U.S. Census Bureau 1

U.S. Department of Commerce

Economics and Statistics Administration

U.S. CENSUS BUREAU

H131/00-A

Characteristics of Apartments

Completed: Annual 2000

Current

Housing

Reports

1Details may not sum to totals because of rounding.

Questions regarding these data may be directed to Housing and Household Economic Statistics Division, telephone: 301-457-3199.

For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.

U.S. Department of Housing

and Urban Development

INTRODUCTION

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 such as

number of bedrooms, asking rent, and asking

price.

HIGHLIGHTS1

• Preliminary estimates from the Survey of

Market Absorption show that during 2000,

a total of 226,100 privately financed,

nonsubsidized, unfurnished, rental apartments in buildings of five units or more

were completed in permit-issuing areas in

the United States. This total does not differ

significantly from the estimated 225,900

rental completions in 1999, nor does it

differ significantly from the 209,900 such

units completed in 1998. The number of

unfurnished rental apartments completed in

these three years were the highest since

1990 (see Table 8).

• The majority (56 percent) of these new

units were built in the South, followed by

the West with 20 percent and the Midwest

with 18 percent (the latter two are not

significantly different). The Northeast

(7 percent) had fewer completions than

any other region (see Table 1).

• Two-bedroom units were the predominant

size built, accounting for about 51 percent

of newly constructed rental apartments,

compared with 34 percent for one-bedroom

units. Larger apartments, those with three or

more bedrooms ranked third at 12 percent,

while efficiencies (no bedrooms) accounted

for only 3 percent of rental completions. This

pattern is similar to the one observed in 1999.

• The median monthly asking rent for all

unfurnished rental apartments completed in

2000 was $839, which was $48 higher than

$791 median rent for rental apartments

completed in 1999. However, the 2000

median did not differ significantly from the

1999 inflation-adjusted median asking rent

of $818 (see Table 2).

• In 2000, 37 percent of unfurnished rental

apartments completed had an asking rent of

$950 or more. Units renting for $650 to

$749 (16 percent) and from $750 to $849

(15 percent) were next highest in terms of

completions, but did not differ significantly

from each other. The asking rent ranges

$550 to $649 and $850 to $949 each had

12 percent of new rental completions. Only

9 percent of 2000 completions had an asking

rent below $550, constituting the smallest

category of rental completions. The 3-month

absorption rates for all of these rental categories did not differ significantly from one

another.

• No significant differences existed among the

3-month absorption rates for efficiency

apartments, one-bedroom apartments, twobedroom apartments, and apartments with

three or more bedrooms built in 2000.

Issued July 2001
2 U.S. Census Bureau

• More (52 percent) new rental apartments in 2000

were completed in suburban areas, than were built in

the nation's central cities (43 percent). Only

5 percent of rental apartments were built outside

metropolitan areas (MAs). There were no significant

differences among the 3-month absorption rates for

rental completions in these areas (see Table 3).

• Of the 226,100 newly-completed rental apartments in

2000, 95 percent had air conditioning available, while

75 percent had a swimming pool available. Only

5 percent included electricity in the monthly rent, and

8 percent included natural gas (see Table 4).

• About 35,700 condominium and cooperative apartments were completed in 2000, not significantly

different from the 34,200 such completions in 1999.

Within 3 months, 78 percent of the units completed

in 2000 had been sold (absorbed). The Northeast

(4 percent) had the fewest condominium and cooperative completions. The Midwest, with 23 percent

and the West (28 percent) were next in terms of such

completions, but did not differ significantly from one

another. The South had the most new condominium

and cooperatives built in 2000 with 45 percent (see

Table 5).

• The median asking price for all condominium apartments built in 2000 was $144,600, which did not

differ significantly from the $127,600 asking price

for units built in 1999, nor was it significantly

different from the 1999 inflation-adjusted median

asking price of $131,900. Ninety percent of all new

condominiums built in 2000 had two bedrooms or

more (see Table 6).

• There were no significant differences in the number

of newly built condominium units based on asking

price, except for those in $200,000 to $249,999

range which represented only 8 percent of new

units. Comparisons of 3-month absorption rates

for units in each of the asking price ranges showed

no significant differences.

• Approximately 300,000 apartments in all residential

buildings with five units or more were completed in

2000. This estimate did not differ significantly from

the 291,800 such units completed in 1999 (Table 8).

Seventy-five percent of 2000 completions were

nonsubsidized, unfurnished rental apartments;

8 percent were federally subsidized units;

12 percent were condominiums and cooperatives;

1 percent were furnished rental units; and the

remaining 3 percent were not in the scope of the

survey.

CHARACTERISTICS OF THE DATA

All statistics from the SOMA are limited to apartments

in newly constructed buildings with five units or more.

Absorption rates are based on the first time an apartTable 1. Unfurnished Apartments Completed by Rent and Number of Bedrooms for the

United States and Regions: 2000

[Privately financed, nonsubsidized, unfurnished, rental apartments in buildings with five units or more. Data regarding number of bedrooms

and asking rent are collected at the initial interview, i.e., 3 months following completion. Details may not sum to totals because of rounding.

Medians and percents are computed using unrounded data]

Characteristic

Number of unfurnished apartments Percent distribution

United

States

Northeast Midwest South WestUnited

States

Northeast Midwest South West

Total.................. 226,100 14,900 39,700 125,700 45,800 100 100 100 100 100

ASKING RENT

Less than $550 .............. 19,400 1,400 6,000 10,200 1,800 9 10 15 8 4

$550 to $649 ................ 26,000 500 9,800 12,900 2,800 12 3 25 10 6

$650 to $749 ................ 36,600 100 6,400 23,100 6,900 16 1 16 18 15

$750 to $849 ................ 34,500 1,300 6,800 21,200 5,300 15 8 17 17 12

$850 to $949 ................ 26,600 2,600 3,200 15,800 5,000 12 17 8 13 11

$950 or more ................ 82,900 9,000 7,400 42,500 24,000 37 61 19 34 52

Median asking rent ........... $839 $950+ $712 $828 $950+ (X) (X) (X) (X) (X)

BEDROOMS

No bedroom ................. 6,000 1,400 500 1,700 2,500 3911 6

1 bedroom................... 77,400 4,200 13,100 43,500 16,700 34 28 33 35 36

2 bedrooms.................. 114,500 8,700 22,400 62,100 21,400 51 58 56 49 47

3 bedrooms or more .......... 28,100 700 3,700 18,400 5,300 12 5 9 15 12

X Not applicable.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.
U.S. Census Bureau 3

ment 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 the two

programs of the Department of Housing and Urban

Development (Section 8, Low Income Housing Assistance

and Section 202, Senior 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. Units categorized as not in the scope of

the survey include time-sharing units, continuing care

retirement units, and turnkey units (privately built for and

sold to local public housing authorities after completion).

Tables 1 through 4 are restricted to privately financed,

nonsubsidized, unfurnished rental apartments. Table 5 is

restricted to privately financed, nonsubsidized, condominium and cooperative apartments, while Table 6 is

limited to privately financed, nonsubsidized condominium

apartments only. Table 7 covers privately financed,

nonsubsidized, furnished, rental apartments and Table 8

is a historical summary table which includes all newly

constructed apartments in buildings with five units or

more. Estimates published in this report are preliminary

and are subject to revision in the H-130, Market Absorption of Apartments annual report.

The SOMA is a sample survey and consequently all

statistics in this report are subject to sampling variability.

Estimates derived from different samples would differ

from one another. The standard error of a survey estimate is a measure of the variation among the estimates

from all possible samples. The methodology for calculating standard errors is explained in the section on Accuracy of the Estimates.

NOTE TO DATA USERS

The SOMA adopted new ratio estimation procedures in

1990 to derive more accurate estimates of completions2.

This new procedure was used for the first time in

processing annual data for 1990. Please use caution when

comparing completions in 1990 and following years with

those in earlier years.

SAMPLE DESIGN

The U.S. Census Bureau designed the survey to provide

data concerning the rate at which privately financed,

3See the January 2001 issue of “Housing Starts,” Current Construction

Reports, Series C20, for details of this survey.

2See ESTIMATION.

nonsubsidized, unfurnished units in buildings with five or

more units are rented or sold (absorbed). In addition, the

survey collects data on characteristics such as number of

bedrooms, rent, and price.

Buildings for the survey came from those included in the

Census Bureau’s Survey of Construction (SOC)3. For the

SOC, the United States is first divided into primary

sampling units (PSUs) which are stratified based on

population and building permits. The PSUs to be used for

the survey are then randomly selected from each stratum. Next, a sample of permit-issuing places is chosen

within each of the selected PSUs. Finally, all newly

constructed buildings with five units or more within

sampled places, as well as a subsample of buildings with

one to four units, are included in the SOC.

For the SOMA, the Census Bureau select, each quarter, a

sample of buildings with five or more units that have

been reported in the SOC sample as having been completed during that quarter. The SOMA does not include

buildings completed in nonpermit-issuing areas. Information is then obtained on the proportion of units absorbed

3, 6, 9, and 12 months after completion for units in

buildings selected in a given quarter in each of the next

4 quarters.

ESTIMATION

Beginning with data on completions in the fourth quarter

of 1990 (which formed the basis for absorptions in the

first quarter of 1991), the Census Bureau modified the

estimation procedure and applied the modified estimation

procedure to data for the other 3 quarters of 1990 so that

one could derive annual estimates using the same

methodology for 4 quarters. The Census Bureau has not

performed any additional re-estimation of past data.

Before the estimation procedure changed, the Census

Bureau had formed unbiased quarterly estimates by

multiplying the counts for each building by its base

weight (the inverse of its probability of selection) and

then summing over all buildings. Multiplying the unbiased

estimate by the following ratio-estimate factor for the

country as a whole provides the following estimate:

total units in buildings with five units or more in

permit-issuing areas as estimated by SOC for that quarter

total units in buildings with five units or more as estimated

by the SOMA for that quarter
4 U.S. Census Bureau

For the modified estimation procedure, instead of

applying a single ratio-estimate factor for the entire

country, the Census Bureau computes separate ratioestimate factors for each of the four census regions.

Multiplying the unbiased regional estimates by the

corresponding ratio-estimate factors provides the final

estimates for regions. The Census Bureau obtains the

final estimates for the country by summing the final

regional estimates.

This procedure produces estimates of the units completed in a given quarter which are consistent with

published figures from the SOC and reduces, to some

extent, the sampling variability of the estimates of totals.

Annual absorption rates are obtained by computing a

weighted average of the four quarterly estimates.

Absorption rates and other characteristics of units not

included in the interviewed group or not accounted for

are assumed to be identical to rates for units where data

were obtained. The noninterviewed and not-accountedfor cases constitute less than 2 percent of the sample

housing units in this survey.

ACCURACY OF THE ESTIMATES

Two types of possible errors are associated with data

from sample surveys: nonsampling and sampling errors.

The following is a description of the nonsampling and

sampling errors associated with the SOMA.

Nonsampling Errors

In general, nonsampling errors can be attributed to many

sources: inability to obtain information about all cases in

the sample, difficulties with definitions, differences in

interpretation of questions, inability or unwillingness of

the respondents to provide correct information, and

errors made in processing the data. These nonsampling

errors also occur in complete censuses. Although no

direct measurements of the biases have been obtained,

the Census Bureau thinks that most of the important

response and operational errors were detected during

review of the data for reasonableness and consistency.

Sampling Errors

The particular sample used for this survey is one of many

possible samples of the same size that could have been

selected using the same design. Even if the same questionnaires, instructions, and interviewers were used,

estimates from different samples would likely differ from

each other. The deviation of a sample estimate from the

average of all possible samples is defined as the sampling

error. The standard error of a survey estimate attempts to

provide a measure of this variation among the estimates

from the possible samples and, thus, is a measure of the

precision with which an estimate from a sample approximates the average result from all possible samples.

As calculated for this survey, the standard error also

partially measures the variation in the estimates due to

errors in responses and by the interviewers (nonsampling

errors), but it does not measure, as such, any systematic

biases in the data. Therefore, the accuracy of the estimates depends on the standard error, biases, and some

additional nonsampling errors not measured by the

standard error. As a result, confidence intervals around

estimates based on this sample reflect only a portion of

the uncertainty that actually exists. Nonetheless, such

intervals are extremely useful because they do capture all

of the effect of sampling error and, in this case, some

nonsampling error as well.

If all possible samples were selected, each of them was

surveyed under essentially the same general conditions,

there were no systematic biases, and an estimate and its

estimated standard error were calculated from each

sample, then:

• Approximately 68 percent of the intervals from one

standard error below the estimate to one standard

error above the estimate (i.e., the 68-percent confidence interval) would include the average result from

all possible samples.

• Approximately 90 percent of the intervals from 1.6

standard errors below the estimate to 1.6 standard

errors above the estimate (i.e., the 90-percent confidence interval) would include the average result from

all possible samples.

• Approximately 95 percent of the intervals from two

standard errors below the estimate to two standard

errors above the estimate (i.e., the 95-percent confidence interval) would include the average result from

all possible samples.

This report uses a 90-percent confidence level as its

standard for statistical significance.

For very small estimates, the lower limit of the confidence interval may be negative. In this case, a better

approximation to the true interval estimate can be

achieved by restricting the interval estimate to positive

values; that is, by changing the lower limit of the interval

estimate to zero.

The reliability of an estimated absorption rate (i.e., a

percentage) computed by using sample data for both the

numerator and denominator depends on both the size of

the rate and the size of the total on which the rate is
U.S. Census Bureau 5

based. Estimated rates of this kind are relatively more

reliable than the corresponding estimates of the numerators of the rates, particularly if the rates are 50 percent or

more.

Tables A, B, and C present approximations to the standard

errors of various estimates shown in the report. Table A

presents standard errors for estimated totals, and

Table B and C present standard errors of estimated

percentages for rental apartments and condominiums,

respectively. To derive standard errors that would be

applicable to a wide variety of items and could be

prepared at moderate cost a number of approximations

were required. As a result, the tables of standard errors

provide an indication of the order of magnitude of the

standard errors rather than the precise standard error for

any specific item. Standard errors for values not shown

in Tables A, B, or C can be obtained by linear interpolation.

ILLUSTRATIVE USE OF THE STANDARD

ERROR TABLES

Table 2 of this report shows that there were about

13,100 1-bedroom apartments built in the Midwest in

2000. Table A shows the standard error of an estimate

of this size to be approximately 1,790. To obtain a

90-percent confidence interval, multiply 1,790 by 1.6

and add and subtract the result from 13,100 yielding

limits of 10,240 and 15,960. The average estimate of

these units completed in 2000 in the Midwest may or

may not be included in this computed interval, but one

can say that the average is included in the constructed

interval with a specified confidence of 90 percent.

Table 2 also shows that the rate of absorption after

3 months for these 1-bedroom apartments in the Midwest is 79 percent. Table B shows the standard error on

a 79 percent rate on a base of 13,100 to be approximately 5.8 percent. Multiply 5.8 by 1.6 (yielding 9) and

add and subtract the result from 79. The 90-percent

confidence interval for the absorption rate of 79 percent

is from 70 percent to 88 percent.

length of interval containing the sample median standard error of median = σ50% x

estimated proportion of

the base falling within the

interval containing the

sample median

For this example, the standard error of the median of

$613 is:

7.2 x = $19 100

37

Therefore, 1.6 standard errors equals $30. Consequently,

an approximate 90-percent confidence interval for the

median asking rent of $613 is between $583 and $643

($613 plus or minus $30).

Table 2 also shows that the median asking rent for these

estimated 13,100 1-bedroom apartments built in the Midwest was $613. The standard error of this median is

about $19.

Several statistics are needed to calculate the standard

error of a median.

• The base of the median--the estimated number of

units for which the median has been calculated. In

this example, 13,100.

• The estimated standard error from Table B of a

50-percent characteristic on the base of the median

(σ50%). In this example, the estimated standard error

of a 50-percent characteristic with the base of 13,100

is about 7.2 percent.

• The length of the interval that contains the median. In

this example, the median lies between $550 and

$649. The length of the interval is $100.

• The estimated proportion of the base falling in the

interval that contains the median: in this example,

37 percent. The standard error of the median is

obtained by using the following approximation:
6 U.S. Census Bureau

Figure 1.

Percent Distribution of New Unfurnished Rental and New Condominium

and Cooperative Units Completed by Region: 2000

Unfurnished Rental

Apartments

Condominium and Cooperative

Apartments

Midwest

18%

Northeast

7%

West

20%

South

56%

Midwest

23%

Northeast

4%

West

28%

South

45%

Source: U.S. Census Bureau, H131, Characteristics of Apartments Completed.

Figure 2.

Median Asking Rent/Price for Unfurnished Rental and 

Condominium Apartments Completed in 2000

Source: U.S. Census Bureau, H131, Characteristics of Apartments Completed.

*Northeast and West median asking rent is $950 or more. *Northeast median asking price is $250,000 or more.

Dollars Thousands of dollars

0

50

100

150

200

250

300

United Northeast* Midwest South West

States

0

100

200

300

400

500

600

700

800

900

1000

United Northeast* Midwest South West

States
Table 2. Unfurnished Apartments Completed and 3-Month Absorption Rate by Rent and Number of

Bedrooms for the United States and Regions: 2000

[Privately financed, nonsubsidized, unfurnished, rental apartments in buildings with five units or more. Data regarding number of bedrooms and asking

rent are collected at the initial interview; i.e., 3 months following completion. Details may not sum to totals because of rounding. Medians and percents

are computed using unrounded data]

Characteristic

Number of unfurnished apartments Percent absorbed within 3 months

United

States Northeast Midwest South West

United

States Northeast Midwest South West

Total ................... 226,100 14,900 39,700 125,700 45,800 72 85 77 67 77

Less than $550 . ............... 19,400 1,400 6,000 10,200 1,800 75 91 83 66 88

$550 to $649 .................. 26,000 500 9,800 12,900 2,800 78 97 87 74 66

$650 to $749 .................. 36,600 100 6,400 23,100 6,900 68 6 68 67 74

$750 to $849 .................. 34,500 1,300 6,800 21,200 5,300 72 100 76 68 76

$850 to $949 .................. 26,600 2,600 3,200 15,800 5,000 68 90 63 65 71

$950 or more .................. 82,900 9,000 7,400 42,500 24,000 72 81 74 66 79

Median asking rent ............. $839 $950+ $712 $828 $950+ (X) (X) (X) (X) (X)

No bedroom ................... 6,000 1,400 500 1,700 2,500 70 48 72 69 83

Less than $750 . ............... 1,600 100 300 900 400 86 98 90 88 78

$750 or more .................. 4,400 1,300 100 800 2,100 64 46 31 48 86

Median asking rent ............. $950+ $950+ $550- $745 $950+ (X) (X) (X) (X) (X)

1 bedroom. .................... 77,400 4,200 13,100 43,500 16,700 75 87 79 71 79

Less than $550 . ............... 9,900 600 3,500 4,600 1,200 84 84 82 82 95

$550 to $649 .................. 11,900 (Z) 4,800 5,600 1,400 81 (Z) 89 74 78

$650 to $749 .................. 17,800 100 2,700 11,700 3,400 68 - 72 66 75

$750 to $849 .................. 12,100 700 200 8,800 2,400 73 99 65 70 73

$850 to $949 .................. 6,900 300 300 4,400 1,900 74 88 65 74 75

$950 or more .................. 18,800 2,400 1,600 8,400 6,300 76 87 60 72 81

Median asking rent ............. $744 $950+ $613 $749 $844 (X) (X) (X) (X) (X)

2 bedrooms.................... 114,500 8,700 22,400 62,100 21,400 71 89 75 65 74

Less than $550 . ............... 7,100 800 2,200 3,800 300 71 97 84 58 66

$550 to $649 .................. 12,100 200 4,800 6,100 1,000 76 94 85 74 49

$650 to $749 .................. 15,900 (Z) 3,300 9,700 2,900 67 (Z) 65 67 69

$750 to $849 .................. 19,300 600 5,900 10,800 2,000 72 100 78 66 76

$850 to $949 .................. 16,500 2,200 2,600 9,200 2,600 66 91 58 60 72

$950 to $1,049 ................. 11,400 1,700 1,200 6,400 2,200 68 94 85 56 74

$1,050 or more ................ 32,200 3,200 2,400 16,100 10,500 73 83 71 69 78

Median asking rent ............. $867 $982 $765 $856 $1,039 (X) (X) (X) (X) (X)

3 bedrooms or more ............ 28,100 700 3,700 18,400 5,300 70 96 78 64 80

Less than $550 . ............... 1,700 (Z) (Z) 1,500 100 35 (Z) (Z) 30 77

$550 to $649 .................. 1,400 200 200 900 100 76 100 83 70 59

$650 to $749 .................. 2,500 - 400 1,500 500 74 (X) 66 70 93

$750 to $849 .................. 2,900 - 700 1,300 900 70 (X) 60 69 80

$850 to $949 .................. 2,800 (Z) 400 2,100 300 69 (Z) 93 68 42

$950 to $1,049 ................. 3,800 (Z) 500 2,900 400 66 (Z) 79 63 70

$1,050 or more................. 13,100 400 1,600 8,200 3,000 74 93 85 67 83

Median asking rent ............. $1,025 $1,050+ $990 $1,013 $1,050+ (X) (X) (X) (X) (X)

- Represents zero. X Not applicable. Z Fewer than 50 units or less than one-half of 1 percent.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

7

U.S. Census Bureau
Table 3. Unfurnished Apartment Completed and 3-Month Absorption Rate by Rent and Number of

Bedrooms for the United States and Inside or Outside Metropolitan Areas: 2000

[Privately financed, nonsubsidized, unfurnished, rental apartments in buildings with five units or more. Data regarding number of bedrooms and asking

rent are collected at the initial interview; i.e., 3 months following completion. Details may not sum to totals because of rounding. Medians and percents

are computed using unrounded data]

Characteristic

Number of unfurnished apartments Percent absorbed within 3 months

United

States

Inside metropolitan areas

Outside

metropolitan areasUnited

States

Inside metropolitan areas

Outside

metropolitan areasIn central

city

Not in

central city

In central

city

Not in

central city

Total . . . ...................... 226,100 98,200 116,900 11,000 72 72 72 72

Less than $550 . . .................... 19,400 7,100 7,300 5,100 75 87 77 57

$550 to $649 . . . ..................... 26,000 12,500 11,400 2,200 78 78 80 75

$650 to $749 . . . ..................... 36,600 17,200 17,900 1,500 68 72 63 84

$750 to $849 . . . ..................... 34,500 13,900 20,200 500 72 74 70 88

$850 to $949 . . . ..................... 26,600 8,600 17,800 300 68 71 66 85

$950 or more ........................ 82,900 39,000 42,400 1,500 72 68 76 98

Median asking rent ................... $839 $838 $859 $571 (X) (X) (X) (X)

No bedroom ......................... 6,000 3,300 2,600 100 70 62 79 84

Less than $750 . . .................... 1,600 1,100 500 100 86 87 83 84

$750 or more ........................ 4,400 2,300 2,200 - 64 50 78 (X)

Median asking rent ................... $950+ $950+ $950+ $550- (X) (X) (X) (X)

1 bedroom . . ........................ 77,400 36,700 38,400 2,300 75 75 75 87

Less than $550 . . .................... 9,900 4,900 4,100 900 84 86 82 85

$550 to $649 . . . ..................... 11,900 5,500 5,300 1,100 81 75 85 85

$650 to $749 . . ..................... 17,800 6,400 11,100 200 68 70 66 100

$750 to $849 . . ..................... 12,100 5,100 6,900 (Z) 73 76 70 (Z)

$850 to $949 . . . ..................... 6,900 3,400 3,600 - 74 75 74 (X)

$950 or more ........................ 18,800 11,400 7,400 - 76 71 83 (X)

Median asking rent ................... $744 $779 $738 $571 (X) (X) (X) (X)

2 bedrooms . . ....................... 114,500 46,400 62,100 6,000 71 71 71 72

Less than $550 . . .................... 7,100 1,500 2,500 3,100 71 87 69 64

$550 to $649 . . . ..................... 12,100 6,300 5,400 500 76 80 75 54

$650 to $749 . . . ..................... 15,900 9,200 5,500 1,200 67 71 56 81

$750 to $849 . . . ..................... 19,300 6,800 12,100 400 72 71 72 89

$850 to $949 . . . ..................... 16,500 3,700 12,800 100 66 70 64 84

$950 to $1,049 ...................... 11,400 3,400 7,500 400 68 61 70 95

$1,050 or more . . . ................... 32,200 15,500 16,300 300 73 67 79 100

Median asking rent ................... $867 $841 $893 $550- (X) (X) (X) (X)

3 bedrooms or more.................. 28,100 11,700 13,800 2,600 70 75 68 56

Less than $550 . . .................... 1,700 100 600 1,000 35 90 74 5

$550 to $649 . . . ..................... 1,400 400 500 600 76 79 77 72

$650 to $749 . . . ..................... 2,500 1,400 1,100 (Z) 74 81 66 (Z)

$750 to $849 . . . ..................... 2,900 1,900 1,000 (Z) 70 78 56 (Z)

$850 to $949 . . . ..................... 2,800 1,200 1,300 200 69 68 66 86

$950 to $1,049 ...................... 3,800 1,600 2,000 100 66 64 67 84

$1,050 or more . . . ................... 13,100 5,200 7,200 700 74 77 69 100

Median asking rent ................... $1,025 $1,007 $1,050+ $608 (X) (X) (X) (X)

- Represents zero. X Not applicable. Z Fewer than 50 units or less than one-half of 1 percent.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

8

U.S. Census Bureau
Table 4. Unfurnished Apartments Completed and 3-Month Absorption Rate by Amenities

and Utilities for the United States: 2000

[Privately financed, nonsubsidized, unfurnished, rental apartments in buildings with five units or more. Data regarding features and utilities are collected at the initial interview; i.e., 3 months following completion. Details may not sum to totals because of rounding. Percents are computed using

unrounded data]

Characteristic Number Percent

Percent absorbed

within 3 months

Total ........................................................ 226,100 100 72

AMENITIES

Swimming pool

Available

Included in rent ................................................... 168,300 74 70

At extra cost . . . .................................................. 1,200 1 71

Not available ....................................................... 56,600 25 78

Parking

Available

Included in rent ................................................... 216,400 96 72

At extra cost . . . .................................................. 4,500 2 75

Not available ....................................................... 5,300 2 52

Air-conditioning

Available. . ....................................................... 213,800 95 71

Not available .................................................... 12,400 5 82

Dishwasher

Available. . ....................................................... 219,700 97 72

Not available . . . .................................................. 6,500 3 70

UTILITIES

Electricity

Included in rent ................................................... 10,900 5 55

At extra cost . . . .................................................. 215,200 95 73

Gas

Available

Included in rent ................................................... 17,400 8 68

At extra cost . . . .................................................. 94,500 42 76

Not available ....................................................... 114,200 50 69

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

9

U.S. Census Bureau
Table 5. Condominium and Cooperative Apartments Completed and 3-Month Absorption Rate by

Number of Bedrooms and Geography: 2000

[Privately financed, nonsubsidized, condominium and cooperative apartments in buildings with five units or more. Data regarding number of bedrooms

are collected at the initial interview; i.e., 3 months following completion. Details may not sum to totals because of rounding. Percents are computed

using unrounded data]

Characteristic Number Percent

Percent absorbed

within 3 months

Total ........................................................ 35,700 100 78

BEDROOMS

Fewer than 2 bedrooms ............................................. 3,500 10 70

2 bedrooms ........................................................ 22,200 62 77

3 bedrooms or more ................................................ 9,900 28 83

REGION

Northeast .......................................................... 1,600 4 73

Midwest . . . ........................................................ 8,100 23 77

South ............................................................. 16,100 45 81

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,900 28 75

AREA

Inside metropolitan areas . . .......................................... 30,900 87 78

In central city..................................................... 13,200 37 72

Not in central city (suburbs) ........................................ 17,700 50 82

Outside metropolitan areas .......................................... 4,800 13 78

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

10

U.S. Census Bureau
Table 6. Condominium Apartments Completed and 3-Month Absorption Rate by Asking Price,

Number of Bedrooms, and Geography: 2000

[Privately financed, nonsubsidized, condominium apartments in buildings with five units or more. Data regarding number of bedrooms and asking price

are collected at the initial interview; i.e., 3 months following completion. Details may not sum to totals because of rounding. Medians and percents are computed using unrounded data]

Characteristic Number Percent

Percent absorbed

within 3 months

Median

asking price

Total .............................................. 35,500 100 78 $144,600

ASKING PRICE

Less than $100,000 ....................................... 7,000 20 74 (X)

$100,000 to $124,999 . . ................................... 5,900 17 72 (X)

$125,000 to $149,999 . . ................................... 6,200 18 85 (X)

$150,000 to $199,999 . . ................................... 6,300 18 79 (X)

$200,000 to $249,999 . . ................................... 2,800 8 84 (X)

$250,000 or more ......................................... 7,400 21 78 (X)

BEDROOMS

Fewer than 2 bedrooms.................................... 3,500 10 69 $173,500

2 bedrooms .............................................. 22,100 62 77 $136,400

3 bedrooms or more. . ..................................... 9,900 28 83 $176,600

REGION

Northeast ................................................ 1,500 4 72 $250,000+

Midwest.................................................. 8,100 23 77 $131,300

South . . .................................................. 16,000 45 81 $138,300

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,900 28 75 $160,500

AREA

Inside metropolitan areas . . ................................ 30,700 87 78 $144,900

In central city . .......................................... 13,100 37 72 $192,400

Not in central city (suburbs) .............................. 17,600 50 82 $133,000

Outside metropolitan areas . ................................ 4,800 13 78 $137,800

X Not applicable.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

11

U.S. Census Bureau
Table 7. Furnished Apartments Completed and 3-Month Absorption Rate by Asking Rent, Number of

Bedrooms, and Geography: 2000

[Privately financed, nonsubsidized, furnished, rental apartments in buildings with five units or more. Data regarding number of bedrooms and asking

rent are collected at the initial interview; i.e., 3 months following completion. Details may not sum to totals because of rounding. Medians and percents

are computed using unrounded data]

Characteristic Number Percent

Percent absorbed

within 3 months

Median

asking rent

Total .............................................. 2,900 100 91 $950+

ASKING RENT

Less than $750 . . . ........................................ 1,100 38 98 (X)

$750 or more . . . .......................................... 1,800 62 87 (X)

BEDROOMS

Fewer than 2 bedrooms.................................... 1,200 41 95 $608

2 bedrooms or more. . ..................................... 1,700 59 88 $1,050+

REGION

Northeast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Z) (Z) (Z) (Z)

Midwest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 10 100 $550-

South . . .................................................. 2,200 75 91 $ 950+

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400 15 85 $950+

AREA

Inside metropolitan areas . . ................................ 2,900 100 91 $950+

In central city . .......................................... 1,900 65 89 $950+

Not in central city (suburbs) .............................. 1,000 35 94 $626

Outside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . - - (X) (X)

- Represents zero. X Not applicable. Z Fewer than 50 units or less than one-half of 1 percent.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

12

U.S. Census Bureau
Table 8. Total Apartments Completed in Buildings With Five Units or More: 1970 to 2000

[Details may not sum to totals because of rounding. Percents are computed using unrounded data]

Year

Total

Unfurnished

apartments

Furnished

apartments

Condominiums and

cooperatives

Federally

subsidized Other1

Number Percent Number Percent Number Percent Number Percent Number Percent

2000. ............ 300,000 226,100 75 2,900 1 35,700 12 25,200 8 10,100 3

1999. ............ 291,800 225,900 77 7,700 3 34,200 12 13,600 5 10,400 4

1998. ............ 273,900 209,900 77 3,000 1 34,500 13 20,000 7 6,600 2

1997. ............ 247,100 189,200 77 3,000 1 35,800 15 14,100 6 5,000 2

1996. ............ 251,300 191,300 76 2,400 1 36,900 15 14,200 6 6,400 3

1995. ............ 212,400 155,000 73 1,600 1 36,400 17 13,700 6 5,700 3

1994. ............ 154,900 104,000 67 1,100 1 34,400 22 11,800 8 3,600 2

1993. ............ 124,800 77,200 62 2,700 2 32,000 26 7,700 6 5,200 4

1992. ............ 155,200 110,200 71 700 (Z) 31,100 20 7,000 5 6,000 4

1991. ............ 216,500 165,300 76 2,800 1 35,300 16 9,600 4 3,500 2

1990. ............ 294,400 214,300 73 2,900 1 52,600 18 13,800 5 10,800 4

1989. ............ 337,900 246,400 73 4,900 1 59,700 18 19,800 6 7,200 2

1988. ............ 388,600 284,500 73 4,300 1 76,200 20 15,200 4 8,400 2

1987. ............ 474,200 345,600 73 7,900 2 92,300 19 17,000 4 11,300 2

1986. ............ 550,200 407,600 74 11,600 2 101,700 18 23,30 0 4 6,000 1

1985. ............ 533,300 364,500 68 7,400 1 135,800 25 12,000 2 13,700 3

1984. ............ 506,000 313,200 62 9,800 2 143,600 28 28,500 6 10,700 2

1983. ............ 370,700 191,500 52 4,700 1 111,800 30 47,700 13 15,100 4

1982. ............ 288,200 117,000 41 5,400 2 107,900 37 48,000 17 10,000 3

1981. ............ 332,500 135,400 41 6,000 2 112,600 34 66,100 20 12,500 4

1980. ............ 418,900 196,100 47 9,700 2 122,800 29 79,900 19 10,500 3

1979. ............ 439,300 241,200 55 12,100 3 91,800 21 87,500 20 6,700 2

1978. ............ 362,700 228,700 63 11,200 3 54,500 15 54,100 15 14,300 4

1977. ............ 289,400 195,600 68 16,200 6 43,000 15 26,000 9 8,700 3

1976. ............ 258,200 157,000 61 12,800 5 46,300 18 32,000 12 10,000 4

1975. ............ 371,400 223,100 60 11,100 3 84,600 23 38,900 10 13,800 4

1974. ............ 685,400 405,500 59 20,700 3 159,000 23 75,400 11 25,000 4

1973. ............ 774,800 531,700 69 36,200 5 98,100 13 82,000 11 26,800 3

1972. ............ 718,200 497,900 69 37,700 5 57,300 8 93,800 13 31,400 4

1971. ............ 583,400 334,400 57 32,200 6 49,100 8 104,800 18 63,000 11

1970. ............ 526,000 328,400 62 48,200 9 72,500 14 55,900 11 21,000 4

Z Fewer than 50 units or less than one-half of 1 percent.

1

Other includes time-sharing units, continuing-care retirement units, and turnkey units (privately built for and sold to local public housing authorities

subsequent to completion).

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

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U.S. Census Bureau
Table A. Standard Errors for Estimates of Apartments in Buildings With Five Units or More:

Completions in 2000

Estimated number

Standard error

Estimated number

Standard error

Rental apartments

Condominium

apartments Rental apartments

Condominium

apartments

500 . . . . . . . . . . . . . . . . . . . . 300 200 25,000. . . ............ 2,500 2,900

800 . . . . . . . . . . . . . . . . . . . . 400 300 35,000. . . ............ 2,900 3,500

1,000 . . . . . . . . . . . . . . . . . . 500 400 50,000. . . ............ 3,500 4,200

2,000 . . . . . . . . . . . . . . . . . . 700 600 75,000. . . ............ 4,300 5,200

3,000 . . . . . . . . . . . . . . . . . . 900 800 100,000 ............. 5,000 6,100

4,000 .................. 1,000 1,000 150,000 ............. 6,100 7,500

5,000 .................. 1,100 1,200 250,000 ............. 7,900 (X)

10,000 ................. 1,600 1,800 350,000 ............. 9,300 (X)

15,000 ................. 1,900 2,200 450,000 ............. 10,600 (X)

20,000 ................. 2,200 2,600 600,000 ............. 12,200 (X)

X Not applicable.

Note: See page 5 for instructions on the use of this table.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

Table B. Standard Errors of Estimated Percentages for Rental Apartments: Completions in 2000

Estimated percentages 500 800 1,000 5,000 10,000 20,000 50,000 75,000 100,000 150,000 350,000 600,000

98 or 2. . . . . . . . . . . . . . . . . . . . 9.9 7.8 7.0 3.1 2.2 1.6 1.0 0.8 0.7 0.6 0.4 0.3

95 or 5. . . . . . . . . . . . . . . . . . . . 15.4 12.1 10.9 4.9 3.4 2.4 1.5 1.3 1.1 0.9 0.6 0.4

90 or 10. . . . . . . . . . . . . . . . . . . 21.1 16.7 14.9 6.7 4.7 3.3 2.1 1.7 1.5 1.2 0.8 0.6

80 or 20. . . . . . . . . . . . . . . . . . . 28.2 22.3 14.4 8.9 6.3 4.5 2.8 2.3 2.0 1.6 1.1 0.8

75 or 25. . . . . . . . . . . . . . . . . . . 30.5 24.1 21.6 9.6 6.8 4.8 3.0 2.5 2.2 1.8 1.2 0.9

60 or 40. . . . . . . . . . . . . . . . . . . 34.5 27.3 24.4 10.9 7.7 5.5 3.5 2.8 2.4 2.0 1.3 1.0

50 . . . . . . . . . . . . . . . . . . . . . . . . 35.2 27.8 24.9 11.1 7.9 5.6 3.5 2.9 2.5 2.0 1.3 1.0

Note: See page 5 for instructions on the use of this table.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

Table C. Standard Errors of Estimated Percentages for Condominium Apartments: Completions

in 2000

Estimated percentages 500 800 1,000 3,000 5,000 10,000 15,000 25,000 50,000 75,000 100,000 150,000

98 or 2. . . . . . . . . . . . . . . . . . . . 12.5 9.9 8.9 5.1 4.0 2.8 2.3 1.8 1.3 1.0 0.9 0.7

95 or 5. . . . . . . . . . . . . . . . . . . . 19.5 15.4 13.8 8.0 6.2 4.4 3.6 2.8 1.9 1.6 1.4 1.1

90 or 10. . . . . . . . . . . . . . . . . . . 26.8 21.2 19.0 11.0 8.5 6.0 4.9 3.8 2.7 2.2 1.9 1.5

80 or 20. . . . . . . . . . . . . . . . . . . 35.8 48.3 25.3 14.6 11.3 8.0 6.5 5.1 3.6 2.9 2.5 2.1

75 or 25. . . . . . . . . . . . . . . . . . . 38.7 30.6 27.4 15.8 12.2 5.7 7.1 5.5 3.9 3.2 2.7 2.2

60 or 40. . . . . . . . . . . . . . . . . . . 43.8 34.6 31.0 17.9 13.9 9.8 8.0 6.2 4.4 3.6 3.1 2.5

50 . . . . . . . . . . . . . . . . . . . . . . . . 44.7 35.4 31.6 18.3 14.1 10.0 8.2 6.3 4.5 3.7 3.2 2.6

Note: See page 5 for instructions on the use of this table.

Source: U.S. Census Bureau, Characteristics of Apartments Completed.

14

U.S. Census Bureau