# Vacancy

**Natural Vacancy Rate:** The average vacancy rate for a rental property market that would result if supply and demand were in balance. The level to which vacancy rates adjust over the long term. A benchmark by which current vacancy rates in the market are considered high or low
**Vacancy Factor:** An allowance or discount for estimated vacancies(unrented units) in a rental project. The vacancy rate is the ratio between the number of vacant units and the total number of units in a specified project or area.
**Vacancy Factor/Rate:** The total amount of available space compared to the total inventory of space and expressed as a percentage. This is calculated by multiplying the vacant space times 100 and then dividing it by the total inventory.