This report lays the groundwork for exploring the issue of vacancy by defining what is meant by a “vacant” property, what constitutes a “healthy” vacancy rate, how vacant properties are measured, and why properties become vacant and abandoned. It discusses the impact of vacant properties on the communities in which they are situated. The report gives a definition of vacant properties in the context of the overall housing market, explains the negative effects of vacant properties on the overall community well being, and concludes with recommendations on how to curb the vacancy problem.