City of St Louis Property Vacancy Rate Over Four Times Higher Then National Rate

According to a report just released this morning by RealtyTrac, 6,809, of the 103,855 residential properties in the city of St Louis, are vacant.  This vacant property rate of 6.6 percent for the City of St Louis is over four times higher than the national rate of 1.6 percent.  As the table below shows, the vacant property rate for the St Louis MSA as a whole is 2.6 percent and St Louis County has the second highest vacancy rate, coming in a 2.6 percent.  St Charles County has the lowest vacancy rate at 0.4 percent.

“Abandoned ship” properties…

I’m applying the label of “abandoned ship properties” to those properties that are sinking, or seriously underwater with regard to equity, otherwise known as being in a negative-equity position, and are vacant as well.   In this category, are 1,390 properties in St Louis county or, nearly 15 percent (14.8%) of all of the vacant properties in the county.  For the MSA as a whole, 9.7% of all vacant properties are “abandoned shop” properties.

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