As shown in Table 5, the vast majority of Bloom Township’s housing units are owner occupied. In the past decade, the number of owner occupied units has increased while the number of renter occupied units has remained unchanged.

 

Vacancy rates can also provide information about an area’s housing market. Vacancy rates must be high enough to provide choice for potential homeowners and renters. In Bloom Township, vacancy rates somewhat increased between 1990 and 2000 from 2.6 percent to 3.2 percent. A total vacancy rate of four percent is generally considered adequate to give residents sufficient housing options. A vacancy rate lower than four percent such as in Bloom Township can indicate a strong seller’s market due to high demand.