Statistics · 2026 · Real Estate
Rental Vacancy Statistics (2026)
The U.S. rental vacancy rate was 7.3% in the second quarter 2026, the Census Bureau reported on July 28, 2026, with a margin of error of 0.2 point and no seasonal adjustment. Homeowner vacancy was 1.2%. A separate Census survey puts the median large metro at 5.1%, but the two surveys do not compare directly.
Key takeaways
- The Census Bureau puts the second quarter 2026 U.S. rental vacancy rate at 7.3% and the homeowner rate at 1.2%, both not seasonally adjusted.
- The year-earlier rate was 7.0%; Census calls the difference not statistically different.
- Quarterly rental vacancy peaked at 11.1% in Q3 2009 and has averaged 7.27% across 282 quarters since 1956.
- Among 396 metros with 100,000 or more residents, the median rental vacancy rate is 5.1% (2023 ACS 5-year (2019–2023)), and 26 metros are at 10% or higher.
- Across 363 metros with both fields, the median gross yield rises from 4.11% in the lowest-vacancy quartile to 4.79% in the highest; this is an association, not a cause.
What is the U.S. rental vacancy rate?
The U.S. rental vacancy rate was 7.3% in the second quarter 2026, according to the Census Bureau’s Housing Vacancy Survey, released July 28, 2026. The rate is not adjusted for seasonality. Census sets its margin of error at 0.2 percentage point, and it calls the change from 7.0% a year earlier not statistically different.
1. Rental vacancy: 7.3% in the second quarter 2026
The Census release (CB26-116, July 28, 2026) says “National vacancy rates in the second quarter 2026 were 7.3 percent for rental housing and 1.2 percent for homeowner housing.” It also states “Data are not adjusted for seasonality.” The margin of error for the rental rate is 0.2 point (90 percent confidence).
2. Year over year: 7.3% vs. 7.0%, not statistically different
Census says the rate “was not statistically different from the rate in the second quarter 2025 (7.0 percent) and virtually the same as the rate in the first quarter 2026 (7.3 percent).” The margin of error on the difference is 0.3 point, so Census does not treat the 0.3-point gap as a change. Margins apply as Census states them.
3. The South has the highest regional rate: 9.5%
Census reports 9.5% for the South (margin of error 0.4), 6.9% for the Midwest, 5.9% for the Northeast and 5.3% for the West, and says the last two were “not statistically different from each other.” Principal cities ran 8.0% and suburbs 6.9%.
How has rental vacancy changed over time?
Quarterly rental vacancy has ranged from 5.0% to 11.1% since 1956, with the peak in Q3 2009. The 2000s had the highest decade average at 9.53%, and the 1970s the lowest at 5.55%. The latest 7.3% is in line with the 7.27% average of all 282 quarters.
4. Peak: 11.1% in Q3 2009
The series is the Census rate as published by FRED: percent, quarterly, not seasonally adjusted, 282 quarters from Q1 1956 to Q2 2026 (WealthyBud data · 282 quarters · FRED · Q1 1956–Q2 2026).
5. Low: 5.0%, reached in 7 separate quarters
Q1 1978, Q3 1978, Q4 1978, Q4 1980, Q2 1981, Q3 1981 and Q4 1981 all read 5.0%, so the low is a tie. 141 of 282 quarters, including the latest, are at or above 7.3% (WealthyBud data · 282 quarters · FRED · Q1 1956–Q2 2026).
6. Since 2020 the low was 5.6%, in Q4 2021 and Q2 2022
The latest 7.3% is 1.7 points above that low; this page does not test the gap for significance. Census notes Q4 2025 (7.2%) rests only on November and December 2025 data, after a lapse in federal funding.
7. Highest decade average: 9.53% in the 2000s
The lowest is 5.55% in the 1970s. Averages are simple means of quarterly readings (WealthyBud data · 282 quarters · FRED · Q1 1956–Q2 2026).
| Decade | Quarters | Rental vacancy (average) | Homeowner vacancy (average) |
|---|---|---|---|
| 1950s (1956–1959, partial) | 16 | 6.27% | 1.08% |
| 1960s | 40 | 7.57% | 1.36% |
| 1970s | 40 | 5.55% | 1.11% |
| 1980s | 40 | 6.38% | 1.59% |
| 1990s | 40 | 7.60% | 1.60% |
| 2000s | 40 | 9.53% | 2.10% |
| 2010s | 40 | 7.90% | 1.91% |
| 2020s (2020–2026, partial) | 26 | 6.49% | 0.95% |
Which metros have the highest rental vacancy?
Daphne, AL has the highest rate at 33.1% among 396 metros with 100,000 or more residents, using 2023 ACS 5-year (2019–2023) data. 26 of the 396 metros are at 10% or higher. This survey and period differ from the quarterly rate, so the two are not ranked together.
8. Two surveys, two definitions
The quarterly survey says “The rental vacancy rate is the proportion of the rental inventory that is vacant for rent,” counting year-round units. The American Community Survey says “The rental vacancy rate is the proportion of the rental inventory that is vacant ‘for rent.’” It is a 5-year estimate (2019–2023); the first is one quarter. Census counts seasonal units as a separate vacancy category from ‘for rent.’
9. Median metro rental vacancy: 5.1%
Among 396 metros of 100,000 or more people the middle rate is 5.1%; across all 920 metros with the field it is 5.1%. 20 tracked areas have no Census vacancy value and are excluded (WealthyBud data · 396 metros of 100,000 or more people · 2023 ACS 5-year · September 2026).
10. Daphne, AL: 33.1% at the top
The 5 highest values are 33.1%, 22.2%, 22.0%, 18.8% and 17.8%. ACS estimates carry a margin of error (Census variable DP04_0005M) that WealthyBud’s dataset does not store, and small renter inventories move rates sharply (WealthyBud data · 396 metros of 100,000 or more people · 2023 ACS 5-year · September 2026).
- Daphne, AL has a rental vacancy rate of 33.1%.
- Myrtle Beach, SC has a rental vacancy rate of 22.2%.
- Kahului, HI has a rental vacancy rate of 22.0%.
- Crestview, FL has a rental vacancy rate of 18.8%.
- Tyler, TX has a rental vacancy rate of 17.8%.
Compare rental yields by metro
Which metros have the lowest rental vacancy?
Mount Vernon, WA has the lowest rate at 1.1% among 396 metros with 100,000 or more residents (2023 ACS 5-year (2019–2023)). 46 metros have a rate of 3% or lower. A low rate means few units were vacant for rent during the survey period; it does not measure rent growth.
11. Tightest metros: 1.1%, 1.6% and 1.7%
The 5 metros with the lowest rates are listed below. 46 of 396 metros are at 3% or lower, against 26 at 10% or higher (WealthyBud data · 396 metros of 100,000 or more people · 2023 ACS 5-year · September 2026). Rates that match are ties.
- Mount Vernon, WA has a rental vacancy rate of 1.1%.
- Cheyenne, WY has a rental vacancy rate of 1.6%.
- Goldsboro, NC has a rental vacancy rate of 1.6%.
- Lewiston, ME has a rental vacancy rate of 1.6%.
- Augusta, ME has a rental vacancy rate of 1.7%.
For rent levels in the same metros, see rent statistics.
How does rental vacancy compare with homeowner vacancy?
The homeowner vacancy rate was 1.2% in the second quarter 2026, against 7.3% for rentals, so the rental rate is about 6 times higher. Census measures each against its own inventory: vacant units for rent, or for sale only. The homeowner rate has averaged 1.52% since 1956.
12. Homeowner vacancy: 1.2% (margin of error 0.1)
Census reports 1.2% versus 1.1% a year earlier and calls the change “not statistically different”; the margin on the difference is 0.1 point. The homeownership rate was 65.0%; see homeownership statistics.
13. Homeowner vacancy range: 0.7% to 2.9%
The high of 2.9% came in Q1 2008 and Q4 2008; the low of 0.7% came in Q2 2023 (FRED, quarterly, not seasonally adjusted) (WealthyBud data · 282 quarters · FRED · Q1 1956–Q2 2026).
14. Rental vacancy is about 6 times homeowner vacancy now, 5 times on average
WealthyBud’s calculation divides 7.3% by 1.2%, and the full-history averages (7.27% and 1.52%) the same way. The published inputs are rounded, so the ratio is approximate (WealthyBud data · 282 quarters · FRED · Q1 1956–Q2 2026).
Does vacancy affect rental returns?
In this data, metros with higher rental vacancy had higher gross yields: the median is 4.11% in the lowest-vacancy quartile and 4.79% in the highest, across 363 metros. That is an association only. Gross yield ignores vacancy, and the data cannot show what causes the pattern.
15. Median gross yield: 4.11% (lowest vacancy) to 4.79% (highest)
WealthyBud’s gross yield is HUD’s FY2026 two-bedroom Fair Market Rent × 12 ÷ the September 2026 median list price. It mixes an FY2026 rent standard, September 2026 prices and 2023 ACS 5-year (2019–2023) vacancy, so it is an estimate. The pool is 363 metros (50 states and DC, one record per metro, 100,000 or more residents); their median yield is 4.44%, and other pages use different pools (WealthyBud data · 363 metros · 2023 ACS 5-year · September 2026).
16. Rank correlation between vacancy and yield: 0.25
Spearman’s rank correlation across 363 metros is 0.25, a weak positive association. The quartile medians rise at every step, with a 0.68-point gap between the ends (WealthyBud data · 363 metros · 2023 ACS 5-year · September 2026).
| Vacancy group | ACS rental vacancy range | Metros | Median vacancy | Median gross yield (WealthyBud estimate) |
|---|---|---|---|---|
| Lowest quartile | 1.1%–3.9% | 94 | 3.2% | 4.11% |
| Second quartile | 4.0%–5.1% | 88 | 4.7% | 4.38% |
| Third quartile | 5.2%–6.8% | 90 | 5.8% | 4.62% |
| Highest quartile | 6.9%–33.1% | 91 | 8.5% | 4.79% |
Cut points are the 25th, 50th and 75th percentiles of vacancy; equal values stay together, so group sizes differ slightly.
For yield rankings, see rental property statistics and the cash flow dashboard.
What this means for renters and investors
For renters, a national rate of 7.3% says little about your block. Check the metro rate and local listings; Mount Vernon, WA and Daphne, AL sit at opposite ends.
For investors, use a local vacancy assumption, not the national one. ACS rates describe 2019–2023. Gross yield does not deduct vacancy, so model it in the deal analyzer.
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