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Housing Vacancies and Homeownership (CPS/HVS)
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First Quarter 1997
UNITED STATES DEPARTMENT OF
COMMERCE
NEWS
WASHINGTON, D.C. 20230
Robert R. Callis For Release 10:00 AM EDT, April 22, 1997
Alan Friedman CB97-59
(301) 763-8165
CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND
HOMEOWNERSHIP
(The numbers in parentheses denote the 90-percent confidence intervals.)
National vacancy rates in the first quarter 1997 were 7.5 (+/- 0.3)
percent in rental housing and 1.7 percent (+/- 0.1) percent in homeowner
housing, the Department of Commerce's Census Bureau announced today. The
Census Bureau said that the rental vacancy rate was not significantly different
from the rate last quarter or the rate in the first quarter 1996. The homeowner
vacancy rate was higher than the rate one year ago, but not different from
last quarter.
Table 1. Rental and Homeowner Vacancy Rates for the United States:
1980 to 1997 (in percent)
.
Rental Vacancy Rate Homeowner Vacancy Rate
First Second Third Fourth First Second Third Fourth
Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
1997 7.5 1.7
1996 7.9 7.8 8.0 7.7 1.6 1.5 1.7 1.7
1995 7.4 7.7 7.7 7.7 1.5 1.6 1.5 1.6
1994 7.5 7.4 7.2 7.4 1.4 1.4 1.4 1.6
1993r 7.8 7.6 7.0 6.9 1.4 1.4 1.4 1.4
1993 7.9 7.6 7.1 6.9 1.4 1.4 1.4 1.4
1992 7.4 7.7 7.3 7.1 1.5 1.6 1.6 1.5
1991 7.5 7.3 7.6 7.3 1.7 1.8 1.8 1.6
1990 7.5 7.0 7.2 7.2 1.7 1.7 1.7 1.7
1989r 7.5 7.4 7.6 7.1 1.7 1.7 1.9 1.8
1989 7.3 7.3 7.3 6.8 1.5 1.6 1.8 1.6
1988 8.0 7.7 7.8 7.3 1.6 1.6 1.6 1.6
1987 7.4 7.5 8.1 7.8 1.7 1.7 1.7 1.6
1986 6.9 7.3 7.5 7.7 1.5 1.7 1.6 1.6
1985 6.3 6.2 6.8 6.7 1.8 1.9 1.8 1.6
1984 5.6 5.5 6.0 6.3 1.6 1.7 1.7 1.7
1983 5.7 5.5 5.8 5.5 1.4 1.5 1.6 1.6
1982 5.3 5.1 5.3 5.5 1.4 1.6 1.5 1.6
1981 5.2 5.0 5.0 5.0 1.3 1.3 1.5 1.4
1980 5.2 5.6 5.7 5.0 1.3 1.4 1.4 1.4
rRevised.
For rental housing, the vacancy rate was higher in central cities and
outside Metropolitan Areas (MAs) (8.0 percent and 8.8 percent) than in the
suburbs (6.4 percent). The 8.0 percent and the 8.8 percent were not
significantly different from each other. The rental vacancy rate in suburbs
was lower than in the first quarter 1996, while rates in central cities
and outside MAs were not significantly different from one year ago.
For homeowner housing, the vacancy rates in central cities and outside
MAs (2.0 percent each) were higher than in suburbs (1.5 percent). The
homeowner vacancy rate outside MAs was higher than the rate one year ago,
while rates in central cities and in the suburbs did not change significantly.
Among regions, the rental vacancy rates in the Midwest (8.5 percent) and
South (8.7 percent) were higher than rates in the Northeast (6.1 percent)
and West (6.2 percent). The 8.5 percent was not significantly different
from the 8.7 percent, nor was the 6.1 percent significantly different from
the 6.2 percent. The rental vacancy rate in the West was lower than a year
ago, while rates in the Northeast, Midwest, and South were not significantly
different from one year ago.
The homeowner vacancy rate was lowest in the Midwest (1.3 percent).
Homeowner vacancy rates in the Northeast, South, and West (about 1.8 percent)
were not significantly different from each other. The homeowner vacancy rate
in the South was higher than one year ago, while rates in the Northeast,
Midwest, and West showed no significant change from one year ago.
Table 2. Rental and Homeowner Vacancy Rates By Area:
First Quarter 1997 and 1996 (in percent)
Rental vacancy rates Homeowner vacancy rates
1st 1st Std err Standard 1st 1st Std err Standard
Area Qtr Qtr on 1997 error on Qtr Qtr on 1997 error on
1997 1996 rate differ- 1997 1996 rate differ-
ence ence
United States.. 7.5 7.9 0.2 0.3 1.7 1.6 0.1 0.1
Inside MAs.... 7.3 7.6 0.2 0.3 1.6 1.6 0.1 0.1
In central
cities...... 8.0 8.0 0.3 0.4 2.0 2.1 0.1 0.2
Not in central
cities (sub-
urbs)....... 6.4 7.1 0.3 0.4 1.5 1.3 0.1 0.1
Outside MAs... 8.8 9.6 0.5 0.7 2.0 1.7 0.1 0.2
Northeast..... 6.1 6.9 0.4 0.5 1.8 1.7 0.2 0.2
Midwest....... 8.5 8.3 0.4 0.6 1.3 1.5 0.1 0.2
South......... 8.7 8.5 0.3 0.5 1.9 1.6 0.1 0.1
West.......... 6.2 7.6 0.3 0.5 1.8 1.7 0.1 0.2
There were an estimated 115.1 million housing units in the United States
in the first quarter 1997 Approximately 101.7 million were occupied, 66.5
million by owners and 35.2 million by renters. The number of owner-occupied
units was higher than one year ago, while the number of renter-occupied units
was not significantly different from a year ago. Of the 13.4 million vacant
housing units, 10.0 million were for year-round use. Approximately 2.9
million of the year-round vacant units were for-rent, 1.2 million were
for-sale-only, and the remaining 5.9 million were vacant for a variety of
reasons. There was an increase in the number of vacant for-sale-only,
other vacant, and seasonally vacant units, while the number of for-rent
units did not change significantly from one year ago.
Table 3. Estimates of the Total Housing Inventory for the United States:
First Quarter 1997 and 1996
(Numbers in Thousands)
Standard
Type 1st 1st error on Standard Percent
Qtr Qtr 1997 error on of total
1997 1996 Estimate difference (1997)
All housing units........115,064 113,258 238 337 100
Occupied...................101,702 100,472 246 348 88
Owner ................... 66,497 65,453 240 340 58
Renter................... 35,205 35,019 198 280 31
Vacant..................... 13,362 12,786 131 183 12
Year-round vacant......... 10,007 9,656 115 161 9
For rent................ 2,886 3,026 63 90 3
For sale only........... 1,176 1,066 40 56 1
Other................... 5,945 5,564 89 124 5
Seasonal................... 3,355 3,130 68 94 3
During the first quarter 1997, the homeownership rate was 65.4 percent
(+/-0.3) percent. The homeownership rate was not significantly different
from the rate last quarter or the rate one year ago.
Table 4. Homeownership Rates for the United States: 1980 to 1997
(in percent)
Homeownership Rates1
Year First Second Third Fourth
Quarter Quarter Quarter Quarter
1997................. 65.4
1996................. 65.1 65.4 65.6 65.4
1995................. 64.2 64.7 65.0 65.1
1994................. 63.8 63.8 64.1 64.2
1993r................ 63.7 63.9 64.2 64.2
1993................. 64.2 64.4 64.7 64.6
1992................. 64.0 63.9 64.3 64.4
1991................. 63.9 63.9 64.2 64.2
1990................. 64.0 63.7 64.0 64.1
1989r................ 63.9 63.8 64.1 63.8
1989................. 63.9 63.9 64.0 63.8
1988................. 63.7 63.7 64.0 63.8
1987................. 63.8 63.8 64.2 64.1
1986................. 63.6 63.8 63.8 63.9
1985................. 64.1 64.1 63.9 63.5
1984................. 64.6 64.6 64.6 64.1
1983................. 64.7 64.7 64.8 64.4
1982................. 64.8 64.9 64.9 64.5
1981................. 65.6 65.3 65.6 65.2
1980................. 65.5 65.5 65.8 65.5
1Standard errors for quarterly homeownership rates for the United States
generally are 0.2 percent.
rRevised.
Homeownership rates in the first quarter 1997 were highest in the Midwest
(70.6 percent) and lowest in the West (59.0 percent). The homeownership
rates in each region showed no significant change from the first quarter 1996.
Table 5. Homeownership Rates for the United States and Regions:
1994 to 1997 (in percent)
Homeownership Rates2
Year/Quarter United Northeast Midwest South West
States
1997
First Quarter 65.4 61.6 70.6 67.8 59.0
1996
Fourth Quarter 65.4 62.3 70.8 67.6 58.9
Third Quarter 65.6 62.8 70.7 67.5 59.2
Second Quarter 65.4 62.3 70.5 67.2 59.8
First Quarter 65.1 61.4 70.4 67.5 58.9
1995
Fourth Quarter 65.1 61.6 70.1 67.5 59.0
Third Quarter 65.0 62.2 70.1 66.6 59.1
Second Quarter 64.7 62.3 68.5 66.5 59.8
First Quarter 64.2 61.9 67.9 66.1 58.9
1994
Fourth Quarter 64.2 61.4 68.6 65.7 59.6
Third Quarter 64.1 61.4 67.9 66.0 59.0
Second Quarter 63.8 61.3 67.5 65.2 59.7
First Quarter 63.8 61.7 66.8 65.6 59.5
2Standard errors for quarterly homeownership rates by region generally are
0.4 percent.
Homeownership rates by age of householder ranged from 38.6 percent for
householders less than 35 years old to 79.6 percent for householders 55 to
64 years old in the first quarter 1997. The homeownership rate for householders
35 to 44 years old was higher than the rate one year ago, while rates for all
other age categories showed no significant change.
Table 6. Homeownership Rates by Age of Householder: 1994 to 1997
(In percent)
Homeownership Rates3
Year/Quarter U.S. Less than 35 to 44 45 to 54 55 to 64 65 years
total 35 years years years years and over
1997
First Quarter 65.4 38.6 65.5 75.5 79.6 79.2
1996
Fourth Quarter 65.4 39.1 65.5 75.6 80.1 79.2
Third Quarter 65.6 39.0 66.3 75.9 79.7 78.6
Second Quarter 65.4 39.3 65.5 75.5 80.0 78.9
First Quarter 65.1 38.8 64.6 75.5 80.2 79.1
1995
Fourth Quarter 65.1 39.1 65.5 75.2 79.5 78.7
Third Quarter 65.0 39.1 65.4 75.4 79.3 78.1
Second Quarter 64.7 38.7 65.1 75.2 79.9 78.1
First Quarter 64.2 37.7 64.9 74.9 79.4 77.5
1994
Fourth Quarter 64.2 38.0 64.7 74.9 79.2 77.7
Third Quarter 64.1 37.5 64.3 75.5 79.4 77.2
Second Quarter 63.8 36.8 64.6 75.2 79.1 77.2
First Quarter 63.8 37.1 64.4 75.0 79.3 77.4
3Standard errors for quarterly homeownership rates by age of householder
generally are 0.4 percent.
The homeownership rate in the first quarter 1997 remained highest for White
non-Hispanic householders at 71.6 percent. The homeownership rates for White,
White non-Hispanic, Black, Other Race, and Hispanic householders showed no
significant difference from a year ago.
Table 7. Homeownership Rates by Race and Ethnicity of Householder:
1994 to 1997 (in percent)
Homeownership Rates4
Non-Hispanic
White Other
Year/Quarter United White, non- Black, Race, Hispanic
States, total Hispanic total total total
total
1997
First Quarter 65.4 69.0 71.6 44.5 51.8 42.6
1996
Fourth Quarter 65.4 69.1 71.8 44.4 51.4 42.3
Third Quarter 65.6 69.2 71.8 44.5 51.5 43.5
Second Quarter 65.4 69.2 71.7 43.7 50.0 43.9
First Quarter 65.1 68.7 71.4 43.8 50.9 41.4
1995
Fourth Quarter 65.1 68.8 71.2 44.3 48.4 41.1
Third Quarter 65.0 69.0 71.0 43.0 46.5 42.5
Second Quarter 64.7 68.7 70.9 42.2 46.7 42.8
First Quarter 64.2 68.2 70.4 41.2 47.2 41.8
1994
Fourth Quarter 64.2 68.0 70.2 42.6 47.6 42.2
Third Quarter 64.1 67.8 70.0 42.7 46.9 41.4
Second Quarter 63.8 67.6 69.9 41.8 46.3 41.1
First Quarter 63.8 67.4 69.8 42.1 50.1 40.3
4Standard errors for quarterly homeownership rates by race and ethnicity of
householder generally are 0.2 percent for White and White non-Hispanic
householders, 0.5 for Black householders, 1.0 percent for Other Race
householders, and 0.7 for Hispanic householders.
The homeownership rate for households with incomes less than the median
family income in the first quarter 1997 was 49.9 percent, compared with 79.7
percent for households with incomes greater than or equal to the median family
income. These homeownership rates were not statistically different from first
quarter 1996 rates.
Table 8. Homeownership Rates by Family Income: 1994 to 1997 (in percent)
Homeownership Rates5
United Households with Households with
States, family income greater family income
total or equal to median less than median
family income6 family income6
Year/Quarter
1997
First Quarter 65.4 79.7 49.9
1996
Fourth Quarter 65.4 80.1 49.8
Third Quarter 65.6 80.5 49.4
Second Quarter 65.4 80.3 49.2
First Quarter 65.1 79.7 49.4
1995
Fourth Quarter 65.1 79.8 49.4
Third Quarter 65.0 79.6 49.0
Second Quarter 64.7 79.5 48.6
First Quarter 64.2 79.1 48.1
1994
Fourth Quarter 64.2 78.8 48.6
Third Quarter 64.1 78.3 48.9
Second Quarter 63.8 78.4 48.0
First Quarter 63.8 78.5 48.1
5Standard errors for quarterly homeownership rates by family income generally
are 0.3 percent.
6Based on families or primary individuals reporting income.
Note: This press release along with more detailed data are available on the
Internet. Our Internet address is: http://www.census.gov/hhes/www/hvs.html
The estimates in this release are based on a sample survey and therefore are
subject to both sampling and non-sampling error. Sampling error is a result of
not surveying the entire population. Non-sampling error occurs because
accurate information cannot always be obtained. The standard errors provided in
the tables are primarily measures of sampling error.
Standard errors are used to: 1) measure the accuracy of the survey estimates,
and 2) draw inferences from the survey data. For example, the standard error
on the estimated rental vacancy rate of 7.5 percent is 0.2 percentage points.
Consequently, the 90-percent confidence interval as shown by these data is from
7.2 to 7.8; i.e., the interval 7.5 +/- (1.6 x 0.2) percentage points. Thus, one
can say with about 90-percent confidence that the average rental vacancy rate
derived from all possible samples is included in this confidence interval.
Statements about differences are made only when the 90-percent confidence
interval on the estimated difference does not include zero.
Go to Housing Vacancies and Homeownership: First Quarter 1997
Contact Bob Callis or Linda Cavanaugh at (301)763-3199 or visit ask.census.gov for further information on the Housing Vacancy Survey.
Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: January 09, 2006
