U.S. Census Bureau 1

U.S. Department of Commerce

Economics and Statistics Administration

U.S. CENSUS BUREAU

Issued August 2000

1999

H131/99-A

Characteristics of Apartments

Completed: 1999

Current

Housing

Reports

for one-bedroom units. Larger apartments,

those with three or more bedrooms,

ranked third at 13 percent, while efficiencies (no bedrooms) accounted for only 2

percent of rental completions. This pattern

is similar to the one observed in 1998.

• The median monthly asking rent for all

unfurnished rental apartments completed

in 1999 was $788, which was $53 higher

than the $735 median rent for rental

apartments completed in 1998, and $37

higher than the 1998 inflation-adjusted

median rent of $751 (see Table 2).

• In 1999, 56 percent of the unfurnished

rental apartments had an asking rent of

$750 or more, and 71 percent of these

units were absorbed (rented) within 3

months of completion. Only 11 percent

of 1999 completions had an asking rent

below $550, and 79 percent were absorbed within 3 months. Units renting

from $550 to $749 constituted 33 percent

of total unfurnished construction in 1999,

and 72 percent were absorbed within 3

months. The absorption rate for

units renting for less than $550 was

8 percentage points higher than the rate

for units renting for $750 or more. The

other absorption rates in these three rent

categories did not differ significantly

from one another.

• No significant differences existed among

the 3-month absorption rates for efficiency apartments, one-bedroom apartments, two-bedroom apartments, and

apartments with three or more bedrooms

built in 1999.

INTRODUCTION

The Survey of Market Absorption (SOMA)

measures how soon privately financed,

nonsubsidized, unfurnished units in buildings

with five or more units are rented or sold

(absorbed) after completion. In addition, the

survey collects data on characteristics such

as number of bedrooms, asking rent, and

asking price.

HIGHLIGHTS1

• Preliminary estimates from the Survey of

Market Absorption show that during

1999, a total of 225,600 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 209,900 rental

completions in 1998, but is a 19-percent

increase over the 189,200 such units

completed in 1997. The 1999 total was

the largest number of privately financed,

nonsubsidized, unfurnished rental

apartments completed since 1989 (see

Table 8).

• More (55 percent) of these new units were

built in the South, followed by the West

with 26 percent. The Midwest with 12

percent and Northeast (7 percent) had

fewer completions than the other regions,

but did not differ significantly from one

another (see Table 1).

• Two-bedroom units were the predominant

size built, accounting for about 50

percent of newly constructed rental

apartments, compared with 35 percent

1Details may not sum to totals because of rounding.

Questions regarding these data may be directed to Housing and Household Economic Statistics Division, telephone: 301-457-3199. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington,

DC 20402.

U.S. Department of Housing

and Urban Development
2 U.S. Census Bureau

• More (54 percent) of new rental apartments in 1999

were built in suburban areas, while 41 percent were

built in the nation’s central cities. Only 5 percent of

rental apartments were built outside metropolitan

areas (MAs). There were no significant differences

among the 3-month absorption rates for rental

completions in these areas (see Table 3).

• Of the 225,600 newly built rental apartments in 1999,

92 percent had air conditioning available, while 80

percent had a swimming pool available. Only 5

percent included electricity in the monthly rent, and 7

percent included natural gas (see Table 4).

• About 33,000 condominium and cooperative apartments were completed in 1999, not significantly

different from the 34,500 such completions in 1998.

Within 3 months, 81 percent had been sold (absorbed). The Northeast (6 percent) had the fewest

condominium and cooperative completions in 1999.

The Midwest, with 19 percent had the second fewest,

while the West (33 percent) and South (41 percent)

did not differ significantly from one another (see

Table 5).

• The median asking price for all condominium apartments built in 1999 was $130,800, not significantly

different from the $117,800 asking price in 1998

nor the 1998 inflation-adjusted median asking

price of $120,400. Eighty-nine percent of all new

condominiums built in 1999 had two bedrooms or

more (see Table 6).

• For 1999, there were no significant differences among

the number of newly built condominium units with an

asking price below $100,000, those between $100,000

and $149,000, or those with an asking price of

$150,000 or more. Nor were there any significant

differences among the 3-month absorption rates for

units in each of these price ranges.

• Approximately 291,800 apartments in all residential

buildings with five units or more were completed in

1999. The estimate did not differ significantly from

the 273,900 such units completed in 1998 (Table 8).

Seventy-seven percent of 1999 completions were

nonsubsidized, unfurnished, rental apartments;

5 percent were federally subsidized units;

11 percent were condominiums and cooperatives;

3 percent were furnished rental units; and the remaining 4 percent were not in the scope of the survey.

CHARACTERISTICS OF THE DATA

All statistics from the SOMA are limited to apartments in

newly constructed buildings with five units or more.

Absorption rates are based on the first time an 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

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

United States and Regions: 1999

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

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

totals because of rounding. Medians and percents are computed using unrounded data]

Characteristic

Number of unfurnished apartments Percent distribution

United

States

Northeast Midwest South WestUnited

States

Northeast Midwest South West

Total.................. 225,600 16,800 27,900 123,300 57,600 100 100 100 100 100

ASKING RENT

Less than $450 .............. 8,600 1,200 1,500 2,700 3,200 4762 6

$450 to $549 ................ 16,200 1,900 3,000 7,500 3,800 7 12 11 6 7

$550 to $649 ................ 29,900 1,200 6,900 17,800 3,900 13 7 25 15 7

$650 to $749 ................ 44,200 1,200 6,400 27,100 9,500 20 7 23 22 16

$750 to $849 ................ 36,000 100 3,600 24,000 8,300 16 1 13 19 14

$850 or more ................ 90,800 11,100 6,400 44,300 29,000 40 66 23 36 50

Median asking rent ........... $788 $850+ $688 $777 $850+ (X) (X) (X) (X) (X)

BEDROOMS

No bedroom ................. 3,800 700 1,300 900 900 2451 2

1 bedroom................... 79,800 5,800 8,100 47,600 18,300 35 35 29 39 32

2 bedrooms.................. 112,500 8,000 16,700 57,900 29,800 50 48 60 47 52

3 bedrooms or more .......... 29,500 2,300 1,800 16,900 8,600 13 14 7 14 15

X Not applicable.

Source: U.S. Census Bureau, H131, Characteristics of Apartments Completed.
U.S. Census Bureau 3

condominium or cooperative units are, instead, offered

by the builder or building owner for rent, they are

counted as rental apartments. Units categorized as

federally subsidized are those built under the two

programs of the Department of Housing and Urban

Development (Section 8, Low Income Housing Assistance

and Section 202, Senior Citizens Housing Direct Loans)

and all units in buildings containing apartments in the

Federal Housing Administration (FHA) rent supplement

program. The data on privately financed units include

privately owned housing subsidized by state and local

governments. Units categorized as not in the scope of

the survey include time-sharing units, continuing care

retirement units, and turnkey units (privately built for and

sold to local public housing authorities after

completion).

Tables 1 through 4 are restricted to privately financed,

nonsubsidized, unfurnished rental apartments. Table 5

is restricted to privately financed, nonsubsidized,

condominium and cooperative apartments, while Table 6

is limited to privately financed, nonsubsidized condominium apartments only. Table 7 covers privately

financed, nonsubsidized, furnished rental apartments,

and Table 8 is a historical summary table which includes

all newly constructed apartments in buildings with five

units or more. Estimates published in this report are

preliminary and are subject to revision in the H130,

annual report on absorptions.

The SOMA is a sample survey and consequently all

statistics in this report are subject to sampling variability.

Estimates derived from different samples would differ

from one another. The standard error of a survey

estimate is a measure of the variation among the

estimates from all possible samples. The methodology

for calculating standard errors is explained in the

section on Accuracy of the Estimates.

NOTE TO DATA USERS

The SOMA adopted new ratio estimation procedures in

1990 to derive more accurate estimates of completions.2

This new procedure was used for the first time for

processing annual data for 1990. Please use caution

when comparing the number of 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

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

the survey collects data on characteristics of the units,

such as number of bedrooms, rent, and price.

Buildings for the survey came from those included in the

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

SOC, the United States is first divided into primary

sampling units (PSUs), which are stratified based on

population and building permits. The PSUs to be used

for the survey are then randomly selected from each

stratum. Next, a sample of permit-issuing places is

chosen within each of the selected PSUs. Finally, all

newly constructed buildings with five units or more

within sampled places, as well as a subsample of

buildings with one to four units, are included in the

SOC.

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

sample of buildings with five or more units that have

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

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

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

buildings selected in a given quarter in each of the next

four quarters.

ESTIMATION

Beginning with data on completions in the fourth quarter

of 1990 (which formed the basis for absorptions in the

first quarter of 1991), the Census Bureau modified the

estimation procedure and applied the modified estimation procedure to data for the other three quarters of

1990 so that one could derive annual estimates using

the same methodology for four quarters. The Census

Bureau has not performed any additional re-estimation

of past data.

Before the estimation procedure changed, the Census

Bureau had formed unbiased quarterly estimates by

multiplying the counts for each building by its base

weight (the inverse of its probability of selection) and

then summing over all buildings. Multiplying the unbiased estimate by the following ratio-estimate factor for

the country as a whole provides the following estimate:

For the modified estimation procedure, instead of

applying a single ratio-estimate factor for the entire

2See ESTIMATION on page 3.

3See the January 2000 issue of “Housing Starts,” Construction Reports,

Series C20, for details of this survey.

total units in buildings with five units or more in

permit-issuing 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
4 U.S. Census Bureau

country, the Census Bureau computes separate

ratio-estimate factors for each of the four Census

regions. Multiplying the unbiased regional estimates by

the corresponding ratio-estimate factors provides the

final estimates for regions. The Census Bureau obtains

the final estimates for the country by summing the final

regional estimates.

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

published figures from the SOC and reduces, to some

extent, the sampling variability of the estimates of

totals. Annual absorption rates are obtained by computing a weighted average of the four quarterly estimates.

Absorption rates and other characteristics of units not

included in the interviewed group or not accounted for

are assumed to be identical to rates for units where

data were obtained. The noninterviewed and

not-accounted-for cases constitute less than 2 percent

of the sample housing units in this survey.

ACCURACY OF THE ESTIMATES

Two types of possible errors associated with data from

sample surveys: nonsampling and sampling errors. The

following is a description of the sampling and nonsampling errors associated with the SOMA.

Nonsampling Errors

In general, nonsampling errors can be attributed to many

sources: inability to obtain information about all cases in

the sample, difficulties with definitions, differences in

interpretation of questions, inability or unwillingness of

the respondents to provide correct information, and

errors made in processing the data. These nonsampling

errors also occur in complete censuses. Although no

direct measurements of the biases have been obtained,

the Census Bureau feels that most of the important

response and operational errors were detected during

review of the data for reasonableness and consistency.

Sampling Errors

The particular sample used for this survey is one of

many possible samples of the same size that could have

been selected using the same design. Even if the same

questionnaires, instructions, and interviewers were used,

estimates from different samples would likely differ from

each other. The deviation of a sample estimate from the

average of all possible samples is defined as the sampling error. The standard error of a survey estimate

attempts to provide a measure of this variation among

the estimates from the possible samples and, thus, is a

measure of the precision with which an estimate from a

sample approximates the average result from all possible

samples.

As calculated for this survey, the standard error also

partially measures the variation in the estimates because

of errors in responses and by the interviewers

(nonsampling errors), but it does not measure, as such,

any systematic biases in the data. Therefore, the accuracy of the estimates depends on the standard error,

biases, and some additional nonsampling errors not

measured by the standard error. As a result, confidence

intervals around estimates based on this sample reflect

only a portion of the uncertainty that actually exists.

Nonetheless, such intervals are extremely useful because

they do capture all of the effect of sampling error and, in

this case, some nonsampling error as well.

If all possible samples were selected, each of them was

surveyed under essentially the same general conditions,

there were no systematic biases, and an estimate and its

estimated standard error were calculated from each

sample, then:

• Approximately 68 percent of the intervals from one

standard error below the estimate to one standard

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

all possible samples.

• Approximately 90 percent of the intervals from 1.6

standard errors below the estimate to 1.6 standard

errors above the estimate (i.e., the 90-percent

confidence interval) would include the average result

from all possible samples.

• Approximately 95 percent of the intervals from two

standard errors below the estimate to two standard

errors above the estimate (i.e., the 95-percent

confidence interval) would include the average result

from all possible samples.

This report uses a 90-percent confidence level as its

standard for statistical significance.

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

approximation to the true interval estimate can be

achieved by restricting the interval estimate to positive

values—that is, by changing the lower limit of the

interval estimate to zero.

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

percentage) computed by using sample data for both the

numerator and denominator depends on both the size of

the rate and the size of the total on which the rate is

based. Estimated rates of this kind are relatively more
U.S. Census Bureau 5

• 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 a base of 8,100 is

about 8.8 percent.

• The length of the interval that contains the median.

In this example, the median lies between $550 and

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

• The estimated proportion of the base falling in the

interval that contains the median. In this example,

41 percent. The standard error of the median is

obtained by using the following approximation:

For this example, the standard error of the median of

$611 is:

Therefore, 1.6 standard errors equals $35. Consequently, an approximate 90-percent confidence interval

for the median asking rent of $611 is between $576 and

$646 ($611 ±$35).

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 of estimated

percentages for rental apartments and for 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 8,000

two-bedroom apartments built in the Northeast. Table A

shows the standard error of an estimate of this size to

be approximately 1,400. To obtain a 90-percent confidence interval, multiply 1,400 by 1.6 and add and

subtract the result from 8,000 yielding limits of 5,760

and 10,240. The average estimate of these units completed in 1999 in the Northeast 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 apartments in the Northeast is

82 percent. Table B shows the standard error on a

82 percent rate on a base of 8,000 to be approximately

6.8 percent. Multiply 6.8 by 1.6 (yielding 11) and add

and subtract the result from 82. The 90-percent confidence interval for the absorption rate of 82 percent is

from 71 percent to 93 percent.

Table 2 also shows that the median asking rent for an

estimated 8,100 one-bedroom apartments built in the

Midwest was $611. The standard error of this median is

about $22.

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, 8,100.

8.8 x = $22 100

41

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

estimated proportion of

the base falling within the

interval containing the

sample median
6 U.S. Census Bureau

Figure 1.

Percent Distribution of New Unfurnished Rental and New Condominium

and Cooperative Units Completed by Region: 1999

Unfurnished Rental

Apartments

Condominium and Cooperative

Apartments

Midwest

12%

Northeast

7%

West

26%

South

55%

Midwest

19%

Northeast

6%

West

33%

South

41%

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

Figure 2.

Median Asking Rent/Price for Unfurnished Rental and 

Condominium Apartments Completed in 1999

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

*Northeast and West median asking rent is $850 or more. *Northeast median asking price is $200,000 or more.

Dollars Thousands of dollars

0

100

200

300

400

500

600

700

800

900

United Northeast* Midwest South West*

States

0

50

100

150

200

250

United Northeast* Midwest South West

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

Bedrooms for the United States and Regions: 1999

[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 . . . . . . . . . . . . . . . . . . . 225,600 16,800 27,900 123,300 57,600 72 85 73 69 74

Less than $450 . . . . . . . . . . . . . . 8,600 1,200 1,500 2,700 3,200 80 96 81 87 67

$450 to $549 . . . . . . . . . . . . . . . . . . 16,200 1,900 3,000 7,500 3,800 79 73 86 81 73

$550 to $649 . . . . . . . . . . . . . . . . . . 29,900 1,200 6,900 17,800 3,900 74 80 77 74 64

$650 to $749 . . . . . . . . . . . . . . . . . . 44,200 1,200 6,400 27,100 9,500 70 89 74 67 73

$750 to $849 . . . . . . . . . . . . . . . . . . 36,000 100 3,600 24,000 8,300 70 59 67 69 76

$850 or more . . . . . . . . . . . . . . . . . . 90,800 11,100 6,400 44,300 29,000 72 86 63 67 77

Median asking rent ............. $788 $850+ $688 $777 $850+ (X) (X) (X) (X) (X)

No bedroom . . . . . . . . . . . . . . . . . 3,800 700 1,300 900 900 65 81 61 56 67

Less than $650 . . . . . . . . . . . . . . . . 900 200 100 400 300 78 94 84 82 58

$650 or more . . . . . . . . . . . . . . . . . . 2,900 500 1,200 500 700 60 76 59 35 70

Median asking rent ............. $850+ $850+ $850+ $696 $850+ (X) (X) (X) (X) (X)

1 bedroom. . . . . . . . . . . . . . . . . . . 79,800 5,800 8,100 47,600 18,300 73 91 76 71 72

Less than $450 . . . . . . . . . . . . . . . . 3,800 1,000 600 1,700 600 94 96 92 95 89

$450 to $549 . . . . . . . . . . . . . . . . . . 7,000 200 1,400 4,300 1,100 81 99 84 87 50

$550 to $649 . . . . . . . . . . . . . . . . . . 17,300 600 3,300 11,100 2,300 72 90 86 66 70

$650 to $749 . . . . . . . . . . . . . . . . . . 18,100 (Z) 800 12,500 4,700 70 (Z) 72 70 71

$750 to $849 . . . . . . . . . . . . . . . . . . 11,800 100 200 8,500 3,100 70 24 62 70 72

$850 or more . . . . . . . . . . . . . . . . . . 21,700 4,000 1,700 9,600 6,500 72 90 47 65 77

Median asking rent ............. $715 $850+ $611 $704 $765 (X) (X) (X) (X) (X)

2 bedrooms . . . . . . . . . . . . . . . . . 112,500 8,000 16,700 57,900 29,800 71 82 71 67 75

Less than $450 . . . . . . . . . . . . . . . . 3,000 (Z) 800 700 1,400 68 (Z) 72 64 67

$450 to $549 . . . . . . . . . . . . . . . . . . 6,700 1,700 1,500 2,500 1,000 74 69 90 70 71

$550 to $649 . . . . . . . . . . . . . . . . . . 10,600 200 3,500 5,500 1,300 77 94 68 88 56

$650 to $749 . . . . . . . . . . . . . . . . . . 21,500 100 4,900 12,400 4,100 67 19 73 61 76

$750 to $849 . . . . . . . . . . . . . . . . . . 19,800 (Z) 3,100 12,000 4,600 70 (Z) 65 67 80

$850 to $949 . . . . . . . . . . . . . . . . . . 14,900 600 1,800 8,500 4,000 68 75 80 65 67

$950 or more . . . . . . . . . . . . . . . . . . 36,100 5,300 1,100 16,300 13,400 74 88 55 66 79

Median asking rent ............. $823 $950+ $701 $815 $911 (X) (X) (X) (X) (X)

3 bedrooms or more . . . . . . . . . . 29,500 2,300 1,800 16,900 8,600 76 81 85 74 77

Less than $450 . . . . . . . . . . . . . . . . 1,500 - 100 200 1,200 63 (X) 84 95 56

$450 to $549 . . . . . . . . . . . . . . . . . . 2,000 - 100 500 1,500 92 (X) 52 87 96

$550 to $649 . . . . . . . . . . . . . . . . . . 1,800 400 100 1,100 200 69 55 93 77 46

$650 to $749 . . . . . . . . . . . . . . . . . . 4,400 1,100 700 2,000 600 80 93 87 77 64

$750 to $849 . . . . . . . . . . . . . . . . . . 4,200 (Z) 300 3,500 500 70 (Z) 86 70 58

$850 to $949 . . . . . . . . . . . . . . . . . . 3,600 (Z) 200 2,600 800 70 (Z) 95 64 83

$950 or more . . . . . . . . . . . . . . . . . . 11,900 800 400 7,000 3,800 78 77 82 76 81

Median asking rent ............. $871 $716 $749 $894 $889 (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, H131, Characteristics of Apartments Completed.

7

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

Bedrooms for the United States and Inside or Outside Metropolitan Areas: 1999

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

rounding. Medians and percents are computed using unrounded data]

Characteristic

Number of unfurnished apartments Percent absorbed within 3 months

United

States

Inside metropolitan areas

Outside

metropolitan areasUnited

States

Inside metropolitan areas

Outside

metropolitan areasIn central

city

Not in

central city

In central

city

Not in

central city

Total . . . . . . . . . . . . . . . . . . . . . . . . . 225,600 91,900 122,800 10,800 72 74 72 67

Less than $450 . . . . . . . . . . . . . . . . . . . . 8,600 2,100 2,800 3,700 80 92 89 65

$450 to $549 . . . . . . . . . . . . . . . . . . . . . . . . 16,200 6,400 9,000 800 79 82 78 74

$550 to $649 . . . . . . . . . . . . . . . . . . . . . . . . 29,900 12,100 16,500 1,200 74 74 73 76

$650 to $749 . . . . . . . . . . . . . . . . . . . . . . . . 44,200 17,900 25,700 600 70 67 71 68

$750 to $849 . . . . . . . . . . . . . . . . . . . . . . . . 36,000 14,200 20,700 1,100 70 74 69 50

$850 or more . . . . . . . . . . . . . . . . . . . . . . . . 90,800 39,300 48,200 3,400 72 74 71 69

Median asking rent ................... $788 $802 $786 $621 (X) (X) (X) (X)

No bedroom . . . . . . . . . . . . . . . . . . . . . . . 3,800 1,700 1,400 700 65 80 36 87

Less than $650 . . . . . . . . . . . . . . . . . . . . . . 900 600 300 - 78 76 80 (X)

$650 or more . . . . . . . . . . . . . . . . . . . . . . . . 2,900 1,000 1,100 700 60 81 23 87

Median asking rent ................... $850+ $813 $850+ $850+ (X) (X) (X) (X)

1 bedroom . . . . . . . . . . . . . . . . . . . . . . . . 79,800 36,300 40,300 3,200 73 76 71 73

Less than $450 . . . . . . . . . . . . . . . . . . . . . . 3,800 800 2,000 900 94 91 97 92

$450 to $549 . . . . . . . . . . . . . . . . . . . . . . . . 7,000 3,600 3,200 300 81 82 78 96

$550 to $649 . . . . . . . . . . . . . . . . . . . . . . . 17,300 6,000 10,200 1,000 72 76 69 73

$650 to $749 . . . . . . . . . . . . . . . . . . . . . . . 18,100 8,600 9,400 (Z) 70 69 71 (Z)

$750 to $849 . . . . . . . . . . . . . . . . . . . . . . . . 11,800 6,400 5,300 200 70 73 67 50

$850 or more . . . . . . . . . . . . . . . . . . . . . . . . 21,700 10,800 10,200 800 72 79 66 48

Median asking rent ................... $715 $739 $700 $585 (X) (X) (X) (X)

2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . 112,500 44,900 62,700 4,800 71 71 72 63

Less than $450 . . . . . . . . . . . . . . . . . . . . . . 3,000 800 500 1,700 68 95 59 58

$450 to $549 . . . . . . . . . . . . . . . . . . . . . . . . 6,700 2,100 4,200 400 74 80 72 69

$550 to $649 . . . . . . . . . . . . . . . . . . . . . . . . 10,600 5,500 4,900 200 77 71 84 100

$650 to $749 . . . . . . . . . . . . . . . . . . . . . . . . 21,500 7,900 13,000 600 67 62 69 68

$750 to $849 . . . . . . . . . . . . . . . . . . . . . . . . 19,800 6,800 12,200 800 70 72 70 48

$850 to $949 . . . . . . . . . . . . . . . . . . . . . . . . 14,900 5,300 8,600 1,000 68 66 69 72

$950 or more . . . . . . . . . . . . . . . . . . . . . . . . 36,100 16,400 19,400 300 74 73 74 59

Median asking rent ................... $823 $839 $822 $682 (X) (X) (X) (X)

3 bedrooms or more. . . . . . . . . . . . . . . . 29,500 9,000 18,400 2,100 76 79 76 59

Less than $450 . . . . . . . . . . . . . . . . . . . . . . 1,500 200 200 1,100 63 91 92 53

$450 to $549 . . . . . . . . . . . . . . . . . . . . . . . . 2,000 500 1,400 200 92 99 95 45

$550 to $649 . . . . . . . . . . . . . . . . . . . . . . . . 1,800 500 1,300 (Z) 69 77 67 (Z)

$650 to $749 . . . . . . . . . . . . . . . . . . . . . . . . 4,400 1,200 3,200 - 80 79 81 (X)

$750 to $849 . . . . . . . . . . . . . . . . . . . . . . . . 4,200 700 3,300 200 70 86 67 58

$850 to $949 . . . . . . . . . . . . . . . . . . . . . . . . 3,600 1,600 1,700 300 70 74 70 49

$950 or more . . . . . . . . . . . . . . . . . . . . . . . . 11,900 4,300 7,300 300 78 78 77 100

Median asking rent ................... $871 $939 $843 $450- (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, H131, Characteristics of Apartments Completed.

8

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

and Utilities for the United States: 1999

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225,600 100 72

AMENITIES

Swimming pool

Available

Included in rent ................................................... 177,500 79 71

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,600 1 86

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,500 20 76

Parking

Available

Included in rent ................................................... 215,200 95 72

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,600 2 78

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,800 3 85

Air-conditioning

Available. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206,600 92 72

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,900 8 73

Dishwasher

Available. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217,700 96 73

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,900 4 59

UTILITIES

Electricity

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,200 5 70

At extra cost ..................................................... 213,300 95 72

Gas

Available

Included in rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,200 7 75

At extra cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77,400 34 78

Not available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132,000 59 69

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

9

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

Number of Bedrooms and Geography: 1999

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33,000 100 81

BEDROOMS

Fewer than 2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,800 12 83

2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,600 62 80

3 bedrooms or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,600 26 81

REGION

Northeast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000 6 66

Midwest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,300 19 92

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,600 41 78

West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,000 33 80

AREA

Inside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,600 84 80

In central city. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,100 37 79

Not in central city (suburbs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,500 47 81

Outside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,400 16 83

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

10

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

Number of Bedrooms, and Geography: 1999

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,300 100 81 $130,800

ASKING PRICE

Less than $75,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,200 7 86 (X)

$75,000 to $99,999. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000 25 83 (X)

$100,000 to $124,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,900 15 77 (X)

$125,000 to $149,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,400 14 89 (X)

$150,000 to $199,999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,700 15 74 (X)

$200,000 or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000 25 80 (X)

BEDROOMS

Fewer than 2 bedrooms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,600 11 84 $126,400

2 bedrooms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,100 62 80 $124,400

3 bedrooms or more. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,600 27 82 $157,900

REGION

Northeast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000 6 67 $200,000+

Midwest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,300 20 92 $127,500

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,300 41 78 $118,800

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,700 33 82 $133,000

AREA

Inside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,200 84 81 $136,300

In central city . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000 37 79 $153,500

Not in central city (suburbs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,200 47 83 $131,700

Outside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,100 16 82 $95,200

X Not applicable.

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

11

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

Bedrooms, and Geography: 1999

[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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,300 100 93 $850+

ASKING RENT

Less than $750 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000 36 100 (X)

$750 or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,300 64 90 (X)

BEDROOMS

Fewer than 2 bedrooms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,700 20 95 $549

2 bedrooms or more. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,600 80 93 $950+

REGION

Northeast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . - - (X) (X)

Midwest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,500 30 100 $680

South . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,600 56 97 $850+

West. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 14 67 $850+

AREA

Inside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,400 65 96 $710

In central city . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,200 50 98 $721

Not in central city (suburbs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 14 87 $533

Outside metropolitan areas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,900 35 89 $850+

- Represents zero. X Not applicable.

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

12

U.S. Census Bureau
Table 8. Total Apartments Completed in Buildings With Five Units or More: 1970 to 1999

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

Year

Total

Unfurnished

apartments

Furnished

apartments

Condominiums and

cooperatives

Federally

subsidized Other1

Number Percent Number Percent Number Percent Number Percent Number Percent

1999............. 291,800 225,600 77 8,300 3 33,000 11 14,100 5 10,900 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.

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, H131, Characteristics of Apartments Completed.

13

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

Completions in 1999

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, H131, Characteristics of Apartments Completed.

Table B. Standard Errors of Estimated Percentages for Rental Apartments: Completions in 1999

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, H131, Characteristics of Apartments Completed.

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

in 1999

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

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

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

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

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

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

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

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

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

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

14

U.S. Census Bureau