- Vermont has the fourth-lowest rental vacancy rate, at 3.4%.
- Oregon leads the US with an 11.9% rental vacancy rate, followed by Indiana at 10.8% and Texas at 10.5%.
- Florida has the highest homeowner vacancy rate at 2.2%.
Vermont Business Magazine New research has revealed the states with the highest and lowest vacancy rates for rental properties, with Oregon coming out on top.
The study by Eden Emerald Mortgages identified the states with the highest and lowest vacancy rates across America using data for the first quarter of 2025 from the US Census.
The five states with the highest rental vacancy rates
|
Rank |
State |
Rental vacancy rate |
Homeowner vacancy rate |
|
1 |
Oregon |
11.9% |
1.2% |
|
2 |
Indiana |
10.8% |
1.2% |
|
3 |
Texas |
10.5% |
1.1% |
|
4= |
Louisiana |
10.2% |
1.6% |
|
4= |
Arkansas |
10.2% |
1.1% |
|
5 |
Alabama |
9.9% |
1.6% |
Oregon ranks as the state with the highest rental vacancy rate, with 11.9% of rental properties sitting empty. This rate is nearly six times higher than the bottom two states, with the state's homeowner vacancy rate sitting at 1.2%.
Indiana follows in second place with a 10.8% rental vacancy rate, while also coming in with a 1.2% homeowner vacancy rate.
Texas has the third-highest rental vacancy rate at 10.5%, combined with a relatively low 1.1% homeowner vacancy rate.
Louisiana and Arkansas tie for fourth place with both having a 10.2% rental vacancy rate. Louisiana has a higher homeowner vacancy rate of 1.6%, with Arkansas sitting at 1.1%.
Alabama rounds out the top five with a 9.9% rental vacancy rate, as well as a 1.6% homeowner vacancy rate.
The five states with the lowest rental vacancy rates
|
Rank |
State |
Rental vacancy rate |
Homeowner vacancy rate |
|
1= |
Rhode Island |
2.1% |
0.5% |
|
1= |
Maine |
2.1% |
0.4% |
|
2 |
New Hampshire |
3.3% |
0.4% |
|
3 |
Vermont |
3.4% |
0.6% |
|
4 |
Colorado |
3.6% |
0.6% |
|
5 |
Montana |
4.3% |
0.6% |
At the opposite end of the scale, Rhode Island and Maine tie for the lowest rental vacancy rates in the country at just 2.1%. They also see low homeowner vacancy rates at 0.5% and 0.4%, respectively.
New Hampshire has the third-lowest rental vacancy rate at 3.3%, and also has a 0.4% homeowner vacancy rate.
Vermont ranks fourth from the bottom with a 3.4% rental vacancy rate and a 0.6% homeowner vacancy rate.
Colorado rounds out the bottom five with a 3.6% rental vacancy rate and 0.6% homeowner vacancy rate.
Additionally, Minnesota was found to have the nation's lowest homeowner vacancy rate at just 0.1%.
Shaun Bettman, CEO of Eden Emerald Mortgages, commented on the findings, "These findings show a major regional variation across the US. States with higher vacancy rates may find themselves affected by things like slower population growth, economic uncertainty, or, generally, renters being priced out of the homes they want.
“Southern states dominate the list of states with the highest vacancy rates, with states in the Northeast and Mountain West seeing a much lower vacancy rate on average, and this could be down to things like higher demand being combined with a tighter inventory. Lower vacancy areas are where landlords may find it to be less of a challenge trying to lease a property, and as a result they deal with less financial burden and can be more selective with prospective tenants.”
Full dataset - States ranked by rental vacancy rate
|
Rank |
State |
Rental vacancy rate |
Homeowner vacancy rate |
|
1 |
Oregon |
11.9% |
1.2% |
|
2 |
Indiana |
10.8% |
1.2% |
|
3 |
Texas |
10.5% |
1.1% |
|
4 |
Louisiana |
10.2% |
1.6% |
|
5 |
Arkansas |
10.2% |
1.1% |
|
6 |
Alabama |
9.9% |
1.6% |
|
7 |
South Carolina |
9.9% |
1.4% |
|
8 |
Florida |
9.7% |
2.2% |
|
9 |
Missouri |
9.7% |
1.5% |
|
10 |
Michigan |
9.2% |
0.8% |
|
11 |
Kentucky |
9.2% |
0.3% |
|
12 |
Iowa |
8.9% |
0.9% |
|
13 |
Kansas |
8.7% |
1.0% |
|
14 |
North Dakota |
8.4% |
1.1% |
|
15 |
Tennessee |
8.2% |
1.3% |
|
16 |
Washington |
8.0% |
1.0% |
|
17 |
Hawaii |
8.0% |
0.9% |
|
18 |
Arizona |
7.9% |
1.4% |
|
19 |
Utah |
7.8% |
1.3% |
|
20 |
New Mexico |
7.5% |
1.1% |
|
21 |
Mississippi |
7.1% |
1.0% |
|
22 |
West Virginia |
7.1% |
0.9% |
|
23 |
Oklahoma |
7.0% |
1.6% |
|
24 |
North Carolina |
7.0% |
1.0% |
|
25 |
Wisconsin |
7.0% |
0.5% |
|
26 |
Pennsylvania |
6.8% |
0.7% |
|
27 |
Nebraska |
6.6% |
1.4% |
|
28 |
Idaho |
6.6% |
1.1% |
|
29 |
Wyoming |
6.6% |
0.7% |
|
30 |
Nevada |
6.6% |
0.6% |
|
31 |
Ohio |
6.4% |
1.1% |
|
32 |
Georgia |
6.2% |
1.2% |
|
33 |
Minnesota |
6.1% |
0.1% |
|
34 |
South Dakota |
5.9% |
0.3% |
|
35 |
Alaska |
5.4% |
1.5% |
|
36 |
Virginia |
5.4% |
1.0% |
|
37 |
Illinois |
5.5% |
1.0% |
|
38 |
Massachusetts |
5.0% |
0.2% |
|
39 |
New Jersey |
5.0% |
0.4% |
|
40 |
Delaware |
4.8% |
0.4% |
|
41 |
Maryland |
4.7% |
0.6% |
|
42 |
California |
4.6% |
1.2% |
|
43 |
New York |
4.6% |
1.0% |
|
44 |
Montana |
4.3% |
0.6% |
|
45 |
Colorado |
3.6% |
0.6% |
|
46 |
Vermont |
3.4% |
0.6% |
|
47 |
New Hampshire |
3.3% |
0.4% |
|
48 |
Rhode Island |
2.1% |
0.5% |
|
49 |
Maine |
2.1% |
0.4% |
Source: US Census - https://www.census.gov/housing/hvs/data/detailed_tables.html
Methodology:
Data was gathered from the US Census to analyze which states had the highest percentages of vacant homes when it comes to rental properties. The study examined both homeowner vacancy rates and rental vacancy rates across all 50 US states.
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