Table 2. Absorption Rates for Unfurnished Apartments Completed by Rent, 
             for the United States and Regions: 1996
    
    (Privately financed, nonsubsidized, unfurnished, rental apartments in 
    buildings with five units or more .  Data regarding 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.)
    
    
                                                 Percent absorbed in:
                               Percent         3        6        9       12
                        Total  of total     months   months   months   months
    
        United States  191,300      100          72       88       95       98
    
    Less than $350       4,300        2          70       78       99      100
    $350 to $449        14,700        8          70       94       96       98
    $450 to $549        32,700       17          82       91       96       98
    $550 to $649        36,200       19          78       90       96       99
    $650 to $749        34,700       18          72       87       95       98
    $750 or more        68,800       36          69       86       94       97
    Median asking rent    $672       (X)        (X)      (X)      (X)      (X)
    
       Northeast         6,100      100          61       71       98      100
    Less than $350       1,000       17          19       19      100      100
    $350 to $449           100        1          69       89      100      100
    $450 to $549         1,100       17          73       74      100      100
    $550 to $649           900       14          49       61       96      100
    $650 to $749         1,400       22          55       83       93      100
    $750 or more         1,700       28          91       96       98       99
    Median asking rent    $650      (X)         (X)      (X)      (X)      (X)
    
       Midwest          37,200      100          77       90       94       97
    Less than $350         400        1          83      100      100      100
    $350 to $449         6,000       16          81       94       97       99
    $450 to $549        13,700       37          79       90       95       98
    $550 to $649         8,500       23          77       94       97       99
    $650 to $749         2,700        7          85       95       98       99
    $750 or more         5,900       16          65       76       83       87
    Median asking rent    $538      (X)         (X)      (X)      (X)      (X)
    
       South            96,900      100          69       87       94       98
    Less than $350       1,300        1          77       94       98       99
    $350 to $449         6,200        6          80       92       95       96
    $450 to $549        14,300       15          76       91       95       98
    $550 to $649        18,500       19          69       88       94       98
    $650 to $749        17,000       18          65       84       93       97
    $750 or more        39,600       41          67       85       95       98
    Median asking rent    $697      (X)         (X)      (X)      (X)      (X)
    
       West             51,100      100          75       91       97       99
    Less than $350       1,500        3          96       98      100      100
    $350 to $449         2,400        5          93       99      100      100
    $450 to $549         3,500        7          85       96       99      100
    $550 to $649         8,400       17          78       95       98       99
    $650 to $749        13,600       27          72       91       96       99
    $750 or more        21,600       42          70       88       96       99
    Median asking rent    $721      (X)         (X)      (X)      (X)      (X)
    
    X Not applicable.