Vacancy Rates for Rental Housing
|Vacancy Rates (%)||2.8||3.51||4.41||4.8|
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