Memphis is number three

Right behind Orlando and Las Vegas in Forbes' list of America's Emptiest Cities.

In Pictures: America's Emptiest Cities
Memphis, Tenn.
Home vacancy rate: 4.7%
Apartment vacancy rate: 16.1%.

Elvis Presley's hometown has a steady economy, but decaying rental properties near the city center drag its statistics down. With an apartment vacancy rate of 16.1% at the end of 2011, it lands on the list of Emptiest Cities even though prominent landlord Mark Fogelman says the rate in most parts of the city is less than 8%.

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