Robert R. Callis               For Release 10:00 AM EDT, July 22, 1996
Alan Friedman                                   CB96-112
(301) 763-8165

                         CENSUS BUREAU REPORTS ON 
                  RESIDENTIAL VACANCIES AND HOMEOWNERSHIP
 
     National vacancy rates in the second quarter 1996 were 7.8 (+/-0.3)
percent in rental housing and 1.5 (+/-0.1) percent in homeowner housing, the
Department of Commerce's Census Bureau announced today.  The Bureau said
that neither the rental vacancy rate nor the homeowner vacancy rate was
significantly different from the rate last quarter or the rate in the
second quarter 1995.


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                        1.6      1.5  
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 was highest outside Metropolitan
Areas (MAs) (8.8 percent).  The rental vacancy rate in the suburbs (7.2
percent) was higher than the rate one year ago, while the rate in central
cities (7.8 percent) was lower.  There was no significant difference
between the central city and suburban vacancy rate.

     For homeowner housing, the vacancy rate outside MAs (1.9 percent) was
higher than the rate in the suburbs (1.2 percent), but not significantly
different from the rate in central cities.  The homeowner vacancy rate
outside MAs was higher than the rate one year ago, while the rate in
central cities (1.7 percent) was lower.

     Among regions, the rental vacancy rate was highest in the South (8.6
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 rate was highest in the South (1.9 percent). 
The homeowner vacancy rate in the West was lower than the second quarter
1995 rate, while rates in the Northeast, Midwest, and South showed no
significant change from one year ago.


     Table 2.  RENTAL AND HOMEOWNER VACANCY RATES BY REGION:
               SECOND QUARTER 1996 AND 1995 (in percent)


                       Rental vacancy rates         Homeowner vacancy rates   

  Area                2nd   2nd Std err Standard   2nd   2nd Std err Standard 
                      Qtr   Qtr on 1996 error on   Qtr   Qtr on 1996 error on 
                     1996  1995    rate  differ-  1996  1995   rate   differ-  

                       .                           .                          
United States.......  7.8   7.7    0.2      0.2    1.5   1.6    0.1      0.1   
                         
  Inside MAs........  7.5   7.6    0.2      0.3    1.4   1.6    0.1      0.1   
                    
   In central cities  7.8   8.5    0.3      0.4    1.7   2.2    0.1      0.2   
   Not in central   
   cities (suburbs).  7.2   6.5    0.3      0.4    1.2   1.3    0.1      0.1   
                    
   Outside MAs......  8.8   8.2    0.5      0.6    1.9   1.5    0.1      0.2   
                    
  Northeast.........  7.6   7.5    0.4      0.6    1.4   1.5    0.1      0.2   
  Midwest...........  7.2   7.1    0.4      0.5    1.1   1.3    0.1      0.1   
  South.............  8.6   8.2    0.3      0.4    1.9   1.8    0.1      0.1   
  West.............   7.2   7.7    0.3      0.5    1.3   1.8    0.1      0.2   

     There were an estimated 114.2 million housing units in the United
States in the second quarter 1996.  Approximately 101.1 million were
occupied, 66.1 million by owners and 34.9 million by renters.  Of the
13.1 million vacant housing units, 9.9 million were for year-round use,
while the remaining 3.2 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 6.0 million were vacant
for a variety of reasons.


 Table 3.  ESTIMATES OF THE TOTAL HOUSING INVENTORY FOR THE 
           UNITED STATES:  SECOND QUARTER 1996 and 1995 
           (Numbers in thousands)


           Type                                      Standard    Standard 
                                   2nd       2nd     error on    error   
                                   Qtr       Qtr     1996        on      
                                   1996     1995     Estimate    difference


           All housing units..... 114,207   112,743    238         331  
                                 
Occupied......................... 101,082    99,932    246         342
  Owner..........................  66,147    64,668    240         333
  Renter.........................  34,935    35,264    197         274
                               
Vacant...........................  13,125    12,811    130         179
  Year-round.....................   9,949     9,794    114         158
   For rent......................   2,975     2,969     64          88
   For sale only.................     997     1,046     37          52
   Other.........................   5,977     5,779     90         123
  
  Seasonal.......................   3,176     3,017     66          90

     During the second quarter 1996, the homeownership rate was 65.4 (+/-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 
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 second quarter 1996 were highest in the
Midwest (70.5 percent) and lowest in the West (59.8 percent).  The
homeownership rates in Midwest and South were higher than in the second
quarter 1995, while rates in the Northeast 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        
           
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.


     Homeownership rates by age of householder ranged from 39.3 percent for
householders less than 35 years old to 80.0 percent for householders 55 to
64 years old in the second quarter 1996.  The homeownership rate for
householders 65 years and over was higher than in the second 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     
        
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.


     The homeownership rate in the second quarter 1996 was highest for
White Non-Hispanic householders at 71.7 percent.  The homeownership rates
for White Non-Hispanic and Black Non-Hispanic householders were higher than
in the second quarter 1995.  Homeownership rates for Other race Non-
Hispanic householders and Hispanic householders showed no significant
difference from a year ago.


     Table 7.  HOMEOWNERSHIP RATES BY RACE AND ETHNICITY OF HOUSEHOLDER:
               1994 to 1996 (in percent)                             

                             Homeownership Rates4

                                    Non-Hispanic        
 Year/Quarter         U.S.  
                      total    White    Black    Other    Hispanic

1996  
     
2nd Quarter           65.4     71.7     44.0     50.4       43.9
1st Quarter           65.1     71.4     44.2     51.5       41.4
          
1995     
        
4th Quarter           65.1     71.2     44.6     52.1       41.1
3rd Quarter           65.0     71.1     43.3     52.0       42.5
2nd Quarter           64.7     70.9     42.3     50.6       42.8
1st Quarter           64.2     70.4     41.5     51.5       41.8
       
1994  
     
4th Quarter           64.2     70.2     42.9     51.2       42.2
3rd Quarter           64.1     70.0     42.9     51.0       41.4
2nd Quarter           63.8     69.9     42.0     48.5       41.1
1st Quarter           63.8     69.8     42.4     52.5       40.3

4Standard errors for quarterly homeownership rates by race and ethnicity of 
 householder generally are 0.2 percent for White Non-Hispanic, 0.5 for
 Black Non-Hispanic, 1.0 percent for Other Non-Hispanic, and 0.7 percent
 for Hispanic householders.


     The homeownership rate for households with incomes less than the
median family income in the second quarter 1996 was 49.2 percent, compared
to 80.3 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 second 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       
          
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/hhes/www/hvs.html 


     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 7.8 is 0.2 percentage points. 
Consequently, the 90 percent confidence interval as shown by these data is
from 7.5 to 8.1; i.e., the interval 7.8 +/- (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.