U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



First Quarter 1998

Table 9. Characteristics of Unfurnished Apartments Completed in the
         Last Four Quarters and Reported as Rented and Remaining
         for Rent in the First Quarter of 1998

(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 are computed using unrounded data.)


                           Total             Apartments
                      apartments                 rented
                       completed               prior to
                       in last 4   Standard  1st quarter  Standard
                        quarters     error*        1998     error*

   Total                 189,700     6,260      116,100     5,510

  Asking rent:
Less than $450            14,300     2,260        9,700     2,190
$450 to $549              22,500     2,050       12,800     1,900
$550 to $649              29,800     2,930       19,200     2,690
$650 to $749              37,600     3,200       21,300     2,380
$750 to $849              26,300     1,500       16,700     1,510
$850 or more              59,100     2,970       36,500     2,610
Median asking rent          $725       $12         $727       $18

  Units with:
Fewer than 2 bedrooms     63,300     3,030       38,800     2,310
2 bedrooms                98,500     4,970       62,000     4,720
3 bedrooms or more        27,900     2,300       15,300     1,650



                                             Apartments
                                              remaining
                      Apartments               for rent
                       rented in              at end of
                      1st quarter  Standard  1st quarter  Standard
                            1998     error*        1998     error*


   Total                  48,100     2,640       25,500     2,410

  Asking rent:
Less than $450             3,000       650        1,600       750
$450 to $549               6,600     1,100        3,100       520
$550 to $649               7,000       970        3,700       670
$650 to $749              11,000     1,760        5,300     1,390
$750 to $849               6,300       670        3,400       670
$850 or more              14,200       940        8,400     1,460
Median asking rent          $718       $17         $732       $32

  Units with:
Fewer than 2 bedrooms     16,200     1,110        8,400     1,450
2 bedrooms                25,200     2,260       11,300     1,090
3 bedrooms or more         6,800       790        5,800     1,580

* One standard error (68-percent confidence interval)
 Note: These data are for completions in the first through  
        fourth quarters of 1997.



Go to Detailed Tables for First Quarter 1998 Absorptions
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