U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



Fourth 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 Fourth 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     4th quarter     Standard
                       quarters           error*     2003              error*

    Total               177,300           7,660        104,100          5,950

  Asking rent:
Less than $650           26,400           3,600         16,500          2,610
$650 to $749             25,400           3,690         15,500          3,610
$750 to $849             23,900           2,380         14,300          2,160
$850 to $949             15,700           1,360          8,900            950
$950 to $1,049           14,000           1,670          7,700            790
$1,050 or more           71,800           5,430         41,200          4,390
Median asking rent         $932             $25           $914            $28


  Units with:
Fewer than 2 bedrooms    69,300           4,030         42,100          3,050
2 bedrooms               88,000           4,440         50,700          4,170
3 bedrooms or more       20,000           1,980         11,300            980

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


   Total                 41,900           3,080         31,300          2,930

  Asking rent:
Less than $650            7,100           1,370          2,800            580
$650 to $749              6,200             880          3,700            590
$750 to $849              4,900             510          4,700          1,030
$850 to $949              3,600             410          3,200            620
$950 to $1,049            3,900             890          2,400            400
$1,050 or more           16,200           1,760         14,500          2,050
Median asking rent         $926             $31         $1,000            $36

  Units with:
Fewer than 2 bedrooms    15,500           1,470         11,700          1,250
2 bedrooms               21,100           1,790         16,200          1,510
3 bedrooms or more        5,200           1,030          3,500            690


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


Go to Detailed Tables for Fourth 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