Home Vacancy Rate for Rhode Island
RIHVAC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
-77.78%
Date Range
1/1/1986 - 1/1/2024
Summary
The Home Vacancy Rate for Rhode Island measures the percentage of unoccupied housing units in the state. This statistic is important for policymakers and real estate analysts to understand housing market dynamics and plan for future developments.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Home Vacancy Rate for Rhode Island tracks the share of residential properties in the state that are unoccupied. This provides insight into the supply and demand balance of the housing market, which is crucial for real estate investment, urban planning, and economic policy decisions.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
The home vacancy rate is used by government agencies, real estate firms, and economic researchers to assess housing market conditions and forecast future trends.
Key Facts
- Rhode Island's home vacancy rate was 8.5% as of the latest data.
- Vacancy rates tend to rise during economic downturns and decline in times of high housing demand.
- High vacancy can indicate overbuilding or lack of affordable housing in a region.
FAQs
Q: What does this economic trend measure?
A: The Home Vacancy Rate for Rhode Island measures the percentage of residential properties in the state that are unoccupied or not currently being used as permanent housing.
Q: Why is this trend relevant for users or analysts?
A: The home vacancy rate provides important insights into the supply and demand dynamics of the Rhode Island housing market, which is crucial information for real estate investors, policymakers, and economic researchers.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: Government agencies, urban planners, and real estate firms use the home vacancy rate to assess housing market conditions, identify areas of oversupply or underinvestment, and inform policy decisions related to housing development, zoning, and affordable housing initiatives.
Q: Are there update delays or limitations?
A: The home vacancy rate data is published on a regular schedule by the U.S. Census Bureau, but there may be some delay between the data collection period and the public release of the statistics.
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Citation
U.S. Federal Reserve, Home Vacancy Rate for Rhode Island (RIHVAC), retrieved from FRED.