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Vacancy Rate illustration

Real Estate · Income

Vacancy Rate

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Use vacancy rate to estimate income drag before stabilized NOI and break-even analysis.

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Interactive workbench

Occupancy check

Vacant UnitsTotal Units

Four vacant units out of forty total units equals 10% vacancy.

Step 1 of 3

Variables and units

  • Vacant Units

    Number of vacant units or equivalent vacant spaces.

    count

  • Total Units

    Total rentable units or spaces.

    count

Common mistakes

  • Mixing units and square footage in the same calculation.
  • Ignoring economic vacancy when rent is unpaid.

Step-by-step example

Occupancy check

  1. 1. Start with the example inputs

    • Vacant Units4
    • Total Units40

  2. 2. Apply the formula

    Vacant UnitsTotal Units

  3. 3. Run the numbers

    10%

    Four vacant units out of forty total units equals 10% vacancy.

What this result means

A vacancy rate of 10% is the share of units sitting empty or uncollected. Compare it against your submarket's norm: above it means lost income to chase down (pricing, condition, management); near zero can actually mean rents are set below market.