The rental vacancy rate in Jackson and Josephine counties fell below 4 percent in October, according to the Southern Oregon Rental Owners Association.

The rental vacancy rate in Jackson and Josephine counties fell below 4 percent in October, according to the Southern Oregon Rental Owners Association.

SOROA members counted 198 vacancies out of 4,999 units, reporting a 3.96 percent vacancy rate. The September rate was 4.63 percent. In October 2009 it was 5.95 percent.

Foreclosures continue to be relevant on both sides of the equation as some former homeowners move into rentals and some single-family residence rental owners also have lost their property.

"It's been significant," said Betty Johnson of Active Property Service. "More single-family residences are being rentals now because so many people are picking up foreclosures at cheaper prices."

— Greg Stiles