Highest vacancy rate

No. 1 Jacksonville, Fla.

Vacancy rate in 09Q4: 14.4%
Vacancy rate YOY change: +17.1%
Asking rent (monthly): $805

Florida's largest city and home to CSX and Fidelity National Financial, Jacksonville had the highest vacancy rate of 79 metros in Reis's survey. The unemployment rate in December reached 11.3%, according to preliminary estimates by the Bureau of Labor Statistics. Despite weak demand in 2009, rents did increase slightly during the second half of the year, with the level in Q4 up 0.8% compared with a year earlier to $805.