Finance category
Mortgage, loan, investing, tax, and money calculators.
Occupancy Rate Calculator
Calculate physical occupancy rate for a single rental or full portfolio, either from unit-months of vacancy or directly from a vacancy rate.
Occupancy rate
93.75%
Vacancy rate
6.25%
Occupied unit-months
135
of 144 total
Rent lost to vacancy
$14,850
About occupancy rate
Physical occupancy = occupied unit-months ÷ total unit-months. Economic occupancy adjusts for concessions and delinquency. Most stabilized US rentals hover between 92% and 96% physical occupancy.
How to Use
- Pick the mode that matches your data: unit-months (for portfolios) or a direct vacancy rate.
- For unit-months: enter units, months measured, and total unit-months vacant in that window.
- For vacancy rate: enter the vacancy percentage to flip it into occupancy.
- Review the resulting occupancy rate against stabilized benchmarks (92–96% is typical).
- Plug the occupancy rate into cash flow and cap rate analysis for realistic income assumptions.
Frequently Asked Questions
What is a good occupancy rate?
Stabilized single-family and small multifamily rentals in strong markets run 92–96% physical occupancy. Workforce housing and higher-turn markets typically run 88–92%. Under 85% suggests pricing or management issues.
Is occupancy the same as vacancy?
They're complements: occupancy rate + vacancy rate = 100%. Both are usually reported as percentages. Lenders and operators often prefer occupancy for marketing and vacancy for underwriting.
What's a unit-month?
A unit-month is one unit available for rent for one month. A 10-unit building over 12 months has 120 unit-months of capacity. If three units were each vacant for two months, that's 6 vacant unit-months.
How does economic occupancy differ?
Economic occupancy adjusts for concessions, loss-to-lease, and delinquency. A building can be 100% physically occupied while collecting 95% of market rent because of concessions. Economic occupancy is the more honest metric for cash flow.
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