Census Bureau ACS data showing rental market tightness for all 50 states and DC
| State | Abbr | Vacancy Rate | Market Signal |
|---|---|---|---|
| Alabama | AL | 10.5% | ⚠️ Soft |
| Alaska | AK | 5.9% | ⚖️ Balanced |
| Arizona | AZ | 6.8% | ⚖️ Balanced |
| Arkansas | AR | 11.2% | ⚠️ Soft |
| California | CA | 4.1% | 🔥 Tight |
| Colorado | CO | 5.2% | ⚖️ Balanced |
| Connecticut | CT | 4.8% | 🔥 Tight |
| Delaware | DE | 5.4% | ⚖️ Balanced |
| District of Columbia | DC | 7.1% | ⚖️ Balanced |
| Florida | FL | 7.9% | ⚖️ Balanced |
| Georgia | GA | 7.2% | ⚖️ Balanced |
| Hawaii | HI | 4.6% | 🔥 Tight |
| Idaho | ID | 4.9% | 🔥 Tight |
| Illinois | IL | 7.1% | ⚖️ Balanced |
| Indiana | IN | 8.3% | ⚠️ Soft |
| Iowa | IA | 7.0% | ⚖️ Balanced |
| Kansas | KS | 7.8% | ⚖️ Balanced |
| Kentucky | KY | 8.4% | ⚠️ Soft |
| Louisiana | LA | 11.6% | ⚠️ Soft |
| Maine | ME | 3.8% | 🔥 Tight |
| Maryland | MD | 4.9% | 🔥 Tight |
| Massachusetts | MA | 3.4% | 🔥 Tight |
| Michigan | MI | 7.5% | ⚖️ Balanced |
| Minnesota | MN | 4.8% | 🔥 Tight |
| Mississippi | MS | 12.4% | ⚠️ Soft |
| Missouri | MO | 8.6% | ⚠️ Soft |
| Montana | MT | 5.1% | ⚖️ Balanced |
| Nebraska | NE | 6.2% | ⚖️ Balanced |
| Nevada | NV | 6.4% | ⚖️ Balanced |
| New Hampshire | NH | 3.1% | 🔥 Tight |
| New Jersey | NJ | 4.2% | 🔥 Tight |
| New Mexico | NM | 8.7% | ⚠️ Soft |
| New York | NY | 4.3% | 🔥 Tight |
| North Carolina | NC | 6.5% | ⚖️ Balanced |
| North Dakota | ND | 5.8% | ⚖️ Balanced |
| Ohio | OH | 8.2% | ⚠️ Soft |
| Oklahoma | OK | 8.9% | ⚠️ Soft |
| Oregon | OR | 4.4% | 🔥 Tight |
| Pennsylvania | PA | 6.0% | ⚖️ Balanced |
| Rhode Island | RI | 3.6% | 🔥 Tight |
| South Carolina | SC | 8.1% | ⚠️ Soft |
| South Dakota | SD | 5.9% | ⚖️ Balanced |
| Tennessee | TN | 7.4% | ⚖️ Balanced |
| Texas | TX | 7.8% | ⚖️ Balanced |
| Utah | UT | 4.7% | 🔥 Tight |
| Vermont | VT | 3.2% | 🔥 Tight |
| Virginia | VA | 5.1% | ⚖️ Balanced |
| Washington | WA | 4.0% | 🔥 Tight |
| West Virginia | WV | 11.8% | ⚠️ Soft |
| Wisconsin | WI | 5.3% | ⚖️ Balanced |
| Wyoming | WY | 6.8% | ⚖️ Balanced |
Tight market (under 5%): You have pricing power. Demand exceeds supply. You can price at or above comparable market rates with confidence, and units will lease quickly even at aggressive pricing. Vacancy risk is low.
Balanced market (5–8%): Price at or near comparable market rates. Expect normal leasing timelines. Quality marketing and showing preparation matter more than in tight markets.
Soft market (over 8%): Competition is high. Price competitively, offer move-in incentives if necessary, and prioritize tenant retention at renewal — replacing a tenant in a soft market is expensive. Pay close attention to condition and amenities relative to comparables.
Under 5% is a tight market with strong landlord pricing power. 5–8% is balanced. Over 8% is a soft market where landlords face more competition for tenants.
Low vacancy rates allow landlords to charge higher rents because tenants have fewer alternatives. High vacancy rates create downward pressure on rents as landlords compete for a smaller pool of qualified tenants.
This data comes from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates 2023 — the most comprehensive and statistically reliable housing survey in the United States, covering approximately 3.5 million addresses per year.
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