40.3% of Hawaii households do not own their homes 2022Q3. Commercial Real Estate Statistics Compared to other major metropolitan areas and against national averages, businesses benefit from the highly competitive Rochester commercial real estate market. The Charlotte-Concord-Gastonia metropolitan area has a rental vacancy rate of 9.1%, up 56.9% YoY. Vacancy rates are at multi-year lows, and asking rents are reaching all-time highs. 1978 to 1988, rental vacancy rates rose 60%, or at an annual rate of 6.0%. I was responsible for the collection, maintenance, and preparation of data across all property types required for writing quarterly statistical reports, graphs, and charts. Homeowner vacancy in Maine is 0.8%, up 300% from the previous quarter. Between 2022Q2 and 2022Q3, Wisconsins rental vacancies increased 40.6%. Homeowner vacancy in Iowa is 0.8%, up 60.0% from the previous quarter. So if an apartment building has 300 units, and 30 units are unoccupied, it means the vacancy rate is 10%. 29.9% of Louisiana households do not own a home as of 2022Q3. Homeowner vacancy in Alaska is 1.2%, up 20.0% from the previous quarter. The national vacancy rate has increased 3.45% over 12 months. From 2015 to 2020, Utahs rental vacancy rate increased 34.0%. The St. Louis rental vacancy rate is 5.5%, down 5.17% YoY. The national vacancy rate is 3.33% lower than it was in 1956Q1. The region's outstanding infrastructure supports the diverse real estate available to service providers and manufacturers of all sizes. Buildings with 10-or-more units account for 33.1% of all rental vacancies. The Tucson metropolitan area has a rental vacancy rate of 11.1%, up 37.0% YoY. Between 2005 and 2015, rental vacancy in South Dakota declined 34.3%. Homeowner vacancy in Kansas is 1.0%, down 9.09% from the previous quarter. 10.6% of vacant housing units are second homes. The steepest incline in rental vacancy was between 1957 and 1961, when rates increased 68.9% or at an annual rate of 17%. Austin-Round Rock has 5.2% rental vacancy, down 28.8% YoY. Show publisher information Greensboro-High Point has 17.5% rental vacancy, up 2,400% YoY. Highrise structures with many small units built after March 2010 are the most likely to have high rental vacancy rates. 44.3% of California households do not own a home as of 2022Q3. We uncover recent sales and leasing activity, vacancy rates, lease rates and trends in our marketplace. But it has continued to be weighed down because fewer people are working in downtown offices.. From 2015 to 2020, West Virginias rental vacancy rate decreased 23.7%. The national rental vacancy rate has declined 45.9% since 2009, when vacancy hit an all-time high (11.1%). Kentucky rental vacancy is down 7.27% YoY. Homeowner vacancy in West Virginia is 0.6%, down 40.0% from the previous quarter. Western states have a rental vacancy rate of 4.7%, up 6.82% YoY. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). The Albany-Schenectady-Troy metropolitan area has a rental vacancy rate of 8.9%, down 25.8% YoY. Click the links below for secure access to your accounts: With a recession growing more likely, the industry may face a tough year ahead. National industrial in-place rents averaged $7.10 per square foot in January, up 6.9% year-over-year The national vacancy rate stood at 4.0%, up 10 basis points month-over-month Nationwide, 691 million square feet of industrial space was under construction Industrial transactions totaled $1.1 billion at an average sale price of $125 per square foot That presents prepared owners and investors with an opportunity to grow their portfolio at a lower cost. Between 2022Q2 and 2022Q3, Nebraskas rental vacancies increased 13.5%. From 2015 to 2020, Marylands rental vacancy rate declined 32.9%. Homeowner vacancy in Missouri is 0.9%, up 200% from the previous quarter. "Multifamily vacancies hit 4.7% in the third quarter of 2021, reverting back to levels seen at the end of 2019," said Victor Calanog, Head of CRE Economics for Moody's Analytics. This statistic is not included in your account. "The vacancy rate will likely bounce in the 0.5 per cent range for the next few quarters," said Derrick Gonzales, a research analyst with the commercial real estate agency, who noted that this . Its important to look at each of these macroeconomic factors: Together, these factors may lead to a mild to moderate recession in 2023. The retail vacancy rate in Greenpoint and. But theres nothing new about commercial real estates cyclical nature. Coronavirus (COVID-19): impact on the retail landscape in the U.S. Find your information in our database containing over 20,000 reports, hit the United States real estate markets. Then you can access your favorite statistics via the star in the header. In suburban areas, the rental vacancy rate is 5.3%, up 12.8% YoY. Between 2005 and 2015, rental vacancy in Pennsylvania declined 28.1%. In 2015 and 2020, Oregon had a 4.5% rental vacancy rate. Units constructed after March 2010 are the most likely to be empty with a vacancy rate of 11.3%. That could weigh on rental rates in 2023. Rental vacancy in Tennessee declined 10.8% in 2021. It is, however, important to note that none of the regions across the U.S. have seen vacancy rates dip below their pre-pandemic Q4 2019 levels, according to Moodys Analytics. New Haven-Milford has a rental vacancy rate of 0.6%, down 88.2% YoY. E-commerce will likely serve as a tailwind for the logistics industryand industrial warehouse and distribution propertiesfor at least 10 years, Calanog said. San Jose-Sunnyvale has a rental vacancy rate of 5.2%, up 20.9% YoY. Between 2022Q2 and 2022Q3, Minnesotas rental vacancies increased 12.5%. Birmingham-Hoover, Alabama has the highest vacancy rate among the same set of cities at 18.4%, down 16.0% YoY. This is the biggest drop since December. Rental vacancy in New Mexico increased 57.1% in 2021. The Cincinnati metropolitan area has a rental vacancy rate of 5.3%, up 60.6% YoY. That translates to less credit and lending activity, and continued volatility for asset pricing.. Available: https://www.statista.com/statistics/1200151/vacancy-rate-shopping-center-real-estate-usa-by-city/, Vacancy rate of shopping center real estate in the United States in the 2nd quarter 2020 and 2nd quarter 2021, by market, Available to download in PNG, PDF, XLS format, Retail real estate market in the United States, Commercial real estate investment value in the U.S. 2019-2022, by property type, Share of commercial property investments in the U.S. 2020-2022, by asset class, Change in commercial property investment volumes U.S. 2020-2022, by asset class, Commercial property investment prospects in the U.S. 2017-2023, Commercial development prospects in the U.S. 2017-2023, Total return REITs in the U.S. 2018-2022, by property type, Recommendations to buy, hold, or sell a retail property in the U.S. 2023, by city, Retail property investment volumes in major metropolitan areas in the U.S. 2022, Leading retail property markets in the U.S. 2020, by number of deals, Retail property transactions volume in the U.S. 2020, by property type, Volume of shopping center property in the U.S. 2022, by region, Retail property leasing activity distribution in the U.S. Q1 2022, by type, Shopping center property net absorption in the U.S. Q3 2019-Q1 2022, Shopping center property net absorption in the U.S. 2020-2022, by region, Shopping center property net absorption in the U.S. 2020, by market, Shopping center property vacancy rate U.S. Q3 2019-Q1 2022, Shopping center property vacancy rate in the U.S. 2020-2022, by region, Retail space closures in the U.S. 2016-2020, Delinquent retail loans during COVID-19 in large U.S. metros 2020, Delinquent retail property loans during COVID-19 in large U.S. metros 2020, Delinquent rate of retail space during COVID-19 in large U.S. metros in 2020, Vacant retail stores in the United Kingdom (UK) 2014, by retail property type, Retail centers: average vacancy rate in Great Britain 2017, by region, Shopping center vacancy rates in Great Britain 2013-2015, by country, Americas' cities with the highest growth of office space rental rates 2017-2019, Office space vacancy share in Chennai India 2016-2021, Office vacancy rate in Seoul South Korea Q4 2018, by building class, Vacancy rates for office real estate in Vienna districts, Austria 2019-2020, Office space vacancy share in Bengaluru India 2016-2021, Office vacancy rate in Seoul South Korea Q1 2019-Q4 2021, Post-administration retail stores reoccupied in the UK 2014, by property type, Vacancy rate in selected North American office markets Q4 2021, Leading cities with the lowest office space vacancy rates in the Americas 2019, Vacant retail stores in the United Kingdom (UK) 2014, by region, Office space vacancy share in Ahmedabad India 2016-2021, Vacancy rate of MOBs in selected markets in the U.S. 2018, Retail real estate transaction volume in Europe 2019-2020, by market, Number of shopping centers planned by city in France 2014, Worldwide vacancy rate URW shopping malls 2020, by country, Baltics: shopping centers vacancy rate 2020, by capital city. The vacancy rate and occupancy rate should add up to 100%. In the Manchester metropolitan area, the multifamily rental vacancy rate is 2.4% in 2022Q3, up 60.0% YoY. Columbia has 2.8% rental vacancy, down 67.1% YoY. In 2019 and 2020, homeownership increased by 4.0% and 10.8%, respectively. From 2015 to 2020, Texass rental vacancy rate declined 8.79%. From 2015 to 2020, Oklahomas rental vacancy rate increased 21.3%. 33.5% of Arkansas households do not own a home as of 2022Q3. Member FDIC. In addition to office, the 2023 Commercial Real Estate Forecast shows growth in certain niches of the manufacturing sector. Unit 2: 10 days vacant / 365 rentable days = 2.7% vacancy rate. The statewide rental vacancy rate in Tennessee is 7.8% as of the end of 2022Q3; thats 30.0% above the national average. Tennessee rental vacancy is down 7.14% YoY. Homeowner vacancy in North Carolina is 0.7%, down 12.5% from the previous quarter. Albuquerque has a vacancy rate of 5.2%, down 5.45% YoY. Homeowner vacancy in North Dakota is 0.7%, down 46.2% from the previous quarter. The statewide rental vacancy rate in Colorado is 5.0% as of the end of 2022Q3; thats 16.7% below the national average. The homeowner vacancy rate in Vermont is 0.7%, up 40.0% from the previous quarter. Homeowner vacancy in New Mexico is 0.9%, down 10.0% from the previous quarter. Amanda possesses comprehensive experience in both database management and trend analysis. The multifamily market had a historic year, with 1.07 million units absorbed since the pandemic, according to NAR's December 2021 Commercial Market Insights Report. Four (4) major metropolitan rental markets are have high vacancy: Greensboro-High Point, North Carolina (17.5%), Little Rock- North Little Rock- Conway, Arkansas (13.3%). Wisconsin rental vacancy is down 11.8% YoY. From 2015 to 2020, Indianas rental vacancy rate declined 18.2%. J.P. Morgans website and/or mobile terms, privacy and security policies dont apply to the site or app you're about to visit. Homeowner vacancy in New Hampshire is 0.4%, the same as from the previous quarter. In Los Angeles, 24.1 percent of its offices are without tenants, and in Chicago, the office vacancy rate is 21.9 percent. Rhode Island rental vacancy is up 120% YoY. Between 2005 and 2015, rental vacancy in Mississippi declined 21.8%. Knoxville has a rental vacancy rate of 7.8%, up 23.8% YoY. Prior to joining Colliers, I was a Compliance Specialist at Orlando-based FBC Mortgage, where I provided guidance to originators regarding disclosures and assistance in the interpretation of federal, state, and industry regulations. Rental vacancy statistics indicate dramatic reduction in renters on the coasts; this may indicate a population decline or an increase in homeownership. 27.5% of Alabama households do not own their home as of 2022Q3. The New Orleans-Metairie metropolitan area has a 6.5% rental vacancy rate, with no change YoY. 40.6% of Nevada households do not own a home as of 2022Q3. Homeowner vacancy in Illinois is 1.3%, down 13.3% from the previous quarter. Owner-occupied homes see lower vacancy rates on average than rentals do. Between 2005 and 2015, rental vacancy in Oregon declined 37.5%. + Follow. The statewide rental vacancy rate in Texas is 8.1% as of the end of 2022Q3; thats 35.0% above the national average. Massachusetts rental vacancy is up 42.9% YoY. Between 2005 and 2015, rental vacancy in Ohio declined 45.8%. Between 2022Q2 and 2022Q3, North Carolinas rental vacancies increased 53.7%. Are you interested in testing our business solutions? You need at least a Starter Account to use this feature. As empty units diminish, finding an apartment becomes more difficult, and property owners are able to ask for higher prices. Between 2005 and 2015, rental vacancy in North Carolina declined 27.1%. Homeowner vacancy in South Dakota is. Between 2022Q2 and 2022Q3, South Carolinas rental vacancies declined 33.3%. The Indianapolis-Carmel-Anderson metropolitan area has an 11.9% rental vacancy rate, up 91.9% YoY. Between 2022Q2 and 2022Q3, Californias rental vacancies remained stable. Rental vacancy in Alaska declined 39.7% in 2021. The statewide rental vacancy rate in Oklahoma is 9.0% as of the end of 2022Q3; thats 50.0% above the national average. You can only download this statistic as a Premium user. Based in Chicago, Amanda partners with national and local teams to deliver market intelligence initiatives and provide direction to drive national competitive advantage through research strategy, development and analytics. Minneapolis Industrial Market. 29.7% of Arizona households do not own a home as of 2022Q2. 46.0% of New York households do not own a home as of 2022Q3. Statistics indicate a growing suburban rental market and a return to cities. Between 2005 and 2015, rental vacancy in D.C. declined 44.6%. 27.7% of Idaho households do not own a home as of 2022Q3. 55.8% of D.C. households do not own a home as of 2022Q3. The Atlanta-Sandy Springs-Roswell metropolitan area has a rental vacancy rate of 6.5%, up 6.56% YoY. But both cities also entered the pandemic with much higher vacancy. North Carolina rental vacancy is up 69.4% YoY. After decades of trying to revive B- and C-class malls for sales tax purposes, some cities are redeveloping these spaces. The industry has begun to respond and deliver record amounts of new warehouses. Miami Office: $44.9B Miami Industrial: $63.3B Miami Multifamily: $67.4B Miami Retail: $60.6B 6) Miami CRE Sales Statistics (Past 12 Months) Miami's commercial real estate market sales in 2022 across the four principal sectors. on the market in Q4 2022. Read More. Featured national commercial real estate reports, Discover our local market commercial real estate outlooks, H2 2022 Hampton Roads Multifamily Research Report, Minneapolis St Paul Year End Industrial Report 2022. Homeowner vacancy in Massachusetts is 0.7%, up 16.7% from the previous quarter. The Chicago-Naperville-Elgin metropolitan area has an 5.6% rental vacancy rate, down 31.7% YoY. Established in 1980, the Oklahoma City office has developed an unparalleled commitment to customer service that suits the unique needs of each client. Homeowner vacancy in Hawaii is 0.9%, decline 18.2% the previous quarter. From 2015 to 2020, vacant rentals decreased 3.6%. But much like the housing market, the newer, renovated spaces, are in high demand. From 2015 to 2020, North Dakotas rental vacancy rate increased 31.2%. Between 2005 and 2015, rental vacancy in South Carolina increased 12.7%. The office vacancy rate represents the percentage of available rental units out of known commercial rental units. . The Phoenix-Mesa metropolitan area has a vacancy rate of 6.6%, up 61.0% YoY. Tulsas rental vacancy rate is 3.3%, down 41.1% YoY. The risk free rate is the interest rate on a 10-year United States Treasury Bill. Rising interest rates: As of the November Federal Open Market Committee meeting, the target federal funds range is 3.75% to 4.0%a level last seen in 2008. The statewide rental vacancy rate in Massachusetts is 3.0% as of the end of 2022Q3; thats 50.0% below the national average. . From 2010 to 2020, housing vacancies declined 57.7%. Between 2022Q2 and 2022Q3, Idahos rental vacancies increased 13.2%. Between 2005 and 2015, rental vacancy in Wyoming increased 13.6%. Multifamily recovery: Multifamily and retail real estate markets have largely recovered from the early days of the pandemic. Montana rental vacancy is down 34.2% YoY. Nashville-Davidson-Murfreesboro-Franklin has 6.6% rental vacancy, down 27.5% YoY. Syracuse has 10.5% rental vacancy, up 6.06% YoY. Collection of MarketBeat reports highlighting commercial real estate activity in Salt Lake City. The Portland-Vancouver-Hillsboro metropolitan area has a rental vacancy rate of 1.8%, down 64.0% YoY. Published Feb 22, 2023. For example, people still want to shop at a grocery store for certain items, pick up prescriptions, get a haircut or grab coffee. Rental vacancy in Vermont declined 20.6% in 2021. Among states, Rhode Island has the highest rate of new vacancies in 2022 Q3, up 120% YoY. The statewide rental vacancy rate in Kentucky is 5.1% as of the end of 2022Q3; thats 15.0% below the national average. Plus, supply chain issues persist, and inflation is near 40-year highs, prompting the Fed to steadily increase interest rates. Neighborhood shopping centers in well-populated residential areas continue to perform well. Between 2005 and 2015, rental vacancy in Oklahoma declined 37.0%. Between 2022Q2 and 2022Q3, Indianas rental vacancy rate increased 1.15%. Connecticut and Virginia have the greatest rate of decline at 51.2% and 50.0%, respectively. New Jersey rental vacancy is up 6.45% YoY. The Portland-South Portland metropolitan area has a 4.5% multifamily rental vacancy rate in 2022Q3, down 8.16% YoY. Apartments with 6 or more rooms have a vacancy rate of 4.9%. Vacancy rates vary greatly across the City, however: In 2017, the city-wide retail vacancy rate was 5.8 percent, up from 4.0 percent in 2007. Rental vacancy in North Dakota decreased 5.88% in 2021. 33.1% of Alaskan households do not own their home as of 2022Q3. Minnesota rental vacancy is up 80.0% YoY. 33.9% of Virginia households do not own a home as of 2022Q3. Quad Cities Commercial Real Estate Market Report. But real success means understanding the local markets you servewhich is why we bring the business solutions, insights and market perspective you need. Between 2022Q2 and 2022Q3, Utahs rental vacancies increased 6.38%. There are extensive statistics on the Housing and Urban Development population, households and families, housing occupancy and vacancy, housing sales, construction costs, and mortgage financing. Vacancy rate is 3.3 %, down 46.2 % from the previous quarter the local markets servewhich... St. Louis rental vacancy in Missouri is 0.9 %, down 41.1 % YoY Point. Each client D.C. declined 44.6 % thats 15.0 % below the national average Oklahoma declined %. Of each client markets have largely recovered from the previous quarter unit 2 10! Customer service that suits the unique needs of each client declined 44.6 % Carolinas... We bring the business solutions, insights and market perspective you need at least 10 years, said... 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