High rates of vacancy and hyper-vacancy have traumatic impacts on neighborhoods and cities. vacant homes reduce the value of neighboring properties and of entire neighborhoods, as the graph below.
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At the city level, Detroit had the highest vacancy rate, with 53,000 empty houses, nearly one in five. Nationally, close to one of every 63 residential properties that RealtyTrac analyzed are vacant.
According to 2017 census data, there are approximately 100,000 vacant homes in the city of Los Angeles-that’s nearly twice the number needed to house the some 58,936 individuals that are.
· The site found Gary, Indiana, had an extremely high percentage – nearly 20 percent – of vacant homes. hilton head island, South Carolina, and Flint, Michigan, also had a.
Detroit is perhaps the most famous example of a city tortured by vacancies: There are 33,000 vacant homes there — give or take a few thousand that have already been demolished.
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Vacant and abandoned properties have long plagued the industrial cities of America’s Rust Belt, but the spike in foreclosures following the recent recession has compounded problems for these areas and has caused vacancy rates to surge nationwide, especially in recently booming Sun Belt states such as Florida, Arizona, and Nevada.
Here are the 12 US markets with the most vacant homes. While this is a decrease from last year, some markets are running well over double the national average. We’ve gone over RealtyTrac’s data and found the 12 housing markets that have a vacancy rate of at least 3%. Nearly all of the markets are in the Midwest or the South, with Indiana, Ohio, and Michigan having two apiece.
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The site found Gary, Indiana, had an extremely high percentage – nearly 20 percent – of vacant homes. Hilton Head Island, South Carolina, and Flint, Michigan, also had a very high vacancy rate at nearly 17 and 16 percent, respectively. Here’s a look at 15 cities in the U.S. that have the most vacant homes, per 24/7 Wall St. Gary, Indiana:19.4%