U.S. Census: Year-Over-Year Rental Vacancy Rates in Greater Portland Fall as Seattle Metro Vacancies Increase
The U.S. Census Bureau reports that third quarter 2018 rental vacancy rate for the Portland/Vancouver/Hillsboro metro area was 4.5%, a decrease of 1.7% from a year earlier.
Seattle/Tacoma/Bellevue’s metro area vacancy rate was listed at 5.5%, up from 3.6% a year earlier.
Average National Rental Vacancy Rate
The average national rental vacancy rate for Q3 2018 was 7.1 percent for multifamily dwellings of five or more units — 0.4% lower than one year earlier, despite ongoing delivery of multifamily units throughout the national market.
Year-over-year vacancy rates in the Western U.S. decreased, from 5.8% to 5.1%.
 |
| Click to Enlarge |
U.S. Homeownership Rate Increases
After falling to a 26-year low in 2016, homeownership rate remained flat from the prior quarter. The current homeownership rate in the West increased from 59.7% to 60.2%.
 |
| Click to Enlarge |
HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners throughout Oregon and Washington. Build your legacy at http://www.hfore.com