Real estate & rental
Real Estate Vacancy Rate Calculator
Vacancy and occupancy across a portfolio, by unit count and by rent value.
Result
An arithmetic tool, not financial or legal advice. Lending criteria, tax treatment and tenancy law all vary by state and change regularly. Confirm anything that affects a decision with a lender, an accountant or an attorney. Physical and economic vacancy differ, and economic is the more honest measure. A portfolio can show 4% physical vacancy on the day you count and 9% economic vacancy across the year, because units turn at different times and concessions reduce collected rent further.
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About this calculator
Which measure do lenders use?
Usually economic, or their own minimum assumption, whichever is worse for you. Physical vacancy on a single day is easy to time favourably.
What is a normal vacancy rate?
Highly market dependent. Five percent is a common underwriting assumption in stable markets, but student, seasonal and short-term rentals behave completely differently.
The formula
physical vacancy = vacant units / total units; economic vacancy = rent lost / gross potential rent
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