The 10 emptiest U.S. cities
The bad housing market has forced many out of their homes over the past year. Check out the 10 emptiest U.S. cities.
The U.S. housing market has fared better. The real-estate downturn has affected the economy through falling home prices and a flood of foreclosures.
The U.S. housing market has fared better. The real-estate downturn has affected the economy through falling home prices and a flood of foreclosures.
Vacant properties have increased by 43.8 percent nationwide since 2000, according to the U.S. Census Bureau. Vacant homes are defined by the bureau as both unoccupied rental inventory as well as homes that are unoccupied and “for sale.”
In a study conducted by the Cleveland Federal Reserve, a vacant or tax delinquent house decreases the value of nearby homes by at least 1.3 percent. In higher-income neighborhoods, the negative price impact is 4.6 percent.
The Census Bureau publishes data on homeowner and rental vacancies in the 75 largest U.S. cities. Here are the 10 cities with the most vacancies, using a weighted ranking of both rental and homeowner vacancies based on a 12-month average.
10. Toledo, Ohio-- Rental vacancy rate: 11.5%, Homeowner vacancy rate: 3.8%
9. Tampa, Fla.-- Rental vacancy rate: 12.8%, Homeowner vacancy rate: 3.2%
8. Houston-- Rental vacancy rate: 15.5%, Homeowner vacancy rate: 1.9%
7. Atlanta-- Rental vacancy rate: 11.3%, Homeowner vacancy rate: 4.2%
6. Las Vegas-- Rental vacancy rate: 11.9%, Homeowner vacancy rate: 3.9%
5. Richmond, Va.-- Rental vacancy rate: 15.1%, Homeowner vacancy rate: 2.4%
4. Detroit-- Rental vacancy rate: 16.9%, Homeowner vacancy rate: 1.7%
3. Memphis, Tenn.-- Rental vacancy rate: 15%, Homeowner vacancy rate: 3.1%
2. Dayton, Ohio-- Rental vacancy rate: 11.3%, Homeowner vacancy rate: 5.4%
1. Orlando, Fla.-- Rental vacancy rate: 18.8%, Homeowner vacancy rate: 2.2%
To read more of CNBC's list of the ten emptiest U.S. cities, click here.
