The 10 Lowest-Vacancy Markets of the First Quarter

In Reis' first-quarter report, six of the metropolitan areas with the lowest vacancies are in California.

No vacancy sign

The West leads the way in Reis’ list of markets with the lowest vacancy rate in the first quarter, with six of the tightest markets in California and another in New Mexico. The East Coast’s only representatives are Hartford and New Haven, Conn., and Rochester, N.Y.

Here’s the list from Reis:

Rank Metro Market 1Q Vacancy Rate
1 Sacramento 2.3%
2 Orange County 2.4%
3 San Jose 2.4%
4 San Diego 2.5%
5 New Haven 2.5%
6 Oakland-East Bay 2.6%
7 Hartford 2.6%
8 Rochester 2.7%
9 Ventura County 2.7%
10 Albuquerque 2.7%

About the Author

Les Shaver

Les Shaver is a former deputy editor for the residential construction group. He has more than a decade's experience covering multifamily and single-family housing.

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