New Jersey ranked 45th in the nation in the third quarter with a rental vacancy rate of 3.3 percent, according to the U.S. Census Bureau.
The rental vacancy rate is the proportion of the homeowner inventory vacant for rent at the time of the survey.
Vacancy rates are a leading economic indicator used by economic forecasters and the federal government to gauge the current economic climate.
The bureau compiles data from a sampling of approximately 72,000 occupied and vacant housing units across the country and the District of Columbia. The bureau also collects information on homeownership vacancies, as well as certain characteristics about housing units, such as the age of household members, family status, race/ethnicity and median family income.
Rental Vacancy Rates by State in Q3
| Rank | State | Rental Vacancy Rate |
|---|---|---|
| 1 | Arkansas | 12.9% |
| 2 | North Dakota | 12.4% |
| 3 | Missouri | 9.6% |
| 4 | Alabama | 9.3% |
| 5 | Oklahoma | 9% |
| 5 | Minnesota | 9% |
| 7 | Indiana | 8.8% |
| 8 | Iowa | 8.6% |
| 8 | Hawaii | 8.6% |
| 10 | North Carolina | 8.3% |
| 11 | Texas | 8.1% |
| 12 | Mississippi | 8% |
| 13 | Tennessee | 7.8% |
| 13 | Louisiana | 7.8% |
| 15 | Illinois | 7.7% |
| 15 | District of Columbia | 7.7% |
| 17 | Florida | 7.6% |
| 18 | Wyoming | 7.3% |
| 19 | Kansas | 6.9% |
| 20 | Georgia | 6.7% |
| 20 | Arizona | 6.7% |
| 22 | Michigan | 6.6% |
| 23 | West Virginia | 6.4% |
| 24 | Alaska | 6.2% |
| 25 | Nevada | 5.9% |
| 25 | Nebraska | 5.9% |
| 27 | South Dakota | 5.8% |
| 28 | Washington | 5.5% |
| 28 | Rhode Island | 5.5% |
| 30 | New Mexico | 5.4% |
| 31 | Pennsylvania | 5.3% |
| 32 | Kentucky | 5.1% |
| 33 | Utah | 5% |
| 33 | Colorado | 5% |
| 35 | Ohio | 4.9% |
| 36 | Wisconsin | 4.5% |
| 37 | New York | 4.3% |
| 37 | Idaho | 4.3% |
| 39 | Vermont | 4.2% |
| 39 | South Carolina | 4.2% |
| 39 | Maryland | 4.2% |
| 42 | California | 4.1% |
| 43 | Delaware | 3.7% |
| 44 | New Hampshire | 3.6% |
| 45 | Virginia | 3.3% |
| 45 | New Jersey | 3.3% |
| 47 | Oregon | 3% |
| 47 | Massachusetts | 3% |
| 49 | Maine | 2.9% |
| 50 | Montana | 2.5% |
| 51 | Connecticut | 2% |
