35% increase in vacant housing in Md. in last decade
A big jump in the number of empty homes for sale and rent helped push up the number of vacant housing in Maryland over the last decade by 35 percent, new Census figures show.
More than 222,000 homes were vacant during the count in April 2010, an increase of nearly 58,000 properties.
The nationwide increase in vacancy was even bigger than Maryland's -- 44 percent. Nevada's number of unoccupied units more than doubled, which underscores just how hard that state has been pummeled by the housing bust.
In addition to an increase in vacant homes for sale and for rent, Maryland saw growth in vacant vacation homes and a category that includes foreclosures not yet on the market. Here's the breakdown:
Vacant homes on the market for sale or rent both ballooned nearly 50 percent -- for-sale homes to almost 33,000 and for-rent to nearly 62,000. (Yes, 62,000. That's an eye-opener.)
Homes owned for seasonal, recreational or occasional use that were vacant at the time of the census count increased by 43 percent, to almost 56,000.
All other vacants -- including bank-owned homes that aren't on the market yet -- rose by 26 percent, to 61,000 units. This includes abandoned and effectively abandoned properties.
All told, nearly as many homes were vacant in April 2010 as the 234,000 housing units built during the last decade.
Compared with the state and nation, Baltimore's vacancy situation was almost stable, up 10 percent to about 47,000. Most of the increase came in homes for sale or rent, which together rose by 5,600. The category for off-the-market foreclosures, boarded-up homes and the like rose by 1,800 units, to 23,000.
If you're interested in more, check out this story about the new figures, contrasting the city's situation with fast-rising vacancies on the Eastern Shore.
How has vacancy affected you?