Survey of Market Absorption of Apartments (SOMA)
About the SOMA Survey - Fourth Quarter 2007
The Survey of Market Absorption (SOMA) measures how soon privately
financed, nonsubsidized, unfurnished units in buildings with five or more
units are rented or sold (absorbed) after completion. In addition, the
Survey collects data on characteristics of the units such as number of
bedrooms, asking rent, and asking price.
All statistics from the SOMA refer to apartments in newly
constructed buildings with five units or more. Absorption rates reflect
the first time an apartment is rented after completion or the first time
a condominium or cooperative apartment is sold after completion. If
apartments initially intended to be sold as condominium or cooperative
units are, instead, offered by the builder or building owner for rent they
are counted as rental apartments. Units categorized as federally subsidized
are those built under two programs of the Department of Housing and Urban
Development (Section 8, Low Income Housing Assistance, and Section 202,
Citizens Housing Direct Loans) and all units in buildings containing
apartments in the Federal Housing Administration (FHA) rent supplement program.
The data on privately financed units include privately owned housing subsidized by
state and local governments. Time-share units, continuing care retirement units,
and turnkey units (privately built for and sold to local public housing authorities
after completion) are outside the scope of the survey.
Tables 1 through 4 and Table 9 provide information about privately financed,
nonsubsidized, unfurnished, rental apartments. Table 5 provides information about
privately financed, nonsubsidized, condominium and cooperative apartments,
while Tables 6 through 8 and Table 10 provide information about condominium
apartments only. Table 11 summarizes the totals for all types of newly
constructed apartments in buildings with five units or more.
Contact George Boyd at 301-763-3199 or mail to firstname.lastname@example.org
for further information on the Survey of Market Absorption of Apartments Data.
Source: U.S. Census Bureau, Social, Economic, and Housing Statistics Division