U.S. Department of Commerce

Housing Vacancies and Homeownership (CPS/HVS)

Skip top of page navigation
You are here: Census.govPeople and HouseholdsHousing Vacancies and Homeownership (CPS/HVS) MainData › › Fourth Quarter 1998

Fourth Quarter 1998

UNITED STATES
DEPARTMENT OF                     
COMMERCE 

NEWS

WASHINGTON, D.C. 20230


Robert R. Callis For Release 10:00 AM EDT, January 27, 1999 Linda B. Cavanaugh CB99-13 (301) 763-3199

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND HOMEOWNERSHIP

(The numbers in parentheses denote the 90-percent confidence intervals.)

National vacancy rates in the fourth quarter 1998 were 7.8 (+ 0.3) percent in rental housing and 1.8 (+ 0.1) percent in homeowner housing, the Department of Commerce's Census Bureau announced today. The Census Bureau said that the rental vacancy rate was lower than the rate last quarter, but not significantly different from the rate in the fourth quarter of 1997. The homeowner vacancy rate showed no significant change from the rate last quarter, or from the rate in the fourth quarter of 1997.

Table 1. Rental and Homeowner Vacancy Rates for the United States: 1982 to 1998 (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

1998.....

1997.....

1996.....

1995.....

1994.....

1993r....

1993.....

1992.....

1991.....

1990.....

1989r....

1989.....

1988.....

1987.....

1986.....

1985.....

1984.....

1983.....

1982.....

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

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

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

7.8

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

1.7

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

1.7

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

1.7

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

1.8

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 in central cities and outside Metropolitan Areas (MAs), 8.0 and 9.3 percent respectively, were higher than in the suburbs, 6.9 percent. The rental vacancy rates in central cities, in the suburbs, and outside MAs were not significantly different from one year ago.


For homeowner housing, the vacancy rates in central cities and outside MAs, 2.3 percent and 1.9 percent respectively, were higher than in the suburbs, 1.5 percent. The homeowner vacancy rate outside MAs was lower than one year ago, while rates in central cities and in the suburbs were not significantly different.


Among regions, the rental vacancy rate was highest in the South at 9.5 percent. The rental vacancy rate in the Northeast at 6.1 percent, was lower than the rate last quarter, while the other regions did not change significantly.


The homeowner vacancy rate was highest in the South at 2.1 percent. There were no significant changes in the regional homeowner vacancy rates from one year ago.


Table 2. Rental and Homeowner Vacancy Rates By Area:

Fourth Quarter 1998 and 1997 (in percent)

Rental vacancy rates Homeowner vacancy rates
Area

Fourth
Quarter
1998

Fourth
Quarter
1997
Standard
error on
1998
rate
Standard
error on
differ-
ence


Fourth
Quarter
1998


Fourth
Quarter
1997
Standard
error on
1998
rate
Standard
error on
differ-
ence
United States........

Inside MAs.........

In central cities


Not in central
cities (suburbs)

Outside MAs......

Northeast...........

Midwest.............

South.................

West..................

7.8

7.5

8.0

6.9

9.3

6.1

8.0

9.5

6.6

7.7

7.5

7.9

7.1

8.6

6.9

7.3

9.3

6.5

0.2

0.2

0.3

0.3

0.5

0.4

0.4

0.3

0.3

0.3

0.3

0.4

0.4

0.7

0.6

0.6

0.5

0.5

1.8

1.7

2.3

1.5

1.9

1.3

1.5

2.1

1.8

1.7

1.6

2.0

1.4

2.2

1.6

1.3

2.1

1.7

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 117.6 million housing units in the United States in the fourth quarter of 1998. Approximately 104.0 million housing units were occupied, 69.1 million by owners and 34.9 million by renters. The number of owner-occupied units was higher than one year ago, while there was no significant change in renter-occupied units from one year ago. Of the 13.6 million vacant housing units, 10.5 million were for year-round use. Approximately 3.0 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:

Fourth Quarter 1998 and 1997

(Numbers in Thousands)

Type Fourth Quarter
1998

Fourth Quarter
1997
Standard
error on
1998 Estimate
Standard
error on
difference
Percent of
total
(1998)
All housing units.............

Occupied......................

Owner........................

Renter........................

Vacant..........................

Year-round.................

For rent...................

For sale only............

Other.......................

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

117,589



104,035

69,097

34,938

13,554

10,514

2,978

1,242

6,294

3,040

115,892

102,624

67,424

35,200

13,268

10,078

2,966

1,187

5,925

3,190

235

245

242

197

132

117

64

41

92

64

334

347

342

280

186

164

90

58

128

92

100

88

59

30

12

9

3

1

5

3

During the fourth quarter of 1998, the homeownership rate was 66.4 (+0.3) percent. The homeownership rate was higher than the rate for the fourth quarter of 1997, but not significantly different from the rate last quarter.

Table 4. Homeownership Rates for the United States: 1980 to 1998

(in percent)



Year
Homeownership Rates1
First
Quarter

Second Quarter
Third Quarter Fourth Quarter
1998..........................................

1997..........................................

1996..........................................

1995..........................................

1994..........................................

1993r.........................................

1993..........................................

1992..........................................

1991..........................................

1990..........................................

1989r.........................................

1989.........................................

1988.........................................

1987.........................................

1986.........................................

1985.........................................

1984.........................................

1983.........................................

1982.........................................

1981.........................................

1980.........................................

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

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

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

66.4

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 for the United States. For information on the seasonality research, contact Linda B. Cavanaugh at (301) 763-3199. The seasonally adjusted fourth quarter homeownership rate was higher than the rate for the fourth quarter of 1997, but not significantly different from the rate last quarter.

Table 4SA. Homeownership Rates for the United States: 1980 to 1998

Seasonally Adjusted (in percent)


Year Homeownership Rates1 (Seasonally Adjusted)

First
Quarter

Second Quarter
Third Quarter Fourth Quarter
1998..........................................

1997..........................................

1996..........................................

1995..........................................

1994..........................................

1993r.........................................

1993..........................................

1992..........................................

1991..........................................

1990..........................................

1989r.........................................

1989.........................................

1988.........................................

1987.........................................

1986.........................................

1985.........................................

1984.........................................

1983.........................................

1982.........................................

1981.........................................

1980.........................................

r66.0

65.6

65.3

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

66.0

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

66.5

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

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

1Standard 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 fourth quarter of 1998 were highest in the Midwest and the South at 71.5 percent and 69.0 percent respectively. The homeownership rates for the Midwest and South regions were higher than the respective rates one year ago, while rates in the Northeast and West did not change significantly.

Table 5. Homeownership Rates for the United States and Regions:

1994 to 1998 (in percent)

Homeownership Rates2

Year/Quarter
United States Northeast Midwest South West
1998

Fourth Quarter................

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

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

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

66.4 66.8

66.0

65.9

62.0 63.4

62.7

62.4

71.5 71.7

70.3

70.6

69.0 68.8

68.4

68.2

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.............



1994

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

64.2

64.1

63.8

63.8

62.7

63.0

62.4

61.6

62.3

62.8

62.3

61.4

61.6

62.2

62.3

61.9

61.4

61.4

61.3

61.7

70.4

70.7

70.3

70.6

70.8

70.7

70.5

70.4

70.1

70.1

68.5

67.9

68.6

67.9

67.5

66.8

67.8

68.2

68.1

67.8

67.6

67.5

67.2

67.5

67.5

66.6

66.5

66.1

65.7

66.0

65.2

65.6

59.8

59.8

59.9

59.0

58.9

59.2

59.8

58.9

59.0

59.1

59.8

58.9

59.6

59.0

59.7

59.5

2Standard errors for quarterly homeownership rates by region generally are 0.4 percent.

Homeownership rates by age of householder ranged from 39.6 percent for householders less than 35 years old to 81.7 percent for householders 55 to 64 years old in the fourth quarter of 1998. The rates for householders less than 35 years, 35 to 44 and those 55 to 64 were higher than the rates one year ago, while rates for other age categories showed no significant change.

Table 6. Homeownership Rates by Age of Householder: 1994 to 1998

(in percent)

Year/Quarter Homeownership Rates3
United States Less than
35 years
35 to 44
years
45 to 54
years
55 to 64
years
65 years
and over

1998

Fourth Quarter........

Third Quarter........

Second Quarter.....

First Quarter.........

66.4 66.8

66.0

65.9

39.6 39.5

39.3

39.0

67.6 67.8

66.2

65.9

74.9 76.3

75.5

75.9

81.7 81.1

80.4

80.3

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.........

1994

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

64.2

64.1

63.8

63.8

38.7

38.9

38.6

38.6

39.1

39.0

39.3

38.8

39.1

39.1

38.7

37.7

38.0

37.5

36.8

37.1

65.9

66.5

66.3

65.5

65.5

66.3

65.5

64.6

65.5

65.4

65.1

64.9

64.7

64.3

64.6

64.4

75.7

76.3

75.6

75.5

75.6

75.9

75.5

75.5

75.2

75.4

75.2

74.9

74.9

75.5

75.2

75.0

80.3

80.1

80.3

79.6

80.1

79.7

80.0

80.2

79.5

79.3

79.9

79.4

79.2

79.4

79.1

79.3

79.1

79.2

79.1

79.2

79.2

78.6

78.9

79.1

78.7

78.1

78.1

77.5

77.7

77.2

77.2

77.4

3Standard errors for quarterly homeownership rates by age of householder generally are 0.4 percent.

The homeownership rate remained highest for White non-Hispanic householders at 72.6 percent. The rates for homeownership by race or ethnicity for White, White non-Hispanic, and Hispanic increased significantly from the rates one year ago.

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1994 to 1998

(in percent)

Homeownership Rates4

Year/Quarter U.S
total

White,
total
White
non-
Hispanic

Black,
total
Other
Race,
total

Hispanic5,
total

1998

Fourth Quarter........

Third Quarter........

Second Quarter.....

First Quarter.........



66.4

66.8

66.0

65.9

70.1 70.4

69.7

69.6

72.6 73.1

72.5

72.1

45.9 46.6

44.7

45.2

52.7 53.6

53.5

52.3

45.7 44.9

43.9

44.4

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.........

1994

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

64.2

64.1

63.8

63.8



69.3

69.5

69.4

69.0

69.1

69.2

69.2

68.7

68.8

69.0

68.7

68.2

68.0

67.8

67.6

67.4



71.9

72.3

72.1

71.6

71.8

71.8

71.7

71.4

71.2

71.1

70.9

70.4

70.2

70.0

69.9

69.8



45.1

45.3

44.4

44.5

44.4

44.5

43.7

43.8

44.3

43.0

42.2

41.2

42.6

42.7

41.8

42.1



52.5

53.1

52.7

51.8

51.4

51.5

50.0

50.9

48.4

46.5

46.7

47.2

47.6

46.9

46.3

50.1



44.0

43.0

43.3

42.6

42.3

43.5

43.9

41.4

41.1

42.5

42.8

41.8

42.2

41.4

41.1

40.3

4Standard 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 for Black householders, 1.0 percent for Other Race householders, and 0.7 for Hispanic householders.

5Hispanics may be of any race.

The homeownership rate for households with incomes less than the median family income in the fourth quarter of 1998 was 51.1 percent, which was higher than the rate one year ago. The rate for households with incomes greater than or equal to the median family income, at 80.7 percent, was not significantly different from the rate last year.

Table 8. Homeownership Rates by Family Income: 1994 to 1998 (in percent)

Homeownership Rates6

Year/Quarter
United States Households with family income greater than or equal to the median family income7 Households with family income less than the median family income
1998

Fourth Quarter...............

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

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

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

66.4 66.8

66.0

65.9

80.7 81.6

80.7

80.7

51.1 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..................

1994

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

64.2

64.1

63.8

63.8





80.5

80.9

80.8

79.7

80.1

80.5

80.3

79.7

79.8

79.6

79.5

79.1

78.8

78.3

78.4

78.5





50.0

50.2

50.0

49.9

49.8

49.4

49.2

49.4

49.4

49.0

48.6

48.1

48.6

48.9

48.0

48.1

6Standard errors for quarterly homeownership rates by family income generally are 0.3 percent.

7Based 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: http://www.census.gov/housing/hvs/

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 7.8 percent is 0.2 percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 7.5 to 8.1; i.e., the interval 7.8 + (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.


Go to Housing Vacancies and Homeownership: Fourth Quarter 1998

Source: U.S. Census Bureau | Housing Vacancies and Homeownership (CPS/HVS) |  Last Revised: 2012-09-25T14:34:02.646-04:00