Rental Vacancies Rise to 7.6 Percent, Giving Renters a Little Leverage

The national rental vacancy rate rose to 7.6 percent in the third quarter, up from 7.3 percent in the spring and 7.1 percent a year earlier, the Census Bureau said October 28. The homeownership rate was 65.5 percent, which Census said is not statistically different from a year ago, and the homeowner vacancy rate held at 1.2 percent. More empty units can mean more room to negotiate on rent or move-in concessions at lease renewal, though vacancies vary widely by city.