Vacancy Rate Calculator

Use this free Vacancy Rate calculator to make better property management decisions. Enter your values below to get instant results.

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How to Use This Calculator

1 Enter total number of units
2 Enter number of vacant units (or days vacant)
3 Click Calculate to see vacancy rate percentage
4 Compare to market averages (typically 5-8%)
5 Factor vacancy into all cash flow projections

Example Calculation

12-unit apartment building with 1 vacant unit

Inputs:

Total Units: 12
Vacant Units: 1

Result:

Vacancy Rate = 1 ÷ 12 = 8.3%

Important Considerations

• Seasonal markets (college towns, vacation areas) have cyclical vacancy
• New construction experiences higher initial vacancy during lease-up
• Include economic vacancy (unpaid rent) in total vacancy factor

Frequently Asked Questions

National average is around 6-7%. Strong markets see 3-5%, while weaker markets may hit 10-15%. Use local market data for accurate projections. Always budget at least 5% vacancy, even in hot markets.

High vacancy directly reduces NOI, which reduces property value. Example: 10% vacancy on a property with $100,000 gross income loses $10,000 NOI. At a 6% cap rate, that's $166,667 in lost value.

Yes, always. Even fully occupied properties will have vacancy during turnovers. Budget 5-8% vacancy in all projections. Lenders require it, and prudent investors never assume 100% occupancy.

Strategies include: competitive pricing, quick unit turns, proactive lease renewals, tenant retention programs, quality marketing with professional photos, responsive maintenance, and pre-marketing units before current tenant leaves.