The rental vacancy rate increased 0.2 ppts to 7.1%, and the homeowner vacancy rate was unchanged at 1.1% in Q1 2025.

• The total number of housing units in the US is estimated at 147.81 million as of Q1 2025, up from 146.25 million a year ago.
• The Census Bureau estimates that 89.5% of those units are occupied and 10.5% are vacant.

• The homeownership rate fell to 65.1% in Q1 2025, down from an estimated 65.7% in Q4 2024 and the lowest since Q4 2019.