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Survey of Market Absorption of Apartments (SOMA)



Third Quarter 2005

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 2005

(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    90%        and rented       90%
                       completed   C.I. (+/-)*  prior to       C.I. (+/-)*
                       in last 4   (number of   3rd quarter    (number of
                       quarters    apartments)  2005           apartments)

   Total                 134,900    13,280       81,700          9,500

  Asking rent:
Less than $750            32,900     6,810       19,700          6,790
$750 to $849              17,500     3,450       10,700          2,540
$850 to $949              16,800     3,240        9,200          1,870
$950 to $1,049            12,400     1,910        7,200         12,170
$1,050 or more            55,400     8,120       34,900          6,260
Median asking rent          $952       $45         $967            $55


  Units with:
Fewer than 2 bedrooms     51,400     5,590       32,000          4,430
2 bedrooms                67,800     6,290       39,800          6,110
3 bedrooms or more        15,800     2,810        9,900          2,410

                                                       Apartments
                                                       completed
                       Apartments                      in last 4
                       completed                       quarters
                       in last 4                       and remain-
                       quarters          90%           ing for            90%
                       and rented      C.I. (+/-)*     rent at end      C.I. (+/-)*
                         in 3rd        (number of      of 3rd           (number of
                       quarter 2005    apartments)     quarter 2005     apartments)


   Total                  33,500        4,910            19,800           2,830

  Asking rent:
Less than $750             9,000        2,650             4,300           1,720
$750 to $849               4,600        1,700             2,100             530
$850 to $949               4,500        1,110             3,100           1,260
$950 to $1,049             3,500          700             1,700             330
$1,050 or more            12,000        2,290             8,600           2,060
Median asking rent          $921          $58              $971             $57

  Units with:
Fewer than 2 bedrooms     12,400        2,670             7,000           1,020
2 bedrooms                17,000        3,330            10,900           2,100
3 bedrooms or more         4,100          830             1,900             370


*A 90-percent confidence interval is a measure of an estimate's variability.
 The larger the confidence interval in relation to the size of the
 estimate, the less reliable the estimate.
 Note: These data are for completions in the third and fourth quarters
       of 2004, and the first and second quarters of 2005.

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



Go to Detailed Tables for Third Quarter 2005 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