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Housing Vacancies and Homeownership (CPS/HVS)
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Second Quarter 1996
Press Release
Robert R. Callis For Release 10:00 AM EDT, July 22, 1996
Alan Friedman CB96-112
(301) 763-8165
CENSUS BUREAU REPORTS ON
RESIDENTIAL VACANCIES AND HOMEOWNERSHIP
National vacancy rates in the second quarter 1996 were 7.8 (+/-0.3)
percent in rental housing and 1.5 (+/-0.1) percent in homeowner housing, the
Department of Commerce's Census Bureau announced today. The Bureau said
that neither the rental vacancy rate nor the homeowner vacancy rate was
significantly different from the rate last quarter or the rate in the
second quarter 1995.
Table 1. RENTAL AND HOMEOWNER VACANCY RATES FOR THE UNITED STATES:
1980 to 1996 (in percent)
Rental vacancy rates Homeowner vacancy rates
First Second Third Fourth First Second Third Fourth
Year quarter quarter quarter quarter quarter quarter quarter quarter
. .
1996... 7.9 7.8 1.6 1.5
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 highest outside Metropolitan
Areas (MAs) (8.8 percent). The rental vacancy rate in the suburbs (7.2
percent) was higher than the rate one year ago, while the rate in central
cities (7.8 percent) was lower. There was no significant difference
between the central city and suburban vacancy rate.
For homeowner housing, the vacancy rate outside MAs (1.9 percent) was
higher than the rate in the suburbs (1.2 percent), but not significantly
different from the rate in central cities. The homeowner vacancy rate
outside MAs was higher than the rate one year ago, while the rate in
central cities (1.7 percent) was lower.
Among regions, the rental vacancy rate was highest in the South (8.6
percent). The rental vacancy rates in the Northeast, Midwest, and West
were not significantly different from each other. The rental vacancy rates
in each region did not differ significantly from one year ago.
The homeowner vacancy rate was highest in the South (1.9 percent).
The homeowner vacancy rate in the West was lower than the second quarter
1995 rate, while rates in the Northeast, Midwest, and South showed no
significant change from one year ago.
Table 2. RENTAL AND HOMEOWNER VACANCY RATES BY REGION:
SECOND QUARTER 1996 AND 1995 (in percent)
Rental vacancy rates Homeowner vacancy rates
Area 2nd 2nd Std err Standard 2nd 2nd Std err Standard
Qtr Qtr on 1996 error on Qtr Qtr on 1996 error on
1996 1995 rate differ- 1996 1995 rate differ-
. .
United States....... 7.8 7.7 0.2 0.2 1.5 1.6 0.1 0.1
Inside MAs........ 7.5 7.6 0.2 0.3 1.4 1.6 0.1 0.1
In central cities 7.8 8.5 0.3 0.4 1.7 2.2 0.1 0.2
Not in central
cities (suburbs). 7.2 6.5 0.3 0.4 1.2 1.3 0.1 0.1
Outside MAs...... 8.8 8.2 0.5 0.6 1.9 1.5 0.1 0.2
Northeast......... 7.6 7.5 0.4 0.6 1.4 1.5 0.1 0.2
Midwest........... 7.2 7.1 0.4 0.5 1.1 1.3 0.1 0.1
South............. 8.6 8.2 0.3 0.4 1.9 1.8 0.1 0.1
West............. 7.2 7.7 0.3 0.5 1.3 1.8 0.1 0.2
There were an estimated 114.2 million housing units in the United
States in the second quarter 1996. Approximately 101.1 million were
occupied, 66.1 million by owners and 34.9 million by renters. Of the
13.1 million vacant housing units, 9.9 million were for year-round use,
while the remaining 3.2 million were intended for seasonal use.
Approximately 3.0 million of the year-round vacant units were for rent,
1.0 million were for sale only, and the remaining 6.0 million were vacant
for a variety of reasons.
Table 3. ESTIMATES OF THE TOTAL HOUSING INVENTORY FOR THE
UNITED STATES: SECOND QUARTER 1996 and 1995
(Numbers in thousands)
Type Standard Standard
2nd 2nd error on error
Qtr Qtr 1996 on
1996 1995 Estimate difference
All housing units..... 114,207 112,743 238 331
Occupied......................... 101,082 99,932 246 342
Owner.......................... 66,147 64,668 240 333
Renter......................... 34,935 35,264 197 274
Vacant........................... 13,125 12,811 130 179
Year-round..................... 9,949 9,794 114 158
For rent...................... 2,975 2,969 64 88
For sale only................. 997 1,046 37 52
Other......................... 5,977 5,779 90 123
Seasonal....................... 3,176 3,017 66 90
During the second quarter 1996, the homeownership rate was 65.4 (+/-0.3)
percent. The homeownership rate was higher than a year ago, but not
significantly different from the rate last quarter.
Table 4. HOMEOWNERSHIP RATES FOR THE UNITED STATES: 1980 to 1996
(in percent)
Homeownership Rates1
Year
First Second Third Fourth
quarter quarter quarter quarter
.
1996................. 65.1 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 second quarter 1996 were highest in the
Midwest (70.5 percent) and lowest in the West (59.8 percent). The
homeownership rates in Midwest and South were higher than in the second
quarter 1995, while rates in the Northeast and West were not statistically
different from a year ago.
Table 5. HOMEOWNERSHIP RATES FOR THE UNITED STATES AND REGIONS:
1994 to 1996 (in percent)
Homeownership Rates2
Year/Quarter U.S. total Northeast Midwest South West
1996
2nd Quarter 65.4 62.3 70.5 67.2 59.8
1st Quarter 65.1 61.4 70.4 67.5 58.9
1995
4th Quarter 65.1 61.6 70.1 67.5 59.0
3rd Quarter 65.0 62.2 70.1 66.6 59.1
2nd Quarter 64.7 62.3 68.5 66.5 59.8
1st Quarter 64.2 61.9 67.9 66.1 58.9
1994
4th Quarter 64.2 61.4 68.6 65.7 59.6
3rd Quarter 64.1 61.4 67.9 66.0 59.0
2nd Quarter 63.8 61.3 67.5 65.2 59.7
1st 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 39.3 percent for
householders less than 35 years old to 80.0 percent for householders 55 to
64 years old in the second quarter 1996. The homeownership rate for
householders 65 years and over was higher than in the second quarter 1995,
while rates for other age groups showed no significant change from a year
ago.
Table 6. HOMEOWNERSHIP RATES BY AGE OF HOUSEHOLDER: 1994 to 1996
(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
1996
2nd Quarter 65.4 39.3 65.5 75.5 80.0 78.9
1st Quarter 65.1 38.8 64.6 75.5 80.2 79.1
1995
4th Quarter 65.1 39.1 65.5 75.2 79.5 78.7
3rd Quarter 65.0 39.1 65.4 75.4 79.3 78.1
2nd Quarter 64.7 38.7 65.1 75.2 79.9 78.1
1st Quarter 64.2 37.7 64.9 74.9 79.4 77.5
1994
4th Quarter 64.2 38.0 64.7 74.9 79.2 77.7
3rd Quarter 64.1 37.5 64.3 75.5 79.4 77.2
2nd Quarter 63.8 36.8 64.6 75.2 79.1 77.2
1st 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 second quarter 1996 was highest for
White Non-Hispanic householders at 71.7 percent. The homeownership rates
for White Non-Hispanic and Black Non-Hispanic householders were higher than
in the second quarter 1995. Homeownership rates for Other race Non-
Hispanic householders and Hispanic householders showed no significant
difference from a year ago.
Table 7. HOMEOWNERSHIP RATES BY RACE AND ETHNICITY OF HOUSEHOLDER:
1994 to 1996 (in percent)
Homeownership Rates4
Non-Hispanic
Year/Quarter U.S.
total White Black Other Hispanic
1996
2nd Quarter 65.4 71.7 44.0 50.4 43.9
1st Quarter 65.1 71.4 44.2 51.5 41.4
1995
4th Quarter 65.1 71.2 44.6 52.1 41.1
3rd Quarter 65.0 71.1 43.3 52.0 42.5
2nd Quarter 64.7 70.9 42.3 50.6 42.8
1st Quarter 64.2 70.4 41.5 51.5 41.8
1994
4th Quarter 64.2 70.2 42.9 51.2 42.2
3rd Quarter 64.1 70.0 42.9 51.0 41.4
2nd Quarter 63.8 69.9 42.0 48.5 41.1
1st Quarter 63.8 69.8 42.4 52.5 40.3
4Standard errors for quarterly homeownership rates by race and ethnicity of
householder generally are 0.2 percent for White Non-Hispanic, 0.5 for
Black Non-Hispanic, 1.0 percent for Other Non-Hispanic, and 0.7 percent
for Hispanic householders.
The homeownership rate for households with incomes less than the
median family income in the second quarter 1996 was 49.2 percent, compared
to 80.3 percent for households with incomes greater than or equal to the
median family income. The rate for higher-income households was higher
than in the second quarter 1995, while the rate for lower-income households
was not statistically different from last year.
Table 8. HOMEOWNERSHIP RATES BY FAMILY INCOME:
1994 to 1996 (in percent)
Homeownership Rates5
U.S. total Households with Households with
Year/Quarter family income greater family income
or equal to median less than median
family income6 family income6
1996
2nd Quarter 65.4 80.3 49.2
1st Quarter 65.1 79.7 49.4
1995
4th Quarter 65.1 79.8 49.4
3rd Quarter 65.0 79.6 49.0
2nd Quarter 64.7 79.5 48.6
1st Quarter 64.2 79.1 48.1
1994
4th Quarter 64.2 78.8 48.6
3rd Quarter 64.1 78.3 48.9
2nd Quarter 63.8 78.4 48.0
1st 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 is available
on the Internet. Our Internet address is:
http://www.census.gov/hhes/www/hvs.html
The data in this release are the result of a sample survey and are,
therefore, subject to sampling variability. For example, the standard
error on the estimated rental vacancy rate of 7.8 is 0.2 percentage points.
Consequently, the 90 percent confidence interval as shown by these data is
from 7.5 to 8.1; i.e., the interval 7.8 +/- (1.6 x 0.2) percentage points.
Thus, one can say with about 90 percent confidence that the average
estimate derived from all possible samples is included in this confidence
interval. The 90 percent confidence intervals are shown in the text above
for selected items. The standard errors for other figures in this release
are given in the tables.
Hypothesis testing may be performed at various levels of significance,
where a level of significance is the probability of concluding that the
parameters are different when, in fact, they are identical. All statements
of comparison in the text have passed a hypothesis test at the 0.10 level
of significance. This means that, for differences cited in the text, the
estimated difference between characteristics is greater than 1.6 times the
standard error of the difference.
In addition to sampling error, the figures in this release, both the
estimates and their standard errors, are also subject to nonsampling error.
Go to Housing Vacancies and Homeownership: Second Quarter 1996
Contact Bob Callis or Melissa Kresin 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: October 31, 2011
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