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For five years up until 2022, the housing vacancy rate in the largest U.S. cities fell from 9.3% to 7.3%. During that same period, the median sale price of a home in the U.S. jumped from $322,425 to $457,475, according to the Federal Reserve Bank of St. Louis. Vacancy rates may indicate an inefficient use […] The post Cities Where Housing Vacancy Rates Are Highest – 2023 Study appeared first on SmartReads by SmartAsset.

Key Findings The largest U.S. cities are good for renters. San Francisco, New York, San Jose, Seattle and Los Angeles are all in the top 10 of this study, and are all among the most populous cities in the country. Furthermore, the national price-to-rent ratio is 18.27, meaning that the market is still generally favorable to renters. Medium-sized cities like Memphis, El Paso and Baltimore, on the other hand, are better for buyers. Renter-friendly cities populate California, while the Midwest is better for buyers . Of the 10 cities in our study where buying is more favorable than renting, five...