| | Rank | Market | Vacancy Rate | | ||
| |------|--------|--------------| | ||
| | 1 | LA, Baton Rouge | 2.2% | | ||
| | 2 | KS, Lawrence | 2.4% | | ||
| | 2 | NE, Lincoln | 2.4% | | ||
| | 4 | CA, San Luis Obispo | 2.5% | | ||
| | 4 | KS, Topeka | 2.5% | | ||
| | 6 | NE, Omaha | 2.8% | | ||
| | 7 | LA, Lafayette | 2.7% | | ||
| | 8 | FL, Naples | 3.8% | | ||
| | 9 | BC, Vancouver | 3.9% | | ||
| | 9 | MN, Minneapolis | 3.9% | | ||
| | 11 | OH, Cleveland | 4.1% | | ||
| | 12 | CA, Fresno | 4.2% | | ||
| | 13 | CA, Santa Barbara | 4.3% | | ||
| | 13 | ON, Toronto | 4.3% | | ||
| | 15 | WI, Madison | 4.4% | | ||
| | 16 | AB, Calgary | 4.5% | | ||
| | 17 | MO, Saint Louis | 4.7% | | ||
| | 18 | MI, Detroit | 4.9% | | ||
| | 19 | NJ, Vineland | 5.4% | | ||
| | 20 | CA, Ventura | 5.6% | | ||
| | 20 | DC, Washington | 5.6% | | ||
| | 22 | SC, Greenville | 5.7% | | ||
| | 23 | NJ, Northern New Jersey | 5.8% | | ||
| | 23 | NY, Long Island | 5.8% | | ||
| | 23 | OH, Cincinnati | 5.8% | | ||
| | 26 | IL, Chicago | 5.9% | | ||
| | 26 | NJ, Atlantic City | 5.9% | | ||
| | 26 | PA, Pittsburgh | 5.9% | | ||
| | 29 | MO, Kansas City | 6.2% | | ||
| | 29 | TN, Nashville | 6.2% | | ||
| | 31 | FL, Miami | 6.3% | | ||
| | 32 | CA, Los Angeles | 6.5% | | ||
| | 32 | CA, Orange County | 6.5% | | ||
| | 34 | PA, Harrisburg | 6.8% | | ||
| | 35 | NC, Raleigh | 6.9% | | ||
| | 36 | FL, Tampa | 7.2% | | ||
| | 36 | TX, Houston | 7.2% | | ||
| | 38 | OH, Columbus | 7.3% | | ||
| | 39 | NC, Durham | 7.7% | | ||
| | 40 | NY, New York | 7.9% | | ||
| | 41 | PA, Lehigh Valley | 8.0% | | ||
| | 42 | FL, Orlando | 8.2% | | ||
| | 42 | NJ, Trenton | 8.2% | | ||
| | 44 | FL, Fort Myers | 8.4% | | ||
| | 44 | MA, Boston | 8.4% | | ||
| | 46 | CO, Denver | 8.5% | | ||
| | 47 | CA, Inland Empire | 8.6% | | ||
| | 48 | GA, Atlanta | 8.7% | | ||
| | 49 | WA, Seattle | 8.9% | | ||
| | 50 | CA, East Bay | 9.0% | | ||
| | 50 | IN, Indianapolis | 9.0% | | ||
| | 52 | ID, Boise | 9.1% | | ||
| | 52 | TX, Dallas-Fort Worth | 9.1% | | ||
| | 54 | MD, Baltimore | 9.3% | | ||
| | 55 | CA, San Diego | 9.4% | | ||
| | 55 | PA, Philadelphia | 9.4% | | ||
| | 57 | NC, Charlotte | 10.1% | | ||
| | 58 | CA, Bakersfield | 10.6% | | ||
| | 59 | SC, Spartanburg | 10.7% | | ||
| | 60 | CA, Stockton | 11.1% | | ||
| | 60 | NV, Reno | 11.1% | | ||
| | 62 | NV, Las Vegas | 11.4% | | ||
| | 63 | AZ, Phoenix | 12.4% | | ||
| | 64 | GA, Savannah | 12.5% | | ||
| | 65 | CA, San Francisco | 13.1% | | ||
| | 66 | TX, Austin | 13.3% | | ||
| | 67 | SC, Charleston | 15.4% |
*Source: Lee & Associates Q3 2025 North America Market Report
