Hawaii Pre-Licensing National Practice Exam

An apartment project with 160 units has 8 vacancies. What is the vacancy rate?

1. 2%

2. 5%

3. 10%

4. 12%

The correct answer is: 5%

To calculate the vacancy rate, you start by determining the total number of units that are vacant relative to the total number of units in the apartment project. In this case, the apartment project has a total of 160 units and currently has 8 units that are vacant. The vacancy rate is calculated using the formula: Vacancy Rate = (Number of Vacant Units / Total Number of Units) x 100 Substituting the values from this problem into the formula gives: Vacancy Rate = (8 / 160) x 100 When you perform the division, you find that 8 divided by 160 equals 0.05. To convert this to a percentage, you multiply by 100, resulting in a vacancy rate of 5%. This calculation shows that the vacancy rate provides a measure of how many units are not rented compared to the total available units. A vacancy rate of 5% indicates a relatively healthy occupancy level in the apartment market, often suggesting stability, as the majority of units are occupied.