In this article, we will be taking a look at the 5 US cities with the lowest rental vacancy rates. If you are interested in reading the detailed analysis of the real estate market, head straight to the 20 US Cities with the Lowest Rental Vacancy Rates.
5. Sacramento-Roseville-Arden Arcade
Rental Vacancy Rate: 2.5
Ranking fifth on our list of the 20 US cities with the lowest rental vacancy rates, Sacremento is the principal city in the Greater Sacremento metropolitan area. One of the fastest-growing urban regions, it consists of Sacramento, Roseville, and Arden Arcade. Sacramento, the largest metropolitan city, houses over 5 million people and continues attracting migrants with its rich gold market. Sacramento, Roseville, and Arden Arcade have a low rental vacancy rate of 2.5.
4. Fresno
Rental Vacancy Rate: 2.4
The largest city in the Central Valley region of California, Fresno is a central city in the San Joaquin Valley. The city of Fresno and the Fresno county as a whole is a major economic hub due to its Central Pacific Railroad as well as the large-scale agricultural production that takes place in the region. With a population of over 5 million people, Fresno is the fifth most populous city in California and has a low rental vacancy rate of 2.4.
3. North Port-Bradenton-Sarasota
Rental Vacancy Rate: 2.3
Ranking third on our list of the 20 US cities with the lowest rental vacancy rates is the Sarasota metropolitan area. The principal cities in this area are North Port, Bradenton, and Sarasota, and have a combined population of over 8 million. With a consistently growing population and a mix of residential, industrial, and commercial areas, rental vacancy rates are quite low. The rental vacancy rate in North Port, Bradenton, and Sarasota is 2.3.
2. Omaha-Council Bluffs
Rental Vacancy Rate: 2.3
Second on our list of the 20 US cities with the lowest rental vacancy rates is Omaha and Council Bluffs, also known as the Omaha metropolitan area. The principal city of the region is Omaha, the most populous and the largest in area. These cities have a low cost of living in terms of housing, transportation, and utilities, therefore a large population is inclined to live here resulting in a low rental vacancy rate. In Omaha and Council Bluffs, the rental vacancy rate is at 2.3.
1. Bridgeport-Stamford-Norwalk
Rental Vacancy Rate: 1.6
Ranking number one on our list of the 20 US cities with the lowest rental vacancy rates is the cities of the Greater Bridgeport metropolitan area. Bridgeport, Stamford, and Norwalk are cities that make up the Greater Bridgeport region in the state of Connecticut. Being a financial hub and home to several Fortune 500 companies and industries, these cities attract a large population resulting in the unavailability of housing. Bridgeport, Stamford, and Norwalk have a low rental vacancy rate of 1.6.
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