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Census: Rental vacancy rates continue to drop

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U.S. rental vacancy rates continue their downward slide, according to the U.S. Census Bureau.

For the third quarter, the national rate was 8.3 percent, the bureau said in its latest quarterly report on housing vacancies and homeownership.

U.S. rental rates have been trending down since highs of 10 and 11 percent in 2009 and 2010.

Meanwhile, homeownership rates might be stabilizing after peaking in the 69 percent range in 2004, 2005 and 2006. Rates have been fallen to 65 percent.

CategoryU.S.NortheastPennsylvania
Q3 rental vacancy rate, 20138.3%7.2%11.3%
Q3 rental vacancy rate, 20128.6%7.1%9.7%
Q3 homeowner vacancy rate, 20131,9%1.5%1.7%
Q3 homeowner vacancy rate, 20121.9%1.9%1.6%
Q3 homeownership rate, 201365.3%63.6%N/A
Q3 homeownership rate, 201265.3%63.9%N/A
Q3 median asking rent price, 2013$736N/AN/A
Q3 median asking rent price, 2012$140,600N/AN/A
Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin County. Have a tip or question for him? Email him at jasons@cpbj.com. Follow him on Twitter, @JScottJournal. Circle Jason Scott on .

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