Real Estate Math
A Huntington, WV building has 8,000 sq ft of rentable space. Currently 7,200 sq ft is leased. What is the vacancy rate?
A8%
B10%✓ Correct
C12%
D15%
Explanation
Vacancy = 8,000 - 7,200 = 800 sq ft. Vacancy rate = 800 ÷ 8,000 = 10%. Apply the appropriate real estate math formula to arrive at the answer.. The correct answer is 10%.. This is a common calculation on the West Virginia real estate exam.
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