Table 1.  Rental and Homeowner Vacancy Rates for the United States:
               1960 and 1965 to 2003


                    Rental  Vacancy Rates                   Homeowner  Vacancy Rates


Year        First     Second    Third     Fourth    First     Second    Third     Fourth
           quarter   quarter   quarter   quarter   quarter   quarter   quarter   quarter

2003......       9.4       9.6       9.9      10.2       1.7       1.7       1.9       1.8
2002\r....       9.1       8.4       9.0       9.3       1.7       1.7       1.7       1.7
2002......       9.1       8.5       9.1       9.4       1.7       1.7       1.7       1.7
2001......       8.2       8.3       8.4       8.8       1.5       1.8       1.9       1.8
2000......       7.9       8.0       8.2       7.8       1.6       1.5       1.6       1.6

1999......       8.2       8.1       8.2       7.9       1.8       1.6       1.6       1.6
1998......       7.7       8.0       8.2       7.8       1.7       1.7       1.7       1.8
1997......       7.5       7.9       7.9       7.7       1.7       1.6       1.5       1.7
1996......       7.9       7.8       8.0       7.7       1.6       1.5       1.7       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
1993\r....       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
1989\r....       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
1979\r....       5.1       5.5       5.7       5.4       1.1       1.1       1.2       1.3

1979......       4.8       5.0       5.2       5.0       1.0       1.1       1.1       1.1
1978......       5.0       5.1       5.0       5.0       1.0       0.9       1.0       1.1
1977......       5.1       5.3       5.4       5.1       1.3       1.3       1.1       1.0
1976......       5.5       5.8       5.7       5.3       1.2       1.2       1.3       1.2
1975......       6.1       6.3       6.2       5.4       1.2       1.2       1.4       1.2
1974......       6.2       6.3       6.2       6.0       1.2       1.1       1.2       1.3
1973......       5.7       5.8       5.8       5.8       1.0       0.9       1.1       1.2
1972......       5.3       5.5       5.8       5.6       1.0       1.0       0.9       1.0
1971......       5.3       5.3       5.6       5.6       1.0       0.9       1.0       1.0
1970......       5.4       5.4       5.3       5.2       1.0       1.0       1.1       1.1
1969......       5.6       5.7       5.5       5.1       1.0       1.0       1.1       1.0
1968......       6.1       6.2       5.9       5.4       1.1       1.1       1.2       1.2
1967......       7.3       6.9       7.0       6.2       1.4       1.3       1.4       1.3
1966......       8.3       7.4       7.4       7.7       1.5       1.5       1.4       1.3
1965......       8.5       8.2       7.8       8.5       1.7       1.5       1.6       1.5
1960......       8.0       8.0       8.3       8.4       1.2       1.3       1.3       1.3

\r Revised