Platform · Glossary
Vacant ratio.
The share of all housing units in a geography that the Census classifies as vacant. Published as part of ACS housing statistics. In 3Y's benchmark table, the tooltip is precise: "Share of housing units sitting empty. This is a negative metric, where lower is better."
What's included
The Census definition of "vacant" includes more than just rental units sitting empty:
- For-rent vacant — the closest analog to operational rental vacancy
- For-sale vacant — listed but not yet sold
- Seasonal, recreational, or occasional use — vacation homes
- For migrant workers — typically rural and agricultural
- Other vacant — held off market, awaiting probate, undergoing renovation
The mix of these categories shifts the meaning of the number. A coastal resort market with 30% vacant ratio is mostly seasonal homes; a Rust Belt market with 30% vacant ratio is mostly demand-side weakness.
How to read it
In non-resort markets, persistently high vacant ratios point to one of two issues — population decline or chronic oversupply. Both translate into structural rent and price pressure. 3Y surfaces vacant ratio on market pages alongside rental vacancy so the reader can see the full picture.