vacancy rate


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Vacancy Rate

The number of units in a building without renters, expressed as a percentage of all units. For example, an apartment building with 100 units and 40 resident families has a 60% vacancy rate. It is the opposite of the occupancy rate.

vacancy rate

the number of available jobs (‘officially’ notified to local JOB CENTRES) which remain unfilled as a percentage of the total LABOUR FORCE.

vacancy rate

the number of available jobs (‘officially’ notified to local JOB CENTRES) that remain unfilled as a percentage of the available LABOUR FORCE. In practice, not all available jobs are notified to the authorities so the actual vacancy rate is greater than the officially recorded one.

The vacancy rate can be looked at alongside the UNEMPLOYMENT RATE in estimating whether or not the economy is at, or approaching, FULL EMPLOYMENT.

vacancy rate

The ratio of vacancies to total available rentals,over a particular period of time.There are three primary methods of calculating the vacancy rate: by number of units, square footage, or dollars of rental income. Beyond that, the calculations can be for a moment in time—a particular month—or for experience over the course of a year.Economic vacancy,which is the dollar value of vacancies rather than the number of units or square footage of floor space, is the most accurate indicator of the vacancy rate.When reviewing pro forma projections or past financial records, one must ascertain which method was used to calculate vacancies, however, because each method will result in a different rate unless all units are the same size and rent for exactly the same amount. See Example at occupancy rates for an explanation of the various calculations.
References in periodicals archive ?
Jones Lang LaSalle announced that despite slower leasing volume over the summer, vacancy rates have fallen in Manhattan in all office building classes and every submarket in the third quarter of 2011.
Although that pain was reflected in the behavior of the physical vacancy rate, the economic vacancy rate offers a truer measure of the impact of the "housing boom" on the apartment industry.
Over 2007, Phoenix's office and industrial vacancy rate rose to 15.
That will bring the vacancy rate down to about 14 percent at the Palmdale station -- 22 vacancies out of a force of 160.
Over-supply, they contended, would push office vacancy rates in Tokyo into the double figures.
CMHC expects that the decline in the local vacancy rate was due to factors such as the employment generated by the new charity casino, and itinerant construction workers hired to work on any number of high profile industrial, commercial and institutional projects, ongoing in Thunder Bay presently," Philp says.
The vacancy rate for standard industrial space dropped to 14.
1 percent from the overall vacancy rate in the fourth quarter of 2010.
In the second quarter, the apartment and warehouse vacancy rates for the 54 markets that PPR surveyed were flat at 5.
Vacancy rates in social care are "about twice as high of those for the totality of all private and public sector business activity in England".
NEW YORK, March 28 /PRNewswire/ -- Vacancy rates in several major markets are expected to decline over the next three years, according to information released today by the international real estate services firm Cushman & Wakefield, Inc.