U.S. Department of Commerce

Economics and Statistics Administration

U.S. CENSUS BUREAU

Issued December 2005

H131/04-A

Characteristics of Apartments

Completed: Annual 2004

Current 

Housing 

Reports

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. 

As with all surveys, estimates may vary 

from actual values because of sampling 

variation or other factors. All statements in this report have undergone 

statistical testing and are significant at 

the 90-percent confidence level.

HIGHLIGHTS1

• Preliminary estimates from the Survey 

of Market Absorption show that, during 2004, a total of 155,000 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 statistically 

from the estimated 167,800 completions in 2003, and is identical to the 

1995 estimate. New unfurnished 

rental completions in 2004 and 2003 

were less than similar completions 

between 1996–2002 (Table 8).

• The South, with 47 percent, had 

the largest proportion of new, unfurnished rental completions of any 

region, followed by the West, with 24 

percent. The Midwest (20 percent) 

ranked third, while the Northeast had 

8 percent of new rental completions 

in 2004 (Table 1).

• Two-bedroom units were the predominant size built, accounting for about 

50 percent of newly constructed rental 

apartments, followed by one-bedroom 

units (35 percent). The third group 

comprised units with three or more 

bedrooms (13 percent), and the smallest group, efficiencies (no bedrooms), 

accounted for 3 percent of new 2004 

rental completions (Table 1).

• The median monthly asking rent for 

all unfurnished rental apartments 

completed in 2004 was $974—not 

statistically different from the $957 

(in 2004 dollars; $932 in 2003 dollars) median rent for unfurnished 

apartments completed in 2003 (Table 

2). Units with three or more bedrooms had a median asking rent of 

$1,099, the highest among the four 

categories, followed by the $999 

median for two-bedroom units. The 

median asking rent for one-bedroom 

units ($900) and that for efficiencies 

($753) were not statistically different 

(Table 2).

• In 2004, about 43 percent of the completed unfurnished rental apartments 

had a median asking rent of $1,050 

or more—by far the largest proportion of rental completions based on 

asking rent. Units renting between 

$950–$1,049 (9 percent) composed 

the smallest proportion. There were 

no other statistically significant differences in the proportions of new rental 

completions among the other askingrent categories (Table 2). 1 Details may not sum to totals because of rounding.

U.S. Department of Housing 

and Urban Development

Questions regarding these data may be directed to Housing and Household Economic Statistics Division, telephone: 301-763-3199. 

For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.
2 Characteristics of Apartments Completed: Annual 2004

U.S. Census Bureau

• The 3-month absorption rate for unfurnished rental 

apartments was 62 percent. The rate for such 

apartments renting for less than $650 (70 percent) 

was higher by about 17 percentage points than the 

rate for those renting for $850–$949 (53 percent). 

There were no other statistical differences in the 

3-month absorption rates among asking rent 

categories (Table 2).

• There were no statistically significant differences 

among 3-month absorption rates for unfurnished 

apartments built in 2004 based on number of 

bedrooms (Table 2).

• About 46 percent of new unfurnished rental units 

were completed outside central cities of metropolitan areas (suburbs), a rate that is not statistically 

different from the 47 percent built in the nation’s 

central cities. About 6 percent of new rental units 

were completed outside of metropolitan areas and 

77-percent of them were absorbed after 3 months. 

This absorption rate exceeded those of units built 

in central cities and in suburbs, which did not differ 

from each other (Table 3).

• Of the 155,000 unfurnished rental apartments 

completed in 2004, 96 percent had air conditioning 

available, while 74 percent had a swimming pool 

available. About 8 percent included electricity in 

the monthly rent, and 10 percent included the cost 

of natural gas for heating (Table 4). 

• About 59,600 condominium and cooperative apartments were completed in 2004, some 17,700 more 

than the 41,900 such completions in 2003. Within 

3 months, 73 percent of these units completed in 

2004 had been sold (absorbed). The South, with 

50 percent of new condominium and cooperative 

completions in 2004 had a larger proportion than 

any other region, followed by the West with 23 percent. The Midwest (15 percent) and Northeast (12 

percent) had the least and did not differ statistically 

(Table 5).

• The median asking price for all condominium apartments built in 2004 was $265,100—not statistically 

different from the 2003 median asking price of 

$239,200 (in 2004 dollars; $233,000 in 2003 dollars). Eighty-six percent of all new condominiums 

built in 2004 had two bedrooms or more (Table 6).

• Forty-five percent of newly built condominiums had 

a median asking price above $300,000, a larger 

proportion than in any of the other asking-price 

ranges. Comparisons of 3-month absorption rates 

for units in each of the asking-price ranges showed 

no statistical differences (Table 6).

• Approximately 285,400 apartments in residential 

buildings with five units or more were completed in 

2004, about 24,400 units more than the 261,000 

total completions in 2003, but not statistically 

different from the completions in any other year 

dating back to 1999. The only statistically 

Table 1. Unfurnished Apartments Completed by Rent and Number of Bedrooms for the United

States and Regions: 2004

[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 West

United

States Northeast Midwest South West

Total. . . . . . . . . . . . . . . 155,000 13,100 31,700 73,000 37,100 100 100 100 100 100

Asking Rent

Less than $650 . . . . . . . 18,700 100 8,100 8,100 2,400 12 1 26 11 6

$650 to $749 . . . . . . . . . 19,300 200 5,500 12,000 1,600 13 1 17 17 4

$750 to $849 . . . . . . . . . 18,000 200 5,300 9,100 3,500 12 1 16 12 9

$850 to $949 . . . . . . . . . 17,900 500 4,300 9,700 3,400 12 4 14 13 9

$950 to $1,049. . . . . . . . 14,500 400 1,900 8,500 3,600 9 3 6 12 10

$1,050 or more . . . . . . . 66,600 11,700 6,600 25,600 22,600 43 89 21 35 61

Median asking rent . . . . $974 $1,050+ $791 $925 $1,050+ (X) (X) (X) (X) (X)

Bedrooms

No bedroom . . . . . . . . . . 4,800 500 400 2,100 1,700 3 4 1 3 5

1 bedroom. . . . . . . . . . . . 53,500 5,100 9,200 25,500 13,700 35 39 29 35 37

2 bedrooms. . . . . . . . . . . 77,000 6,800 16,900 35,500 17,900 50 52 53 49 48

3 bedrooms or more . . . 19,700 700 5,200 9,900 3,900 13 6 16 14 11

X Not applicable.

Source: U.S. Census Bureau, Survey of Market Absorption, 2004.

1

U.S. Census Bureau
Characteristics of Apartments Completed: Annual 2004 3

U.S. Census Bureau

SAMPLE DESIGN

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

data concerning the rate at which privately financed, 

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, asking rent, and asking 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 geographic locations that 

issue permits is chosen within each of the selected 

PSUs. All newly constructed buildings with five units or 

more within sampled places and a subsample of buildings with one to four units are included in the SOC.

For the SOMA, the Census Bureau selects, 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 in areas that do not issue permits. In 

each of the subsequent four quarters, the proportion 

of units in the quarterly sample that are sold or rented 

(absorbed) are recorded, providing data for absorption 

rates 3, 6, 9, and 12 months after completion.

ESTIMATION

Beginning with data on completions in the fourth quarter of 1990 (which formed the base for absorptions in 

the first quarter of 1991), the Census Bureau modified 

the estimation procedure and applied the new estimation procedure to data for the other 3 quarters of 1990 

so that annual estimates using the same methodology 

for 4 quarters could be derived. The Census Bureau did 

not perform any additional re-estimation of past data.

Using the original estimation procedure, the Census 

Bureau created design-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 

design-unbiased estimate by the following ratioestimate factor for the country as a whole provides 

the following estimate:

total units in buildings with five units or more in permitissuing areas as estimated by the SOC for that quarter

total units in buildings with five units or more as 

 estimated by the SOMA for that quarter 

significant difference in total completions during 

that time span was between 2004 and 2003, when 

the number of units built were also less than in each 

of the preceding four years. Fifty-four percent of 

2004 completions were nonsubsidized, unfurnished 

rental apartments; 20 percent were subsidized and 

tax credit units; 21 percent were condominiums and 

cooperatives; 2 percent were furnished rental units; 

and the remaining 4 percent were not in the scope 

of the survey (Table 8).

CHARACTERISTICS OF THE DATA

All statistics from the SOMA refer to apartments in 

newly constructed buildings with five units or more. 

Absorption rates reflect the first time an apartment 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 subsidized 

and tax credited are those built under two Department 

of Housing and Urban Development programs (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. Time-share units, continuing care retirement 

units, and turnkey units (privately built for and sold to 

local public housing authorities after completion) are 

outside the scope of the survey.

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 of the totals for 

all types of 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.

NOTE TO DATA USERS

The SOMA adopted new ratio estimation procedures 

in 1990 to derive more accurate estimates of completions.2

 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.

2 See ESTIMATION section below.

3 See the January 2005 issue of “Housing Starts,”

Current Construction Reports, Series C20, for details of 

this survey.
4 Characteristics of Apartments Completed: Annual 2004

U.S. Census Bureau

Beginning with January 2001 completions, the SOC 

revised its methodology for estimating the number 

of units completed for 5+ multi-unit structures. See 

http://www.census.gov/ftp/pub/const/www

/new_methodology_const.html for these changes. 

Thus, caution is required when comparing data from 

2001 and forward to any estimates prior to 2001.

In the modified estimation procedure, instead of applying a single ratio-estimate factor for the entire country, 

the Census Bureau computes separate ratio-estimate 

factors for each of the four geographic 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 that 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 about 

which data were obtained. The noninterviewed and 

not-accounted-for cases constitute less than 2 percent 

of the sample housing units in this survey.

ACCURACY OF THE ESTIMATES

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 these.

Two types of possible errors are associated with data 

from sample surveys: nonsampling and sampling. 

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 data processing errors. Although 

no direct measurements of any bias that might result 

from nonsampling errors has 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 provides a measure of this variation 

and, thus, is a measure of the precision with which 

an estimate from a sample approximates the average 

result from all possible samples. 

If all possible samples were selected, if each was 

surveyed under the same general conditions, and if 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 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.
Characteristics of Apartments Completed: Annual 2004 5

U.S. Census Bureau

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, 77,000.

• 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 

77,000 is about 2.9 percent.

• The length of the interval that contains the median. 

In this example, the median lies between $950 and 

$1,049. The length of the interval is $100.

• The estimated proportion of the base falling in the 

interval that contains the median: in this example, 

10 percent (7,700 two-bedroom units renting for 

$950 to $1,049 divided by 77,000 two-bedroom 

units). The standard error of the median is obtained 

by using the following approximation:

 

For this example, the standard error of the median of 

$796 is:

 2.9 x 100/10 = $29 

Therefore, 1.6 standard errors equals $46. Consequently, an approximate 90-percent confidence interval 

for the median asking rent of $999 is between $953 

and $1,045 ($999 plus or minus $46).

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 Tables B and C present standard errors 

for 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 

77,000 new two-bedroom apartments built in 2004. 

Table A shows the standard error of an estimate of 

this size to be approximately 4,360. To obtain a 

90-percent confidence interval, multiply 4,360 by 1.6 

and add and subtract the result from 77,000, yielding 

limits of 70,020 and 83,980. The average estimate of 

these units completed in 2004 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 two-bedroom apartments is 60 

percent. Table B shows the standard error on a 60 percent rate on a base of 77,000 to be approximately 2.8 

percent. Multiply 2.8 by 1.6 (yielding 4.5) and add and 

subtract the result from 60. The 90-percent confidence 

interval for the absorption rate of 60 percent is from 

55 percent to 65 percent. 

Table 2 also shows that the median asking rent for the 

estimated 77,000 two-bedroom apartments was $999. 

The standard error of this median is about $29. 

x

interval containing 

the sample median

estimated proportion of the base 

falling within the interval 

containing the sample median

standard error of

median = σ50%
6 Characteristics of Apartments Completed: Annual 2004

U.S. Census Bureau

Figure 2.

Median Asking Rent/Price for Unfurnished Rental and Condominium Apartments 

Completed in 2004

Dollars Thousands of dollars

974

1,050*

791 265.1

233.4

139.6

300.0*

234.6

Source: U.S. Census Bureau, Survey of Market Absorption, 2004.

Figure 1.

Percent Distribution of New Unfurnished Rental and New Condominium and Cooperative

Units Completed by Region: 2004

Unfurnished Rental

Apartments

Condominium and Cooperative

Apartments

Midwest

20%

South

47%

West

24%

Northeast

8%

Midwest

15%

South

50%

West

23%

Northeast

12%

Source: U.S. Census Bureau, Survey of Market Absorption, 2004.

925

1,050*

*Northeast and West median asking rent is $1,050 or more. *South median asking price is $300,000 or more.

0

300

600

900

1,200

United Northeast* Midwest South West*

States

0

100

200

300

400

United Northeast Midwest South* West

States
Characteristics of Apartments Completed: Annual 2004 7

U.S. Census Bureau

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

Number of Bedrooms for the United States and Regions: 2004

[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 . . . . . . . . . . . 155,000 13,100 31,700 73,000 37,100 62 75 59 60 65

Less than $650. . . . . . . . . . 18,700 100 8,100 8,100 2,400 70 89 71 67 77

$650 to $749. . . . . . . . . . . . 19,300 200 5,500 12,000 1,600 60 93 47 64 69

$750 to $849. . . . . . . . . . . . 18,000 200 5,300 9,100 3,500 66 100 67 64 67

$850 to $949. . . . . . . . . . . . 17,900 500 4,300 9,700 3,400 53 21 42 54 68

$950 to $1,049 . . . . . . . . . . 14,500 400 1,900 8,500 3,600 61 89 69 55 66

$1,050 or more. . . . . . . . . . 66,600 11,700 6,600 25,600 22,600 63 77 57 58 62

Median asking rent . . . . . . $974 $1,050+ $791 $925 $1,050+ (X) (X) (X) (X) (X)

No bedroom . . . . . . . . . . 4,800 500 400 2,100 1,700 69 77 65 67 71

Less than $850. . . . . . . . . . 2,900 100 200 1,400 1,200 75 100 86 70 78

$850 or more . . . . . . . . . . . 1,900 500 200 700 500 60 75 39 62 54

Median asking rent . . . . . . $753 $1,050+ $779 $665 $740 (X) (X) (X) (X) (X)

1 bedroom . . . . . . . . . . . . 53,500 5,100 9,200 25,500 13,700 64 74 64 63 63

Less than $650. . . . . . . . . . 9,000 (Z) 4,500 4,300 300 69 100 72 65 88

$650 to $749. . . . . . . . . . . . 7,600 200 900 5,800 700 65 93 38 67 78

$750 to $849. . . . . . . . . . . . 7,500 100 1,600 4,000 1,800 64 100 69 59 69

$850 to $949. . . . . . . . . . . . 5,300 500 800 2,800 1,100 51 19 34 57 62

$950 to $1,049 . . . . . . . . . . 4,100 200 100 2,600 1,200 62 76 52 59 67

$1,050 or more. . . . . . . . . . 20,000 4,200 1,400 5,900 8,500 66 80 67 65 60

Median asking rent . . . . . . $900 $1,050+ $664 $815 $1,050+ (X) (X) (X) (X) (X)

2 bedrooms . . . . . . . . . . . 77,000 6,800 16,900 35,500 17,900 60 81 54 56 64

Less than $650. . . . . . . . . . 6,600 (Z) 2,900 2,600 1,000 66 (Z) 66 69 56

$650 to $749. . . . . . . . . . . . 10,100 (Z) 4,500 4,900 700 56 (Z) 49 63 57

$750 to $849. . . . . . . . . . . . 8,000 100 2,800 4,300 700 68 100 67 69 60

$850 to $949. . . . . . . . . . . . 9,900 (Z) 2,700 5,200 1,900 50 (Z) 40 48 71

$950 to $1,049 . . . . . . . . . . 7,700 200 1,000 4,700 1,800 60 100 78 53 61

$1,050 to $1,149 . . . . . . . . 6,800 1,800 900 3,300 900 62 64 70 56 68

$1,150 or more. . . . . . . . . . 27,900 4,600 2,000 10,400 10,800 60 86 28 51 64

Median asking rent . . . . . . $999 $1,150+ $786 $963 $1,150+ (X) (X) (X) (X) (X)

3 bedrooms or more . . . 19,700 700 5,200 9,900 3,900 64 32 68 62 72

Less than $650. . . . . . . . . . 1,000 − 600 100 400 78 (X) 78 46 88

$650 to $749. . . . . . . . . . . . 1,300 − 100 1,100 (Z) 51 (X) 41 51 79

$750 to $849. . . . . . . . . . . . 2,000 − 800 600 500 72 (X) 67 64 88

$850 to $949. . . . . . . . . . . . 2,200 − 700 1,400 200 66 (X) 63 66 79

$950 to $1,049 . . . . . . . . . . 2,300 − 700 1,000 600 62 (X) 58 54 81

$1,050 to $1,149 . . . . . . . . 2,100 (Z) 700 1,100 300 73 (Z) 90 67 53

$1,150 or more. . . . . . . . . . 8,700 700 1,500 4,600 1,900 61 31 63 64 64

Median asking rent . . . . . . $1,099 $1,150+ $1,001 $1,121 $1,139 (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, Survey of Market Absorption, 2004.

7

U.S. Census Bureau
8 Characteristics of Apartments Completed: Annual 2004

U.S. Census Bureau

Table 3. Unfurnished Apartments Completed and 3-Month Absorption Rate by Rent and

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

2004

[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

areas

United

States

Inside metropolitan areas

Outside

metropolitan

areas

In

central city

Not in

central city

In

central city

Not in

central city

Total. . . . . . . . . . . . . . 155,000 73,100 71,800 10,100 62 62 60 77

Less than $650 . . . . . . . . . . . . 18,700 9,100 4,800 4,800 70 71 62 77

$650 to $749 . . . . . . . . . . . . . . 19,300 10,200 8,200 900 60 63 59 27

$750 to $849 . . . . . . . . . . . . . . 18,000 7,200 9,100 1,700 66 63 65 84

$850 to $949 . . . . . . . . . . . . . . 17,900 6,600 11,000 300 53 53 52 64

$950 to $1,049. . . . . . . . . . . . . 14,500 7,300 7,000 200 61 61 60 100

$1,050 or more . . . . . . . . . . . . 66,600 32,700 31,600 2,300 63 62 61 90

Median asking rent . . . . . . . . . $974 $997 $988 $678 (X) (X) (X) (X)

No bedroom . . . . . . . . . . . . . 4,800 3,800 800 200 69 73 46 94

Less than $850 . . . . . . . . . . . . 2,900 2,300 400 200 75 80 40 94

$850 or more . . . . . . . . . . . . . . 1,900 1,500 400 − 60 62 53 (X)

Median asking rent . . . . . . . . . $753 $704 $841 $650− (X) (X) (X) (X)

1 bedroom. . . . . . . . . . . . . . . 53,500 27,300 24,100 2,100 64 64 64 82

Less than $650 . . . . . . . . . . . . 9,000 4,500 2,600 2,000 69 67 64 81

$650 to $749 . . . . . . . . . . . . . . 7,600 2,400 5,100 (Z) 65 68 63 (Z)

$750 to $849 . . . . . . . . . . . . . . 7,500 2,700 4,800 (Z) 64 59 66 (Z)

$850 to $949 . . . . . . . . . . . . . . 5,300 2,700 2,500 − 51 48 54 (X)

$950 to $1,049. . . . . . . . . . . . . 4,100 2,400 1,800 − 62 62 62 (X)

$1,050 or more . . . . . . . . . . . . 20,000 12,600 7,400 − 66 66 66 (X)

Median asking rent . . . . . . . . . $900 $1,007 $841 $650− (X) (X) (X) (X)

2 bedrooms. . . . . . . . . . . . . . 77,000 31,300 40,300 5,400 60 60 58 72

Less than $650 . . . . . . . . . . . . 6,600 2,400 1,800 2,400 66 68 55 71

$650 to $749 . . . . . . . . . . . . . . 10,100 6,400 3,000 800 56 63 52 20

$750 to $849 . . . . . . . . . . . . . . 8,000 2,800 3,800 1,400 68 60 65 89

$850 to $949 . . . . . . . . . . . . . . 9,900 2,400 7,500 100 50 55 49 50

$950 to $1,049. . . . . . . . . . . . . 7,700 3,300 4,300 100 60 61 58 100

$1,050 to $1,149 . . . . . . . . . . . 6,800 1,900 4,900 (Z) 62 59 62 (Z)

$1,150 or more . . . . . . . . . . . . 27,900 12,100 15,000 700 60 57 61 94

Median asking rent . . . . . . . . . $999 $1,000 $1,044 $685 (X) (X) (X) (X)

3 bedrooms or more . . . . . . 19,700 10,700 6,600 2,400 64 64 60 81

Less than $650 . . . . . . . . . . . . 1,000 400 400 200 78 78 75 85

$650 to $749 . . . . . . . . . . . . . . 1,300 1,100 100 100 51 49 89 63

$750 to $849 . . . . . . . . . . . . . . 2,000 1,400 300 300 72 76 72 52

$850 to $949 . . . . . . . . . . . . . . 2,200 1,100 900 200 66 59 75 68

$950 to $1,049. . . . . . . . . . . . . 2,300 1,400 800 100 62 57 67 100

$1,050 to $1,149 . . . . . . . . . . . 2,100 900 500 800 73 64 55 94

$1,150 or more . . . . . . . . . . . . 8,700 4,300 3,700 700 61 65 52 82

Median asking rent . . . . . . . . . $1,099 $1,040 $1,150+ $1,095 (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, Survey of Market Absorption, 2004.

1

U.S. Census Bureau
Characteristics of Apartments Completed: Annual 2004 9

U.S. Census Bureau

Table 4. Unfurnished Apartments Completed and 3-Month Absorption Rate by Amenities and

Utilities for the United States: 2004

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155,000 100 62

AMENITIES

Swimming pool

Available

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111,600 72 62

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,600 2 98

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,800 26 61

Parking

Available

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143,500 93 62

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,400 5 53

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,100 3 68

Air-conditioning

Available. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148,700 96 62

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,300 4 64

Dishwasher

Available. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151,500 98 62

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,500 2 63

UTILITIES

Electricity

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,900 8 53

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143,100 92 63

Gas

Available

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,100 10 56

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,400 40 65

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77,500 50 61

Source: U.S. Census Bureau, Survey of Market Absorption, 2004.

1

U.S. Census Bureau
10 Characteristics of Apartments Completed: Annual 2004

U.S. Census Bureau

Table 5. Condominium and Cooperative Apartments Completed and 3-Month Absorption Rate

by Number of Bedrooms and Geography: 2004

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59,600 100 73

BEDROOMS

Fewer than 2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,100 14 71

2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,200 59 72

3 bedrooms or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,200 27 77

REGION

Northeast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,900 12 71

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000 15 62

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,800 50 74

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,700 23 79

AREA

Inside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,500 81 71

In central city. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,900 50 70

Not in central city (suburbs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,600 31 72

Outside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,100 19 84

Source: U.S. Census Bureau, Survey of Market Absorption, 2004.

1

U.S. Census Bureau
Characteristics of Apartments Completed: Annual 2004 11

U.S. Census Bureau

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

Number of Bedrooms, and Geography: 2004

[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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58,900 100 73 $265,100

ASKING PRICE

Less than $125,000 . . . . . . . . . . . . . . . . . . . . . . . . 9,300 16 67 (X)

$125,000 to $149,999. . . . . . . . . . . . . . . . . . . . . . . 5,600 10 67 (X)

$150,000 to $199,999. . . . . . . . . . . . . . . . . . . . . . . 8,700 15 75 (X)

$200,000 to $249,999. . . . . . . . . . . . . . . . . . . . . . . 4,600 8 78 (X)

$250,000 to $299,999. . . . . . . . . . . . . . . . . . . . . . . 4,000 7 65 (X)

$300,000 or more . . . . . . . . . . . . . . . . . . . . . . . . . . 26,700 45 77 (X)

BEDROOMS

Fewer than 2 bedrooms . . . . . . . . . . . . . . . . . . . . . 8,000 14 71 $257,100

2 bedrooms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,900 59 72 $208,400

3 bedrooms or more . . . . . . . . . . . . . . . . . . . . . . . . 16,100 27 77 $350,000+

REGION

Northeast. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,900 12 71 $233,400

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,900 15 62 $139,600

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,400 50 75 $300,000+

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,700 23 79 $234,600

AREA

Inside metropolitan areas. . . . . . . . . . . . . . . . . . . . 48,000 81 71 $250,700

In central city . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,500 50 70 $300,000+

Not in central city (suburbs) . . . . . . . . . . . . . . . 18,500 31 72 $182,800

Outside metropolitan areas . . . . . . . . . . . . . . . . . . 10,900 19 84 $300,000+

X Not applicable.

Source: U.S. Census Bureau, Survey of Market Absorption, 2004.

1

U.S. Census Bureau
12 Characteristics of Apartments Completed: Annual 2004

U.S. Census Bureau

Table 7. Furnished Apartments Completed and 3-Month Absorption Rate by Asking Rent,

Number of Bedrooms, and Geography: 2004

[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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,400 100 76 $1,050+

ASKING RENT

Less than $850 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,600 35 47 (X)

$850 or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,900 65 92 (X)

BEDROOMS

Fewer than 2 bedrooms . . . . . . . . . . . . . . . . . . . . . 1,000 22 70 $650−

2 bedrooms or more . . . . . . . . . . . . . . . . . . . . . . . . 3,400 77 79 $1,150+

REGION

Northeast. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . − − − (X)

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 12 44 $1,050+

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,300 51 76 $1,050+

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,700 38 87 $1,050+

AREA

Inside metropolitan areas. . . . . . . . . . . . . . . . . . . . 3,900 89 79 $1,050+

In central city . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,200 73 76 $1,050+

Not in central city (suburbs) . . . . . . . . . . . . . . . 700 16 92 $650−

Outside metropolitan areas . . . . . . . . . . . . . . . . . . 500 11 52 $1,050+

− Represents zero. X Not applicable.

Source: U.S. Census Bureau, Survey of Market Absorption, 2004.

1

U.S. Census Bureau
Characteristics of Apartments Completed: Annual 2004 13

U.S. Census Bureau

Table 8. Total Apartments Completed in Buildings With Five Units or More: 1970 to 2004

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

Year

Total

Unfurnished

apartments

Furnished

apartments

Condominiums and

cooperatives

Subsidized and

Tax Credit* Other1

Number Percent Number Percent Number Percent Number Percent Number Percent

2004. . . . . . . . . . . . . 285,400 155,000 54 4,400 2 59,600 21 55,700 20 10,800 4

2003. . . . . . . . . . . . . 261,000 167,800 64 2,200 1 41,900 16 37,800 15 11,300 4

2002. . . . . . . . . . . . . 288,100 204,100 71 3,100 1 37,400 13 32,100 11 11,500 4

2001. . . . . . . . . . . . . 281,000 193,100 69 4,500 2 45,700 16 26,700 10 11,100 4

2000. . . . . . . . . . . . . 300,000 226,200 75 2,900 1 36,100 12 24,400 8 10,500 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 23,300 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.

* Beginning with data in the second quarter of 2004, the category was expanded to include units built under the Low Income Housing Tax

Credit program.

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, Survey of Market Absorption, 2004.

13

U.S. Census Bureau
14 Characteristics of Apartments Completed: Annual 2004

U.S. Census Bureau

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

Completions in 2004

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,Survey of Market Absorption, 2004.

14

U.S. Census Bureau

Table B. Standard Errors of Estimated Percentages for Rental Apartments: Completions in 2004

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, Survey of Market Absorption, 2004.

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

Completions in 2004

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 28.3 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, Survey of Market Absorption, 2004.
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