Vacancy Rate Calculator

What is Vacancy Rate?

Vacancy rate measures the proportion of time a rental property sits empty. At the property level, it is calculated from actual vacant days divided by total available days. Vacancy reduces effective gross income and is a critical assumption in any real estate pro forma: a 5% vacancy allowance on $60,000 of gross rent reduces effective income by $3,000 before any expenses. The US national average residential vacancy rate runs 5–8%, though individual markets and property types vary widely. Commercial properties, short-term rentals, and single-family homes in tight markets may see vacancy near 0–2%, while low-demand markets or mismanaged properties can exceed 15–20%.