U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



Fourth Quarter 2007


         Table 2. Characteristics of Unfurnished Apartments Completed During the

         Third Quarter of 2007 and of Those Rented Within 3 Months (Preliminary)



Not Seasonally Adjusted



(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 and percents are computed using unrounded data.)







                     Total                    Percent            Percent

                     unfurnished              of                 rented

                     apartments      90%      total     90%      within      90%

                     completed    C.I.(+/-)*  units   C.I.(+/-)* 3 months  C.I.(+/-)*



U.S. Total              26,300     3,830      100       (X)       53        4.4





Units renting for:

Less than $750           3,000     1,610       12       5.7       61       10.4

$750 to $849             2,700       880       10       3.4       60        7.5

$850 to $949             4,000       870       15       2.6       43        8.7

$950 to $1,049           2,900       730       11       2.8       52        8.2

$1,050 to $1,149         2,200       620        9       2.5       62        6.1

$1,150 or more          11,400     2,990       43       8.3       52        6.8

Median asking rent      $1,071       $72       (X)      (X)   $1,073        $63



Units with

 fewer than

 2 bedrooms             10,400     1,670       40       4.3       57        6.5

Less than $750           1.800       660        7       2.8       66        9.9

$750 to $849             1.400       490        5       1.9       65        8.6

$850 to $949             1,600       350        6       1.2       54        7.5

$950 to $1,049             700       120        3       0.5       49        9.3

$1,050 to $1,149         1,200       410        4       1.7       57        6.9

$1,150 or more           3,700     1,770       14       5.9       53       14.6

Median asking rent      $1,007       $77       (X)      (X)     $949        $68



Units with

 2 bedrooms

 or more                15,900     2,800       61       4.3       51        5.2

Less than $750           1,300     1,270        5       4.5       55       11.2

$750 to $849             1,300       540        5       2.1       56       12.5

$850 to $949             2,400       740        9       2.4       34       11.9

$950 to $1,049           2,300       730        9       2.8       53       10.4

$1,050 to $1,149         1,100       400        4       1.6       67        9.9

$1,150 to $1,249         1,400       330        4       1.2       51       14.1

$1,250 or more           6,700     1,380       26       3.6       52        6.9

Median asking rent      $1,121       $74       (X)      (X)   $1,139        $87



Units with:

0 bedrooms                 400       230        2       0.8       49       15.2

1 bedroom                9,900     1,490       38       3.8       58        6.3

2 bedrooms              13,400     2,530       51       4.5       50        5.2

3 bedrooms or more       2,500       460       10       1.6       54        7.6

  



* 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.

X Not applicable.







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




Go to Detailed Tables for Fourth Quarter 2007 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