, while 1.4% of homeowner units are vacant — a 314% difference.
The overall vacancy rate in the U.S. is 11.6%.
The most vacant city is Orlando, Florida, with an overall vacancy rate of 15.3% and 160,952 vacant housing units.
Seven metros have an overall vacancy rate that exceeds the national rate of 11.6%:
1. Orlando, Florida (15.27%)
2. Miami (14.75%)
3. Tampa, Florida (13.71%)
4. Birmingham, Alabama (13.23%)
5. New Orleans (13.1%)
6. Riverside, California (12.13%)
7. Jacksonville, Florida (11.87%)
Florida tops our list of most vacant cities:
- Four of the seven cities with vacancy rates exceeding the national average are in Florida.
Forty-three of the 50 most-populous U.S. metros have an overall vacancy rate lower than the national average of 11.6%.
The least vacant city is Minneapolis, with an overall vacancy rate of 4.6%.

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Overall Vacancy Trends in America

To analyze vacancy trends, we examined 2020 U.S. Census data, the most recent and comprehensive data available. We found that the most vacant city is Orlando, Florida, with an overall vacancy rate of 15.3% and 160,952 vacant housing units. Orlando alsohas the highest rental (9.7%) and homeowner (3.1%) vacancy rates.

📉 The national vacancy rate is decreasing 📉

The percentage of vacant housing units decreased from 12.3% in 2011 to 11.6% in 2020. The rate is still 2.6 percentage points higher than the 9% recorded in 2000.

The overall vacancy rate in the U.S. is 11.6%. Seven metros have an overall vacancy rate that exceeds that percentage:

Orlando, Florida (15.27%)
Miami (14.75%)
Tampa, Florida (13.71%)
Birmingham, Alabama (13.23%)
New Orleans (13.1%)
Riverside, California (12.13%)
Jacksonville, Florida (11.87%)

These metros are in areas with a lot of vacation homes and short-term rentals, or they have been affected by significant natural disasters in recent memory. Natural disasters, for example, can lead to economic decline in affected areas that reverberatefor years. The remaining 43 metros on our list all had an overall vacancy rate lower than the national average.

The 50 Most-Populous Cities, Ranked by Vacancy

Rank	City	% Vacant	Total Housing Units	Total Occupied	Vacant Units	Homeowner Vacancy Rate	Rental Vacancy Rate
-	United States	11.6%	138,432,751	122,354,219	16,078,532	1.4%	5.8%
1	Orlando, FL	15.27%	1,054,209	893,257	160,952	3.1%	9.7%
2	Miami, FL	14.75%	2,548,767	2,172,740	376,027	1.7%	6.4%
3	Tampa, FL	13.71%	1,436,297	1,239,349	196,948	1.9%	6.9%
4	Birmingham, AL	13.23%	487,435	422,926	64,509	1.4%	8.1%
5	New Orleans, LA	13.1%	559,877	486,509	73,368	1.5%	7.5%
6	Riverside, CA	12.13%	1,566,442	1,376,503	189,939	1.6%	4.2%
7	Jacksonville, FL	11.87%	656,551	578,620	77,931	1.9%	6.3%
8	Las Vegas, NV	11.34%	912,465	809,026	103,439	1.8%	8%
9	Memphis, TN	11.3%	569,954	505,544	64,410	1.1%	8%
10	Phoenix, AZ	10.22%	1,943,813	1,745,219	198,594	1.5%	5%
11	Providence, RI	9.96%	705,332	635,095	70,237	1.2%	4.7%
12	Pittsburgh, PA	9.91%	1,129,809	1,017,860	111,949	1.5%	5.4%
13	St. Louis, MO	9.86%	1,262,226	1,137,735	124,491	1.6%	6.2%
14	Detroit, MI	9.66%	1,910,964	1,726,401	184,563	1.4%	4.8%
15	Cleveland, OH	9.56%	963,209	871,132	92,077	1.3%	5.7%
16	Oklahoma City, OK	9.54%	578,343	523,154	55,189	1.5%	7.8%
17	Louisville, KY	9.17%	547,307	497,106	50,201	1.3%	6.7%
18	Virginia Beach, VA	9.11%	739,434	672,053	67,381	1.8%	6.8%
19	Houston, TX	9.02%	2,646,682	2,407,993	238,689	1.4%	8.5%
20	Indianapolis, IN	8.99%	868,045	790,050	77,995	1.2%	6.6%
21	Buffalo, NY	8.92%	530,247	482,932	47,315	1.3%	5%
22	New York, NY	8.91%	7,756,312	7,065,536	690,776	1.4%	3.5%
23	Baltimore, MD	8.76%	1,164,762	1,062,780	101,982	1.4%	6.4%
24	San Antonio, TX	8.6%	903,779	826,094	77,685	1.3%	7.5%
25	Charlotte, NC	8.18%	1,062,398	975,476	86,922	1.1%	6.4%
26	Kansas City, MO	8.15%	918,223	843,359	74,864	1.1%	5%
27	Cincinnati, OH	8.05%	946,325	870,103	76,222	1%	4.5%
28	Chicago, IL	7.97%	3,856,019	3,548,735	307,284	1.5%	5.3%
29	Nashville, TN	7.75%	788,546	727,452	61,094	0.9%	6.5%
30	Atlanta, GA	7.66%	2,330,974	2,152,319	178,655	1.5%	6%
31	Hartford, CT	7.61%	516,829	477,495	39,334	1.2%	5.3%
32	Sacramento, CA	7.5%	909,133	840,925	68,208	0.9%	3.4%
33	Philadelphia, PA	7.46%	2,497,830	2,311,452	186,378	1.3%	5.5%
34	Raleigh, NC	7.44%	548,432	507,613	40,819	0.8%	5.7%
35	Columbus, OH	7.34%	869,406	805,628	63,778	1%	4.8%
36	Dallas, TX	7.28%	2,821,032	2,615,579	205,453	1.1%	7.6%
37	Richmond, VA	7.25%	526,129	488,001	38,128	1.1%	4.9%
38	Austin, TX	7.04%	856,586	796,315	60,271	1.1%	5.8%
39	San Diego, CA	6.98%	1,215,528	1,130,703	84,825	0.9%	3.8%
40	Milwaukee, WI	6.82%	680,891	634,436	46,455	1%	5.4%
41	Los Angeles, CA	6.19%	4,661,034	4,372,505	288,529	1%	3.7%
42	Boston, MA	6.06%	1,972,346	1,852,755	119,591	0.8%	3%
43	San Francisco, CA	6%	1,810,522	1,701,865	108,657	0.7%	3.7%
44	Washington, DC	5.75%	2,381,231	2,244,311	136,920	1%	4.9%
45	Seattle, WA	5.43%	1,617,780	1,529,875	87,905	0.9%	3.6%
46	Salt Lake City, UT	5.31%	427,135	404,471	22,664	0.7%	5.6%
47	Denver, CO	5.11%	1,156,748	1,097,674	59,074	0.7%	4.5%
48	San Jose, CA	5%	688,111	653,703	34,408	0.5%	4.2%
49	Portland, OR	4.94%	1,007,774	957,977	49,797	0.9%	3.6%
50	Minneapolis, MN	4.55%	1,456,697	1,390,448	66,249	0.6%	3.6%

Homeowner and Rental Vacancy Rates by Metro

The U.S. rental vacancy rate (5.8%) is 314% higher than the homeowner vacancy rate (1.4%). This is not surprising considering the U.S. housing market has been a seller's market since 2020, and demand for homes is high.

Considering there is also a housing shortage in some areas, it makes sense that homes would be more occupied than rentals. A housing shortage doesn't just mean there's low inventory. It could also suggest that there's an overall lack of affordablehousing in the area, which can be caused by a variety of factors.^[4]

Twenty metros have rental vacancy rates that exceed the U.S. rate of 5.8% for rentals. Fourteen metros have homeowner vacancy rates that exceed the U.S. rate of 1.4%.

It's important to compare homeowner vacancy rates with rental vacancy rates because they can affect different residents in different ways. For example, in cities where it's expensive to purchase a home, a low rental vacancy rate could be disastrousfor residents needing affordable housing. On the other hand, a high rental vacancy rate could suggest a metro is experiencing economic decline and losing residents to other cities.

Homeowner and rental vacancy rates are important to separate because, in some areas, it may be more financially sound to buy versus rent. With increasing home prices, many potential buyers are priced out of the market and are opting to rent for the foreseeablefuture. In areas with expensive home prices, vacancy rates may be higher.

Metros With Homeowner Vacancy Rates Above the National Average

Of the 50 most-populous metros, these 14 cities have the highest homeowner vacancy rates:

Rank	City	Homeowner Vacancy Rate	Rental Vacancy Rate
-	United States	1.4%	5.8%
1	Orlando, FL	3.1%	9.7%
2	Tampa, FL	1.9%	6.9%
3	Jacksonville, FL	1.9%	6.3%
4	Las Vegas, NV	1.8%	8%
5	Virginia Beach, VA	1.8%	6.8%
6	Miami, FL	1.7%	6.4%
7	St. Louis, MO	1.6%	6.2%
8	Riverside, CA	1.6%	4.2%
9	Oklahoma City, OK	1.5%	7.8%
10	New Orleans, LA	1.5%	7.5%
11	Atlanta, GA	1.5%	6%
12	Pittsburgh, PA	1.5%	5.4%
13	Chicago, IL	1.5%	5.3%
14	Phoenix, AZ	1.5%	5%

In metros where homes are more affordable to purchase, the rental vacancy rate may be higher. This may also be the case in tourist areas where seasonal rentals are common. Some studies even suggest that short-term rentals contribute to housing crisesin metros where they are common.^[5]

Metros With Rental Vacancy Rates Above the National Average

Of the 50 most-populous metros, these 20 cities have the highest rental vacancy rates:

Rank	City	Rental Vacancy Rate	Homeowner Vacancy Rate
-	United States	5.8%	1.4%
1	Orlando, FL	9.7%	3.1%
2	Houston, TX	8.5%	1.4%
3	Birmingham, AL	8.1%	1.4%
4	Las Vegas, NV	8%	1.8%
5	Memphis, TN	8%	1.1%
6	Oklahoma City, OK	7.8%	1.5%
7	Dallas, TX	7.6%	1.1%
8	San Antonio, TX	7.5%	1.3%
9	New Orleans, LA	7.5%	1.5%
10	Tampa, FL	6.9%	1.9%
11	Virginia Beach, VA	6.8%	1.8%
12	Louisville, KY	6.7%	1.3%
13	Indianapolis, IN	6.6%	1.2%
14	Nashville, TN	6.5%	0.9%
15	Miami, FL	6.4%	1.7%
16	Baltimore, MD	6.4%	1.4%
17	Charlotte, NC	6.4%	1.1%
18	Jacksonville, FL	6.3%	1.9%
19	St. Louis, MO	6.2%	1.6%
20	Atlanta, GA	6%	1.5%

Vacancies, Cost of Living, and Home Values

Vacancy rates should be analyzed by what's causing them, which can differ by location. In some areas, high vacancy rates correlate with a high cost of living. That, in turn, could raise the homelessness rate as home and rent prices outpace income.

Ultimately, the average rental vacancy rate is slightly higher in cities where home ownership costs haven't grown from 2000 to 2020. However, the cost of living is higher in metros where home values have increased over this time period.

An interesting case is the least vacant city, Minneapolis, which has an overall vacancy rate of 4.6%, yet its rental prices aren't increasing at the same rate as other cities across the country. Typically, low vacancy rates leadto higher prices, but it's important to be mindful of outliers such as Minneapolis because they can be great options for those who are open to moving to a more affordable area.^[6]

Below, we use regional price parities to measure the cost of living alongside typical home values to see how the overall cost of living in an area can impact its vacancy rates.

Vacancy Rates vs. Cost of Living

Table is ordered from highest % increase in typical home value to lowest.

City	Regional Price Parity Score	Homeowner Vacancy Rate	Rental Vacancy Rate	Overall Vacancy Rate	% Increase in Typical Home Values (2000-2020)
United States	100	1.4%	5.8%	11.6%	98.4%
Los Angeles, CA	111.895	1%	3.7%	6.2%	190.5%
San Francisco, CA	117.369	0.7%	3.7%	6.0%	176.3%
Riverside, CA	103.713	1.6%	4.2%	12.1%	171.8%
San Diego, CA	113.393	0.9%	3.8%	7.0%	157.8%
Seattle, WA	111.951	0.9%	3.6%	5.4%	157.0%
Portland, OR	105.671	0.9%	3.6%	4.9%	149.7%
Miami, FL	109.983	1.7%	6.4%	14.8%	146.2%
Sacramento, CA	106.098	0.9%	3.4%	7.5%	144.2%
San Jose, CA	112.122	0.5%	4.2%	5.0%	142.3%
Tampa, FL	99.101	1.9%	6.9%	13.7%	127.5%
Washington, DC	111.532	1%	4.9%	5.8%	127.3%
Salt Lake City, UT	97.72	0.7%	5.6%	5.3%	125.1%
Phoenix, AZ	102.558	1.5%	5%	10.2%	117.9%
Denver, CO	107.292	0.7%	4.5%	5.1%	115.3%
Providence, RI	101.236	1.2%	4.7%	10.0%	112.8%
Virginia Beach, VA	96.184	1.8%	6.8%	9.1%	110.7%
Nashville, TN	96.98	0.9%	6.5%	7.8%	109.0%
Orlando, FL	98.662	3.1%	9.7%	15.3%	106.2%
Dallas, TX	105.062	1.1%	7.6%	7.3%	105.5%
Buffalo, NY	95.697	1.3%	5%	8.9%	105.4%
New York, NY	115.475	1.4%	3.5%	8.9%	103.4%
Austin, TX	101.798	1.1%	5.8%	7.0%	102.1%
Philadelphia, PA	102.254	1.3%	5.5%	7.5%	101.7%
Jacksonville, FL	96.318	1.9%	6.3%	11.9%	101.1%
Boston, MA	110.218	0.8%	3%	6.1%	100.3%
Richmond, VA	95.439	1.1%	4.9%	7.3%	97.4%
Baltimore, MD	105.41	1.4%	6.4%	8.8%	97.3%
San Antonio, TX	97.918	1.3%	7.5%	8.6%	94.3%
Pittsburgh, PA	95.685	1.5%	5.4%	9.9%	93.3%
Indianapolis, IN	94.705	1.2%	6.6%	9.0%	85.9%
Kansas City, MO	94.702	1.1%	5%	8.2%	85.4%
Minneapolis, MN	103.189	0.6%	3.6%	4.6%	83.5%
Houston, TX	100.075	1.4%	8.5%	9.0%	83.1%
Las Vegas, NV	97.164	1.8%	8%	11.3%	81.6%
Oklahoma City, OK	93.768	1.5%	7.8%	9.5%	81.4%
Milwaukee, WI	95.933	1%	5.4%	6.8%	74.1%
New Orleans, LA	96.859	1.5%	7.5%	13.1%	73.2%
Charlotte, NC	94.581	1.1%	6.4%	8.2%	71.8%
Columbus, OH	94.23	1%	4.8%	7.3%	70.2%
Louisville, KY	91.91	1.3%	6.7%	9.2%	70.1%
Raleigh, NC	95.664	0.8%	5.7%	7.4%	67.1%
St. Louis, MO	95.71	1.6%	6.2%	9.9%	62.4%
Atlanta, GA	98.157	1.5%	6%	7.7%	62.1%
Cincinnati, OH	93.476	1%	4.5%	8.1%	55.5%
Birmingham, AL	92.646	1.4%	8.1%	13.2%	54.7%
Hartford, CT	102.882	1.2%	5.3%	7.6%	51.3%
Chicago, IL	104.846	1.5%	5.3%	8.0%	41.5%
Memphis, TN	92.719	1.1%	8%	11.3%	39.3%
Cleveland, OH	93.003	1.3%	5.7%	9.6%	31.5%
Detroit, MI	97.09	1.4%	4.8%	9.7%	31.1%

Metros With Increases in Home Values Above the National Average

From 2000 to 2020, 25 of the 50 most-populous U.S. cities experienced increases in home values that exceeded the overall U.S. increase of 98.4%. Metros with home value increases above 98.4% have an average price parity score of 105.2, meaning the averageprice level in those metros exceeded the overall national price level (100).

The average vacancy rate across those metros (8.35%) is lower than the national vacancy rate as well as the rate in cities where home values increased less than 98.4%. This likely means those cities experienced strong demand for housing, which drove uphome and rental prices alongside the overall cost of living.

Metros With Increases in Home Values Below the National Average

The other 25 cities didn't see home value increases that exceeded 98.4%. The average rental vacancy rate in these metros is 6.2% — 20.5% higher than the average rental vacancy rate for the other 25 metros (5.1%).

The average homeowner vacancy rate for these metros (1.3%) is 2.6% higher than the average homeowner vacancy rate for the other 25 metros (1.2%). This possibly means that demand is lower in these cities, which may have prevented steep increases in housing costs.

The average regional price parity score for these metros is 96.7, just below the U.S. score of 100, meaning that the average price level in these metros falls right below the national standard. As a result, the cost of living in these metros is lowerthan in the other 25 metros.

National Housing and Rental Vacancy Trends Over Time

Since 1965, the rental vacancy rate has decreased by 32%, while the homeowner vacancy rate has decreased by 53%. The decrease in the homeowner vacancy rate is 66% higher than the decrease in the rental vacancy rate.

From 2019 to 2022 (pre-pandemic to present), the national rental vacancy rate decreased by 17.1%, and the homeowner vacancy rate decreased by 42.8%. What's more in the years since the pandemic began (2020 to 2022), they decreased by 12.1% and 27%, respectively.

Methodology

National housing and rental vacancy rates across time are retrieved from the U.S. Census Bureau's Census' Current Population Survey/Housing Vacancy Survey. Metro-level vacancy rates, median household income, and population estimates are retrievedfrom the U.S. Census Bureau's American Community Survey 2020 5-year Estimates. For changes in typical home values across time, we use the Zillow Home Value Index.

We also use 2020 regional price parity data, provided by the Bureau of Economic Analysis, which indexes overall prices of consumer goods to a national index of 100 and offers a comparative score for each metro. Regional price parities measure the differencesin price levels across states and metropolitan areas for a given year and are expressed as a percentage of the overall national price level.

ARTICLE SOURCES

^[1]

The Street. "Housing Nightmare Continues, as Rent Soars and Home Prices Rise."Page(s) 1. Accessed June 15, 2022. Updated May 19, 2022.

^[2]

U.S. News & World Report. "Understanding Housing Inventory and What It Means for You."Page(s) 1. Accessed June 15, 2022. Updated April 28, 2022.

^[3]

City Journal. "Ending Homelessness?."Page(s) 1. Accessed June 15, 2022. Updated September 24, 2021.

^[4]

Forbes. "There Is No Easy Fix For The Affordable Housing Crisis."Page(s) 1. Accessed June 16, 2022. Updated September 7, 2021.

^[5]

Granicus. "Are Short-Term Vacation Rentals Contributing to the Housing Crisis?."Page(s) 1. Accessed June 16, 2022. Updated March 12, 2018.

^[6]

streets.mn. "MinneapolisRents Drop, Bucking National Trends."Page(s) 1. Accessed June 15, 2022. Updated May 6, 2022.

^[7]

The White House. "President Biden Announces New Actions to Ease the Burden of Housing Costs."Page(s) 1. Accessed June 16, 2022. Updated May 16, 2022.

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Frequently Asked Questions

There are more than 16 million vacant housing units in the U.S. About 5.8% of rental units are vacant, while 1.4% of homeowner units are vacant.

The overall vacancy rate in the United States is 11.6%. This means that 11.6% of all housing units in the U.S. are unoccupied.

2020 point-in-time data from the U.S. Department of Housing and Urban Development (HUD) estimates 580,466 people are experiencing homelessness. With 16 millionvacant housing units in the U.S., approximately one person is experiencing homelessness for every 27.6 vacant homes. This number has likely increased since 2020 with rising inflation and housing prices.

Sure, here's a breakdown of the concepts covered in the article about the most vacant cities in America:

Key Concepts:

Vacancy Rates: The article discusses vacancy rates in various U.S. cities, both for homeowners and renters. It highlights cities with high vacancy rates, which are often influenced by factors like seasonal homes, economic decline, natural disasters, or housing affordability.
Vacancy Trends: It outlines the change in vacancy rates over time, showing a decrease in the national vacancy rate but highlighting specific cities where vacancy rates exceed the national average.
City Rankings: The article provides rankings of cities with the highest vacancy rates, showcasing the top cities with percentages and numbers of vacant housing units.
Vacancy Types: Differentiates between homeowner and rental vacancy rates and explains how these rates can impact residents differently based on affordability, economic stability, and housing market conditions.
Factors Influencing Vacancy Rates: Discusses various factors affecting vacancy rates, such as housing shortages, affordability, cost of living, economic growth or decline, and the impact of short-term rentals on housing availability.
Impact on Housing Costs: Explores the relationship between vacancy rates and housing costs, pointing out that high vacancy rates in some areas may not necessarily lead to lower prices due to other economic factors.
Regional Price Parities: Introduces the concept of regional price parities, which measure price levels across different regions. It correlates these parities with vacancy rates to understand the impact of cost of living on vacancies.
Housing Inventory and Market Trends: Discusses changes in typical home values over time, exploring the impact of increasing home values on vacancy rates and cost of living.
Government Intervention: Highlights the government's role in addressing housing issues, such as increasing costs and decreasing inventory, by introducing policies to mitigate potential housing crises.
Data Sources and Methodology: Mentions the data sources used to analyze vacancy rates, homeowner and rental vacancy rates, regional price parities, and the methodology used to derive these statistics.

Supporting Evidence:

The article includes statistical data, percentages, rankings, historical trends, and references to external sources, offering a comprehensive view of the housing vacancy landscape in the U.S. It draws data from the U.S. Census Bureau, the U.S. Department of Housing and Urban Development, Zillow, and the U.S. Bureau of Economic Analysis.

This information establishes a credible basis for understanding the dynamics of housing vacancies, their causes, and the potential impact on residents and markets across various cities in America.