4 ms·
I believe you are misreading this data. From the report you referenced: Vacant year-round units comprised 7.9 percent of total housing units Table 3 shows
by alex_young 3y ago
I believe you are misreading this data.
From the report you referenced:
Vacant year-round units comprised 7.9 percent of total housing units
Table 3 shows the raw numbers in thousands, so add 3 decimal places and you see that there are:
15M vacant houses
11.5M vacant year round
6.8M held off market
- Jemaclus 3y agoThanks for the correction!
- s1artibartfast 3y agoMy understanding is that short term turnover falls under the "vacant year-round" number. It doesn't mean that a given house has actually been empty for 12 months. A house that is currently for rent and has been uninhabited for 1 month counts in that category because there's no long-term residence. for example, the average time between rentals may be 1 month, but replaced by a new rental coming on market after that month. Therefore, the average is 1 vacancy year round. The census provides the average vacancy duration as 2.7 months. Of the 11.5M vacant year round, 15% have been vacant longer than 12 months. So this means about 1.6M houses. The majority of these houses are outside of metro areas. The vacancy durations are in table 8 here. https://www.census.gov/housing/hvs/data/detailed_tables.html https://www.census.gov/housing/hvs/data/detailed_tables.html