West Virginia rental vacancy is down 3.03% YoY. Published: 2:21 PM Feb 27, 2023. The statewide rental vacancy rate in Alaska is 6.2% as of the end of 2022Q3; thats 3.33% above the national average. Units constructed after March 2010 are the most likely to be empty with a vacancy rate of 11.3%. Rental vacancy in Idaho increased 14.3% in 2021. The New Orleans-Metairie metropolitan area has a 6.5% rental vacancy rate, with no change YoY. Looking ahead, we are not in the office is dead camp, but we think cash flow growth will be challenged in the office sector, said Anthony Paolone, Senior Analyst and Co-Head of U.S. Real Estate Stock Research at JPMorgan Chase. The average vacancy rate for office space in Northern Virginia is 18.3 per cent, one percentage point higher than in 2014. From 2015 to 2020, Ohios rental vacancy rate increased 16.9%. New York rental vacancy is down 15.7% YoY. Rental vacancy in Iowa declined 11.8% in 2021. Rental vacancy rates increased 48.4% in 2021. 21.5% of rental vacancies are units with 6 or more rooms. Houston-The Woodlands-Sugar Land has a vacancy rate of 8.8%, up 10.0% YoY. Between 2005 and 2015, rental vacancy in Georgia declined 41.9%. Rental vacancy in Vermont declined 20.6% in 2021. Rental vacancy in Hawaii increased 16.9% in 2021. Commercial real estate investment totalled $58.5 billion in 2022, which . 22.2% of West Virginia households do not own a home as of 2022Q3. Cushman & Wakefield. Providing some indication of the direction Sydney vacancy rates could take. In some cases, the right location with the right amenitiesthink optimizing floorplans for collaboration, offering private outdoor space and adding onsite services such as childcare and cateringmay bring employees back to the office. Between 2022Q2 and 2022Q3, Washingtons rental vacancies increased 37.5%. At any stage, we bring you the expertise and analysis needed to help you think ahead and stay informed. Below are the total asset values of commercial real estate properties in Miami per sector. Among states, Rhode Island has the highest rate of new vacancies in 2022 Q3, up 120% YoY. The statewide rental vacancy rate in Colorado is 5.0% as of the end of 2022Q3; thats 16.7% below the national average. From 2015 to 2020, Nevadas rental vacancy rate decreased 2.56%. Thus demand increased enough to keep the vacancy rate steady from quarter to quarter. New Hampshire rental vacancy is up 44.0% YoY. The statewide rental vacancy rate in Nevada is 5.9% as of the end of 2022Q3; thats 1.67% below the national average. However, while they are both important, they measure different things and can give you additional insights into the market. In the Midwest, the vacancy rate is 7.1%, up 12.7% YoY. 35.7% of Texas households do not own a home as of 2022Q3. Rates are somewhat higher in districts to the north of the I-25, where they average $22.50. Market Insights Rate rises another blow to a struggling retail sector News What you need to know in property this week The overall office vacancy rate on the Oklahoma City market was 14.54% in 2021. From 2015 to 2020, North Dakotas rental vacancy rate increased 31.2%. [Online]. The Cincinnati metropolitan area has a rental vacancy rate of 5.3%, up 60.6% YoY. From 2010 to 2020, rental vacancy rates declined 39.6% or at an annual rate of 3.96%. Between 2005 and 2015, rental vacancy in Rhode Island declined 43.9%. The statewide rental vacancy rate in North Carolina is 8.3% as of the end of 2022Q3; thats 38.3% above the national average. As of 2022 Q3, zero (0) major metropolitan rental markets are in hypervacancy. Industrial may be challenged by its longer leases, which generally only account for 2%3% inflation. 4.89% of habitable rental units in the United States are vacant. 39.1% of Massachusetts households do not own a home as of 2022Q3. The vacancy rates of shopping center real estate in the United States varied between different cities as of the second quarter of 2020 and 2021. In 2015 and 2020, Oregon had a 4.5% rental vacancy rate. In 2005 and 2015, Vermont had a 4.9% rental vacancy rate.. 26.6% of Vermont households do not own a home as of 2022Q3. Terms & Privacy | Legal Disclaimer | Sitemap | Contact Us, United States Census Bureau (Census), Housing Vacancies and Homeownership, National Association of Realtors, Commercial Real Estate Metro Market Reports, Keller Williams Realty Boise, Boise Rental Market & Vacancy Rates, Census, Population and Housing Unit Estimates, Redfin News, Housing Market News: Rental Tracker, The Empty House Next Door: Understanding and Reducing Vacancy and Hypervacancy in the United States, The national rental vacancy rate declined, Rental vacancy in principal cities declined, The median monthly rental price among vacancies was. The national retail (all retail) vacancy rate has drifted upward since late 2018 (see the chart). Columbus has a rental vacancy rate is 2.8%, down 59.4% YoY. That translates to less credit and lending activity, and continued volatility for asset pricing.. Office: 7.5% Industrial: 7.0% Multifamily: 6.1% Retail: 7.5% 2) Chicago Commercial Real Estate Vacancy Rates Rental vacancy in North Carolina declined 8.70% in 2021. For most of the past decade, the national rental vacancy rate has steadily declined. Highrise structures with many small units built after March 2010 are the most likely to have high rental vacancy rates. Rental vacancy in Maine increased 28.9% in 2021. Between 2022Q2 and 2022Q3, New Hampshires rental vacancies declined 20.0%. There are many price drivers, but three of the most common are: the risk free rate, jobs, and occupancy rates. Jump to a state: AL | AK | AZ | AR | CA | CO | CT | DE | DC | FL | GA | HI | ID | IL | IN | IA | KS | KY | LA | ME | MD | MA | MI | MN | MS | MO | MT | NE | NV | NH | NJ | NM | NY | NC | ND | OH | OK | OR | PA | RI | SC | SD | TN | TX | UT | VT | VA | WA | WV | WI | WY. 25.6% of South Carolina households do not own a home as of 2022Q3. Highlights. From 2015 to 2020, Virginias rental vacancy rate increased 69.2%. 30.2% of Nebraska households do not own a home as of 2022Q3. The market realized an increase in asking rental rates in the fourth quarter of 2022, as rents climbed to a record high of $21.52/SF, up $0.22/SF from the third quarter of 2022. From 2015 to 2020, rental vacancy increased 13.0%. After decades of trying to revive B- and C-class malls for sales tax purposes, some cities are redeveloping these spaces. Statista. The statewide rental vacancy rate in South Carolina is 4.2% as of the end of 2022Q3; thats 30.0% below the national average. You only have access to basic statistics. The statewide rental vacancy rate in Louisiana is 7.8% as of the end of 2022Q3; thats 30.0% above the national average. Homeowner vacancy in Maine is 0.8%, up 300% from the previous quarter. In 2015 and 2020, Kansas had a rental vacancy rate of 12.1%. The Milwaukee-Waukesha-West Allis metropolitan area has a 4.1% rental vacancy rate, up 86.4% YoY. Mississippi rental vacancy is down 14.0% YoY. Between 2022Q2 and 2022Q3, Oklahomas rental vacancies increased 23.3%. Multifamily is currently the highest performing of all asset classes. Between 2005 and 2015, rental vacancy in Indiana declined 24.1%. Neighborhood shopping centers in well-populated residential areas continue to perform well. Knoxville has a rental vacancy rate of 7.8%, up 23.8% YoY. Between 2005 and 2015, rental vacancy in Michigan declined 30.8%. Learn more about how Statista can support your business. Between 2022Q2 and 2022Q3, Arizonas rental vacancies increased 21.8% from a rate of 5.5%. Rental vacancy in D.C. declined 23.2% in 2021. Wyoming rental vacancy is down 2.67% YoY. The Tampa-St. Petersburg-Clearwater metropolitan area rental vacancy rate is 9.7%, up 38.6% YoY. Between 2005 and 2015, rental vacancy in Connecticut declined 39.1%. Read all about Mark Kolsrud and Peter Loehrers 2022 review and 2023 predictions. The Dallas-Ft. Worth-Arlington metropolitan area has a vacancy rate of 7.0%, up 12.9% YoY. 36.2% of Connecticut households do not own a home as of 2022Q3. Homeowner vacancy in Connecticut is 1.4%, down 65.0% from the previous quarter. Between 2005 and 2015, rental vacancy in Illinois declined 37.5%. Between 2005 and 2015, rental vacancy in New Mexico increased 14.3%. Rental vacancy in Virginia declined 21.9% in 2021. Please create an employee account to be able to mark statistics as favorites. The Riverside-San Bernadino-Ontario metropolitan area has a rental vacancy rate of 3.4%, up 54.5% YoY. The statewide rental vacancy rate in Minnesota is 9.0% as of the end of 2022Q3; thats 50.0% above the national average. Learn more about our commercial real estate solutions: Global opportunities mean global challenges. Between 2022Q2 and 2022Q3, Oregons rental vacancies declined 9.09%. Between 2022Q2 and 2022Q3, D.C.s rental vacancies declined 9.41%. Between 2022Q2 and 2022Q3, Texass rental vacancies increased 9.46%. Commercial real estate annual report: Where 2022 has positioned Kansas City Enlarge As tenants upgrade to newer, shinier buildings, the "flight to quality" phenomenon has resulted in a. The statewide rental vacancy rate in Arizona is 6.7% as of the end of 2022Q3; thats 11.7% above the national average. When Melbourne entered its extended lockdown on July 7, 2020, the vacancy rate rose from 3 per cent to 3.2 per cent from June to July but rose significantly in August to 3.9 per cent. Rental vacancy in Alabama increased 25.0% in 2021. In 2015 and 2020, Tennessee had a 7.4% rental vacancy rate. Between 2022Q2 and 2022Q3, Alaskas rental vacancies increased 51.2% from a rate of 4.1%. My expertise in both leasing and investment sales ranged across multiple asset types including retail, industrial, office, and multifamily. 2022 real estate trends to watch. . Columbia has 2.8% rental vacancy, down 67.1% YoY. 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. Between 2022Q2 and 2022Q3, Colorados rental vacancies increased 25.0%. The statewide rental vacancy rate in Wyoming is 7.3% as of the end of 2022Q3; thats 21.7% above the national average. Albuquerque has a vacancy rate of 5.2%, down 5.45% YoY. 46.0% of New York households do not own a home as of 2022Q3. Q4 2022 Salt Lake City Industrial Report. Improve your working capital, reduce fraud and minimize the impact of unexpected disruptions with our treasury solutionsfrom digital portals to integrated payables and receivablesall designed to make your operations smoother and more efficient. Rental vacancy in Texas increased 2.56% in 2021. Between 2005 and 2015, rental vacancy in South Carolina increased 12.7%. Between 2005 and 2015, rental vacancy in Nebraska declined 47.4%. Massachusetts rental vacancy is up 42.9% YoY. The statewide rental vacancy rate in Michigan is 6.6% as of the end of 2022Q3; thats 10.0% above the national average. 55.8% of D.C. households do not own a home as of 2022Q3. 29.6% of Maryland households do not own a home as of 2022Q3. Average asking rents: $23.89 per SF year, full service gross, all classes. Show publisher information Outside metropolitan statistical areas, rental vacancy is 7.0%; this is up 9.38% YoY. Allentown-Bethlehem has 6.4% rental vacancy, up 113.3% YoY. From 2015 to 2020, Illinoiss rental vacancy rate declined 6.25%. Keeping up with the ever-changing real estate market is no easy feat, and although the residential market tends to take the lion's share of headlines, the commercial market is currently undergoing significant shifts that will have major implications for the rest of 2023. Office vacancy rates across the country stand at a record 19.1 percent, with Chicago, Houston and San Francisco running above 20 percent, according to Jones Lang LaSalle, a commercial real. Between 2005 and 2015, rental vacancy in Florida declined 23.6%. "Almost on a weekly basis, things . Between 2022Q2 and 2022Q3, Rhode Islands rental vacancied increased 41.0%. 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