UNITED STATES DEPARTMENT OF

COMMERCE

NEWS

WASHINGTON, D.C. 20230

Robert R. Callis For Release 10:00 AM EDT, October 25, 2001

Linda B. Cavanaugh CB01-167

(301)457-3199

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND

HOMEOWNERSHIP

National vacancy rates in the third quarter 2001 were 8.4 percent in rental housing and 1.9 percent in

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

that while the rental vacancy rate remained statistically unchanged from the corresponding rates for last year and

last quarter, the homeowner vacancy rate was higher than the rate for the third quarter 2000, but was unchanged

from the rate 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

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

 1.6

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
For rental housing, the vacancy rate was highest outside Metropolitan Areas (MAs), 10.4 percent, and lowest

in the suburbs, 7.1 percent. The rental vacancy rate outside MAs was higher than the rate a year ago, while other area

rates did not change.

The homeowner vacancy rate was lowest in the suburbs, 1.5 percent. Homeowner vacancy rates for all

areas except outside MAs were higher than their respective rates in the third quarter 2000.

Among regions, the rental vacancy rate was highest in the South, 10.8 percent, and lowest in the

Northeast, 5.5 percent. Only the West, 6.6 percent, had a rate that was higher than last year, while rates in the

other regions were not significantly different.

The Northeast, 1.3 percent, had the lowest homeowner vacancy rate and the South, 2.3 percent, had the

highest. The homeowner vacancy rate was higher in the Midwest, 1.8 percent, and the South, 2.3 percent, than

one year ago, while rates in the other regions did not change significantly during the same time period.

Table 2. Rental and Homeowner Vacancy Rates by Area:

 Third Quarter 2001 and 2000 (in percent)

Rental vacancy rates Homeowner vacancy rates

Area Third

Quarter

2001

Third

Quarter

2000

Standard

error on

2001

rate

Standard

error on

difference

Third

Quarter

2001

Third

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..................

8.4

8.0

8.8

7.1

10.4

5.5

 9.3

10.8

6.6

8.2

8.0

8.5

7.5

9.1

5.8

9.6

10.6

5.7

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

1.9

1.7

2.3

1.5

2.4

1.3

1.8

2.3

1.7

1.6

1.4

1.8

1.2

2.4

1.2

1.3

2.0

1.5

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
There were an estimated 121.2 million housing units in the United States in the third quarter 2001.

Approximately 106.8 million housing units were occupied, 72.8 million by owners and 34.1 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 3.2 million of the year-round vacant units were for-rent, 1.4 million were for-sale-only, and the

remaining 6.3 million were vacant for a variety of reasons.

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

 Third Quarter 2001 and 2000

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

 Type

Third

 Quarter Quarter

2001 2000

 Third

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.....................

121,195

106,847

72,774

34,073

14,348

10,857

3,164

1,410

6,283

 3,491

119,785

105,800

71,637

34,163

13,985

10,597

3,098

 1,180

6,319

3,388

232

243

244

196

135

119

66

44

92

69

329

345

345

277

190

167

92

60

130

97

100

88

60

28

12

9

3

1

5

3
4

During the third quarter 2001, the homeownership rate, 68.1 percent, was higher than the corresponding

rates for the third quarter 2000, 67.7 percent, and the second quarter 2001, also 67.7 percent.

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

 (in percent)

 Year

Homeownership Rates1

First

Quarter

Second

Quarter Quarter

 Third 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

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.

r

Revised.
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.) Neither the seasonally

adjusted homeownership rate for the third quarter 2000, 67.5 percent, nor the rate last quarter, 67.8 percent,

were significantly different from the current rate, 67.9 percent.

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

 Seasonally Adjusted (in percent)

 Year

Homeownership Rates2 (Seasonally Adjusted)

First

Quarter

Second

Quarter Quarter

 Third 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

67.6

67.0

66.5

r

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.

r

Revised.
6

During the third quarter 2001, the homeownership rate in the Midwest, 72.9 percent, was the highest. The

rates for the Northeast, 64.1 percent, and West, 63.1 percent, were not significantly different from each other.

The homeownership rate for the West was higher than the third quarter 2000 rate, while rates in the Northeast,

Midwest, and South were not significantly different from a year ago.

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

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

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

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

2000

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

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

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

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

1999

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

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

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

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

68.1

67.7

67.5

67.5

67.7

67.2

67.1

66.9

67.0

66.6

66.7

64.1

63.2

63.6

63.2

63.9

63.4

63.3

63.2

63.6

62.8

62.7

72.9

72.7

73.2

73.1

72.9

72.2

72.2

72.5

72.1

71.2

71.2

70.1

69.7

69.3

69.8

69.7

69.2

69.5

69.1

69.3

68.9

69.2

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 41.6 percent for Under 35 years old, to

81.6 percent for the 55 to 64 years age group during the third quarter 2001. The homeownership rate for third

quarter 2001 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

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.........

 68.1

 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

 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

 68.6

 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

 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

 81.6

 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

 80.3

 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 ranged from 74.6 percent for White non-Hispanic

householders to 47.5 percent for Black householders. None of the rates for third quarter 2001 changed

significantly from those reported for the third quarter 2000.

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

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..........

 68.1

 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

 71.9

 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

74.6

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

 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

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

 48.1

 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 81.7 percent to 82.2 percent since last year, while the rate for households with incomes less than

the median family income was unchanged 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

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.................

 68.1

 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

82.0

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

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

non-sampling 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 8.4 percent is 0.2

percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 8.1 percent to

8.7 percent; i.e., the interval 8.4 + (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.