Housing Vacancies and Homeownership (CPS/HVS)

Second Quarter 2000

UNITED STATES DEPARTMENT OF COMMERCE
NEWS

WASHINGTON, D.C. 20230

Robert R. Callis For Release 10:00 AM EDT, July 26, 2000 Linda B. Cavanaugh CB00-111 (301) 763-3199

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND HOMEOWNERSHIP

National vacancy rates in the second quarter 2000 were 8.0 percent in rental housing and 1.5 percent in homeowner housing, the Department of Commerce's Census Bureau announced today. The Census Bureau said that neither rate changed significantly from its corresponding rate in the second quarter of 1999. The homeowner vacancy rate was lower than the rate shown last quarter, while the rental vacancy rate showed no statistical change.

Table 1. Rental and Homeowner Vacancy Rates for the United States: 1982 to 2000 (in percent)

	Rental vacancy rate				Homeowner vacancy rate
Year	First Quarter	Second Quarter	Third Quarter	Fourth Quarter	First Quarter	Second Quarter	Third Quarter	Fourth Quarter

2000..... 1999..... 1998..... 1997..... 1996..... 1995..... 1994..... 1993^r.... 1993..... 1992..... 1991..... 1990..... 1989^r.... 1989..... 1988..... 1987..... 1986..... 1985..... 1984..... 1983..... 1982.....	7.9 8.2 7.7 7.5 7.9 7.4 7.5 7.8 7.9 7.4 7.5 7.5 7.5 7.3 8.0 7.4 6.9 6.3 5.6 5.7 5.3	8.0 8.1 8.0 7.9 7.8 7.7 7.4 7.6 7.6 7.7 7.3 7.0 7.4 7.3 7.7 7.5 7.3 6.2 5.5 5.5 5.1	8.2 8.2 7.9 8.0 7.7 7.2 7.0 7.1 7.3 7.6 7.2 7.6 7.3 7.8 8.1 7.5 6.8 6.0 5.8 5.3	7.9 7.8 7.7 7.7 7.7 7.4 6.9 6.9 7.1 7.3 7.2 7.1 6.8 7.3 7.8 7.7 6.7 6.3 5.5 5.5	1.6 1.8 1.7 1.7 1.6 1.5 1.4 1.4 1.4 1.5 1.7 1.7 1.7 1.5 1.6 1.7 1.5 1.8 1.6 1.4 1.4	1.5 1.6 1.7 1.6 1.5 1.6 1.4 1.4 1.4 1.6 1.8 1.7 1.7 1.6 1.6 1.7 1.7 1.9 1.7 1.5 1.6	1.6 1.7 1.5 1.7 1.5 1.4 1.4 1.4 1.6 1.8 1.7 1.9 1.8 1.6 1.7 1.6 1.8 1.7 1.6 1.5	1.6 1.8 1.7 1.7 1.6 1.6 1.4 1.4 1.5 1.6 1.7 1.8 1.6 1.6 1.6 1.6 1.6 1.7 1.6 1.6

^rRevised.

For rental housing, the vacancy rates were highest outside Metropolitan Areas (MAs), 10.1 percent, and lowest in the suburbs, 7.0 percent. The rental vacancy rates in all areas were not significantly different from their respective second quarter 1999 rates. The homeowner vacancy rate was lowest in the suburbs at 1.2 percent. None of the homeowner vacancy rates for areas changed significantly from their corresponding rates during the second quarter of 1999. Among regions, the rental vacancy rate was highest in the South at 10.5 percent. The rental vacancy rate in the Northeast, 5.8 percent, decreased from 7.0 percent in the second quarter of 1999. For other regions, the rental vacancy rates did not change significantly from their respective rates last year. The homeowner vacancy rate was highest in the South at 1.8 percent. None of the regions had homeowner vacancy rates which changed significantly from their respective rates last year.

Table 2. Rental and Homeowner Vacancy Rates By Area:
Second Quarter 2000 and 1999 (in percent)

	Rental vacancy rates				Homeowner vacancy rates
Area	Second Quarter 2000	Second Quarter 1999	Standard error on 2000 rate	Standard error on differ- ence	Second Quarter 2000	Second Quarter 1999	Standard error on 2000 rate	Standard error on differ- ence

United States........ Inside MAs......... In central cities Not in central cities (suburbs) Outside MAs...... Northeast........... Midwest............. South................. West..................	8.0 7.6 8.2 7.0 10.1 5.8 8.3 10.5 6.0	8.1 7.9 8.4 7.3 9.2 7.0 8.2 10.2 6.1	0.2 0.2 0.3 0.3 0.5 0.4 0.4 0.4 0.3	0.3 0.3 0.4 0.4 0.7 0.6 0.6 0.5 0.5	1.5 1.3 1.7 1.2 1.9 1.2 1.3 1.8 1.4	1.6 1.4 1.7 1.3 2.1 1.4 1.3 1.9 1.6	0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1	0.1 0.1 0.2 0.1 0.2 0.2 0.2 0.1 0.2

There were an estimated 119.5 million housing units in the United States in the second quarter of 2000. Approximately 105.3 million housing units were occupied, 70.8 million by owners and 34.5 million by renters. The number of owner-occupied units was higher than one year ago, while the number of renter-occupied units decreased from those reported one year ago. Of the 14.2 million vacant housing units, 10.7 million were for year-round use. Approximately 3.0 million of the year-round vacant units were for-rent, 1.1 million were for-sale-only, and the remaining 6.6 million were vacant for a variety of reasons.

Table 3. Estimates of the Total Housing Inventory for the United States:
Second Quarter 2000 and 1999
(Numbers in Thousands)

Type

Second
Quarter
2000

Second
Quarter
1999

Standard
error on
2000
Estimate

Standard
error on
difference

Percent of
total
(2000)

All housing units............

Occupied......................
Owner........................
Renter........................

Vacant..........................
Year-round.................
For rent...................
For sale only............
Other.......................

Seasonal.....................

119,481

105,296
70,758
34,538

14,185
10,653
3,040
1,063
6,550

3,532

119,306

104,826
69,820
35,006

14,480
11,024
3,134
1,123
6,767

3,456

233

244
243
197

135
118
64
38
94

69

330

346
344
279

191
168
92
55
133

98

100

88
59
29

12
9
3
1
5

3

During the second quarter of 2000, the homeownership rate was 67.2 percent. The homeownership rate was higher than the rate for the second quarter of 1999, but was not significantly different from the rate last quarter.

Table 4. Homeownership Rates for the United States: 1980 to 2000
(in percent)

Year	Homeownership Rates¹
Year	First Quarter	Second Quarter	Third Quarter	Fourth Quarter

2000.......................................... 1999.......................................... 1998.......................................... 1997.......................................... 1996.......................................... 1995.......................................... 1994.......................................... 1993^r......................................... 1993.......................................... 1992.......................................... 1991.......................................... 1990.......................................... 1989^r......................................... 1989......................................... 1988......................................... 1987......................................... 1986......................................... 1985......................................... 1984......................................... 1983......................................... 1982......................................... 1981......................................... 1980.........................................	67.1 66.7 65.9 65.4 65.1 64.2 63.8 63.7 64.2 64.0 63.9 64.0 63.9 63.9 63.7 63.8 63.6 64.1 64.6 64.7 64.8 65.6 65.5	67.2 66.6 66.0 65.7 65.4 64.7 63.8 63.9 64.4 63.9 63.9 63.7 63.8 63.9 63.7 63.8 63.8 64.1 64.6 64.7 64.9 65.3 65.5	67.0 66.8 66.0 65.6 65.0 64.1 64.2 64.7 64.3 64.2 64.0 64.1 64.0 64.0 64.2 63.8 63.9 64.6 64.8 64.9 65.6 65.8	66.9 66.4 65.7 65.4 65.1 64.2 64.2 64.6 64.4 64.2 64.1 63.8 63.8 63.8 64.1 63.9 63.5 64.1 64.4 64.5 65.2 65.5

¹Standard errors for quarterly homeownership rates for the
United States generally are 0.2 percent.
^rRevised

Table 4SA shows the seasonally adjusted homeownership rates for the United States from 1980 to the present. (Research has shown that seasonality for homeownership rates is present.) The seasonally adjusted second quarter homeownership rate, 67.3 percent, was higher than the rate for the second quarter of 1999, but was not significantly different from the rate last quarter.

Table 4SA. Homeownership Rates for the United States: 1980 to 2000
Seasonally Adjusted (in percent)

Year	Homeownership Rates² (Seasonally Adjusted)
Year	First Quarter	Second Quarter	Third Quarter	Fourth Quarter

2000.......................................... 1999.......................................... 1998.......................................... 1997.......................................... 1996.......................................... 1995.......................................... 1994.......................................... 1993^r......................................... 1993.......................................... 1992.......................................... 1991.......................................... 1990.......................................... 1989^r......................................... 1989......................................... 1988......................................... 1987......................................... 1986......................................... 1985......................................... 1984......................................... 1983......................................... 1982......................................... 1981......................................... 1980.........................................	67.1 66.7 66.0 65.5 65.2 64.4 64.0 63.8 (NA) 64.1 64.0 64.1 64.0 (NA) 63.8 63.9 63.7 64.1 64.6 64.7 64.8 65.6 65.5	67.3 66.7 66.1 65.7 65.4 64.8 63.9 64.0 (NA) 64.0 64.1 63.9 63.9 (NA) 63.8 63.9 63.8 64.1 64.6 64.7 64.9 65.4 65.6	66.8 66.6 65.8 65.4 64.8 63.9 64.0 (NA) 64.1 64.0 63.8 63.9 (NA) 63.9 64.1 63.7 63.8 64.5 64.6 64.7 65.4 65.6	67.0 66.5 65.8 65.4 65.1 64.1 64.1 (NA) 64.3 64.1 64.0 63.7 (NA) 63.8 64.1 63.9 63.6 64.2 64.5 64.6 65.3 65.6

²Standard errors for quarterly homeownership rates for the United States generally are 0.2 percent.
^rRevised.
(NA) Not Applicable. Only the revised series for 1989 and 1993 were used in calculating the seasonality adjustment.

     Homeownership rates in the second quarter of 2000 were highest
in the Midwest at 72.2 percent and lowest in the West at 61.9 percent.
Only the rate for the Midwest was significantly higher than the 1999 rate
for the second quarter.  None of the homeownership rates changed
significantly from the rates shown in the first quarter of 2000.

Table 5. Homeownership Rates for the United States and Regions:
1995 to 2000 (in percent)

Homeownership Rates³

Year/Quarter

United
States

Northeast

Midwest

South

West

2000
Second Quarter...............

First Quarter...............

1999
Fourth Quarter...............

Third Quarter................

Second Quarter................

First Quarter.................

1998
Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

67.2

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

63.4

63.3

63.2

63.6

62.8

62.7

62.0

63.4

62.7

62.4

72.2

72.2

72.5

72.1

71.2

71.5

71.7

70.3

70.6

69.2

69.5

69.1

69.3

68.9

69.2

69.0

68.8

68.4

68.2

61.9

61.3

60.6

60.8

61.3

61.0

60.4

61.1

60.3

60.1

1997
Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

1996
Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

1995
Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

65.7

66.0

65.7

65.4

65.6

65.4

65.1

65.0

64.7

64.2

62.7

63.0

62.4

61.6

62.3

62.8

62.3

61.4

61.6

62.2

62.3

61.9

70.4

70.7

70.3

70.6

70.8

70.7

70.5

70.4

70.1

68.5

67.9

67.8

68.2

68.1

67.8

67.6

67.5

67.2

67.5

66.6

66.5

66.1

59.8

59.9

59.0

58.9

59.2

59.8

58.9

59.0

59.1

59.8

58.9

³Standard errors for quarterly homeownership rates by region generally are 0.5 percent.

Homeownership rates for householders less than 35 years old increased from 39.1 percent in the second quarter 1999 to 40.2 percent in the second quarter 2000. Similarly, householders 35 to 44 years old also experienced an increase in the homeownership rate from 66.5 percent to 67.5 percent during the same period. The rates for the other age groups were not significantly different from those reported one year ago.

Table 6. Homeownership Rates by Age of Householder: 1995 to 2000
(in percent)

Year/Quarter

Homeownership Rates⁴

United
States

Less than
35 years

35 to 44
years

45 to 54
years

55 to 64
years

65 years
and over

2000
Second Quarter.......

First Quarter.......

1999
Fourth Quarter.......

Third Quarter........

Second Quarter........

First Quarter.........

1998
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

67.2

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

40.2

40.5

40.3

40.1

39.1

39.4

39.6

39.5

39.3

39.0

67.5

67.3

67.9

67.4

66.5

67.0

67.6

67.8

66.2

65.9

76.7

76.0

75.2

76.3

76.4

76.2

74.9

76.3

75.5

75.9

80.3

80.8

81.3

80.7

80.8

81.1

81.7

81.1

80.4

80.3

80.3

80.1

79.6

80.8

80.4

79.8

79.2

79.7

79.2

79.1

1997
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1996
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1995
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

65.7

66.0

65.7

65.4

65.6

65.4

65.1

65.0

64.7

64.2

38.7

38.9

38.6

39.1

39.0

39.3

38.8

39.1

38.7

37.7

65.9

66.5

66.3

65.5

66.3

65.5

64.6

65.5

65.4

65.1

64.9

75.7

76.3

75.6

75.5

75.6

75.9

75.5

75.2

75.4

75.2

74.9

80.3

80.1

80.3

79.6

80.1

79.7

80.0

80.2

79.5

79.3

79.9

79.4

79.1

79.2

79.1

79.2

78.6

78.9

79.1

78.7

78.1

77.5

⁴Standard errors for quarterly homeownership rates by age of householder generally are 0.4 percent.

     The homeownership rates by race and ethnicity of
householder ranged from 45.4 percent for Hispanic householders to
73.7 percent for White non-Hispanic householders.  The homeownership
rates for White householders, 70.9 percent, White non-Hispanic
householders, 73.7 percent, and Black householders, 46.7 percent,
were all higher than the respective rates for the second quarter of
1999. The rates for Other Race householders and Hispanic householders
showed no significant change from one year ago.

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1995 to 2000
(in percent)

Year/Quarter

Homeownership Rates⁵

U.S. Total

White,
total

White,
non-
Hispanic

Black,
total

Other
Race,
total

Hispanic⁶,
total

2000
Second Quarter.........

First Quarter.........

1999
Fourth Quarter.........

Third Quarter..........

Second Quarter.........

First Quarter..........

1998
Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter..........

1997
Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter..........

1996
Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter..........

1995
Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter..........

67.2

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

65.4

65.6

65.4

65.1

65.1

65.0

64.7

64.2

70.9

70.7

70.5

70.7

70.4

70.3

70.1

70.4

69.7

69.6

69.3

69.5

69.4

69.0

69.1

69.2

69.2

68.7

68.8

69.0

68.7

68.2

73.7

73.4

73.3

73.5

73.2

72.8

72.6

73.1

72.5

72.1

71.9

72.3

72.1

71.6

71.8

71.8

71.7

71.4

71.2

71.1

70.9

70.4

46.7

47.4

46.8

46.6

45.3

46.3

45.9

46.6

44.7

45.2

45.1

45.3

44.4

44.5

44.4

44.5

43.7

43.8

44.3

43.0

42.2

41.2

54.4

53.6

54.3

54.5

53.2

52.8

52.7

53.6

53.5

52.3

52.5

53.1

52.7

51.8

51.4

51.5

50.0

50.9

48.4

46.5

46.7

47.2

45.4

45.7

45.5

45.5

44.9

46.2

45.7

44.9

43.9

44.4

44.0

43.0

43.3

42.6

42.3

43.5

43.9

41.4

41.1

42.5

42.8

41.8

⁵Standard errors for quarterly homeownership rates by race and ethnicity of householder generally are 0.2 percent for White and White non-Hispanic householders, 0.5 percent for Black householders, 1.0 percent for Other Race householders, and 0.7 percent for Hispanic householders.
⁶Hispanics may be of any race.

The homeownership rate for households with incomes less than the median family income in the second quarter of 2000 was 50.8 percent, while the rate for households with incomes greater than or equal to the median family income was 81.8 percent. Both rates were statistically unchanged from the corresponding second quarter 1999 rates.

Table 8. Homeownership Rates by Family Income: 1995 to 2000(in percent)

Homeownership Rates⁷

Year/Quarter

United States

Households with family income greater than or equal to the median family income⁸

Households with family income less than the median family income

2000
First Quarter................

Second Quarter................

1999
Fourth Quarter................

Third Quarter.................

Second Quarter................

First Quarter.................

1998
Fourth Quarter.............

Third Quarter...............

Second Quarter............

First Quarter.................

67.2

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

81.8

81.4

81.6

81.7

81.5

81.1

80.7

81.6

80.7

50.8

51.4

51.2

51.4

50.8

51.2

51.1

50.0

50.2

1997
Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

1996
Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

1995
Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

65.7

66.0

65.7

65.4

65.4

65.6

65.4

65.1

65.1

65.0

64.7

64.2

80.5

80.9

80.8

79.7

80.1

80.5

80.3

79.7

79.8

79.6

79.5

79.1

50.0

50.2

50.0

49.9

49.8

49.4

49.2

49.4

49.4

49.0

48.6

48.1

⁷Standard errors for quarterly homeownership rates by family income generally are 0.3 percent.
⁸Based on families or primary individuals reporting income.

Note: This press release along with more detailed data are available on the Internet. Our Internet address is: www.census.gov/hhes/www/hvs.html

     The estimates in this release are based on a sample survey and
therefore are subject to both sampling and non-sampling error.  Sampling
error is a result of not surveying the entire population.  Non-sampling
error occurs because accurate information cannot always be obtained.
The standard errors provided in the tables are primarily measures of
sampling error.

Standard errors are used to: 1) measure the accuracy of the survey estimates, and 2) draw inferences from the survey data. For example, the standard error on the estimated rental vacancy rate of 8.0 percent is 0.2 percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 7.7 percent to 8.3 percent; i.e., the interval 8.0 + (1.6 x 0.2) percentage points. Thus, one can say with about 90-percent confidence that the average rental vacancy rate derived from all possible samples is included in this confidence interval. Statements about differences are made only when the 90-percent confidence interval on the estimated difference does not include zero.
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Second Quarter 2000