New Jersey ranked 51st in the nation in the fourth quarter with a rental vacancy rate of 2.5 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 Q4
| Rank | State | Rental Vacancy Rate |
|---|---|---|
| 1 | North Dakota | 12.8% |
| 2 | Alabama | 12% |
| 3 | Mississippi | 10.7% |
| 4 | Indiana | 9.7% |
| 5 | Oklahoma | 9.5% |
| 6 | Hawaii | 8.3% |
| 7 | West Virginia | 8.1% |
| 8 | Texas | 8% |
| 8 | Missouri | 8% |
| 8 | Louisiana | 8% |
| 8 | Illinois | 8% |
| 12 | South Carolina | 7.7% |
| 13 | District of Columbia | 7.6% |
| 14 | Iowa | 7.5% |
| 14 | Arkansas | 7.5% |
| 16 | South Dakota | 7.2% |
| 17 | Wyoming | 7.1% |
| 18 | Tennessee | 6.6% |
| 18 | New Mexico | 6.6% |
| 20 | Nevada | 6.4% |
| 21 | North Carolina | 6.3% |
| 21 | Kansas | 6.3% |
| 23 | Pennsylvania | 6% |
| 23 | Kentucky | 6% |
| 23 | Georgia | 6% |
| 26 | Maine | 5.8% |
| 27 | Virginia | 5.7% |
| 28 | Delaware | 5.5% |
| 29 | Wisconsin | 5.4% |
| 29 | Florida | 5.4% |
| 31 | Colorado | 5.2% |
| 32 | Minnesota | 5.1% |
| 33 | Ohio | 5% |
| 34 | Idaho | 4.8% |
| 35 | Connecticut | 4.7% |
| 36 | Nebraska | 4.6% |
| 36 | Arizona | 4.6% |
| 38 | New York | 4.5% |
| 39 | Michigan | 4.4% |
| 40 | New Hampshire | 4.3% |
| 40 | Maryland | 4.3% |
| 42 | Montana | 4.1% |
| 43 | Rhode Island | 4% |
| 44 | Washington | 3.6% |
| 45 | California | 3.5% |
| 45 | Alaska | 3.5% |
| 47 | Massachusetts | 3.4% |
| 48 | Oregon | 3.3% |
| 49 | Utah | 3.2% |
| 50 | Vermont | 2.7% |
| 51 | New Jersey | 2.5% |
