U.S. Census Bureau Pegs Portland Metro Rental Vacancies at 3.8% – Nation’s 2nd Lowest

The U.S. Census Bureau has just reported 1st quarter 2010 vacancy rate estimates for the top 75 U.S. Metropolitan Statistical Areas (MSAs).

The Portland/ Vancouver/ Beaverton area ranks 2nd in the nation for vacancies at 3.8% a 3-way tie with Fresno and Grand Rapids.  Portland’s Q4 2009 vacancy rate was estimated at 5.3% – the new estimate shows a drop of 1.5% over the past 3 months.
The Census Bureau reports the nation’s lowest vacancy rates as follows:

• Boston-Cambridge-Quincy, MA-NH – 3.6%
• Fresno, CA; Grand Rapids, MI; and Portland, Beaverton, Vancouver OR/WA 3.8% (3-way tie)
• Rochester, NY – 4.8%
• columbus, OH – 4.9%
• Oxnard-Thousand Oaks-Ventura, CA – 5.7%
• El Paso, TX – 6.0%
• New York-Northern New Jersey-Long Island NY; Raleigh-Cary, NC 6.2% (2-way tie)
• Oaklahoma City, OK – 6.3%
• Alburquerque, NM; San Francisco-Oakland-Fremont, CA – 6.5%

The MSA’s with the five highest vacancy rates were as follows:

• Orlando, FL – 20.6%
• Phoenix-Mesa-Scottsdale, AZ – 19.8%
• Jacksonville, FL – 19.5%
• Tulsa, OK – 19.3%
• Detroit-Warren-Livonia, MI – 17.7%

Read the full report online.