According to recent data from the Census Bureau and other sources, the vacancy rate in the United States is lower than it has been since 1985. The dropping vacancy rate, which was sitting at 6.8 percent at the end the 2015 second quarter, is due to several factors, including a rise in the number of new households and negative employment numbers.
Also, many young adults are remaining in their parents’ homes because of rising housing costs and student debt. These and other factors have slowed the construction of new multifamily homes and led to a housing shortage that could cause rental rates to go up. Rising rents affect the overall economy, and property managers and other housing professionals throughout the United States are currently working to develop solutions to the problem.