Vacancy Rates for Rental Housing
“Maintain a ten-year rolling average rental housing vacancy rate of 3%” measures success in maintaining a generally acceptable level of rental accommodation.
How are we doing?
From 2009-2018, the 10-year rolling average rental vacancy rate was 4.8% a slight increase from the 2008-2017 timeframe.
Data Table
| 2006-2015 | 2007-2016 | 2008-2017 | 2009-2018 | |
|---|---|---|---|---|
| Vacancy Rates (%) | 2.8 | 3.51 | 4.41 | 4.8 |
Description
The target measures success in maintaining a generally acceptable level of rental accommodation. Vacancy rates below 3.0% generally indicate a limited supply of rental housing and can lead to rising costs for renters. Affordable, appropriate, and secure housing contributes to healthy and economically viable communities.
Vacancy rates = Total number of vacant rental units /Total number of rental units available