8.6% Rental Vacancy Rate in Mississippi, 7th Highest in the U.S.
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The rental vacancy rate—or the proportion of rental homes that are vacant in a given area—is an important economic indicator because it signals the balance between supply and demand for rental housing. High vacancy rates indicate an ample supply of rental properties, fostering competition among landlords and placing downward pressure on rent prices, which can lead to improved affordability for renters. Conversely, low vacancy rates indicate a shortage of rental units, driving up prices as demand outstrips supply. To determine the locations with the highest rental vacancy rates, researchers calculated the percentage of rental homes that were vacant in 2023, then ranked metros and states accordingly.