Rental Vacancy Rate for Maine
MERVAC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.90
Year-over-Year Change
-45.28%
Date Range
1/1/1986 - 1/1/2024
Summary
The Rental Vacancy Rate for Maine measures the percentage of rental housing units that are vacant and available for rent. This metric provides insight into the supply and demand dynamics of the rental housing market in Maine.
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 Rental Vacancy Rate for Maine is a key indicator of the health and stability of the state's rental housing market. It reflects the balance between the number of available rental units and the demand from tenants, which can inform decisions by policymakers, real estate investors, and households.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey/Housing Vacancy Survey.
Historical Context
Policymakers and market analysts use the Rental Vacancy Rate to assess housing affordability and make informed decisions about housing and urban development policies.
Key Facts
- Maine's Rental Vacancy Rate was 6.5% in 2021.
- The national Rental Vacancy Rate was 5.8% in 2021.
- Rental vacancy rates have declined in Maine since the Great Recession.
FAQs
Q: What does the Rental Vacancy Rate for Maine measure?
A: The Rental Vacancy Rate for Maine measures the percentage of rental housing units in the state that are vacant and available for rent.
Q: Why is the Rental Vacancy Rate relevant for users or analysts?
A: The Rental Vacancy Rate provides insight into the supply and demand dynamics of the rental housing market in Maine, which is important for policymakers, real estate investors, and households.
Q: How is the Rental Vacancy Rate data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey/Housing Vacancy Survey.
Q: How is the Rental Vacancy Rate used in economic policy?
A: Policymakers and market analysts use the Rental Vacancy Rate to assess housing affordability and make informed decisions about housing and urban development policies.
Q: Are there any update delays or limitations with the Rental Vacancy Rate data?
A: The Rental Vacancy Rate data is released quarterly by the U.S. Census Bureau, and there may be some delays in the most recent data being available.
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Citation
U.S. Federal Reserve, Rental Vacancy Rate for Maine (MERVAC), retrieved from FRED.