RealtyTrac Reports onTop 5 Most Vacant U.S. Cities

MSA	ALL Residential Properties	Vacant Properties	Vacancy Rate
Flint, MI	154,137	11,605	7.5%
Detroit-Warren-Dearborn, MI	1,539,609	81,190	5.3%
Youngstown-Warren-Boardman, OH-PA	156,861	6,979	4.4%
Beaumont-Port Arthur, TX	124,939	4,695	3.8%
Atlantic City-Hammonton, NJ	112,765	4,191	3.7%

Top 5 U.S. Cities Running out of Rooms

MSA	ALL Residential Properties	Vacant Properties	Vacancy Rate
San Jose-Sunnyvale-Santa Clara, CA	443,387	858	0.2%
Fort Collins, CO	105,876	246	0.2%
Manchester-Nashua, NH	117,729	342	0.3%
Provo-Orem, UT	131,449	397	0.3%
Lancaster, PA	148,177	457	0.3%

1.       Out of nearly 85 million residential properties (1 to 4 units) nationwide, more than 1.3 million (1.6 percent) were vacant in February 2016, down from 1.5 million vacant (1.8 percent) in September 2015.

2.       Investment properties are more likely to be vacant (4.3 percent vacancy rate nationwide), but investment property vacancy rates a rock-bottom 3 percent in more than one-third of U.S. markets — good news for landlords but bad news for renters in those markets.

3.       Vacant “zombie” foreclosures were down 4 percent from a year ago nationwide, but continue to increase in a minority of markets, mostly those with a protracted foreclosure process or high numbers of blighted properties.

o   Metro areas with the biggest increase in zombie foreclosures from a year ago included Worcester, Massachusetts (up 163 percent), Providence, Rhode Island (up 148 percent), Boston (up 111 percent), St. Louis (up 108 percent), and Detroit (up 71 percent).

 For a complete copy of the company’s news release, please contact:

jennifer.vonpohlmann@realtytrac.com