Robert R. Callis               For Release 10:00 AM EDT, October 22, 1996
Alan Friedman                                   CB96-170
(301) 763-8165

                         CENSUS BUREAU REPORTS ON 
                  RESIDENTIAL VACANCIES AND HOMEOWNERSHIP
 
     National vacancy rates in the third quarter 1996 were 8.0 (+/-0.3)
percent in rental housing and 1.7 (+/-0.1) percent in homeowner housing, the
Department of Commerce's Census Bureau announced today.  The Bureau said
that the rental vacancy rate was not significantly different from the rate
last quarter or the rate in the third quarter 1995.  However, the homeowner
vacancy rate was higher than the rate last quarter and also higher than the
third quarter 1995 rate.

Table 1.  RENTAL AND HOMEOWNER VACANCY RATES FOR THE UNITED STATES:         
          1980 to 1996 (in percent)

              Rental vacancy rates         Homeowner vacancy rates

         First  Second  Third   Fourth   First  Second  Third  Fourth
 Year  quarter quarter quarter quarter quarter quarter quarter quarter

                          .                              .  
1996...  7.9     7.8     8.0             1.6     1.5     1.7       
1995...  7.4     7.7     7.7     7.7     1.5     1.6     1.5     1.6
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 in central cities was higher than
in the suburbs, but not significantly different from the rate outside
Metropolitan Areas (MAs).  The rental vacancy rates in central cities, in
the suburbs, and outside MAs were not significantly different from one year
ago.

     For homeowner housing, the vacancy rate in central cities was also
higher than in the suburbs, but not significantly different from the rate
outside MAs.  The homeowner vacancy rate in the suburbs was higher than the
rate one year ago, while the rates in central cities and outside MAs were
not significantly different from one year ago.

     Among regions, the rental vacancy rate remained highest in the South
(8.7 percent).  The rental vacancy rates in the Northeast, Midwest, and
West were not significantly different from each other.  The rental vacancy
rates in each region did not differ significantly from one year ago.  

     The homeowner vacancy rates in the South and West were higher than in
the Midwest, but not significantly different from the rate in the
Northeast.  The homeowner vacancy rates in each region did not differ
significantly from one year ago.   



     Table 2.  RENTAL AND HOMEOWNER VACANCY RATES BY REGION:
               THIRD QUARTER 1996 AND 1995 (in percent)


                       Rental vacancy rates        Homeowner vacancy rates  

  Area                3rd  3rd Std err Standard  3rd  3rd Std err Standard
                      Qtr  Qtr on 1996 error on  Qtr  Qtr on 1996 error on
                     1996 1995    rate  differ- 1996 1995   rate   differ- 
                                         ence                       ence 

                       .                        .                      
United States.......  8.0  7.7    0.2     0.3    1.7  1.5    0.1     0.1  
                                                                     
  Inside MAs........  7.9  7.7    0.2     0.3    1.6  1.5    0.1     0.1  
                                                                      
   In central cities  8.7  8.6    0.3     0.4    1.8  2.0    0.1     0.2  
                                                                      
   Not in central                                                     
   cities (suburbs).  7.1  6.6    0.3     0.4    1.6  1.2    0.1     0.1  
                                                                      
   Outside MAs......  8.4  7.9    0.5     0.6    1.7  1.6    0.1     0.2  
                                                                     
                                                                     
  Northeast.........  7.8  7.1    0.4     0.6    1.6  1.5    0.1     0.2 
                                                                     
  Midwest...........  7.8  7.4    0.4     0.6    1.4  1.2    0.1     0.1
                                                                      
  South.............  8.7  8.2    0.3     0.4    1.8  1.6    0.1     0.1  
                                                                      
  West.............   7.4  7.9    0.3     0.5    1.8  1.6    0.1     0.2  



     There were an estimated 114.5 million housing units in the United
States in the third quarter 1996.  Approximately 101.1 million were
occupied, 66.3 million by owners and 34.8 million by renters.  The number
of owner-occupied units was higher than one year ago, while the number of
renter-occupied units was not significantly different from a year ago. 
Of the 13.4 million vacant housing units, 10.2 million were for year-
round use, while the remaining 3.2 million were intended for seasonal
use.  Approximately 3.1 million of the year-round vacant units were for
rent, 1.1 million were for sale only, and the remaining 6.0 million were
vacant for a variety of reasons.  There was an increase in the number of
vacant for-sale-only units and those vacant for a variety of reasons from
the third quarter 1995, while the number of vacant for-rent and seasonal
vacant units was not significantly different from one year ago.




 Table 3.  ESTIMATES OF THE TOTAL HOUSING INVENTORY FOR THE 
           UNITED STATES:  THIRD QUARTER 1996 and 1995 
           (Numbers in thousands)
                                                                      
 
                                                            
           Type                        Standard               
                        Third   Third  error on    Standard    Percent  
                      quarter quarter      1996    error on   of total
                         1996    1995  Estimate  difference     (1996)

                                                            
All housing units.....114,534  112,530    238        331         100
                                                            
  Occupied............101,120   99,874    246        342          88
    Owner............. 66,288   64,885    240        333          58
    Renter............ 34,832   34,989    197        274          30
                                                            
  Vacant.............. 13,414   12,656    131        180          12
    Year-round........ 10,197    9,557    116        158           9
      For rent........  3,080    2,966     65         89           3
      For sale only...  1,119      987     39         53           1
      Other...........  5,998    5,604     90        123           5
                                                            
    Seasonal..........  3,217    3,099     66         91           3



     During the third quarter 1996, the homeownership rate was 65.6 (+/-0.3)
percent.  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 1996
               (in percent)

                                   Homeownership Rates1
        Year        
                         First     Second      Third     Fourth
                       quarter    quarter    quarter    quarter

                                                .           
 1996................   65.1       65.4       65.6             
 1995................   64.2       64.7       65.0       65.1  
 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.






     Homeownership rates in the third quarter 1996 were highest in the
Midwest (70.7 percent) and lowest in the West (59.2 percent).  The
homeownership rate in the South was higher than the third quarter 1995
rate, while rates in the Northeast, Midwest, and West were not
statistically different from a year ago.





     Table 5.  HOMEOWNERSHIP RATES FOR THE UNITED STATES AND REGIONS:
               1994 to 1996 (in percent)


                        Homeownership Rates2      

 Year/Quarter  U.S. total   Northeast   Midwest   South    West

                                                         
1996                                                     
                                                         
3rd Quarter       65.6        62.8        70.7     67.5    59.2
2nd Quarter       65.4        62.3        70.5     67.2    59.8
1st Quarter       65.1        61.4        70.4     67.5    58.9
                                                         
1995                                                     
                                                         
4th Quarter       65.1        61.6        70.1     67.5    59.0
3rd Quarter       65.0        62.2        70.1     66.6    59.1
2nd Quarter       64.7        62.3        68.5     66.5    59.8
1st Quarter       64.2        61.9        67.9     66.1    58.9
                                                         
1994                                                     
                                                         
4th Quarter       64.2        61.4        68.6     65.7    59.6
3rd Quarter       64.1        61.4        67.9     66.0    59.0
2nd Quarter       63.8        61.3        67.5     65.2    59.7
1st Quarter       63.8        61.7        66.8     65.6    59.5

                                                    
2Standard errors for quarterly homeownership rates by region generally are  
 0.4 percent.





     In the third quarter 1996, homeownership rates by age of householder
ranged from 39.0 percent for householders less than 35 years old to 79.7
percent for householders 55 to 64 years old.  The homeownership rate for
householders 35 to 44 years old was higher than in the third quarter 1995,
while rates for other age groups showed no significant change from a year
ago.



Table 6.  HOMEOWNERSHIP RATES BY AGE OF HOUSEHOLDER:  1994 to 1996
          (in percent)                      


                             Homeownership Rates3                              

 Year/Quarter     U.S.  Less than  35 to 44  45 to 54  55 to 64 65 years
                 total   35 years    years     years     years  and over

                                                                
1996                                                            
                                                                
3rd Quarter        65.6    39.0       66.3      75.9      79.7     78.6
2nd Quarter        65.4    39.3       65.5      75.5      80.0     78.9
1st Quarter        65.1    38.8       64.6      75.5      80.2     79.1
                                                                
1995                                                            
                                                                
4th Quarter        65.1    39.1       65.5      75.2      79.5     78.7
3rd Quarter        65.0    39.1       65.4      75.4      79.3     78.1
2nd Quarter        64.7    38.7       65.1      75.2      79.9     78.1
1st Quarter        64.2    37.7       64.9      74.9      79.4     77.5
                                                                
1994                                                            
                                                                
4th Quarter        64.2    38.0       64.7      74.9      79.2     77.7
3rd Quarter        64.1    37.5       64.3      75.5      79.4     77.2
2nd Quarter        63.8    36.8       64.6      75.2      79.1     77.2
1st Quarter        63.8    37.1       64.4      75.0      79.3     77.4
                                                                 


3Standard errors for quarterly homeownership rates by age of householder       
 generally are 0.4 percent.




     In the third quarter 1996, the homeownership rate was highest for
White Non-Hispanic householders at 71.8 percent.  The homeownership rates
for White Non-Hispanic householders, Black householders, and Other race
householders were higher than in the third quarter 1995, while the rate for
Hispanics showed no significant change.  





     Table 7.  HOMEOWNERSHIP RATES BY RACE AND ETHNICITY OF HOUSEHOLDER:  
               1994 to 1996 (in percent)                             


                        Homeownership Rates4
  
                                  White          Other  
Year/Quarter      U.S.  White,      Non- Black,   Race,  Hispanic,
                 total  total  Hispanic  total   total     total

                                                        
1996                                                    
                                                        
3rd Quarter      65.6    69.2    71.8     44.5    51.5      43.5
2nd Quarter      65.4    69.2    71.7     43.7    50.0      43.9
1st Quarter      65.1    68.7    71.4     43.8    50.9      41.4
                                                        
1995                                                    
                                                        
4th Quarter      65.1    68.8    71.2     44.3    48.4      41.1
3rd Quarter      65.0    69.0    71.1     43.0    46.5      42.5
2nd Quarter      64.7    68.7    70.9     42.2    46.7      42.8
1st Quarter      64.2    68.2    70.4     41.2    47.2      41.8
                                                        
1994                                                    
                                                       
4th Quarter      64.2    68.0    70.2     42.6    47.6      42.2
3rd Quarter      64.1    67.8    70.0     42.7    46.9      41.4
2nd Quarter      63.8    67.6    69.9     41.8    46.3      41.1
1st Quarter      63.8    67.4    69.8     42.1    50.1      40.3


4Standard errors for quarterly homeownership rates by race and ethnicity of 
householder generally are 0.2 percent for White total and White Non-
Hispanic householders, 0.5 for Black householders, 1.0 percent for Other
Race householders, and 0.7 percent for Hispanic householders.






     The homeownership rate for households with incomes less than the
median family income in the third quarter 1996 was 49.4 percent, compared
to 80.5 percent for households with incomes greater than or equal to the
median family income.  The rate for higher-income households was higher
than in the third quarter 1995, while the rate for lower-income households
was not statistically different from last year.


     Table 8.  HOMEOWNERSHIP RATES BY FAMILY INCOME:  
               1994 to 1996 (in percent)                         


                                 Homeownership Rates5

                     U.S. total        Households with   Households with
 Year/Quarter                    family income greater     family income   
                                    or equal to median  less than median
                                        family income6    family income6     

                                                       
1996                                                  
                                                     
3rd Quarter             65.6            80.5                  49.4
2nd Quarter             65.4            80.3                  49.2
1st Quarter             65.1            79.7                  49.4
                                                       
1995                                                   
                                                       
4th Quarter             65.1            79.8                  49.4
3rd Quarter             65.0            79.6                  49.0
2nd Quarter             64.7            79.5                  48.6
1st Quarter             64.2            79.1                  48.1
                                                       
1994                                                   
                                                       
4th Quarter             64.2            78.8                  48.6
3rd Quarter             64.1            78.3                  48.9
2nd Quarter             63.8            78.4                  48.0
1st Quarter             63.8            78.5                  48.1
                                                       



5Standard errors for quarterly homeownership rates by family income         
 generally are 0.3 percent.
6Based on families or primary individuals reporting income.



 Note:  This press release along with more detailed data is available on the 
 Internet.  Our Internet address is:                                         
 http://www.census.gov/ftp/pub/hhes/www/hvs.html                             




     The data 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.  Nonsampling 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 8.0 percent is 0.2
percentage points.  Consequently, the 90 percent confidence interval as
shown by these data is from 7.7 to 8.3; i.e., the interval 8.0 + (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.