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Survey of Market Absorption of Apartments (SOMA)



Third Quarter 2003

Table 9. Characteristics of Unfurnished Apartments Completed in the
         Last Four Quarters and of Those Reported as Rented and
         Remaining for Rent in the Third Quarter of 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 are computed using unrounded data.

                                                    Apartments
                                                    completed
                                                    in last
                       Total                        4 quarters
                       apartments                   and rented
                       completed                    prior to
                       in last 4      Standard      3rd quarter    Standard
                       quarters          error*        2003           error*

    Total               195,000          7,700        111,200         5,120

  Asking rent:
Less than $650           30,500          4,550         19,600         3,410
$650 to $749             27,600          4,160         17,800         3,150
$750 to $849             26,900          3,340         16,100         2,160
$850 to $949             17,600          1,570         10,400         1,070
$950 to $1,049           15,300          1,640          9,200         1,110
$1,050 or more           77,000          7,730         38,100         3,220
Median asking rent         $920            $27           $870           $28


  Units with:
Fewer than 2 bedrooms    74,700          4,810         40,600         2,560
2 bedrooms               96,900          4,350         55,200         3,510
3 bedrooms or more       23,400          1,840         15,500         1,500

                                                     Apartments
                                                     completed
                        Apartments                   in last 4
                        completed                    quarters
                        in last 4                    and remain-
                        quarters                     ing for
                        and rented                   rent at end
                        in 3rd          Standard       of 3rd      Standard
                        quarter 2003     error*      quarter 2003    error*


   Total                 50,700          3,620         33,100         2,230

  Asking rent:
Less than $650            7,100          1,360          3,800         1,050
$650 to $749              6,300          1,190          3,600           470
$750 to $849              5,900            860          4,900           940
$850 to $949              4,200            490          3,000           490
$950 to $1,049            3,100            370          2,900           600
$1,050 or more           24,100          2,880         14,900         2,180
Median asking rent       $1,008            $43           $993           $30

  Units with:
Fewer than 2 bedrooms    22,700          3,710         11,500         1,260
2 bedrooms               23,500          2,370         18,300         1,290
3 bedrooms or more        4,600            450          3,300           450


* One standard error (68-percent confidence interval)
 Note: These data are for completions in the third and fourth
      quarters of 2002, and the first and second quarters of 2003.


Go to Detailed Tables for Third Quarter 2003 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