Rental Vacancy Rate by State

Source:
Residential Vacancies / Homeownership Stats

Release:
Rentail Vacancy Rate

Units:
Percent, Not Seasonally Adjusted

Frequency:
Annual

Available Through:
12/31/2020

Why Use:

Rental vacancy rate measures the rate at which rental homes are vacant in each US state. This is indicative of overall economic health as well as desire to rent in the state.

Suggested Treatment:

The data shows autocorrection, seasonality and a non-normal distribution. The data should be differenced and seasonally adjusted. While the Yeo Johnson transformation, provides the best normality, the Arcsin variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

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Rental Vacancy Rate by State

Auto Correction Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Autocorrectation Analysis:

Data shows autocorrectation indicating a need for differencing

The ACF indicates 1 order differencing is appropriate.

Further differencing is reccommended

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.32 p-value = 0.01 indicates that the data is not stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.91 with a p-value =0.01 indicating the data does not follow a normal distribution.

A skewness score of 1.00 indicates the data are moderately skewed.

Hartigan's dip test score of 0.06 with a p-value of 0.37 inidcates the data is unimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
1.72
Box-cox
NA
Log_b(x-a)
1.61
sqrt(x+a)
1.67
exp(x)
3.73
arcsinh(x)
1.61
Yeo-Johnson
1.45
OrderNorm
1.68

Data Notes:

The following states do not report for this feature: District of Columbia, Puerto Rico. Additionally, 2020 data is not currently available.

Citation:

U.S. Census Bureau, Rental Vacancy Rate, retrieved from FRED, Federal Reserve Bank of St. Louis; January 27, 2020.

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