Robert R. Callis                                             For Release 10:00 AM EDT, July 22, 1997 
Linda Cavanaugh                                                      CB97-115
(301) 763-8165

<b>           CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND<br />
                              HOMEOWNERSHIP
</b>
(The numbers in parentheses denote the 90-percent confidence intervals.)

     National vacancy rates in the second quarter 1997 were 7.9  (+/- 0.3) percent in rental housing and 
1.6  (+/-0.1) percent in homeowner housing, the Department of Commerce's Census Bureau announced today.  The
Census Bureau said that the rental vacancy rate was higher than the rate last quarter, but not significantly
different from the rate in the second quarter 1996.   The homeowner vacancy rate was higher than the second
quarter 1996 rate, but not significantly different from the rate last quarter.

Table 1.  Rental and Homeowner Vacancy Rates for the United States:
        1980 to 1997 (in percent)


          Rental Vacancy Rate    Homeowner Vacancy Rate
      
    
     First Second  Third  Fourth  First   Second  Third   Fourth
   Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
                                                            

1997  7.5    7.9                   1.7     1.6
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
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 higher in central cities and outside Metropolitan Areas (MAs),
8.2 percent and 8.7 percent than in the suburbs, 7.3 percent.  (The 8.2 percent and the 8.7 percent were not
significantly different from each other).  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 rates in central cities and outside MAs, 1.9 percent and 1.7 percent,
were higher than in suburbs, 1.5 percent.  (The 1.7 percent and the 1.9 percent were not significantly different
from each other).  The homeowner vacancy rate in the suburbs was higher than the rate one year ago, while rates
in central cities and outside MAs did not change significantly.

    Among regions, the rental vacancy rate was highest in the South at 9.3 percent, compared with 8.2
percent in the Midwest, 6.8 percent in the West, and 6.7 percent in the Northeast.  (The 6.8 percent was not
significantly different from the 6.7 percent).  The rental vacancy rates in the Midwest and South were higher than
a year ago, while the rate in the Northeast was lower than the rate one year ago.  There was no significant
difference in the West from one year ago.  

    The homeowner vacancy rate was lowest in the Midwest at 1.1 percent.  Homeowner vacancy rates in
the Northeast, South, and West were not significantly different from each other.  The homeowner vacancy rate in
the West was higher than one year ago, while rates in the Northeast, Midwest, and South showed no significant
change from one year ago.

Table 2.  Rental and Homeowner Vacancy Rates By Area:
              Second Quarter 1997 and 1996 (in percent)

             
               Rental vacancy rates            Homeowner vacancy rates          
         
                 2nd 2nd  Std err Standard   2nd   2nd Std err  Standard    
Area             Qtr  Qtr  on 1997 error on    Qtr   Qtr on 1997 error on       
                1997 1996    rate    differ-  1997  1996    rate   differ-      
                                       ence                          ence       
                                                              
                                              
United States.. 7.9   7.8     0.2     0.3     1.6   1.5     0.1     0.1     
 Inside MAs.... 7.8   7.5     0.2     0.3     1.6   1.4     0.1     0.1
  In central
   cities...... 8.2   7.8     0.3     0.4     1.9   1.7     0.1     0.2
  Not in central
   cities (sub-
   urbs)....... 7.3   7.2     0.3     0.4     1.5   1.2     0.1     0.1
 Outside MAs... 8.7   8.8     0.5     0.7     1.7   1.9     0.1     0.2
  
 Northeast..... 6.7   7.6     0.4     0.6     1.6   1.4     0.1     0.2 
 Midwest....... 8.2   7.2     0.4     0.6     1.1   1.1     0.1     0.1
 South......... 9.3   8.6     0.3     0.5     1.9   1.9     0.1     0.1
 West.......... 6.8   7.2     0.3     0.5     1.9   1.3     0.1     0.2 

    There were an estimated 115.7 million housing units in the United States in the second quarter 1997. 
Approximately 102.0 million housing units were occupied, 67.1 million by owners and 35.0 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 13.7 million vacant housing units, 10.4 million were for year-round use. 
Approximately 3.0 million of the year-round vacant units were for-rent, 1.1 million were for-sale-only, and the
remaining 6.2 million were vacant for a variety of reasons.  There was an increase in the number of vacant for-sale-only
and other vacant units, while the number of for-rent and seasonal vacant units did not change significantly from one
year ago.

Table 3.  Estimates of the Total Housing Inventory for the United States:
              Second Quarter 1997 and 1996
              (Numbers in Thousands)
                                                                                                         Standard         Standard             
           Type              2nd     2nd    error on  Standard   Percent of    
                             Qtr      Qtr       1997    error on     total      
                             1997    1996   Estimate  difference   (1997)
                               
  All housing units........115,722   114,207    237       336        100
                                                             
Occupied...................102,046   101,082    246       348         88
  Owner ................... 67,094    66,147    241       340         58
  Renter................... 34,952    34,935    198       279         30
                                                             
Vacant..................... 13,676    13,125    132       186         12
 Year-round vacant......... 10,356     9,949    116       163          9
   For rent................  3,043     2,975     64        91          3
   For sale only...........  1,107       997     39         54         1       
   Other...................  6,206     5,977     91        128         5       
                                         
 Seasonal................... 3,320     3,176     67        94          3


    During the second quarter 1997, the homeownership rate was 65.7 percent (+/-0.3) percent.  The
homeownership rate was not significantly different from the rate last quarter or the rate one year ago.

Table 4.  Homeownership Rates for the United States: 1980 to 1997
               (in percent)

                                  Homeownership Rates1

         Year           First       Second       Third      Fourth
                       Quarter      Quarter     Quarter     Quarter

                                       
1997.................    65.4        65.7
1996.................    65.1        65.4        65.6        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 1997 were highest in the Midwest 70.3 percent, and lowest in the
West 59.9 percent.  The homeownership rate in the South was higher than the second quarter 1996 rate, while
rates in the Northeast, Midwest, and West showed no significant change from the second quarter 1996.

Table 5.  Homeownership Rates for the United States and Regions:
               1994 to 1997 (in percent)
                               Homeownership Rates2

Year/Quarter       United      Northeast    Midwest    South    West   
                   States
                       
1997
              
Second Quarter       65.7         62.4         70.3      68.1     59.9
First Quarter        65.4         61.6         70.6      67.8     59.0

1996

Fourth Quarter       65.4         62.3         70.8      67.6     58.9
Third Quarter        65.6         62.8         70.7      67.5     59.2
Second Quarter       65.4         62.3         70.5      67.2     59.8
First Quarter        65.1         61.4         70.4      67.5     58.9

1995

Fourth Quarter       65.1         61.6         70.1      67.5     59.0
Third Quarter        65.0         62.2         70.1      66.6     59.1
Second Quarter       64.7         62.3         68.5      66.5     59.8
First Quarter        64.2         61.9         67.9      66.1     58.9

1994

Fourth Quarter       64.2         61.4         68.6      65.7     59.6
Third Quarter        64.1         61.4         67.9      66.0     59.0
Second Quarter       63.8         61.3         67.5      65.2     59.7
First 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 38.6 percent for householders less than 35
years old to 80.3 percent for householders 55 to 64 years old in the second quarter 1997.  The homeownership
rate for householders 35 to 44 years old was higher than the rate one year ago, while rates for all other age
categories showed no significant change.

Table 6.  Homeownership Rates by Age of Householder: 1994 to 1997
               (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 
                 .
1997

Second Quarter 65.7    38.6        66.3      75.6      80.3      79.1
First Quarter  65.4    38.6        65.5      75.5      79.6      79.2

1996

Fourth Quarter 65.4    39.1        65.5      75.6      80.1      79.2
Third Quarter  65.6    39.0        66.3      75.9      79.7      78.6
Second Quarter 65.4    39.3        65.5      75.5      80.0      78.9
First Quarter  65.1    38.8        64.6      75.5      80.2      79.1

1995

Fourth Quarter 65.1    39.1        65.5      75.2      79.5      78.7 
Third Quarter  65.0    39.1        65.4      75.4      79.3      78.1
Second Quarter 64.7    38.7        65.1      75.2      79.9      78.1
First Quarter  64.2    37.7        64.9      74.9      79.4      77.5

1994

Fourth Quarter 64.2    38.0        64.7      74.9      79.2      77.7
Third Quarter  64.1    37.5        64.3      75.5      79.4      77.2
Second Quarter 63.8    36.8        64.6      75.2      79.1      77.2
First 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 1997 remained highest for White non-Hispanic
householders at 72.1 percent.  The homeownership rate for Other Race householders was higher than in the
second quarter 1996, while rates for White, White non-Hispanic, Black, and Hispanic householders showed no
significant difference from a year ago.


Table 7.  Homeownership Rates by Race and Ethnicity of Householder:  1994 to 1997
               (in percent)


                              Homeownership Rates4

                                  Non-Hispanic

                                      White              Other
Year/Quarter     United      White,   non-      Black,   Race,  Hispanic5
                 States,      total   Hispanic   total    total    total    
                  total
1997

Second Quarter     65.7       69.4      72.1      44.4    52.7     43.3
First Quarter      65.4       69.0      71.6      44.5    51.8     42.6

1996

Fourth Quarter     65.4       69.1      71.8      44.4    51.4     42.3
Third Quarter      65.6       69.2      71.8      44.5    51.5     43.5
Second Quarter     65.4       69.2      71.7      43.7    50.0     43.9
First Quarter      65.1       68.7      71.4      43.8    50.9     41.4

1995

Fourth Quarter     65.1       68.8      71.2      44.3    48.4     41.1
Third Quarter      65.0       69.0      71.1      43.0    46.5     42.5
Second Quarter     64.7       68.7      70.9      42.2    46.7     42.8
First Quarter      64.2       68.2      70.4      41.2    47.2     41.8

1994

Fourth Quarter     64.2       68.0      70.2      42.6    47.6     42.2
Third Quarter      64.1       67.8      70.0      42.7    46.9     41.4
Second Quarter     63.8       67.6      69.9      41.8    46.3     41.1
First 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 and White non-Hispanic householders, 0.6 for Black householders, 1.0 percent for Other Race
householders, and 0.8 for Hispanic householders.
5Hispanics can be of any race.

    The homeownership rate for households with incomes less than the median family income in the second
quarter 1997 was 50.0 percent, compared with 80.8 percent for households with incomes greater than or equal
to the median family income.  These homeownership rates were each higher than the corresponding rates in
the second quarter 1996. 

Table 8.  Homeownership Rates by Family Income: 1994 to 1997 (in percent)

                            Homeownership Rates6

                United        Households with           Households with
                States,       family income greater     family income
                 total        or equal to median        less than median
                              family income7            family income7

Year/Quarter

1997

Second Quarter     65.7            80.8                       50.0
First Quarter      65.4            79.7                       49.9

1996

Fourth Quarter     65.4            80.1                       49.8
Third Quarter      65.6            80.5                       49.4
Second Quarter     65.4            80.3                       49.2
First Quarter      65.1            79.7                       49.4

1995

Fourth Quarter     65.1            79.8                       49.4
Third Quarter      65.0            79.6                       49.0
Second Quarter     64.7            79.5                       48.6
First Quarter      64.2            79.1                       48.1

1994

Fourth Quarter     64.2            78.8                        48.6
Third Quarter      64.1            78.3                        48.9
Second Quarter     63.8            78.4                        48.0
First Quarter      63.8            78.5                        48.1

6 Standard errors for quarterly homeownership rates by family income generally are 0.3 percent.
7Based on families or primary individuals reporting income.

Note: This press release along with more detailed data are available on the Internet.  Our Internet address
is: http://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 7.9 percent is 0.2
percentage points.  Consequently, the 90-percent confidence interval as shown by these data is from 7.6 to 8.2;
i.e., the interval 7.9 + (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.