If you are an active real estate investor, then you most likely are aware of the new information that is being released by the US Census Bureau. Their 2010 Census Website is chock full of useful data regarding population growth and movement trends. But there are some other key data that is also highly important for those of us who want to know what’s going on in our local housing markets.
One of the interesting bits of information that I look for when a new Census report is released is the percentage of homes that currently (at the time the census was conducted) stand vacant. I’m not exactly sure how they were able to get this (did they count a home as vacant if nobody answered the door? 
) but it provides for an interesting comparison for different counties in a State.
Take Florida for example. I live in Leon County, Florida, and this is the worst housing market that I have experienced (by far) during my 21 years brokering real estate. The following graph was created from data found on the 2010 US Census Website and it shows some troubling figures.
Leon County was the fifth best county (out of 67) in the State, and our vacancy rate was at 10.6%. Unfortunately, the worst county in the State was right here in my region. Franklin County recorded 51% vacancy. Other local counties were nearer the center of all counties reported.
What would you do if you lived in a county that had 1 in every 2 homes vacant? 15% of Florida counties have 1 in 3 homes vacant, while overall the State’s vacancy rate is 17.5%. So why is any of this important to a real estate investor?
The fact is that much of the news about real estate has to be gleaned from regional and national market reports. Were I to just read Florida real estate reports, my understanding of vacancy rates would be grossly out of line, because Tallahassee’s rates are far better than the State average.
The same is true for much of what is reported about real estate. The old adage that “real estate is local,” is true for most of what a real estate investor needs to know, so make sure you gain as much local market knowledge as you can if you want to profit in real estate investing.
Related posts:
- Using Census Bureau Data for Real Estate Market Research
- Foreclosures, Census Data, and Tough Times for Real Estate Agents
- Real Estate Investors: Time Is Our Most Valuable Asset – Use the Lock Box!
- Information Is To Investors As Yin Is To Yang
- Where to Find Information on Abandoned Homes and Other Properties. Skiptracking and other Techniques.
Article Author: Joe Manausa, MBAJoe has written 15 articles for us.
Visit Joe's Website: http://www.manausa.com
Joe Manausa, MBA is a 20+ year veteran of real estate brokerage in the State of Florida and has been investing in real estate since 1992. He is a daily blogger with content that focuses on real estate analytics and investing in the residential market. Joe is a former US Army Ranger and a graduate of West Point, so he provides analysis with a goal of gaining a tactical advantage in real estate investment.
Joshua Dorkin
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Then Census Bureau is helpful to those who are involve with real estate like investors, they all should be updated with the census of different country reported on Census Website. Real estate investor should have more knowledge about marketing.
There’s nothing like some good old-fashioned common sense research. Great post!
Thanks MH. I like to know as much about my market as possible.
Thanks for the post. I’ll have to look up my specific area. Wow, a 51% vacancy rate in Franklin county! I can’t imagine what the neighborhoods looks like.
Franklin County has a good bit of the “beach” market, and it’s not the emerald green beaches that some North Florida areas have …