Lowest vacancy rate

No. 3 Long Island, N.Y.

Vacancy rate in 09Q4: 3.6%
Vacancy rate YOY change: +9.1%
Asking rent (monthly): $1,516

Despite a 1.5% drop in rent levels during Q4, the apartment market in Long Island—which is considered part of the same metro area as New York and Northern New Jersey—remained stronger than most as demand for housing held during the recession.