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5. Richmond, Va.

12-Month Averages:
Rental vacancy rate: 15.1%
Homeowner vacancy rate: 2.4%

With a rental vacancy rate of 15.1 percent, Virginia's capital ranks fourth among all major U.S. cities for empty rentals over the past year, with the first quarter of 2012 showing a 19 percent rental vacancy rate. However, Richmond’s homeowner vacancy rate ranks only 27th among the country’s 75 largest metro areas, and stands just 0.2 percent higher than the average for large metro areas.

Phott: Bill Dickson | Flickr | Getty Images