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Survey of Market Absorption of Apartments (SOMA)



Survey of Market Absorption
Characteristics 2003: Table 2

	
	Table 2.  Unfurnished Apartments Completed and 3-Month Absorption Rate
	by Rent and Number of Bedrooms for the United States and Regions: 2003

	(Privately financed, nonsubsidized, unfurnished, rental apartments in
	buildings with five units or more. Data regarding number of bedrooms
	and asking rent are collected at the initial interview, i.e., 3 months
	following completion. Details may not sum to totals because of
	rounding. Medians and percents are computed using unrounded data.)

                                 Number of unfurnished apartments
                              United
	Characteristic          States         Northeast        Midwest            South             West

        Total                 167,800          21,500          35,500           71,400           39,400

	Less than $650           25,200             600           8,100           13,100            3,300
	$650 to $749             23,200             300           9,800           10,500            2,600
	$750 to $849             23,000             100           6,400           11,900            4,700
	$850 to $949             15,100             700           2,400            8,100            7,900
	$950 to $1,049           14,200           2,300           1,600            6,700            3,600
	$1,050 or more           67,100          17,500           7,000           21,200           21,300
	Median asking rent         $932          $1,050+           $747             $853           $1,050+

	No bedroom                5,900           2,500             700              900            1,800
	Less than $850            1,900             400             200              400              800
	$850 or more              4,000           2,100             500              400            1,000
	Median asking rent*      $1,050+         $1,050+         $1,050+            $858           $1,008

	1 bedroom                56,300           7,000          11,100           22,900           15,400
	Less than $650           12,400             200           5,500            5,000            1,700
	$650 to $749              7,900             100           1,800            4,500            1,500
	$750 to $849              7,400              -	            200            4,300            2,900
	$850 to $949              5,600             500	            400            3,100            1,600
	$950 to $1,049            4,100             100             400            2,000            1,600
	$1,050 or more           19,000           6,000	          2,700            4,100            6,200
	Median asking rent         $858          $1,050+           $651             $796             $955

	2 bedrooms               84,900          10,800          19,200           37,200           17,700
	Less than $650            9,800             100           2,500            6,700              600
	$650 to $749             13,100             100           7,300            5,000              700
	$750 to $849             12,500             100           5,100            5,800            1,500
	$850 to $949              6,900             (Z)           1,100            3,900            1,900
	$950 to $1,049            8,400           2,200	            700            3,800            1,700
	$1,050 to $1,149          7,200           1,900             300            3,900            1,200
	$1,150 or more           26,900           6,600           2,200            8,000           10,100
	Median asking rent         $951          $1,150+           $747             $878           $1,150+

	3 bedrooms or more       20,700           1,200           4,500           10,500            4,400
	Less than $650            1,700             (Z)             (Z)            1,100              600
	$650 to $749              1,800              -              600            1,100              100
	$750 to $849              3,000             (Z)           1,100            1,700              200
	$850 to $949              2,200             (Z)             900              900              400
	$950 to $1,049            1,500              -              400              900              200
	$1,050 to $1,149          1,200             200             300              600              100
	$1,150 or more            9,300           1,000           1,100            4,300            2,900
	Median asking rent       $1,060          $1,150+           $903           $1,010           $1,150+


	                              Percent absorbed within 3 months
	                        United
	Characteristic          States           Northeast         Midwest          South             West

	   Total                 62                 82               62               57               63

	Less than $650           73                 48               73               73               74
	$650 to $749             63                 84               63               59               75
	$750 to $849             59                 60               65               53               66
	$850 to $949             58                 94               71               50               61
	$950 to $1,049           56                 57               54               52               69
	$1,050 or more           62                 86               44               41               58
	Median asking rent       (X)                (X)              (X)              (X)              (X)

	No bedroom               62                 79               34               65               48
	Less than $850           68                 36               83               85               72
	$850 or more             59                 88               13               47               28
	Median asking rent       (X)                (X)              (X)              (X)              (X)

	1 bedroom                65                 87               61               61               64
	Less than $650           77                 79               79               73               79
	$650 to $749             59                 67               50               58               74
	$750 to $849             59                 (X)              47               54               67  
	$850 to $949             59                 96               31               52               67
	$950 to $1,049           58                 20               37               61               62
	$1,050 or more           66                 88               42               61               57
	Median asking rent       (X)                (X)              (X)              (X)              (X)

	2 bedrooms               60                 80               60               54               62
	Less than $650           67                 96               59               68               76
	$650 to $749             63                100               66               57               75
	$750 to $849             56                 58               64               47               63
	$850 to $949             56                 (Z)              66               52               59
	$950 to $1,049           58                 59               55               49               78
	$1,050 to $1,149         56                 81               63               42               60
	$1,050 or more           62                 87               29               53               59
	Median asking rent       (X)                (X)              (X)              (X)              (X)

	3 bedrooms or more       64                 71               76               59               64
	Less than $650           85                 (Z)              (Z)              97               63
	$650 to $749             70                 (X)              57               75              100
	$750 to $849             70                 (Z)              71               70               67
	$850 to $949             61                 (Z)              95               30               47
	$950 to $1,049           54                 (X)              70               47               52
	$1,050 to $1,149         52                 58               52               47               62
	$1,050 or more           61                 73               83               50               66
	Median asking rent       (X)                (X)              (X)              (X)              (X)

	- Represents zero.  X Not applicable.  Z Fewer than 50 units or less then one-half of 1 percent.
      *The $1,050+ median for efficiencies cannot be compared to the other types of units shown here 
        due to disclosure avoidance reasons.



Go to Characteristics of Apartments Completed: 2003
Contact George Boyd at 301-763-3199 or mail to george.t.boyd@census.gov for further information on the Survey of Market Absorption of Apartments Data.

Source: U.S. Census Bureau, Social, Economic, and Housing Statistics Division
Last Revised: September 30, 2011