UNITED STATES DEPARTMENT OF

COMMERCE

NEWS

WASHINGTON, D.C. 20230

Robert R. Callis For Release 10:00 AM EDT, January 25, 2002

Linda B. Cavanaugh CB02-04

(301)457-3199

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND

HOMEOWNERSHIP

National vacancy rates in the fourth quarter 2001 were 8.8 percent in rental housing and 1.8 percent in

homeowner housing, the Department of Commerce=s Census Bureau announced today. The Census Bureau said that

both the rental and homeowner vacancy rates increased from the corresponding rates last year. However, neither the

rental vacancy rate nor the homeowner vacancy rate was significantly different from last quarter.

Table 1. Rental and Homeowner Vacancy Rates for the United States: 1983 to 2001 (in percent)

Rental vacancy rate Homeowner vacancy rate

Year

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

↓ ↓

2001....

2000.....

1999.....

1998.....

1997.....

1996.....

1995.....

1994.....

1993r....

 1993.....

1992.....

1991.....

1990.....

1989r....

1989.....

1988.....

1987.....

1986.....

1985.....

1984.....

1983.....

8.2

7.9

8.2

7.7

7.5

7.9

7.4

7.5

7.8

7.9

7.4

7.5

7.5

7.5

7.3

8.0

7.4

6.9

6.3

5.6

5.7

8.3

8.0

8.1

8.0

7.9

7.8

7.7

7.4

7.6

7.6

7.7

7.3

7.0

7.4

7.3

7.7

7.5

7.3

6.2

5.5

5.5

8.4

8.2

8.2

8.2

7.9

8.0

7.7

7.2

7.0

7.1

7.3

7.6

7.2

7.6

7.3

7.8

8.1

7.5

6.8

6.0

5.8

8.8

7.8

7.9

7.8

7.7

7.7

7.7

7.4

6.9

6.9

7.1

7.3

7.2

7.1

6.8

7.3

7.8

7.7

6.7

6.3

5.5

 1.5

 1.6

1.8

1.7

1.7

1.6

1.5

1.4

1.4

1.4

1.5

1.7

1.7

1.7

1.5

1.6

1.7

1.5

1.8

1.6

1.4

 1.8

 1.5

1.6

1.7

1.6

1.5

1.6

1.4

1.4

1.4

1.6

1.8

1.7

1.7

1.6

1.6

1.7

1.7

1.9

1.7

1.5

 1.9

 1.6

1.6

1.7

1.5

1.7

1.5

1.4

1.4

1.4

1.6

1.8

1.7

1.9

1.8

1.6

1.7

1.6

1.8

1.7

1.6

 1.8

 1.6

1.6

1.8

1.7

1.7

1.6

1.6

1.4

1.4

1.5

1.6

1.7

1.8

1.6

1.6

1.6

1.6

1.6

1.7

1.6

rRevised.

 BUREAU OF

 THE

 CENSUS
2

For rental housing, the vacancy rate was highest outside Metropolitan Areas (MAs), 10.5 percent, and lowest in

the suburbs, 7.8 percent. The rental vacancy rate in central cities, 9.0 percent, was higher than last year, while other area

rates did not change significantly.

The homeowner vacancy rate was lowest in the suburbs, 1.6 percent. Only the homeowner vacancy rate in

the suburbs, 1.6 percent, was higher than last year, while rates in other areas did not change significantly.

Among regions, the rental vacancy rate was highest in the South, 11.5 percent, and lowest in the Northeast,

5.4 percent. The Midwest, 10.3 percent, and the West, 6.6 percent, were higher than the corresponding rates last

year, while other regions were not significantly different.

The Northeast, 1.2 percent, had the lowest homeowner vacancy rate and the South, 2.2 percent, had the

highest. The homeowner vacancy rate in the Midwest, 1.7 percent, was higher than last year, while rates in other

regions did not change significantly during the same time period.

Table 2. Rental and Homeowner Vacancy Rates by Area:

 Fourth Quarter 2001 and 2000 (in percent)

Rental vacancy rates Homeowner vacancy rates

Area Fourth

Quarter

2001

Fourth

Quarter

2000

Standard

error on

2001

rate

Standard

error on

difference

Fourth

Quarter

2001

Fourth

Quarter

2000

Standard

error on

2001

rate

Standard

error on

difference

United States.......

 InsideMAs.........

 In central cities

 Not in central

 Cities suburbs)

 Outside MAs.....

 Northeast...........

 Midwest.............

 South.................

 West..................

8.8

8.4

9.0

7.8

10.5

5.4

 10.3

 11.5

6.6

7.8

7.5

7.9

7.1

9.5

5.3

8.7

 10.8

5.3

0.2

0.2

0.3

0.3

0.5

0.4

0.5

0.4

0.3

0.3

0.3

0.4

0.4

0.8

0.5

0.7

0.5

0.5

1.8

1.7

2.0

1.6

2.1

1.2

1.7

2.2

1.7

1.6

1.5

1.9

1.3

2.1

1.2

1.3

2.2

1.4

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.1

0.2

0.1

0.2

0.2

0.2

0.2

0.2
3

 There were an estimated 122.0 million housing units in the United States in the fourth quarter 2001.

Approximately 107.6 million housing units were occupied, 73.2 million by owners and 34.4 million by renters. While

the number of owner-occupied units increased, the number of renter-occupied units did not change significantly from

that reported one year ago. Of the 14.3 million vacant housing units, 10.9 million were for year-round use.

Approximately 3.3 million of the year-round vacant units were for-rent, 1.4 million were for-sale-only, and the

remaining 6.2 million were vacant for a variety of reasons.

 Table 3. Estimates of the Total Housing Inventory for the United States:

 Fourth Quarter 2001 and 2000

 (Estimates are in thousands and may not add to total, due to rounding)

 Type

Fourth

 Quarter

2001

Fourth

Quarter

2000

Standard

error on

2001

Estimate

Standard

error on

difference

Percent of

total

(2001)

All housing units............

 Occupied......................

 Owner........................

 Renter........................

 Vacant..........................

 Year-round.................

 For rent...................

 For sale only............

 Other.......................

 Seasonal.....................

121,963

107,633

73,215

34,418

14,330

10,912

3,336

1,353

6,223

 3,418

120,144

106,493

71,906

34,587

13,651

10,201

2,970

 1,188

6,043

3,450

231

243

245

196

135

119

67

43

91

68

328

344

345

278

189

166

93

59

128

97

100

88

60

28

12

9

3

1

5

3
4

The fourth quarter 2001 homeownership rate, 68.0 percent, was higher than 67.5 percent last year, but not

significantly different from 68.1 percent last quarter.

Table 4. Homeownership Rates for the United States: 1980 to 2001

 (in percent)

 Year

Homeownership Rates1

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

 ↓

2001................................

2000..........................................

1999..........................................

1998..........................................

1997..........................................

1996..........................................

1995..........................................

1994..........................................

1993r.........................................

1993..........................................

1992..........................................

1991..........................................

1990..........................................

1989r.........................................

1989.........................................

1988.........................................

1987.........................................

1986.........................................

1985.........................................

1984.........................................

1983.........................................

1982.........................................

1981.........................................

1980.........................................

67.5

67.1

66.7

65.9

65.4

65.1

64.2

63.8

63.7

64.2

64.0

63.9

64.0

63.9

63.9

63.7

63.8

63.6

64.1

64.6

64.7

64.8

65.6

65.5

67.7

67.2

66.6

66.0

 65.7

65.4

64.7

63.8

63.9

64.4

63.9

63.9

63.7

63.8

63.9

63.7

63.8

63.8

64.1

64.6

64.7

64.9

65.3

65.5

68.1

67.7

67.0

66.8

66.0

65.6

65.0

64.1

64.2

64.7

64.3

64.2

64.0

64.1

64.0

64.0

64.2

63.8

63.9

64.6

64.8

64.9

65.6

65.8

68.0

67.5

66.9

66.4

65.7

65.4

65.1

64.2

64.2

64.6

64.4

64.2

64.1

63.8

63.8

63.8

64.1

63.9

63.5

64.1

64.4

64.5

65.2

65.5

1

Standard errors for quarterly homeownership rates for the United States generally are 0.2 percent.

rRevised.
5

Table 4SA shows the seasonally adjusted homeownership rates for the United States from 1980 to the present.

(Research has shown that seasonality for homeownership rates is present.) The seasonally adjusted homeownership rate,

68.0 percent, for the fourth quarter 2001, was higher than 67.5 percent last year, but was not different from 67.9 percent

last quarter.

Table 4SA. Homeownership Rates for the United States: 1980 to 2001

 Seasonally Adjusted (in percent)

 Year

Homeownership Rates2 (Seasonally Adjusted)

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

2001................................

2000..........................................

1999..........................................

1998..........................................

1997..........................................

1996..........................................

1995..........................................

1994..........................................

1993r.........................................

1993..........................................

1992..........................................

1991..........................................

1990..........................................

1989r.........................................

1989.........................................

1988.........................................

1987.........................................

1986.........................................

1985.........................................

1984.........................................

1983.........................................

1982.........................................

1981.........................................

1980.........................................

67.6

 67.2

66.8

66.0

65.5

65.2

64.4

64.0

63.8

(NA)

64.1

64.0

64.1

64.0

(NA)

63.8

63.9

63.7

64.1

64.6

64.7

64.8

65.6

65.5

67.8

67.3

66.7

66.1

65.8

65.4

64.8

63.9

64.0

(NA)

64.0

64.1

63.9

63.9

(NA)

63.8

63.9

63.8

64.1

64.6

64.7

64.9

65.4

65.6

67.9

67.5

66.8

66.6

65.8

65.4

64.8

63.9

64.0

(NA)

64.1

64.0

63.8

63.9

(NA)

63.9

64.1

63.7

63.8

64.5

64.6

64.7

65.4

65.6

68.0

r

67.5

67.0

66.5

65.7

65.4

65.1

64.1

64.1

(NA)

64.3

 64.1

64.0

63.7

(NA)

63.8

64.1

63.9

63.6

64.2

64.5

64.6

65.3

65.6

2

Standard errors for quarterly homeownership rates for the United States generally are 0.2 percent.

(NA) Not Applicable, only the revised series for 1989 and 1993 were used in calculating the seasonality adjustment.

rRevised.
6

During the fourth quarter 2001, the homeownership rate was highest in the Midwest, 73.5 percent, and lowest in

the West, 62.3 percent. None of the homeownership rates by region changed significantly from the respective rates last

year or last quarter.

Table 5. Homeownership Rates for the United States and Regions:

 1997 to 2001 (in percent)

Homeownership Rates3

 Year/Quarter

United States Northeast Midwest South West

2001

Fourth Quarter...........

Third Quarter............

Second Quarter..........

First Quarter.............

2000

Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter.................

1999

Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

68.0

68.1

67.7

67.5

67.5

67.7

67.2

67.1

66.9

67.0

66.6

66.7

64.0

64.1

63.2

63.6

63.2

63.9

63.4

63.3

63.2

63.6

62.8

62.7

73.5

72.9

72.7

73.2

73.1

72.9

72.2

72.2

72.5

72.1

71.2

71.2

70.1

70.1

69.7

69.3

69.8

69.7

69.2

69.5

69.1

69.3

68.9

69.2

62.3

63.1

62.9

62.0

61.6

62.2

61.9

61.3

60.6

60.8

61.3

61.0

1998

Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

1997

Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter..................

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

62.0

63.4

62.7

62.4

62.7

63.0

62.4

61.6

71.5

71.7

70.3

70.6

70.4

70.7

70.3

70.6

69.0

68.8

68.4

68.2

67.8

68.2

68.1

67.8

60.4

61.1

60.3

60.1

59.8

59.8

59.9

59.0

 3Standard errors for quarterly homeownership rates by region generally are 0.5 percent.
7

The homeownership rates by age of householder ranged from 42.2 percent for Under 35 years old, to 81.4

percent for the 55 to 64 years age group for the fourth quarter 2001. The homeownership rate for fourth quarter 2001 for

householders under 35 years and for householders 55 to 64 years old increased from one year ago, while the rates for all

other age groups did not change significantly during the same period.

Table 6. Homeownership Rates by Age of Householder: 1997 to 2001 (in percent)

 Year/Quarter

Homeownership Rates4

United

States

Under

35 years

35 to 44

years

45 to 54

years

55 to 64

years

65 years

and over

2001

Fourth Quarter.....

Third Quarter......

Second Quarter....

First Quarter.......

2000

Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1999

Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1998

Fourth Quarter.....

Third Quarter.......

Second Quarter....

First Quarter.........

1997

Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

 68.0

 68.1

 67.7

 67.5

 67.5

67.7

67.2

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

 42.2

 41.6

 40.8

 40.4

41.2

41.1

40.2

40.5

40.3

40.1

39.1

39.4

39.6

39.5

39.3

39.0

 38.7

38.9

38.6

38.6

 68.2

 68.6

 68.1

 68.1

 68.3

68.4

67.5

67.3

67.9

67.4

66.5

67.0

67.6

67.8

66.2

65.9

 65.9

66.5

66.3

65.5

 76.2

 77.1

 77.2

 76.5

76.4

76.8

76.7

76.0

75.2

76.3

76.4

76.2

74.9

76.3

75.5

75.9

 75.7

76.3

75.6

75.5

 81.4

 81.6

 81.5

 80.8

80.2

80.1

80.3

80.8

81.3

80.7

80.8

81.1

81.7

81.1

80.4

80.3

 80.3

80.1

80.3

79.6

 80.7

 80.3

 79.7

 80.7

80.4

80.7

80.3

80.1

79.6

80.8

80.4

79.8

79.2

79.7

79.2

79.1

 79.1

79.2

79.1

79.2

4

Standard errors for quarterly homeownership rates by age of householder generally are 0.4 percent.
8

The rates for racial and ethnic homeownership for the fourth quarter 2001 ranged from 74.4 percent for White

non-Hispanic householders to 48.1 percent for Black householders. The rates for White and White non-Hispanic

householders were higher than those reported last year. The rates for other racial categories remained statistically

unchanged during the same time period.

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1997 to 2001 (in percent)

 Year/Quarter

Homeownership Rates5

U.S. Total White,

 total

 White,

 NonHispanic

 Black,

 total

 Other

Race, total

Hispanic6,

 total

2001

Fourth Quarter......

Third Quarter.......

Second Quarter......

First Quarter.........

2000

Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter...........

1999

Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter..........

1998

Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter..........

1997

Fourth Quarter.......

Third Quarter.........

Second Quarter......

First Quarter..........

 68.0

 68.1

 67.7

 67.5

 67.5

 67.7

 67.2

 67.1

 66.9

 67.0

 66.6

 66.7

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

 71.8

 71.9

 71.3

 71.3

 71.2

 71.5

 70.9

 70.7

 70.5

 70.7

 70.4

 70.3

 70.1

70.4

69.7

69.6

69.3

69.5

69.4

69.0

 74.4

74.6

74.1

74.0

73.9

74.3

73.7

73.4

73.3

73.5

73.2

72.8

72.6

73.1

72.5

72.1

71.9

72.3

72.1

71.6

 48.1

 47.5

 47.9

 47.5

47.8

46.8

46.7

47.4

46.8

46.6

45.3

46.3

45.9

46.6

44.7

45.2

45.1

45.3

44.4

44.5

53.2

54.4

55.2

53.9

52.4

53.9

54.4

53.6

54.3

54.5

53.2

52.8

52.7

53.6

53.5

52.3

52.5

53.1

52.7

51.8

 48.8

 48.1

 46.1

 46.1

 47.5

 46.7

 45.4

 45.7

 45.5

 45.5

 44.9

 46.2

45.7

44.9

43.9

44.4

44.0

43.0

43.3

42.6

5

Standard errors for quarterly homeownership rates by race and ethnicity of householder generally are 0.2 percent for White

and White non-Hispanic householders, 0.5 percent for Black householders, 1.0 percent for Other Race householders, and 0.7

percent for Hispanic householders.

6Hispanics may be of any race.
9

The homeownership rate for households with incomes greater than or equal to the median family income increased

from 81.6 percent to 82.2 percent since last year, while the rate for households with incomes less than the median family

income increased from 51.8 percent to 53.0 percent, during the same time period.

Table 8. Homeownership Rates by Family Income: 1997 to 2001 (in percent)

Homeownership Rates7

 Year/Quarter United States

Households with family

income greater than or

equal to the median family

income8

Households with family

income less than the

median family income

2001

Fourth Quarter.........

Third Quarter...........

Second Quarter.........

First Quarter............

2000

Fourth Quarter.............

Third Quarter...............

Second Quarter............

First Quarter................

1999

Fourth Quarter.............

Third Quarter...............

Second Quarter............

First Quarter................

1998

Fourth Quarter.............

Third Quarter...............

Second Quarter............

First Quarter.................

1997

Fourth Quarter..............

Third Quarter................

Second Quarter.............

First Quarter.................

 68.0

 68.1

 67.7

 67.5

 67.5

67.7

67.2

67.1

 66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

82.2

82.2

82.0

81.7

81.6

81.7

81.8

81.4

81.6

81.7

81.5

81.1

80.7

81.6

80.7

80.7

80.5

80.9

80.8

79.7

53.0

52.6

51.7

51.6

51.8

52.2

50.8

51.4

51.2

51.4

50.8

51.2

51.1

51.1

50.0

50.2

50.0

50.2

50.0

49.9

7

Standard errors for quarterly homeownership rates by family income generally are 0.3 percent.

8Based on families or primary individuals reporting income.
10

Note: This press release along with more detailed data are available on the Internet. Our Internet address is:

www.census.gov/hhes/www/hvs.html

The estimates in this release are based on a sample survey and therefore are subject to both sampling and nonsampling error. Sampling error is a result of not surveying the entire population. Non-sampling error occurs because

accurate information cannot always be obtained. The standard errors provided in the tables are primarily measures of

sampling error.

Standard errors are used to: 1) measure the accuracy of the survey estimates, and 2) draw inferences from the

survey data. For example, the standard error on the estimated rental vacancy rate of 8.8 percent is 0.2 percentage points.

Consequently, the 90-percent confidence interval as shown by these data is from 8.5 percent to 9.1 percent; i.e., the

interval 8.8 + (1.6 x 0.2) percentage points. Thus, one can say with about 90-percent confidence that the average rental

vacancy rate derived from all possible samples is included in this confidence interval. Statements about differences are

made only when the 90-percent confidence interval on the estimated difference does not include zero.