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Survey of Market Absorption of Apartments (SOMA)



Survey of Market Absorption
Characteristics 2004: Table 2


	

	

	Table 2.  Unfurnished Apartments Completed and 3-Month Absorption Rate

	by Rent and Number of Bedrooms for the United States and Regions: 2004



	(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                   155,000          13,100          31,700           73,000           37,100



	Less than $650           18,700             100           8,100            8,100            2,400

	$650 to $749             19,300             200           5,500           12,000            1,600

	$750 to $849             18,000             200           5,300            9,100            3,500

	$850 to $949             17,900             500           4,300            9,700            3,400

	$950 to $1,049           14,500             400           1,900            8,500            3,600

	$1,050 or more           66,600          11,700           6,600           26,500           22,600

	Median asking rent         $932          $1,050+           $791             $925           $1,050+



	No bedroom                4,800             500             400            2,100            1,700

	Less than $850            2,900             100             200            1,400            1,200

	$850 or more              1,900             500             200              700              500

	Median asking rent*        $753          $1,050+           $779             $665             $740



	1 bedroom                53,500           5,100           9,200           25,500           13,700

	Less than $650            9,000             (Z)           4,500            4,300              300

	$650 to $749              7,600             200             900            5,800              700

	$750 to $849              7,500             100           1,600            4,000            1,800

	$850 to $949              5,300             500             800            2,800            1,100

	$950 to $1,049            4,100             200             100            2,600            1,200

	$1,050 or more           20,000           4,200           1,400            5,900            8,500

	Median asking rent         $900          $1,050+           $664             $815           $1,050+



	2 bedrooms               77,000           6,800          16,900           35,500           17,900

	Less than $650            6,600             (Z)           2,900            2,600            1,000

	$650 to $749             10,100             (Z)           4,500            4,900              700

	$750 to $849              8,000             100           2,800            4,300              700

	$850 to $949              9,900             (Z)           2,700            5,200            1,900

	$950 to $1,049            7,700             200           1,000            4,700            1,800

	$1,050 to $1,149          6,800           1,800             900            3,300              900

	$1,150 or more           27,900           4,600           2,000           10,400           10,800

	Median asking rent         $999          $1,150+           $786             $963           $1,150+



	3 bedrooms or more       19,700             700           5,200            9,900            3,900

	Less than $650            1,000              -              600              100              400

	$650 to $749              1,300              -              100            1,100              (Z)

	$750 to $849              2,000              -              800              600              500

	$850 to $949              2,200              -              700            1,400              200

	$950 to $1,049            2,300              -              700            1,000              600

	$1,050 to $1,149          2,100             (Z)             700            1,100              300

	$1,150 or more            8,700             700           1,500            4,600            1,900

	Median asking rent       $1,099          $1,150+         $1,001           $1,121           $1,139





	                              Percent absorbed within 3 months

	                        United

	Characteristic          States           Northeast         Midwest          South             West



	   Total                 62                 75               59               60               65



	Less than $650           70                 89               71               67               77

	$650 to $749             60                 93               47               64               69

	$750 to $849             66                100               67               64               67

	$850 to $949             53                 21               42               54               68

	$950 to $1,049           61                 89               69               55               66

	$1,050 or more           63                 77               57               58               62

	Median asking rent       (X)                (X)              (X)              (X)              (X)



	No bedroom               69                 77               65               67               71

	Less than $850           75                100               86               70               78

	$850 or more             60                 75               39               62               54

	Median asking rent       (X)                (X)              (X)              (X)              (X)



	1 bedroom                64                 74               64               63               63

	Less than $650           69                100               72               65               88

	$650 to $749             65                 93               38               67               78

	$750 to $849             64                100               69               59               69  

	$850 to $949             51                 19               34               57               62

	$950 to $1,049           62                 76               52               59               67

	$1,050 or more           66                 80               67               65               60

	Median asking rent       (X)                (X)              (X)              (X)              (X)



	2 bedrooms               60                 81               54               56               64

	Less than $650           66                 (Z)              66               69               56

	$650 to $749             56                 (Z)              49               63               57

	$750 to $849             68                100               67               69               60

	$850 to $949             50                 (Z)              40               48               71

	$950 to $1,049           60                100               78               53               61

	$1,050 to $1,149         62                 64               70               56               68

	$1,050 or more           60                 86               28               51               64

	Median asking rent       (X)                (X)              (X)              (X)              (X)



	3 bedrooms or more       64                 32               68               62               72

	Less than $650           78                 (X)              78               46               88

	$650 to $749             51                 (X)              41               51               79

	$750 to $849             72                 (X)              67               64               88

	$850 to $949             66                 (X)              63               66               79

	$950 to $1,049           62                 (X)              58               54               81

	$1,050 to $1,149         73                 (Z)              90               67               53

	$1,050 or more           61                  31              63               64               64

	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.

      



	Source: U.S. Census Bureau, Survey of Market Absorption 2004




Go to Characteristics of Apartments Completed: 2004
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