U.S. Department of Commerce

Economics and Statistics Administration

U.S. CENSUS BUREAU

Issued July 2007

H131/06-A

Characteristics of Apartments

Completed: Annual 2006

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 SOMA 

show that, during 2006, a total of 

117,200 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 111,900 completions in 

2005. However, there were fewer new 

2006 unfurnished rental completions 

in every year dating back from 2004 

to 1994, in which 2006 completions 

exceeded those from 1994 by about 

13,200 (Table 8).

• The South, with 60 percent, had the 

majority of new, unfurnished rental 

completions of any region, followed 

by the West, with 24 percent. The 

Midwest (11 percent) ranked third, 

while the Northeast had the smallest 

proportion (5 percent) of new rental 

completions in 2006 (Table 1 and 

Figure 1).

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

50 percent of newly constructed 

rental apartments, followed by onebedroom units (37 percent). The third 

group comprised units with three or 

more bedrooms (11 percent), and 

the smallest group, efficiencies (no 

bedrooms), accounted for 3 percent 

of new 2006 rental completions

(Table 1).

• The median monthly asking rent for 

all unfurnished rental apartments 

completed in 2006 was $1,039—not 

statistically different from the $973 

(in 2006 dollars; $943 in 2005 dollars) median rent for unfurnished 

apartments completed in 2005 (Table 

2). Units with three or more bedrooms 

had a median asking rent of $1,194, 

about $271 greater than the median 

for one-bedroom units ($923) and 

about $119 more than that for twobedroom units ($1,075). The median 

monthly asking rent for two-bedroom 

units exceeded that for one-bedroom 

units by about $152. The median 

monthly asking rent for efficiency 

(no bedroom) units was not able to 

be tested for these comparisons as it 

exceeded the upper level of the rent 

range (Table 2).

• In 2006, about 40 percent of the completed unfurnished rental apartments 

had a median asking rent of $1,150 

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.

1

Details may not sum to totals because of rounding.
2 Characteristics of Apartments Completed: Annual 2006

U.S. Census Bureau

or more—by far the largest proportion of rental 

completions based on asking rent, followed by 

those renting for less than $750 (17 percent). Units 

renting for $850 to $949 (13 percent) comprised a 

greater proportion than the 9 percent in the $1,050 

to $1,149 rent range. There were no other significant differences among the proportions of new 

unfurnished units based on asking rent (Table 1).

• The 3-month absorption rate for unfurnished rental 

apartments was 58 percent. The rate for such 

apartments renting for less than $750 (75 percent) 

exceeded the rates for all other asking rent ranges, 

except for those renting for $750 to $849 (67 percent). The only other significant difference among 

3-month absorption rates by asking rent category 

also involved those units in the $750 to $849 asking rent range, which exceeded those renting for 

$1,150 or more by 18 percentage points (Table 2).

• There were no statistically significant differences 

among 3-month absorption rates for unfurnished 

apartments built in 2006 based on number of bedrooms (Table 2).

• Fifty-five percent of new unfurnished rental units 

were completed inside principal cities of core based 

statistical areas (CBSAs), a greater proportion by 

about 12 percent than the 43 percent built outside 

the nation’s principal cities. The fewest (2 percent) 

new rental units were completed outside CBSAs and 

were absorbed at a 3-month rate of 81 percent. This 

rate exceeded by 24 percentage points the rate for 

both new units built inside and outside of principal 

cities (Table 3).

• Of the 117,200 unfurnished rental apartments 

completed in 2006, 95 percent had air conditioning 

available, while about 79 percent had a swimming 

pool available. About 8 percent included electricity in the monthly rent and 10 percent included the 

cost of natural gas (Table 4).

• About 102,800 condominium and cooperative apartments were completed in 2006, some 21,000 more 

than the 81,800 such completions in 2005. Within 

3 months, 66 percent of these units completed in 

2006 had been sold (absorbed). The South, with 

47 percent of new condominium and cooperative 

completions in 2006, had a larger proportion than 

any other region, followed by the West with 24 

percent. The proportion of new condominium and 

cooperative units built in both the Midwest and the 

Northeast did not differ statistically (Table 5).

• The median asking price for all new condominium 

apartments built in 2006 was $312,300—not statistically different from the 2005 median asking price 

of $312,900 (in 2006 dollars; $303,100 in 2005 dollars). Eighty-two percent of all new condominiums 

built in 2006 had two bedrooms or more (Table 6).

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

for the United States and Regions: 2006

[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 . . . . . . . . . . . . 117,200 6,000 12,600 69,900 28,600 100 100 100 100 100

Asking Rent

Less than $750 . . . . . . . . . 20,000 700 6,300 12,100 900 17 12 50 17 3

$750 to $849 . . . . . . . . . . . 13,500 (Z) 1,300 10,200 1,900 12 (Z) 10 15 7

$850 to $949 . . . . . . . . . . . 14,700 100 1,100 10,600 2,900 13 2 9 15 10

$950 to $1,049. . . . . . . . . . 11,600 200 800 8,800 1,800 10 3 6 13 6

$1,050 to $1,149 . . . . . . . . 10,600 200 500 6,600 3,400 9 3 4 9 12

$1,150 or more . . . . . . . . . 46,700 4,700 2,700 21,700 17,600 40 80 21 31 62

Median asking rent . . . . . . $1,039 $1,150+ $752 $973 $1,150+ (X) (X) (X) (X) (X)

Bedrooms

No bedroom . . . . . . . . . . . . 3,300 300 200 1,000 1,900 3 5 1 1 7

1 bedroom. . . . . . . . . . . . . . 42,900 2,200 5,400 24,500 10,900 37 36 43 35 38

2 bedrooms. . . . . . . . . . . . . 58,200 3,300 5,800 35,600 13,500 50 56 46 51 47

3 bedrooms or more . . . . . 12,700 200 1,300 8,900 2,400 11 3 10 13 8

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, 2006.
Characteristics of Apartments Completed: Annual 2006 3

U.S. Census Bureau

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.

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 

units or more 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 units or more that 

• Forty-three percent of newly built condominiums 

had a median asking price above $350,000, a 

larger proportion than in any of the other asking 

price ranges. New condominium units selling for 

$250,000 to $299,999 accounted for 14 percent of 

new 2006 completions and exceeded the proportion 

selling between $300,000 to $349,999 (9 percent) 

by about 5 percentage points. There were no other 

statistical differences among the proportion of new 

condominium units by asking price range. The 

3-month absorption rates for condominiums selling for less than $150,000 was 51 percent. This 

rate was lower by about 23 percentage points than 

the rate for units selling for between $200,000 to 

$249,000 (74 percent) and by about 25 percent 

for condominiums with asking prices between 

$300,000 to $349,999. There were no other statistical differences among absorption rates for newly 

built condominium units in 2006 (Table 6).

• Approximately 283,500 apartments in residential 

buildings with five units or more were completed in 

2006, about 25,500 units more than the 258,000 

total completions in 2005, but not statistically different from total completions in 2004. Total 2006 

apartment completions, in fact, did not differ from 

any other year dating back to 1998, except for 

exceeding 2003 total completions by about 22,500 

units (completions in 2005 and 2003 did not differ). Forty-one percent of 2006 completions were 

nonsubsidized, unfurnished rental apartments; 19 

percent were subsidized and tax credit units; 36 

percent were condominiums and cooperatives; 

1 percent were furnished rental units; and the 

remaining 3 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 U.S. 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 

2

See ESTIMATION section.

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 2006

U.S. Census Bureau

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 three 

quarters of 1990 so that annual estimates using the 

same methodology for four quarters could be derived. 

The Census Bureau did not perform any additional 

reestimation 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 ratio-estimate 

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 

Beginning with January 2001 completions, the SOC 

revised its methodology for estimating the number 

of units completed for 5+ multiunit structures. See 

<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 
Characteristics of Apartments Completed: Annual 2006 5

U.S. Census Bureau

Table 2 also shows that the rate of absorption after 

3 months for these one-bedroom apartments built in 

the South is 65 percent. Table B shows the standard 

error on a 55 percent rate on a base of 24,500 to be 

approximately 5.0 percent. Multiply 5.0 by 1.6 (yielding 8.0) and add and subtract the result from 65. The 

90-percent confidence interval for the absorption rate 

of 65 percent is from 57 percent to 73 percent.

Table 2 also shows that the median asking rent for the 

estimated 24,500 one-bedroom apartments was $868. 

The standard error of this median is about $29. 

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, 24,500.

• The estimated standard error from Table B of a 50-

percent characteristic on the base of the median 

(50 percent). In this example, the estimated standard 

error of a 50-percent characteristic with the base of 

24,500 is about 5.3 percent.

• The length of the interval that contains the median. 

In this example, the median lies between $850 and 

$949. The length of the interval is $100.

• The estimated proportion of the base falling in the 

interval that contains the median: in this example, 

18 percent (4,300 one-bedroom units renting for 

$850 to $949 divided by 24,500 total one-bedroom 

units built in the South).

The standard error of the median is obtained by using 

the following approximation:

For this example, the standard error of the median of 

$868 is:

5.3 x 100/18 = $29

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

for the median asking price of $868 is between $822 

and $914 ($868 plus or minus $46).

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.

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 

24,500 new one-bedroom apartments built in the 

South in 2006. Table A shows the standard error of 

an estimate of this size to be approximately 2,470. To 

obtain a 90-percent confidence interval, multiply 2,470 

by 1.6 and add and subtract the result from 24,500, 

yielding limits of 20,550 and 28,450. The average estimate of these units completed in 2006 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.

x

length of 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 2006

U.S. Census Bureau

Figure 2.

Median Asking Rent/Price for Unfurnished Rental and Condominium Apartments 

Completed in 2006

 Dollars Thousands of dollars

1039

1,150*

752

312.3

350.0*

211.5

294.0

328.4

Source: U.S. Census Bureau, Survey of Market Absorption, 2006.

Figure 1.

Percent Distribution of New Unfurnished Rental and New Condominium and Cooperative

Units Completed by Region: 2006

Unfurnished Rental 

Apartments

Condominium and Cooperative 

Apartments

Midwest

South 11%

60%

West

24%

Northeast

5%

Midwest

13%

South

47%

West

24%

Northeast

17%

Source: U.S. Census Bureau, Survey of Market Absorption, 2006.

973

1,150*

*Northeast and West median asking rent is $1,050 or more. *Northeast median asking price is $350,000 or more.

0

300

600

900

1200

United Northeast* Midwest South West*

 States

0

100

200

300

400

United Northeast* Midwest South West

States

Unfurnished Rental Apartments Condominium Apartments
Characteristics of Apartments Completed: Annual 2006 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: 2006

[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 . . . . . . . . . . . . 117,200 6,000 12,600 69,900 28,600 58 41 58 60 56

Less than $750. . . . . . . . . . 20,000 700 6,300 12,100 900 75 93 75 76 61

$750 to $849. . . . . . . . . . . . 13,500 (Z) 1,300 10,200 1,900 67 (Z) 66 66 72

$850 to $949. . . . . . . . . . . . 14,700 100 1,100 10,600 2,900 58 78 33 60 61

$950 to $1,049 . . . . . . . . . . 11,600 200 800 8,800 1,800 52 83 37 51 58

$1,050 to $1,149 . . . . . . . . 10,600 200 500 6,600 3,400 54 99 30 56 53

$1,150 or more. . . . . . . . . . 46,700 4,700 2,700 21,700 17,600 49 29 36 53 53

Median asking rent . . . . . . $1,039 $1,150+ $752 $973 $1,150+ (X) (X) (X) (X) (X)

No bedroom . . . . . . . . . . 3,300 300 200 1,000 1,900 62 30 26 79 61

Less than $950. . . . . . . . . . 700 (Z) 100 100 400 71 (Z) 33 58 87

$950 or more . . . . . . . . . . . 2,600 300 100 800 1,500 59 26 14 83 54

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

1 bedroom. . . . . . . . . . . . 42,900 2,200 5,400 24,500 10,900 61 47 55 65 57

Less than $750. . . . . . . . . . 9,400 (Z) 3,300 5,700 400 75 (Z) 73 77 66

$750 to $849. . . . . . . . . . . . 7,300 − 300 5,800 1,200 67 (X) 58 68 66

$850 to $949. . . . . . . . . . . . 6,500 (Z) 300 4,300 1,800 60 (Z) 19 63 58

$950 to $1,049 . . . . . . . . . . 3,800 200 200 2,700 700 58 82 22 60 54

$1,050 to $1,149 . . . . . . . . 3,000 200 300 1,500 1,000 57 100 − 59 62

$1,150 or more. . . . . . . . . . 13,000 1,700 1,100 4,500 5,800 49 36 30 55 53

Median asking rent . . . . . . $923 $1,150+ $750− $868 $1,150+ (X) (X) (X) (X) (X)

2 bedrooms. . . . . . . . . . . 58,200 3,300 5,800 35,600 13,500 54 38 59 55 52

Less than $750. . . . . . . . . . 9,100 700 2.400 5,600 400 74 92 75 73 41

$750 to $849. . . . . . . . . . . . 5,300 (Z) 800 4,000 500 65 (Z) 65 62 85

$850 to $949. . . . . . . . . . . . 7,200 (Z) 600 5,700 900 55 (Z) 39 56 60

$950 to $1,049 . . . . . . . . . . 6,000 (Z) 400 4,700 900 47 (Z) 42 44 63

$1,050 to $1,149 . . . . . . . . 6,100 − 200 3,800 2,100 52 (X) 74 56 44

$1,150 to $1,249 . . . . . . . . 4,200 200 100 3,000 1,000 53 94 67 52 49

$1,250 or more. . . . . . . . . . 20,400 2,400 1,300 8,900 7,800 45 18 36 48 50

Median asking rent . . . . . . $1,075 $1,250+ $806 $1005 $1,250+ (X) (X) (X) (X) (X)

3 bedrooms or more . . . 12,700 200 1,300 8,900 2,400 63 56 73 61 69

Less than $750. . . . . . . . . . 1,200 − 500 700 (Z) 94 (X) 96 93 (Z)

$750 to $849. . . . . . . . . . . . 700 − 200 500 100 85 (X) 92 81 100

$850 to $949. . . . . . . . . . . . 900 − 200 600 100 70 (X) 37 77 98

$950 to $1,049 . . . . . . . . . . 1,500 − 200 1,200 200 51 (X) 41 53 39

$1,050 to $1,149 . . . . . . . . 1,500 − (Z) 1,300 200 55 (X) (Z) 50 90

$1,150 to $1,249 . . . . . . . . 1,400 − 100 1,000 200 52 (X) 77 51 41

$1,250 or more. . . . . . . . . . 5,600 200 100 3,700 1,600 62 56 55 58 71

Median asking rent . . . . . . $1,194 $1,250+ $848 $1,174 $1,250+ (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, 2006.

1

U.S. Census Bureau
8 Characteristics of Apartments Completed: Annual 2006

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:

2006

[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 CBSA*

Outside

CBSA*

United

States

Inside CBSA*

Outside

CBSA*

Inside

principal city

Outside

principal city

Inside

principal city

Outside

principal city

Total . . . . . . . . . . . . . . . 117,200 64,500 49,800 2,900 58 57 57 81

Less than $750 . . . . . . . . . . . . 20,000 9,500 8,600 1,900 75 75 72 94

$750 to $849 . . . . . . . . . . . . . . 13,500 7,300 5,900 300 67 65 67 96

$850 to $949 . . . . . . . . . . . . . . 14,700 7,900 6,800 100 58 59 57 100

$950 to $1,049. . . . . . . . . . . . . 11,600 6,600 5,100 − 52 50 55 (X)

$1,050 to $1,149 . . . . . . . . . . . 10,600 5,500 5,100 − 54 58 51 (X)

$1,150 or more . . . . . . . . . . . . 46,700 27,800 18,300 600 49 50 50 31

Median asking rent . . . . . . . . . $1,039 $1,069 $1,021 $750− (X) (X) (X) (X)

No bedroom . . . . . . . . . . . . . 3,300 2,200 1000 100 62 65 56 14

Less than $950 . . . . . . . . . . . . 700 500 200 − 71 82 47 (X)

$950 or more . . . . . . . . . . . . . . 2,600 1,800 800 100 59 61 59 14

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

1 bedroom . . . . . . . . . . . . . . 42,900 25,100 17,300 600 61 61 61 42

Less than $750 . . . . . . . . . . . . 9,400 5,100 4,100 200 75 81 66 100

$750 to $849 . . . . . . . . . . . . . . 7,300 4,500 2,800 − 67 65 70 (X)

$850 to $949 . . . . . . . . . . . . . . 6,500 2,900 3,600 − 60 58 61 (X)

$950 to $1,049. . . . . . . . . . . . . 3,800 2,000 1,800 − 58 60 56 (X)

$1,050 to $1,149 . . . . . . . . . . . 3,000 1,900 1,000 − 57 63 48 (X)

$1,150 or more . . . . . . . . . . . . 13,000 8,700 3,900 400 49 48 55 16

Median asking rent . . . . . . . . . $923 $952 $898 $1,150+ (X) (X) (X) (X)

2 bedrooms . . . . . . . . . . . . . 58,200 30,500 25,900 1,800 54 52 54 91

Less than $750 . . . . . . . . . . . . 9,100 3,800 3,900 1,400 74 64 76 92

$750 to $849 . . . . . . . . . . . . . . 5,300 2,300 2,700 300 65 62 64 96

$850 to $949 . . . . . . . . . . . . . . 7,200 4,300 2,900 − 55 60 48 (X)

$950 to $1,049. . . . . . . . . . . . . 6,000 3,500 2,500 − 47 40 55 (X)

$1,050 to $1,149 . . . . . . . . . . . 6,100 2,300 3,700 − 52 52 53 (X)

$1,150 to $1,249 . . . . . . . . . . . 4,200 2,200 2,000 − 53 54 53 (X)

$1,150 or more . . . . . . . . . . . . 20,400 12,100 8,200 100 45 46 42 75

Median asking rent . . . . . . . . . $1,075 $1,109 $1,074 $750− (X) (X) (X) (X)

3 bedrooms or more. . . . . . 12,700 6,700 5,600 400 63 63 61 100

Less than $750 . . . . . . . . . . . . 1,200 400 400 400 94 89 94 100

$750 to $849 . . . . . . . . . . . . . . 700 400 300 − 85 88 81 (X)

$850 to $949 . . . . . . . . . . . . . . 900 500 300 100 70 53 88 100

$950 to $1,049. . . . . . . . . . . . . 1,500 800 700 − 51 50 51 (X)

$1,050 to $1,149 . . . . . . . . . . . 1,500 1,100 400 − 55 61 38 (X)

$1,150 to $1,249 . . . . . . . . . . . 1,400 700 700 − 52 48 55 (X)

$1,250 or more . . . . . . . . . . . . 5,600 2,800 2,800 (Z) 62 66 57 (Z)

Median asking rent . . . . . . . . . $1,194 $1,174 $1,246 $750− (X) (X) (X) (X)

*Core Based Statistical Area.

− 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, 2006.

1

U.S. Census Bureau
Characteristics of Apartments Completed: Annual 2006 9

U.S. Census Bureau

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

Utilities for the United States: 2006

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117,200 100 58

AMENITIES

Swimming pool

Available

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92,400 79 60

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 (Z) 97

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,600 21 49

Parking

Available

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,600 90 58

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,200 6 51

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,300 4 51

Air-conditioning

Available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111,600 95 57

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,500 5 56

Dishwasher

Available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114,100 97 58

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,100 3 52

UTILITIES

Electricity

Included in rent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000 8 40

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108,100 92 59

Gas

Available

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,200 10 48

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,700 34 58

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,300 56 59

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

Source: U.S. Census Bureau, Survey of Market Absorption, 2006.

1

U.S. Census Bureau
10 Characteristics of Apartments Completed: Annual 2006

U.S. Census Bureau

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

by Number of Bedrooms and Geography: 2006

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,800 100 66

BEDROOMS

Fewer than 2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,200 18 75

2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59,600 58 65

3 bedrooms or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,000 24 63

REGION

Northeast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,700 17 49

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,800 13 41

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,000 47 75

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 24 76

AREA

Inside CBSA* areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98,200 96 65

Inside principal city . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,300 50 71

Outside principal city . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,000 46 59

Outside CBSA* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,600 4 89

*Core Based Statistical Area.

Source: U.S. Census Bureau, Survey of Market Absorption, 2006.

1

U.S. Census Bureau
Characteristics of Apartments Completed: Annual 2006 11

U.S. Census Bureau

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

Number of Bedrooms, and Geography: 2005

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101,400 100 66 $312,300

ASKING PRICE

Less than $150,000 . . . . . . . . . . . . . . . . . . . . . . . . . . 11,200 11 51 (X)

$150,000 to $199,999. . . . . . . . . . . . . . . . . . . . . . . . . 11,100 11 65 (X)

$200,000 to $249,999. . . . . . . . . . . . . . . . . . . . . . . . . 12,300 12 74 (X)

$250,000 to $299,999. . . . . . . . . . . . . . . . . . . . . . . . . 13,800 14 65 (X)

$300,000 to $349,999. . . . . . . . . . . . . . . . . . . . . . . . . 9,100 9 76 (X)

$350,000 or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43,800 43 67 (X)

BEDROOMS

Fewer than 2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . 18,100 18 76 $282,600

2 bedrooms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58,500 58 65 $288,600

3 bedrooms or more . . . . . . . . . . . . . . . . . . . . . . . . . . 24,800 24 63 $400,000+

REGION

Northeast. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,500 17 49 $350,000+

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,800 13 41 $211,500

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,100 46 75 $294,000

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,000 24 76 $328,400

AREA

Inside CBSA* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96,900 95 65 $320,000

Inside principal city . . . . . . . . . . . . . . . . . . . . . . . . . 50,600 50 71 $342,700

Outside principal city . . . . . . . . . . . . . . . . . . . . . . . 46,300 46 59 $291,400

Outside CBSA* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

*Core Based Statistical Area.

X Not applicable.

Source: U.S. Census Bureau, Survey of Market Absorption, 2006.

1

U.S. Census Bureau

4.600 5 89 $239,100
12 Characteristics of Apartments Completed: Annual 2006

U.S. Census Bureau

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

Number of Bedrooms, and Geography: 2006

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,300 100 31 $842

ASKING RENT

Less than $950 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 55 11 (X)

$950 or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500 46 55 (X)

BEDROOMS

Fewer than 2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . 200 5 74 $903

2 bedrooms or more . . . . . . . . . . . . . . . . . . . . . . . . . . 3,100 95 28 $750−

REGION

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

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . − (X) (X) (X)

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,200 98 31 $799

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 2 23 $1,150+

AREA

Inside CBSA* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,300 100 31 $842

Inside principal city . . . . . . . . . . . . . . . . . . . . . . . . . 600 19 68 $1,150+

Outside principal city . . . . . . . . . . . . . . . . . . . . . . . 2,700 81 22 $750−

Outside CBSA* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . − (X) (X) (X)

*Core Based Statistical Area.

− Represents zero. X Not applicable.

Source: U.S. Census Bureau, Survey of Market Absorption, 2006.

1

U.S. Census Bureau
Characteristics of Apartments Completed: Annual 2006 13

U.S. Census Bureau

Table 8. Total Apartments Completed in Buildings With Five Units or More: 1970 to 2006

[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

2006. . . . . . . . . . . . . 283,500 117,200 41 3,300 1 102,800 36 52,700 19 7,500 3

2005. . . . . . . . . . . . . 258,000 111,900 43 5,400 2 81,800 32 45,200 18 13,600 5

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

*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. 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, Survey of Market Absorption, 2006.

1

U.S. Census Bureau
14 Characteristics of Apartments Completed: Annual 2006

U.S. Census Bureau

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

Completions in 2006

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, 2006.

14

U.S. Census Bureau

Table B. Standard Errors of Estimated Percentages for Rental Apartments: Completions in 2006

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, 2006.

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

Completions in 2006

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, 2006.
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