The count of housing units that are currently not occupied. This includes units for rent, for sale, rented or sold awaiting occupancy, seasonal/recreational use, migrant worker housing, or other vacant reasons.
Indicates the available housing supply within a market. A significant number of vacant units can suggest oversupply, economic distress, or properties held for specific purposes (like seasonal homes), impacting housing prices and development.
Specific Relevance for Professionals:
Marketers
Helps identify potential markets for property management services, home staging, or security systems. High vacancy in specific areas might also indicate a need for targeted advertising for rental or sale properties.
Researchers
Fundamental for studying housing market dynamics, property speculation, urban blight, and the availability of housing stock. It helps analyze the health of local real estate markets.
Consultants
Crucial for real estate developers assessing new construction viability (high vacancy can signal low demand), or for investors looking for undervalued properties. Also relevant for urban revitalization projects.
Public Policy Workers
Paramount for informing housing policy (e.g., managing housing supply, addressing homelessness, revitalizing neighborhoods), property tax assessments, and understanding the unused housing capacity within a jurisdiction.