Robert R. Callis               For Release 10:00 AM EDT, October 24, 1995
Alan Friedman                                   CB95-190
(301) 763-8165

                         CENSUS BUREAU REPORTS ON 
                  RESIDENTIAL VACANCIES AND HOMEOWNERSHIP
 
     National vacancy rates in the third quarter 1995 were 7.7 percent 
(+/-0.3) in rental housing and 1.5 percent (+/-0.1) in homeowner housing, the
Department of Commerce's Census Bureau announced today.  The Bureau said
that the rental vacancy rate was higher than the rate a year ago, but not
significantly different from the rate last quarter.  The homeowner vacancy
rate was not significantly different from the third quarter 1994 rate or
the rate last quarter.   

 
Table 1.  RENTAL AND HOMEOWNER VACANCY RATES FOR THE UNITED STATES:         
          1980 to 1995
              Rental vacancy rates              Homeowner vacancy rates
         First   Second    Third   Fourth    First   Second   Third  Fourth
 Year  quarter  quarter  quarter  quarter  quarter  quarter quarter quarter
                            .                                  .          
1995...   7.4      7.7      7.7               1.5      1.6     1.5   
1994...   7.5      7.4      7.2      7.4      1.4      1.4     1.4     1.6
1993r..   7.8      7.6      7.0      6.9      1.4      1.4     1.4     1.4
                                                                     
1993...   7.9      7.6      7.1      6.9      1.4      1.4     1.4     1.4
1992...   7.4      7.7      7.3      7.1      1.5      1.6     1.6     1.5
1991...   7.5      7.3      7.6      7.3      1.7      1.8     1.8     1.6  
1990...   7.5      7.0      7.2      7.2      1.7      1.7     1.7     1.7
1989r..   7.5      7.4      7.6      7.1      1.7      1.7     1.9     1.8
                                                                     
1989...   7.3      7.3      7.3      6.8      1.5      1.6     1.8     1.6
1988...   8.0      7.7      7.8      7.3      1.6      1.6     1.6     1.6
1987...   7.4      7.5      8.1      7.8      1.7      1.7     1.7     1.6
1986...   6.9      7.3      7.5      7.7      1.5      1.7     1.6     1.6
1985...   6.3      6.2      6.8      6.7      1.8      1.9     1.8     1.6
1984...   5.6      5.5      6.0      6.3      1.6      1.7     1.7     1.7
1983...   5.7      5.5      5.8      5.5      1.4      1.5     1.6     1.6
1982...   5.3      5.1      5.3      5.5      1.4      1.6     1.5     1.6
1981...   5.2      5.0      5.0      5.0      1.3      1.3     1.5     1.4
1980...   5.2      5.6      5.7      5.0      1.3      1.4     1.4     1.4

rRevised.                               


     For rental housing, the vacancy rate was lowest in the suburbs (6.6
percent).  The rental vacancy rate in central cities was about the same as
the rate outside Metropolitan Areas (MAs).

     For homeowner housing, the vacancy rate was highest in central cities
(2.0 percent) and lowest in the suburbs (1.2 percent).



     Table 2.  RENTAL AND HOMEOWNER VACANCY RATES BY REGION:
               THIRD QUARTER 1995 AND 1994

                        Rental vacancy rates         Homeowner vacancy rates   
  Area                 3rd   3rd Std err Standard   3rd   3rd Std err Standard 
                       Qtr   Qtr on 1995 error on   Qtr   Qtr on 1995 error on 
                      1995  1994    rate  differ-  1995  1994   rate   differ-  
                                             ence                         ence 
United States.......  7.7   7.2    0.2      0.2    1.5   1.4    0.1      0.1   
                          
  Inside MAs........  7.7    NA    0.2       NA    1.5    NA    0.1       NA   
                    
   In central cities  8.6    NA    0.3       NA    2.0    NA    0.1       NA   
   Not in central         
   cities (suburbs).  6.6    NA    0.3       NA    1.2    NA    0.1       NA   
                                
   Outside MAs......  7.9    NA    0.4       NA    1.6    NA    0.1       NA   
                    
  Northeast.........  7.1   7.0    0.4      0.5    1.5   1.5    0.1      0.2   
  Midwest...........  7.4   6.5    0.4      0.5    1.2   1.0    0.1      0.1   
  South.............  8.2   7.8    0.3      0.4    1.6   1.6    0.1      0.1   
  West.............   7.9   7.2    0.3      0.5    1.6   1.7    0.1      0.2   

rRevised.
NA Not available.


     Among regions, the rental vacancy rate ranged from 7.1 percent in the
Northeast to 8.2 percent in the South.  The rental vacancy rate in the
Midwest was higher than the third quarter 1994 rate, while rates in the
Northeast, South, and West did not differ significantly from one year ago. 

     For homeowner housing, vacancy rates in the South and West (1.6
percent) were higher than in the Midwest (1.2 percent), but not
significantly different from the Northeast.  The homeowner vacancy rates in
each region showed no significant change from a year ago.

     There were an estimated 112.5 million housing units in the United
States in the third quarter 1995.  Approximately 99.9 million were
occupied, 64.9 million by owners and 35.0 million by renters.  Of the 12.7
million vacant housing units, 9.6 million were for year-round use, while
the remaining 3.1 million were intended for seasonal use.  Approximately
3.0 million of the year-round vacant units were for rent, 1.0 million were
for sale only, and the remaining 5.6 million were vacant for a variety of
reasons.

 Table 3.  ESTIMATES OF THE TOTAL HOUSING INVENTORY FOR THE 
           UNITED STATES:  THIRD QUARTER 1995

                       (Numbers in thousands)
                                                 Standard     
           Type                  Estimate        error on        Percent
                                                 estimate   distribution
                                 
        All housing units.....   112,530           230           100  
                                                
Occupied.......................   99,874           237            89
  Owner........................   64,885           230            58
  Renter.......................   34,989           190            31
                              
Vacant.........................   12,656           123            11
  Year-round vacant............    9,557           108             8
   For rent....................    2,966            61             3
   For sale only...............      987            36             1
   Other.......................    5,604            83             5
                               
  Seasonal.....................    3,099            63             3

     During the third quarter 1995, the homeownership rate was 65.0 percent
(+/-0.3).  The homeownership rate was higher than a year ago, but not
significantly different from the rate last quarter.  


               Table 4.  HOMEOWNERSHIP RATES FOR THE UNITED STATES:
                         1980 to 1995
                                    Homeownership Rates1
        Year         
                          First      Second       Third      Fourth
                        quarter     quarter     quarter     quarter
                                                   .            
1995.................    64.2        64.7        65.0          
1994.................    63.8        63.8        64.1        64.2
1993r................    63.7        63.9        64.2        64.2
                                 
1993.................    64.2        64.4        64.7        64.6
1992.................    64.0        63.9        64.3        64.4
1991.................    63.9        63.9        64.2        64.2   
1990.................    64.0        63.7        64.0        64.1
1989r................    63.9        63.8        64.1        63.8
                                                          
1989.................    63.9        63.9        64.0        63.8
1988.................    63.7        63.7        64.0        63.8
1987.................    63.8        63.8        64.2        64.1
1986.................    63.6        63.8        63.8        63.9
1985.................    64.1        64.1        63.9        63.5
1984.................    64.6        64.6        64.6        64.1
1983.................    64.7        64.7        64.8        64.4
1982.................    64.8        64.9        64.9        64.5
1981.................    65.6        65.3        65.6        65.2
1980.................    65.5        65.5        65.8        65.5
1Standard errors for quarterly homeownership rates for the United States 
 generally are 0.2 percent.
rRevised.

     The data in this release are the result of a sample survey and are,
therefore, subject to sampling variability.  For example, the standard
error on the estimated rental vacancy rate of 7.7 is 0.2 percentage
points.  Consequently, the 90 percent confidence interval as shown by
these data is from 7.4 to 8.0; i.e., the interval 7.7 + (1.6 x 0.2)
percentage points.  Thus, one can say with about 90 percent confidence
that the average estimate derived from all possible samples is included
in this confidence interval.  The 90 percent confidence intervals are
shown in the text above for selected items.  The standard errors for
other figures in this release are given in the tables.
     Hypothesis testing may be performed at various levels of
significance, where a level of significance is the probability of
concluding that the parameters are different when, in fact, they are
identical.  All statements of comparison in the text have passed a
hypothesis test at the 0.10 level of significance.  This means that, for
differences cited in the text, the estimated difference between
characteristics is greater than 1.6 times the standard error of the
difference.
     In addition to sampling error, the figures in this release, both the
estimates and their standard errors, are also subject to nonsampling
error.