Robert R. Callis               For Release 10:00 AM EDT, January 26, 1995
Alan Friedman                                   CB95-09
(301) 763-8165

                         CENSUS BUREAU REPORTS ON 
                  RESIDENTIAL VACANCIES AND HOMEOWNERSHIP

(Advance release of data to be presented in Series H-111, No. 94-Q4)
     
     Major changes related to the Current Population Survey/Housing Vacancy
Survey (CPS/HVS) were effective beginning with the first quarter 1994 data. 
First, a new weighting procedure was implemented based on the 1990
decennial census.  The 1990-based weighting produces, on average, estimates
of the total housing inventory that are about 0.1 percent lower than the
1980-based weighting.  Revised vacancy rates and homeownership rates are
provided in tables 1, 2, and 4 for 1993 to show the effect of this change. 
Generally, the vacancy rates are only minimally affected, while the
homeownership rate is about one-half of a percentage point lower with the
new weighting procedures.
 
Table 1.  RENTAL AND HOMEOWNER VACANCY RATES FOR THE UNITED STATES:         
          1980 to 1994

--------------------------------------------------------------------------------
              Rental vacancy rates             Homeowner vacancy rates
--------------------------------------------------------------------------------
         First   Second    Third   Fourth    First   Second    Third   Fourth
Year   quarter  quarter  quarter  quarter  quarter  quarter  quarter  quarter
--------------------------------------------------------------------------------
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.                               

     A second change is that the CPS/HVS has become a totally computerized
survey with the implementation of the Computer Assisted Survey Information
Collection (CASIC).  The CASIC tools consist of state-of-the-art computer-
assisted modules for data collection and processing.  Although the
concepts, definitions, and questionnaire items remain the same, the shift
to CASIC may affect vacancy rates and homeownership rates.  We are unable
to determine the quantitative effects of the use of CASIC on the vacancy
and homeownership rates.  Data users should use caution when comparing 1994
data with earlier data.

     National vacancy rates in the fourth quarter 1994 were 7.4 percent 
(+/-0.3) in rental housing and 1.6 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 revised fourth quarter
1993 rate, but not significantly different from the rate last quarter.  The
homeowner vacancy rate was higher than the revised fourth quarter 1993 rate
and higher than the rate last quarter.   

     The metropolitan/nonmetropolitan data shown in table 2 reflect 1980
census definitions.  The CPS/HVS began a major geographic redesign in April
1994.  The survey is gradually replacing sample cases selected from the
1980 census over a 15-month phase-in period with new sample cases drawn
from the 1990 census.  For this transitional period, we have converted 1990
sample cases to reflect 1980 metropolitan/nonmetropolitan definitions.  In
the first quarter 1995, we plan to convert to 1990
metropolitan/nonmetropolitan definitions.

     Table 2.  RENTAL AND HOMEOWNER VACANCY RATES BY REGION:
               FOURTH QUARTER 1994 AND 1993

--------------------------------------------------------------------------------
                       Rental vacancy rates        Homeowner vacancy rates  
--------------------------------------------------------------------------------
  Area              4th   4th  Std err  Standard   4th   4th  Std err  Standard
                    Qtr   Qtr  on 1994  error on   Qtr   Qtr  on 1994  error on
                   1994 1993r    rate   differ-   1994 1993r  rate     differ-
                                        ence                           ence
--------------------------------------------------------------------------------
United States...... 7.4   6.9    0.2      0.2      1.6   1.4    0.1     0.1  
 
 Inside MAs........ 7.2   7.0    0.2      0.3      1.6   1.4    0.1     0.1  
  In central                  
  cities........... 7.7   7.5    0.3      0.4      2.1   1.9    0.1     0.2 
  Not in central              
  cities (suburbs). 6.5   6.3    0.3      0.4      1.4   1.1    0.1     0.1  
                    
 Outside MAs....... 8.2   6.5    0.4      0.6      1.8   1.4    0.1     0.2  
                    
 Northeast......... 7.1   6.4    0.4      0.5      1.6   1.4    0.1     0.2  
 Midwest........... 6.8   6.2    0.4      0.5      1.2   1.1    0.1     0.1  
 South............. 8.3   7.4    0.3      0.4      1.9   1.5    0.1     0.1 
 West.............. 6.8   7.1    0.3      0.5      1.6   1.5    0.1     0.2  
rRevised.

     For rental housing, the vacancy rate was lowest in the suburbs (6.5
percent).  The rental vacancy rate outside Metropolitan Areas (MAs) was
higher than the revised rate a year ago, while rates in central cities and
in the suburbs were not significantly different from revised fourth quarter
1993 rates.

     For homeowner housing, the vacancy rate was also lowest in the suburbs
(1.4 percent).  The homeowner vacancy rates in the suburbs and outside MAs
were higher than revised rates a year ago, while the rate in central cities
was not significantly different from the revised fourth quarter 1993 rate.

     The rental vacancy rate was highest in the South (8.3 percent), while
rates in the Northeast, Midwest, and West were not significantly different
from each other.  The rental vacancy rate in the South was higher than the
revised rate a year ago, while rates in the other regions showed no
statistically significant change from fourth quarter 1993 rates. 

     For homeowner housing, the vacancy rate was highest in the South (1.9
percent) and lowest in the Midwest (1.2 percent).  The homeowner vacancy
rate in the South was higher than the revised fourth quarter 1993 rate,
while rates in the other regions showed no significant change from revised
fourth quarter 1993 rates.

     There were an estimated 111.8 million housing units in the United
States in the fourth quarter 1994.  Approximately 99.6 million were
occupied, 63.9 million by owners and 35.6 million by renters.  Of the 12.2
million vacant housing units, 9.4 million were for year-round use, while
the remaining 2.8 million were intended for seasonal use.  Approximately
2.9 million of the year-round vacant units were for rent, 1.1 million were
for sale only, and the remaining 5.4 million were vacant for a variety of
reasons.

 Table 3.  ESTIMATES OF THE TOTAL HOUSING INVENTORY FOR THE 
           UNITED STATES:  FOURTH QUARTER 1994
                       (Numbers in thousands)

--------------------------------------------------------------------------------
                                                   Standard    
           Type                     Estimate       error on       Percent
                                                   estimate  distribution
--------------------------------------------------------------------------------
           All housing units.....   111,806          231          100  
Occupied.........................    99,593          237           89
  Owner..........................    63,947          229           57
  Renter.........................    35,646          191           32 
Vacant...........................    12,213          121           11
  Year-round vacant..............     9,368          107            8
   For rent......................     2,864           60            3
   For sale only.................     1,076           37            1
   Other.........................     5,428           82            5
  Seasonal.......................     2,845           60            3


     During the fourth quarter 1994, the homeownership rate was 64.2
percent (+/-0.3).  The homeownership rate was not significantly different
from the rate last quarter or the revised fourth quarter 1993 rate.  


               Table 4.  HOMEOWNERSHIP RATES FOR THE UNITED STATES:
                         1980 to 1994

--------------------------------------------------------------------------------
                                   Homeownership Rates1
        Year         
                         First     Second      Third     Fourth
                       quarter    quarter    quarter    quarter
--------------------------------------------------------------------------------
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 7.4 is 0.2 percentage
points.  Consequently, the 90 percent confidence interval as shown by
these data is from 7.1 to 7.7; i.e., the interval 7.4 +/- (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.

Source: U.S. Census Bureau