See what empty months really cost.
Every vacant day and every turnover eats into a rental's return. Enter your rent and how much time the unit sits empty to see the income you actually keep, the money you lose, and how fast it adds up.
The rental
Turnover cost covers cleaning, make-ready, paint, repairs, marketing and screening between tenants.
What this means
Income you keep at different vacancy rates
The vacancy scorecard
Effective income by vacancy rate
Same rent and turnover cost, tested against the vacancy rates investors most often use.
| Vacancy | Vacancy loss | Turnover cost | Effective gross income | Lost income | Effective rent /mo |
|---|
Vacancy, explained
Why Vacancy Math Matters
Each vacant day costs money. $1,500/month rent = $49/day. A 30-day vacancy = $1,500 lost. Plus turnover costs (cleaning, repairs, marketing). Often 5-15% of annual rent.
National Vacancy Averages
US rental vacancy ~6.5% (2024 average). Single-family rentals 4-7%. Multi-family 6-10%. Class A urban 8-12%. Vacation rentals 30-50%. Use realistic local numbers, not optimistic projections.
Reducing Vacancy
Quality screening reduces turnover. Competitive pricing (don't over-rent). Maintain property well. Renew leases proactively. Build tenant retention, keeping a tenant beats finding new one.
Including Turnover Costs
Real cost = lost rent + cleaning + paint touch-up + new tenant marketing + screening fees + appliance repairs. Add 2-4 weeks' rent for turnover costs on top of vacancy itself.
Common questions
What vacancy rate should I assume?
5-8% for stable rentals in typical markets. 10%+ for high-turnover areas. 0% is wishful thinking for any analysis.
Does this include turnover costs?
No, only lost rent. Add 1-2 months equivalent for cleaning, paint, repairs between tenants.
How do I reduce vacancy?
Quality tenant screening reduces evictions. Competitive pricing prevents over-renting (and rapid turnover). Renew leases early.
Is vacancy higher in winter?
Yes, most leases roll in summer. Winter vacancies last longer because fewer movers.
Should I lower rent to fill vacancy?
Sometimes. One month vacant at $1,500 = $1,500 lost. Dropping rent $50/month for 12 months = $600 loss. Lower rent often cheaper than extended vacancy.
Estimates for planning only. Actual vacancy depends on your market, season, pricing and tenant quality. Budget vacancy and turnover as real line items, not best-case guesses. Verify every figure before you invest.