Unoccupied homes in the U.S. are a growing issue, particularly in cities like Dayton, OH, where vacancy rates have surged. Economists analyzed data from the U.S. Census Bureau and found that Dayton topped the list with a 5% vacancy rate, an increase of over 4% from pre-pandemic levels. Despite high homeownership, many homes are unattractive to buyers. Prices rose significantly, deterring prospective homeowners. Interestingly, four of the top five metros with increased vacancy rates were located in Florida, indicating a regional trend in vacancy issues across the country.
"Dayton has seen growing inventory levels over the last year and a half as buyer demand has cooled across the U.S.," says Realtor.com senior economic research analyst Hannah Jones.
"This mismatch pushed vacancy rates higher, even as homeownership is relatively affordable and common in the metro," adds Jones.
From the end of 2019 to the end of 2024, home prices in Dayton shot up about $80,000, from $158,000 to $236,000, which might have deterred many house hunters and left more homes ownerless.
However, Realtor.com economists have now identified the top five metros that have seen the biggest spikes in the share of properties that have been abandoned by their owners.
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