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Rental vacancy rate hit new low

 Posted: 4:45 PM April 10, 2014

Southern Oregon Rental Owners Association members reported a 1.81 percent vacancy rate in March, the lowest figure in what has developed over the past year into a tight market in Jackson and Josephine counties.

The vacancy rate dipped under 3 percent last April and has only exceeded the 2.98 percent reported in February once during the past 12 months. The highest vacancy rate reported by the landlord association was 3.46 percent in November.

The March reading showed just 89 vacancies out of 4,905 reporting units. The previous low during the past year was in June, when the vacancy rate was 2.28 percent.

— Greg Stiles

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