A curious puzzle unfolds in the heart of our cities, where more and more people struggle to find a place to call home (sometimes even becoming homeless). Some houses sit empty while others desperately seek shelter.
Why do properties stand vacant even as the clamor for affordable homes intensifies?
The high ownership costs of homes could make them harder for many to afford. The demand for housing has caused rental prices to skyrocket. Economic shifts may also be causing more people to move away to better prospects, while some owners temporarily keep houses vacant as investment speculation.
What does the housing crisis look like in different cities- in terms of empty properties? Let’s take a look.
1. New Orleans
With 22.9% house vacancy, this Louisiana city wins the housing crisis competition. This is fuelled majorly by increased insurance premiums, property tax obligations, and construction expenses.
2. Shreveport
The commercial and industrial city of Shreveport, LA records a 16.0% housing vacancy. The rapid increase in housing costs is a major culprit.
3. Baton Rouge
A third city in Lousiana makes up the top 3 most vacant cities. Like other cities, the high insurance rate has contributed to Baton Rouge’s housing crisis. The housing vacancy stands at an unenviable 16.0%, according to Smart Asset.
4. St. George, Utah
Despite having a population growth of 18.5%, this booming town for outdoor enthusiasts still has 14.8% empty properties. The Spectrum notes that house rates doubled, while most salaried remained the same, leading to the crisis being witnessed. No one can afford to live there.
5. Cape Coral, Florida
Cape Floral witnessed an 18.4% property vacancy. The mass movement to other cities after a recent hurricane may be a major cause for this housing imbalance.
6. Enterprise, Nevada
This small city in the Las Vegas Valley of Nevada is experiencing over a 9% housing vacancy issue. This is due to the high inflation being experienced, as well as the skyrocketing house prices due to it’s proximity to the city that never sleeps.
7. New York City
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
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
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 of they could.
12. St. Petersburg
17.0% of the houses in St. Petersburg are vacant, a recent study shows. Like most locations, this is mainly because of the sharp rise in house prices, while people’s income remains unchanged.
13. West Palm Beach
West Palm Beach, Florida is also affected by the housing imbalance, with a 16.2% vacancy rate.
14. Hollywood
The cost of living in California is unattainable for many, particularly in Hollywood- where celebrities and status increase the cost. 15.9% of the houses in Hollywood are vacant. A 2020 report shows between 85,000-100,000 vacant houses in Hollywood. The increase in high-end houses that many can’t afford is one of the contributing factors.
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I’m a Language and Literary Studies (Honors) graduate with 11 years of experience in magazine and blog writing and content creation. I’m passionate about storytelling for change and believe in the power of words to make a difference. My writing is thought-provoking, accessible, and engaging, focusing on the Psychology of human behavior, complex social issues, personal experiences, and the latest trends. I’m a wife and a Mom of three.
