Vacancy Rate By Type, 2010
The “for rent, for sale, or rented/sold not yet occupied” vacancy rate is similar in definition to the vacancy rate used by the real estate industry. The percentage of units in the rented or sold but not yet occupied subcategory is small, a combined 0.6 percent in Arizona in 2010 (and 0.5 percent nationally). In contrast, 4.2 percent of the housing units in Arizona were for rent and 2.3 percent were for sale. In the United States, the comparable percentages were 3.1 and 1.4. Thus the “real estate” vacancy rate in Arizona was a full 2 percentage points higher than the national average, a reflection of the depth of the real estate crash and recession in Arizona.
Other than Greenlee County’s very high rate, associated with a slump in copper mining, the “for rent, for sale, or rented/sold not yet occupied” vacancy rate in 2010 ranged from 3.2 percent to 7.8 percent across Arizona’s counties. The two counties constituting the metro Phoenix area—Maricopa and Pinal—had the highest rates (other than Greenlee County).
A considerably higher proportion of Arizona’s housing units are held for seasonal, recreational, and occasional use than the U.S. average (6.5 versus 3.5 percent). The proportion of units vacant for other reasons was 2.8 percent in Arizona, the same as the national average.
The vacancy rate attributed to units held for seasonal, recreational, or occasional use ranges widely across Arizona, from less than 5 percent in Cochise, Graham, and Maricopa counties to more than 25 percent in La Paz and Navajo counties in 2010. Vacancies for other reasons varied from 2 percent to nearly 10 percent in 2010. Two of the highest rates were in Apache and Navajo counties and likely reflect the ceremonial use of traditional hogans.