Vacancy Rate By Type, Change, 2000 to 2010
The real estate boom and bust during the 2000s contributed to an increase in the “for rent, for sale, or rented/sold not yet occupied” vacancy rate between 2000 and 2010 in Arizona. The percentage of units for rent increased from 2.8 to 4.2 percent; the increase in the share for sale was from 1.3 to 2.3 percent. In contrast, the percentage rented or sold but not yet occupied was unchanged. Nationally, the increases were not as large, with the total “real estate” vacancy rate rising 1.2 percentage points, half of the increase in Arizona.
Despite the 2.4 percentage point increase in the “for rent, for sale, or rented/sold not yet occupied” vacancy rate between 2000 and 2010 in Arizona, the rate decreased in two counties and the increase was less than 1 percentage point in five counties. Other than a very large increase in Greenlee, Arizona’s least populous county, the largest rise in rate was in Maricopa, Arizona’s most populous county.
Arizona’s percentage of housing units held for seasonal, recreational, and occasional use was unchanged between 2000 and 2010; a small increase occurred nationally. The increase in the rate of other vacancies was the same in Arizona as the U.S. average.
The portion of the vacancy rate due to seasonal, recreational, or occasional use rose in some counties but fell others between 2000 and 2010. A big drop in Pinal County resulted from the increasing urbanization of that county, with most of its new residents of working age and living in their house year-round. The rate was little changed in the other two populous counties (Maricopa and Pima). The change in the rate in the “other” category of vacancies is difficult to assess given the differing reasons for the vacancies included in this category and changing definitions from one census to another.