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Housing Vacancies and Homeownership (CPS/HVS)
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Third Quarter 2000
UNITED STATES DEPARTMENT OF COMMERCEStandard 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 8.2 percent is 0.2 percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 7.9 percent to 8.5 percent; i.e., the interval 8.2 + (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.
NEWS WASHINGTON, D.C. 20230
Robert R. Callis For Release 10:00 AM EDT, October 26, 2000 Linda B. Cavanaugh CB00-174
(301) 763-3199
CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND HOMEOWNERSHIP
National vacancy rates in the third quarter 2000 were 8.2 percent in rental housing and 1.6 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 third quarter of 1999. The homeowner vacancy rate was higher 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)rRevised.
Rental vacancy rate
Homeowner vacancy rate
Year
First
QuarterSecond
QuarterThird
QuarterFourth
QuarterFirst
QuarterSecond
QuarterThird
QuarterFourth
Quarter2000.....
1999.....
1998.....
1997.....
1996.....
1995.....
1994.....
1993r....
1993.....
1992.....
1991.....
1990.....
1989r....
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
5.38.0
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
5.18.2
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
5.51.6
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
1.61.6
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
For rental housing, the vacancy rate was lowest in the suburbs, 7.5 percent. While the rental vacancy rate outside Metropolitan Areas (MAs), dropped from 10.8 percent to 9.1 percent, the rental vacancy rate for the suburbs increased from 6.8 percent to 7.5 percent since the third quarter 1999. The homeowner vacancy rate was highest outside MAs, 2.4 percent, and lowest in the suburbs at 1.2 percent. None of the homeowner vacancy rates for areas changed significantly from their corresponding rates during the third quarter of 1999. Among regions, the Northeast, 5.8 percent, and West, 5.7 percent, had lower rental vacancy rates than the other two regions, the Midwest, 9.6 percent, and the South, 10.6 percent. The 5.8 percent was not significantly different from the 5.7 percent, nor was the 9.6 percent significantly different from the 10.6 percent. None of the rental vacancy rates for regions changed significantly from their respective rates last year. The homeowner vacancy rate was highest in the South at 2.0 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:
Third Quarter 2000 and 1999 (in percent)There were an estimated 119.8 million housing units in the United States in the third quarter of 2000. Approximately 105.8 million housing units were occupied, 71.6 million by owners and 34.2 million by renters. The number of owner-occupied units was higher than one year ago, while the number of renter -occupied units decreased from that reported one year ago. Of the 14.0 million vacant housing units, 10.6 million were for year-round use. Approximately 3.1 million of the year- round vacant units were for-rent, 1.2 million were for-sale-only, and the remaining 6.3 million were vacant for a variety of reasons. Table 3. Estimates of the Total Housing Inventory for the United States: Third Quarter 2000 and 1999
Rental vacancy rates Homeowner vacancy rates Area Third
Quarter
2000Third
Quarter
1999Standard
error on
2000
rateStandard
error on
differ-
enceThird
Quarter
2000Third
Quarter
1999Standard
error on
2000
rateStandard
error on
differ-
enceUnited States........
Inside MAs.........
In central cities
Not in central
cities (suburbs)
Outside MAs......
Northeast...........
Midwest.............
South.................
West..................8.2
8.0
8.5
7.5
9.1
5.8
9.6
10.6
5.78.2
7.8
8.6
6.8
10.8
6.3
8.9
10.4
6.30.2
0.2
0.3
0.3
0.5
0.4
0.5
0.4
0.30.3
0.3
0.4
0.4
0.8
0.6
0.7
0.5
0.51.6
1.4
1.8
1.2
2.4
1.2
1.3
2.0
1.51.6
1.4
1.7
1.3
2.2
1.4
1.3
1.8
1.70.1
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
(Numbers in Thousands)During the third quarter of 2000, the homeownership rate was 67.7 percent. The homeownership rate was higher than the rate last quarter and higher than the rate for the third quarter of 1999. The third quarter 2000 rate was the highest level of homeownership recorded in the survey, which began in 1956. Table 4. Homeownership Rates for the United States: 1980 to 2000
Type Third
Quarter
2000Third
Quarter
1999Standard
error on
2000
EstimateStandard
error on
differencePercent of
total
(2000)All housing units............
Occupied......................
Owner........................
Renter........................
Vacant..........................
Year-round.................
For rent...................
For sale only............
Other.......................
Seasonal.....................119,785
105,800
71,637
34,163
13,985
10,597
3,098
1,180
6,319
3,388119,595
105,140
70,476
34,664
14,455
11,041
3,163
1,136
6,742
3,414233
244
244
196
134
118
65
40
92
68330
345
344
278
191
168
92
57
132
96100
88
60
29
12
9
3
1
5
3
(in percent)1Standard errors for quarterly homeownership rates for the
Year Homeownership Rates1 First
QuarterSecond
QuarterThird
QuarterFourth
Quarter2000..........................................
1999..........................................
1998..........................................
1997..........................................
1996..........................................
1995..........................................
1994..........................................
1993r.........................................
1993..........................................
1992..........................................
1991..........................................
1990..........................................
1989r.........................................
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
65.567.2
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
65.567.7
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
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 third quarter homeownership rate, 67.5 percent, was higher than the rate for the third 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)
2Standard errors for quarterly homeownership rates for the United States generally are 0.2 percent.
Year Homeownership Rates2 (Seasonally Adjusted) First
Quarter
Second
QuarterThird
QuarterFourth
Quarter2000..........................................
1999..........................................
1998..........................................
1997..........................................
1996..........................................
1995..........................................
1994..........................................
1993r.........................................
1993..........................................
1992..........................................
1991..........................................
1990..........................................
1989r.........................................
1989.........................................
1988.........................................
1987.........................................
1986.........................................
1985.........................................
1984.........................................
1983.........................................
1982.........................................
1981.........................................
1980.........................................67.1
r 66.8
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
65.567.3
66.7
66.1
r65.8
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
65.667.5
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
65.667.0
66.5
r65.7
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
rRevised.
(NA) Not Applicable. Only the revised series for 1989 and 1993 were used in calculating the seasonality adjustment.
Homeownership rates in the third quarter of 2000 were highest in the Midwest at 72.9 percent and lowest in the West at 62.2 percent, although the rate for the West increased from 60.8 percent one year ago. None of the homeownership rates in other regions changed significantly from the rates shown in the third quarter of 1999. Table 5. Homeownership Rates for the United States and Regions:
1995 to 2000 (in percent)3Standard errors for quarterly homeownership rates by region generally are 0.5 percent.
Homeownership Rates3
Year/QuarterUnited
StatesNortheast Midwest South West 2000
Third Quarter................
Second Quarter...............
First Quarter...............
1999
Fourth Quarter...............
Third Quarter................
Second Quarter................
First Quarter.................
1998
Fourth Quarter..............
Third Quarter................
Second Quarter.............
First Quarter..................
67.7
67.2
67.1
66.9
67.0
66.6
66.7
66.4
66.8
66.0
65.9
63.9
63.4
63.3
63.2
63.6
62.8
62.7
62.0
63.4
62.7
62.4
72.9
72.2
72.2
72.5
72.1
71.2
71.2
71.5
71.7
70.3
70.6
69.7
69.2
69.5
69.1
69.3
68.9
69.2
69.0
68.8
68.4
68.2
62.2
61.9
61.3
60.6
60.8
61.3
61.0
60.4
61.1
60.3
60.11997
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
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
70.1
68.5
67.9
67.8
68.2
68.1
67.8
67.6
67.5
67.2
67.5
67.5
66.6
66.5
66.1
59.8
59.8
59.9
59.0
58.9
59.2
59.8
58.9
59.0
59.1
59.8
58.9
Homeownership rates for householders less than 35 years old increased from 40.1 percent in the third quarter 1999 to 41.1 percent in the third quarter 2000. Similarly, householders 35 to 44 years old also experienced an increase in the homeownership rate from 67.4 percent to 68.4 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)
4Standard errors for quarterly homeownership rates by age of householder generally are 0.4 percent.
Year/Quarter Homeownership Rates4 United
StatesLess than
35 years35 to 44
years45 to 54
years55 to 64
years65 years
and over
2000
Third Quarter........
Second Quarter.......
First Quarter.......
1999
Fourth Quarter.......
Third Quarter........
Second Quarter........
First Quarter.........
1998
Fourth Quarter......
Third Quarter........
Second Quarter.....
First Quarter.........
67.7
67.2
67.1
66.9
67.0
66.6
66.7
66.4
66.8
66.0
65.9
41.1
40.2
40.5
40.3
40.1
39.1
39.4
39.6
39.5
39.3
39.0
68.4
67.5
67.3
67.9
67.4
66.5
67.0
67.6
67.8
66.2
65.9
76.8
76.7
76.0
75.2
76.3
76.4
76.2
74.9
76.3
75.5
75.9
80.1
80.3
80.8
81.3
80.7
80.8
81.1
81.7
81.1
80.4
80.3
80.7
80.3
80.1
79.6
80.8
80.4
79.8
79.2
79.7
79.2
79.11997
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
38.7
38.9
38.6
38.6
39.1
39.0
39.3
38.8
39.1
39.1
38.7
37.7
65.9
66.5
66.3
65.5
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
75.5
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
79.2
78.6
78.9
79.1
78.7
78.1
78.1
77.5
The homeownership rates by race and ethnicity of householder ranged from 46.7 percent for Hispanic householders to 74.3 percent for White non-Hispanic householders. The homeownership rates for White householders, 71.5 percent, and White non- Hispanic householders, 74.3 percent, were higher than the respective rates for the third quarter of 1999. The rates for Black householders, 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)
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.
Year/Quarter Homeownership Rates5 U.S. Total
White,
totalWhite,
non-
HispanicBlack,
totalOther
Race,
totalHispanic6,
total2000
Third Quarter..........
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..........
67.7
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
71.5
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
74.3
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
46.8
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
53.9
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
46.7
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
6Hispanics may be of any race.
The homeownership rate for households with incomes less than the median family income in the third quarter of 2000, at 52.2 percent, was higher than the corresponding rate last year. The rate for households with incomes greater than or equal to the median family income, 81.7 percent, was statistically unchanged from the third quarter 1999 rate. Table 8. Homeownership Rates by Family Income: 1995 to 2000(in percent)
7Standard errors for quarterly homeownership rates by family income generally are 0.3 percent.
Homeownership Rates7
Year/QuarterUnited 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
Third Quarter.................
Second Quarter................
First Quarter................
1999
Fourth Quarter................
Third Quarter.................
Second Quarter................
First Quarter.................
1998
Fourth Quarter.............
Third Quarter...............
Second Quarter............
First Quarter.................
67.7
67.2
67.1
66.9
67.0
66.6
66.7
66.4
66.8
66.0
65.9
81.7
81.8
81.4
81.6
81.7
81.5
81.1
80.7
81.6
80.7
80.7
52.2
50.8
51.4
51.2
51.4
50.8
51.2
51.1
51.1
50.0
50.21997
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
8Based on families or primary individuals reporting income.
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.
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
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