U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



Fourth Quarter 2007


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 2007



(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   4th quarter    (number of

                       quarters    apartments)  2007           apartments)



   Total                 113,400    10,120       65,100          6,450



  Asking rent:

Less than $750            18,100     5,280       10,800          2,870

$750 to $849              14,200     3,570        9,500          2,520

$850 to $949              15,600     2,570        8,900          1,870

$950 to $1,049            12,800     1,750        7,500          1,350

$1,150 to $1,149           9,800     1,470        5,600          1,030

$1,150 or more            42,800     4,850       22,700          2,510

Median asking rent        $1,018       $49         $993            $56





  Units with:

Fewer than 2 bedrooms     43,700     4,640       25,900          3,250

2 bedrooms                57,500     6,000       31,700          3,360

3 bedrooms or more        12,100     1,980        7,500          1,650



                                                       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 4th        (number of      of 4th           (number of

                       quarter 2007    apartments)     quarter 2007     apartments)





   Total                  24,600        2,840            23,800           3,380



  Asking rent:

Less than $750             4,400        1,850             2,900           1,390

$750 to $849               2,700          740             2,000             700

$850 to $949               3,000          400             3,800           1,090

$950 to $1,049             2,400          410             2,800             680

$1,050 to $1,149           2,300          520             2,000             350

$1,050 or more             9,800        2,150            10,300           1,830

Median asking rent        $1,045          $66            $1,067             $61



  Units with:

Fewer than 2 bedrooms      9,600        1,210             8,200           1,550

2 bedrooms                12,600        2,020            13,300           2,190

3 bedrooms or more         2,400          320             2,300             400





*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 fourth quarter of

       2006, and the first, second, and third quarters of 2007.



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