Determining market vacancy

[Kari Morales]

How do you determine vacancy rates for a certain market?

I am looking at buying my first multifamily property, however I am having trouble finding what the average vacancy rate is for the area I am looking.

Any suggestions on what resources I should be using and where to find the most accurate data? I appreciate any guidance or suggestions. Thanks.

[Grant Thompson]

Kari,

The two methods I have used,

1. Census data, but it is not always reliable and current.

2. Talk to a property manager, they are the most plugged into the local market and can give better estimates on average vacancy rates.