Oct 01, 2025
Rental Vacancies Ease, Homeownership Steady in Q2
The national rental vacancy rate was 7% in the second quarter of 2025, down from 7.1% in the second quarter. Since the fourth quarter of 2021, the vacancy rate has been steadily increasing. At the regional level, vacancy rates rose in Northwest and South, in contrast, the rental vacancy rate in the Midwest fell from 7.6% in the first quarter of the year to 6.6% in the second quarter. This indicates that the waiting period for rental homes has lengthened in Northwest and South.
The homeowner vacancy rate remained steady at 1.1% for the last three quarters. This value was 0.80% in the first quarter of 2024 and remained stable at 1.1% after rising for two consecutive quarters. This suggests that the proportion of homes available for sale is gradually increasing.
The homeownership rate of 65.0 percent was not different from the rate in the second quarter 2024 (65.6 percent) and not different than the rate in the first quarter 2025 (65.1 percent).
The total number of housing units nationwide reached 132.5 million in Q2, an increase from 132 million in the previous quarter. Of this growth, 271,000 units were owner-occupied, while approximately 196,000 units were renter occupied.
Description: The homeowner vacancy rate is the proportion of the homeowner inventory which is vacant for sale. The rental vacancy rates the percentage of the vacant year- round units for rent to all rental units with that specific characteristic.
