Vacancy is one of the biggest drags on rental property returns. This calculator shows the true cost of empty units in Rhode Island — pre-filled with Rhode Island average rents ($2,178/mo) and vacancy rate (2.6%).
Avg Cap Rate
5.2%
Median Price
$487K
Property Tax
1%
Vacancy Rate
2.6%
Local Factors
Total Vacancy Cost
$4,218
$352/mo lost
What does this mean?
Under 3% vacancy is exceptional — nearly full occupancy year-round. This is common in supply-constrained markets or properties with strong tenant retention. Just make sure you're not under-pricing rents.
Vacancy loss is the income you don't collect when units sit empty between tenants. It's the gap between what a property could earn at full occupancy (Gross Potential Rent) and what it actually collects.
What vacancy rate should you use? Most lenders underwrite 5-8% for stabilized multifamily. Rhode Island averages around 2.6%. Your actual rate depends on local market conditions, property condition, and management quality.
Keep running the numbers
Vacancy eats into everything in Rhode Island. See the full impact on your returns.