U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



Third Quarter 1997

Table 9. Characteristics of Unfurnished Apartments Completed in the
         Last Four Quarters and Reported as Rented and Remaining
         for Rent in the Third Quarter of 1997

(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  3rd quarter  Standard
                        quarters     error*        1997     error*

   Total                 179,700     5,720      115,100     4,780

  Asking rent:
Less than $450            15,700     2,570       10,700       990
$450 to $549              23,100     2,410       17,500     2,320
$550 to $649              30,700     2,370       20,300     2,120
$650 to $749              35,000     2,350       21,500     1,810
$750 or more              75,100     3,020       45,100     2,960
Median asking rent          $708       $12         $692       $16

  Units with:
Fewer than 2 bedrooms     60,100     3,020       39,200     2,620
2 bedrooms                92,000     4,380       57,300     3,490
3 bedrooms or more        27,600     2,090       18,600     1,960



                                             Apartments
                                              remaining
                      Apartments               for rent
                       rented in              at end of
                      3rd quarter  Standard  3rd quarter  Standard
                            1997     error*        1997     error*


   Total                  48,000     3,050       16,600     1,690

  Asking rent:
Less than $450             4,200     1,560          800       260
$450 to $549               4,400       930        1,200       360
$550 to $649               7,800     1,260        2,600       530
$650 to $749              10,900     1,730        2,700       350
$750 or more              20,700     1,190        9,400     1,500
Median asking rent          $719       $20         $750+      $46

  Units with:
Fewer than 2 bedrooms     14,400     1,070        6,500     1,480
2 bedrooms                26,400     2,710        8,300       720
3 bedrooms or more         7,100       920        1,900       390

* One standard error (68-percent confidence interval)
 Note: These data are for completions in the third and fourth
       quarters of 1996 and the first and second quarters of 1997.



Go to Detailed Tables for Third Quarter 1997 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