Table 3.  Rental Vacancy Rates, by State:  1986 to 2007



                          1986     1987     1988     1989  1989\r      1990    1991



United States........     7.3      7.7      7.7      7.1      7.4      7.2      7.4



Alabama..............     5.0      5.0      6.8      6.0      6.9      8.1      7.2

Alaska...............    15.3     15.9     14.3     11.0     11.0      6.8      5.7

Arizona..............    13.1     12.7     11.8     10.2     10.5     10.7      9.6

Arkansas.............     7.4      7.8      8.5      6.4      8.0      7.9      8.6

California...........     4.9      5.4      6.2      5.8      5.9      6.0      6.2

Colorado.............    13.6     11.6     13.0     11.7     12.4     10.2      5.8

Connecticut..........     5.0      4.8      5.8      5.9      5.9      7.5      7.7

Delaware.............     4.9      5.5      6.9      5.6      6.7      6.0      8.0

District of Columbia.     3.5      4.8      5.2      5.1      5.1      7.7      8.8

Florida..............    11.0     11.0     10.5      9.1      9.5      9.0      9.1

Georgia..............     6.2      6.1      7.5      9.3     10.0      9.4      9.7

Hawaii...............     5.7      6.5      6.3      6.6      6.6      6.6      5.8

Idaho................     8.8      9.0      6.4      6.0      6.0      5.4      3.9

Illinois.............     6.9      5.9      6.9      7.0      7.2      6.1      6.5

Indiana..............     7.5      8.2      7.9      6.0      6.2      5.3      6.2

Iowa.................     9.5      8.0      8.1      8.5      8.5      7.8      7.0

Kansas...............    10.3      9.4     10.1      8.5      9.3      7.8      6.9

Kentucky.............     6.5      7.9      6.5      6.7      7.2      5.8      7.6

Louisiana............    12.1     15.6     13.6     12.4     13.2     13.1      9.5

Maine................     5.1      5.4      5.1      6.0      6.0      9.7     10.8

Maryland.............     5.3      6.9      5.0      5.5      5.5      5.2      6.7

Massachusetts........     3.8      3.6      4.4      5.0      5.0      6.9      8.3

Michigan.............     5.0      6.8      7.3      7.4      7.5      7.3      7.2

Minnesota............     4.9      4.9      5.5      5.8      5.8      6.5      6.6

Mississippi..........     9.1     10.7      9.8      9.6     10.5      8.7      7.8

Missouri.............     9.7      8.8      7.5      7.7      8.3      9.6     11.1

Montana..............     8.1     10.3      9.3      8.9      9.7      8.1      6.6

Nebraska.............     8.3      6.7      7.0      6.2      6.6      6.5      8.1

Nevada...............    11.8      9.5      9.3     10.9     10.9      8.4      8.5

New Hampshire........     4.9      7.7      6.7      7.7      7.7      9.7     11.0

New Jersey...........     4.0      3.9      5.1      4.6      4.6      5.9      7.7

New Mexico...........     9.3     10.7      8.8     11.1     12.7     13.7     13.2

New York.............     2.9      3.3      4.1      3.7      3.7      4.9      5.5

North Carolina.......     7.0      6.1      7.0      6.7      7.4      7.2      7.7

North Dakota.........     9.3      8.9      7.0      7.9      7.9      8.0      6.2

Ohio.................     6.3      6.5      6.4      5.8      5.9      5.5      5.4

Oklahoma.............    17.2     18.9     15.8     13.2     14.7     14.6      9.5

Oregon...............     7.0      6.1      6.0      4.0      4.2      3.3      5.1

Pennsylvania.........     5.4      5.7      6.0      5.9      6.0      7.2      7.1

Rhode Island.........     4.9      4.8      5.0      7.4      7.4      9.6      9.6

South Carolina.......     6.2      9.1     10.6      8.4      9.1      8.4     11.1

South Dakota.........     8.4      6.9      6.8      6.1      7.1      5.3      4.5

Tennessee............     6.0      7.6      7.2      8.0      9.1      9.5      8.5

Texas................    16.2     17.1     14.5     12.2     12.5      9.7      9.6

Utah.................    21.5     21.5     25.8     10.1     10.6     12.6     14.9

Vermont..............     4.7      4.8      2.6      2.9      2.9      6.2      6.5

Virginia.............     6.0      7.0      7.3      6.2      6.6      5.8     10.3

Washington...........     4.2      4.7      4.2      5.4      5.5      3.3      4.1

West Virginia........     9.1      8.8     10.6     10.7     11.5      8.2      6.3

Wisconsin............     4.7      4.7      4.2      3.9      4.1      3.3      4.6

Wyoming..............    15.0     16.8     12.0     10.5     12.1      7.9      7.7



Table 3.  Rental Vacancy Rates, by State:  1986 to 2007 - Continued



                         1992     1993   1993\r     1994     1995     1996     1997



United States........     7.4      7.4      7.3      7.4      7.6      7.8      7.7



Alabama..............     6.4      6.3      6.8      7.2      8.5      8.7      7.3

Alaska...............     5.8      5.4      4.9      4.5      6.0      5.9      7.4

Arizona..............     9.5      7.6      7.4      8.8      7.2     10.2      9.1

Arkansas.............     6.9      7.1      7.2      6.8      7.4      7.2      8.1

California...........     7.5      8.2      8.2      7.9      8.5      7.2      6.5

Colorado.............     5.8      4.7      4.9      5.3      4.3      6.1      3.7

Connecticut..........     8.3     11.2     11.1     11.4     15.2     10.7      7.7

Delaware.............     9.1      8.3      8.4      8.3     10.6      7.7      8.5

District of Columbia.     9.7      8.5      7.7     10.3     12.9     13.4     13.2

Florida..............     8.7      8.2      8.3      8.0      7.8      9.0      9.5

Georgia..............     8.9      7.3      7.3      9.1     11.3     11.6     11.2

Hawaii...............     5.8      7.1      6.8      7.4      6.3      6.0      7.1

Idaho................     2.7      4.4      3.7      3.6      4.5      5.8      6.8

Illinois.............     7.0      6.2      6.3      6.8      7.4      7.9      8.5

Indiana..............     7.0      7.3      7.2      5.0      5.2      6.9      7.2

Iowa.................     3.9      4.3      4.3      4.9      5.3      5.5      6.4

Kansas...............     5.9      6.1      6.2      9.0      6.2      9.9      9.4

Kentucky.............     8.7      8.6      8.5      7.6      5.1      5.8      9.4

Louisiana............     7.8      7.1      7.2      9.4      9.6      7.8      8.4

Maine................    10.7     10.4     10.4     11.0      8.6      7.2      6.1

Maryland.............     7.2      8.8      8.7      8.1      5.7      6.7      8.0

Massachusetts........     8.8      7.9      7.8      7.1      6.2      5.8      5.2

Michigan.............     7.7      8.0      7.9      8.9      8.8     10.2      8.9

Minnesota............     5.4      5.5      4.9      5.2      6.7      5.5      4.7

Mississippi..........     7.4      8.1      8.0      7.9     13.2     13.2     11.5

Missouri.............     9.9      9.1      9.4     10.1     10.0      8.6      8.9

Montana..............     4.2      3.3      3.4      3.5      3.6      5.1      5.0

Nebraska.............     7.5      5.9      5.9      5.5      5.5      6.6      6.3

Nevada...............     9.0      9.5      9.1      6.1      6.8      7.1      7.5

New Hampshire........     9.5      6.6      6.7      7.7      5.4      5.6      6.2

New Jersey...........     6.9      8.3      8.2      7.1      6.6      7.7      5.5

New Mexico...........     7.8      3.7      3.5      5.1      4.8      7.1      9.5

New York.............     5.8      5.6      5.5      5.9      6.3      6.9      6.2

North Carolina.......     7.0      6.0      5.6      6.1      8.2      8.0      9.7

North Dakota.........     5.1      5.0      4.8      5.1      6.7      8.5      8.3

Ohio.................     6.2      7.0      7.1      6.8      7.4      8.1      8.9

Oklahoma.............     9.7     11.6     11.5      8.9     10.3     11.0     11.4

Oregon...............     4.9      5.5      5.6      3.9      4.0      5.9      5.4

Pennsylvania.........     7.0      7.3      7.5      8.0      8.0      8.7     10.1

Rhode Island.........     8.7      8.6      8.6      8.0      7.1      7.2      6.0

South Carolina.......    10.0     11.2     10.6     12.3      9.3     14.1     15.1

South Dakota.........     3.1      4.4      4.3      5.3      5.9      9.9     12.6

Tennessee............     6.0      4.7      4.6      4.6      5.4      5.4      7.2

Texas................     8.9      9.1      8.9      7.9      8.2      8.0      8.4

Utah.................    14.6     13.1     15.7      7.1     12.3     13.4     14.4

Vermont..............     5.3      5.1      5.2     10.3      5.3      4.2      3.7

Virginia.............     8.2      7.5      7.7      8.9      7.6      7.4      6.3

Washington...........     4.1      5.6      5.0      5.9      6.0      5.6      4.4

West Virginia........     5.4      5.6      6.0      8.5      7.6      5.8      7.5

Wisconsin............     4.9      4.6      4.0      4.6      5.7      5.5      4.9

Wyoming..............     6.7      5.0      5.5      6.7      5.0      6.4      8.2



Table 3.  Rental Vacancy Rates, by State:  1986 to 2007 - Continued



                         1998     1999     2000     2001      2002  2002\r      2003



United States........     7.9      8.1      8.0      8.4      9.0      8.9       9.8



Alabama..............     9.7     13.5     14.4     14.2     13.2     13.4     14.0

Alaska...............     5.8      6.5      6.9      5.2      5.7      5.9      8.6

Arizona..............     9.3     10.6     10.7     10.9     12.3     11.2     12.0

Arkansas.............    13.1     11.4     11.4     13.4     10.8     10.7     12.7

California...........     6.0      5.0      4.5      4.2      4.9      5.0      5.4

Colorado.............     5.3      6.8      5.4      9.1     11.0     10.5     12.2

Connecticut..........     9.2      7.3      8.6      8.0      4.7      4.6      9.1

Delaware.............    11.2      9.9     10.6     10.5      8.8      8.7     10.5

District of Columbia.    12.6     12.0     11.7     12.5     11.6     10.8     10.7

Florida..............     8.8     10.3     10.8     11.5     10.5     10.2     11.5

Georgia..............    12.0     10.3      9.7     12.3     14.5     14.2     14.7

Hawaii...............     6.9      7.6      5.3      8.2      7.3      7.3      8.9

Idaho................     5.5      6.1      6.7      6.0      6.2      6.4      9.7

Illinois.............     7.4      6.9      7.8      9.0     11.0     10.9     12.0

Indiana..............     8.1     11.5     10.6     10.3     11.7     12.1     12.8

Iowa.................     6.0      7.3      6.9      8.2      8.5      8.6      8.3

Kansas...............     8.4      7.7      9.2     10.1     11.6     11.6     10.5

Kentucky.............     8.3     10.1      9.5     10.1      9.4      9.6      9.9

Louisiana............     9.7     12.8     11.2      8.8      8.2      8.3      8.8

Maine................     6.2      7.4      6.0      4.9      5.7      5.6      6.1

Maryland.............     5.7      5.5      4.6      7.6      7.4      7.5      9.4

Massachusetts........     5.7      4.7      3.5      3.3      4.9      4.9      5.2

Michigan.............     8.3     10.2      9.6     10.9     10.5     10.5     10.5

Minnesota............     6.2      5.2      5.2      5.5      6.7      6.6      7.9

Mississippi..........     9.9     11.2     11.6     13.5     15.2     15.4     15.8

Missouri.............     9.2      9.9     15.0     17.4      9.3      9.2      9.5

Montana..............     5.8      5.4      7.5      6.6      6.9      7.0      8.5

Nebraska.............     7.3      9.9      7.4      9.3     10.2     10.2     10.0

Nevada...............     9.3      9.7     11.6     12.0     14.4     13.6     11.6

New Hampshire........     3.9      4.4      3.2      3.3      3.4      3.4      6.0

New Jersey...........     4.5      3.9      4.3      4.3      5.0      4.8      6.3

New Mexico...........    10.2     12.5     13.2     12.7     11.5     10.7     11.4

New York.............     6.6      6.1      5.5      5.3      5.8      5.8      5.6

North Carolina.......    11.5     10.8     11.2     12.4     15.3     13.6     15.0

North Dakota.........     9.9     10.6     11.7      9.9     11.5     11.2      9.8

Ohio.................     8.7      9.8      9.0      9.6     11.1     11.0     11.8

Oklahoma.............    12.9     14.0     15.2     12.0     13.9     14.0     12.8

Oregon...............     7.7      7.6      6.8      6.8      8.5      8.4      9.9

Pennsylvania.........     9.1     10.3      8.3      7.3      7.9      7.9     10.0

Rhode Island.........     5.3      5.1      5.3      3.9      4.2      4.0      5.2

South Carolina.......    16.7     16.4     15.5     17.3     15.3     15.7     16.2

South Dakota.........     9.4     10.0      7.7      8.2      9.8      9.5     12.8

Tennessee............     7.4      8.2      7.1      9.5     10.4     10.4      8.3

Texas................     8.6      9.3     10.8     10.3     12.5     12.6     14.1

Utah.................    14.6     10.1      7.6      7.2      6.6      6.5      8.2

Vermont..............     5.7      3.6      3.8      6.1      3.8      3.8      4.0

Virginia.............     8.4      9.0      7.7      7.9      8.2      8.0      9.0

Washington...........     6.2      5.1      4.9      7.8      7.9      7.6     10.1

West Virginia........     9.5      9.4     10.0     11.0     12.1     11.9     11.9

Wisconsin............     6.4      6.0      4.7      4.8      6.4      6.5      8.9

Wyoming..............     9.8     10.3      8.1      7.8      7.4      7.5      9.4



Table 3.  Rental Vacancy Rates, by State:  1986 to 2007 - Continued



                          2004     2005     2006     2007



United States........    10.2      9.8       9.7      9.7



Alabama..............    14.8      13.2     13.4     15.3

Alaska...............     7.0       7.9      8.5      7.7

Arizona..............    11.3      11.6      9.3      9.6

Arkansas.............    13.5      13.7     13.5     11.8

California...........     5.4       6.0      5.8      6.1

Colorado.............    12.7      13.5     10.5     10.1

Connecticut..........     8.4       8.3      7.9      8.0

Delaware.............    11.0      11.3     12.2     15.0

District of Columbia.    11.3       7.7      7.8      9.6

Florida..............    11.7      10.1     10.7     13.7

Georgia..............    16.3      14.6     13.0     13.1

Hawaii...............     7.7       5.1      5.5      6.3

Idaho................     9.8       7.0      7.4      8.1

Illinois.............    14.8      13.4     12.6     10.4

Indiana..............    12.9      14.2     14.0     13.3

Iowa.................     9.4      13.1     13.5     10.9

Kansas...............    13.6      12.8     11.3     11.1

Kentucky.............    11.3      11.2      9.8     10.4

Louisiana............     7.3       8.8      7.9      8.8

Maine................     6.8       6.8      6.8      6.4

Maryland.............     8.2       8.8     10.2     11.4

Massachusetts........     6.5       5.7      6.2      5.7

Michigan.............    13.0      13.1     18.1     17.0

Minnesota............     9.1      10.5      8.9      7.6

Mississippi..........    12.5      13.2     12.9      9.4

Missouri.............    10.3      13.8     11.3     11.7

Montana..............     9.7      10.3      7.9      6.0

Nebraska.............     9.5      10.3     10.2     10.2

Nevada...............    10.6       8.4      9.1      9.8

New Hampshire........     4.8       5.1      6.0      5.7

New Jersey...........     6.2       6.2      7.3      6.8

New Mexico...........     8.1       7.7      8.1      9.3

New York.............     6.1       5.1      5.8      6.1

North Carolina.......    13.3      13.8     11.7     12.4

North Dakota.........    10.4       8.5      8.9      7.6

Ohio.................    13.0      13.4     12.3     11.9

Oklahoma.............    13.9      12.6     11.2      9.8

Oregon...............    11.8       8.3      7.5      5.9

Pennsylvania.........    11.7      10.0     10.6     10.0

Rhode Island.........     6.1       7.7      7.5      9.5

South Carolina.......    14.7      10.0     10.6     10.6

South Dakota.........    11.2       8.8      8.3      8.9

Tennessee............    10.0      10.3     10.5      9.2

Texas................    13.9      13.6     13.5     13.8

Utah.................     8.9       7.0      5.7      5.5

Vermont..............     4.7       4.4      3.6      4.9

Virginia.............    11.4       7.8      8.3      9.7

Washington...........     9.6       6.8      6.3      4.5

West Virginia........    10.0      11.9     10.8      9.6

Wisconsin............     9.1       9.0      8.2      7.9

Wyoming..............     5.6       6.0      4.6      5.4



\r Revised.