“Unlocking the Mystery: Why These 14 US Cities Are Seeing a Surprising Surge in Vacant Homes”
7. New York City, New York
New York City has seen an 8.3% increase in vacancy rate despite the growing population. New York’s rent stabilization law is largely to blame, as more landlords decline to renovate their houses. The renovation is too expensive, and the low rent they’re supposed to fetch for them doesn’t improve the situation.
8. San Francisco, California
There’s a 12.7% vacancy rate in San Francisco, as recorded in a recent survey. Despite its declining population, San Francisco continues to experience a housing crisis. The house-buying process and approval in San Francisco is a complicated affair and a major contributing factor.
9. Pompano Beach, Florida
Pompano Beach has a 21.7% housing vacancy, a common occurrence in most Florida cities these days due to population fluctuations due to snowbirds.
10. Fort Lauderdale, Florida
One of many Florida cities to make the list. Florida’s vacant houses crisis extends to Fort Lauderdale, where 21.4% of the houses are vacant despite a huge population.
11. Clearwater, Florida
20.7% of the houses in Clearwater, Florida, are empty in a clear economic imbalance. The rising cost of houses is to blame, which has decreased demand for houses- even though people would love to buy one if they could.
