America's Housing Problem Is Not Just Supply | Opinion
Summary
The U.S. rental vacancy rate was 7.6% in the third quarter of 2026, while New York City’s rate was 1.4%. Michael P. Feldman argues that stronger property management could help return vacant units to use, address maintenance problems, and improve service for residents.Key Facts
- The Federal Reserve Bank of St. Louis reported a national rental vacancy rate of 7.6% in the third quarter of 2026.
- The New York City Department of Investigation reported that the average NYCHA vacancy lasts about one year.
- NYCHA apartment turnover takes four to six months, depending on the development.
- New York City’s rental vacancy rate was 1.4%, the lowest in half a century.
- Feldman says some units remain vacant because of long turnaround times or deferred maintenance.
- Feldman argues that property management companies need more resources and stronger service standards.
- He says technology can help operators manage properties and track maintenance but cannot replace standards.
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