While　high-speed　railway　(HSR)　often　brings　regional　prosperity　and　a　boom　in　real　estate,　it　is　unclear　how　the　housing　vacancy　rate　(HVR)　changes　after　the　opening　of　HSR.　We　identify　the　HVR　changes　in　response　to　HSR　operation　by　employing　smart　meter　data　of　approximately　10　million　households　in　more　than　80　counties　in　the　middle　and　lower　regions　of　the　Yangtze　River　Basin.　We　find　that　HSR　opening　could　reduce　the　urban　HVR　by　1.64%　and　its　reducing　effect　is　stronger　in　district-urban　than　in　county-urban　areas.　The　decreasing　effect　of　HSR　operation　on　urban　HVR　is　more　noticeable　in　areas　with　better　air　quality,　lower　living　costs,　and　more　service　industries.　The　opposite　effects　are　observed　in　rural　areas,　where　the　HSR　operation　has　increased　the　rural　HVR　by　1.16%.　Our　findings　indicate　that　the　siphoning　effect　of　HSR　exists　on　HVR　as　the　rural　population　along　the　HSR　is　attracted　to　central　cities,　and　positive　HSR　promotion　strategies　contribute　to　reducing　urban　HVR.　With　the　development　of　transportation　infrastructure,　the　difference　in　HVR　due　to　urban　and　rural　population　mobility　should　be　taken　into　account.　©　2023　Elsevier　Ltd