Rental vacancy rates, state by state

Of the 40 states and the District of Columbia where we are licensed, South Carolina has the highest rental vacancy rate: about 8.3 of every 100 rental homes stood empty and for rent. Mississippi, at about 8.2, and Louisiana, at about 7.8, come next. New Jersey and Massachusetts have the smallest share, about 3.5 each, and the national figure is about 5.5.

I put this table together for landlords comparing places to own a rental, including those looking at a DSCR loan, a business-purpose mortgage based on the property’s own rent instead of your personal income.

The table: 40 states and the District of Columbia

“Per 100” means out of every 100 rental homes. The margin of error is the Census Bureau’s, at 90 in 100 confidence: the true figure is likely within that distance either way. States run from the highest rate to the smallest, with the national figure last. A linked name goes to our page on DSCR loans in that state.

Source: U.S. Census Bureau, American Community Survey 5-year estimates, 2020-2024, tables B25004 and B25003, read from data.census.gov on November 4, 2026. Rates and margins worked out by Fidelity Residential.

How the figures were worked out

• Rental homes: homes rented and lived in, plus homes empty and for rent, plus homes rented but not yet moved into.
• Empty and for rent: homes standing empty and offered for rent when the survey was taken. Homes kept for seasonal use or held off the market are left out.
• Per 100: homes empty and for rent divided by all rental homes, times 100: the Census Bureau’s own definition. Every figure matches the rate the Bureau publishes in its housing profile table, DP04.
• Margins of error: combined from the Census Bureau’s own margins with its published formulas, so they are approximations.

What it can and cannot tell you

A state figure is a broad signal, with three limits:

• Five-year averages. These estimates pool 2020 to 2024. They describe that period, not this month’s market.
• A different survey, a different figure. The Census Bureau’s Housing Vacancy Survey publishes its own state rental vacancy rates each year from a smaller sample, and they can differ from these.
• Small states are less certain. In Alaska, Delaware, Montana and the District of Columbia the margin is about 0.6 to 0.8 in 100, so states a few tenths apart may not really differ. New Jersey and Massachusetts are a hundredth apart, a tie.

What the table shows

• The South runs high. Eight of the ten highest rates are in the Census Bureau’s South region: South Carolina, Mississippi, Louisiana, Texas, Florida, Alabama, North Carolina and the District of Columbia. Hawaii and Alaska are the other two. Across the Southern states on the list, about 7.0 in 100 rental homes stood empty and for rent.
• The Northeast and the West Coast run low. New Jersey, Massachusetts, New Hampshire and Connecticut are among the ten smallest, with California, Oregon, Washington and Idaho.
• Above and below the nation. Sixteen of the 41 are above the national figure of about 5.5 by more than their margins of error, and 17 are below it; New Mexico, Arizona, Iowa, Indiana, Utah, Montana, Minnesota and Delaware are within their margins of it.
• Three states hold about a third of the nation’s empty rentals: Texas (about 346,000), California (about 266,000) and Florida (about 238,000), of about 2.65 million in the country.

What it means for an investor

A DSCR loan compares the property’s monthly rent with its full monthly payment: principal, interest, property taxes, insurance and any association dues. An empty month brings in no rent, so the state figure is a reason to plan for gaps between tenants, not a measure of any one property.

Allow for empty months with your own vacancy allowance in the rental property calculator, and run the property’s coverage in our DSCR calculator. Our rent compared with home values table covers the same 41, and our page on investment property loans sets out the ways to finance a rental.

Frequently asked questions

Why does the table show 40 states and the District of Columbia?

Fidelity Residential is licensed in 40 states and the District of Columbia, and the table covers those. The national figure covers the whole country.

What is a rental vacancy rate?

The share of rental homes that stand empty and are offered for rent. The Census Bureau divides the homes empty and for rent by all rental homes, lived in or not.

Does a high rate make a state a poor place to own a rental?

Not on its own. Empty homes can reflect new building, homes between tenants or a surplus in one city. The street, the rent and the history of the property itself matter more than a state figure.

Does a vacant property affect a DSCR loan?

It can. With no lease, the appraiser’s market rent from the rent schedule is used, and a vacant property can lower how much you can borrow against the value. Tell your loan officer at the start whether the property is rented or vacant.

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