Memphis is number three
In Pictures: America's Emptiest Cities
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%.