Occupancy Rate
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Occupancy Rate
Description: compared to the total available for rent. The opposite of this term is the vacancy rate.
For example, if 70 units are rented in a 100 unit apartment building, the occupancy rate is 70%.
Occupancy rate can also be calculated based off square footage, or the dollar value of rentals.
For example, if a building has 10,000 square feet of total space, and 9,000 square feet are rented, it has an occupancy rate of 90%.
Another example: if a building has a total possible monthly rent income of $5,000, and the current income is $4,000 per month, it has an occupancy rate of 80%.
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