UNITED STATES DEPARTMENT OF

COMMERCE

NEWS

WASHINGTON, D.C. 20230

Robert R. Callis For Release 10:00 AM EDT, July 26, 2002

Linda B. Cavanaugh CB02-93

(301)763-3199

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND

HOMEOWNERSHIP

National vacancy rates in the second quarter 2002 were 8.5 percent in rental housing and 1.7 percent in

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

neither the rental vacancy rate nor the homeowner vacancy rate changed significantly from the corresponding rates last

year. While the rental vacancy rate decreased since last quarter, the homeowner vacancy rate did not change

significantly during the same time period.

Table 1. Rental and Homeowner Vacancy Rates for the United States: 1984 to 2002 (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

↓ ↓

2002....

2001....

2000.....

1999.....

1998.....

1997.....

1996.....

1995.....

1994.....

1993r....

 1993.....

1992.....

1991.....

1990.....

1989r....

1989.....

1988.....

1987.....

1986.....

1985.....

1984.....

 9.1

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

8.5

 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

 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

8.8

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

 1.7

 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

 1.7

 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

 1.9

 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

 1.8

 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

rRevised.

 BUREAU OF

 THE

 CENSUS
For rental housing, the vacancy rate was highest outside metropolitan areas (MAs), 10.2 percent, and lowest in the

suburbs, 7.7 percent. The rental vacancy rates in all areas were not significantly different from the respective rates last

year.

The homeowner vacancy rate was lowest in the suburbs, 1.3 percent. Only the homeowner vacancy rate

outside MAs, 2.1 percent, was lower than last year, while rates in other areas did not change significantly.

Among regions, the rental vacancy rate was highest in the South, 10.7 percent, and lowest in the Northeast,

5.6 percent. The rental vacancy rate in the West, 6.7 percent, was higher than the corresponding rate last year, while

rates in other regions were not significantly different.

The homeowner vacancy rates by region were highest in the Midwest, 1.8 percent, and South, 1.9 percent,

though not significantly different from each other. None of the regions showed a significant change from rates one year

ago.

Table 2. Rental and Homeowner Vacancy Rates by Area and Region:

 Second Quarter 2002 and 2001 (in percent)

Rental vacancy rates Homeowner vacancy rates

Area /Region Second

Quarter

2002

Second

Quarter

2001

Standard

error on

2002

rate

Standard

error on

difference

Second

Quarter

2002

Second

Quarter

2001

Standard

error on

2002

rate

Standard

error on

difference

United States.......

 InsideMAs.........

 In central cities

 Not in central

 cities (suburbs)

 Outside MAs.....

 Northeast...........

 Midwest.............

 South.................

 West..................

8.5

8.2

8.6

7.7

10.2

5.6

 9.7

 10.7

6.7

8.3

7.9

8.4

7.4

10.5

5.3

10.3

 10.8

5.7

0.2

0.2

0.2

0.3

0.5

0.3

0.4

0.3

0.3

0.3

0.3

0.4

0.4

0.7

0.5

0.6

0.5

0.4

1.7

1.6

2.3

1.3

2.1

1.4

1.8

1.9

1.4

1.8

1.6

2.2

1.3

2.5

1.2

1.9

2.0

1.6

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

0.1

0.2
3

There were an estimated 123.0 million housing units in the United States in the second quarter 2002.

Approximately 108.4 million housing units were occupied; 73.3 million by owners and 35.1 million by renters. Both

the number of owner-occupied units and the number of renter-occupied units increased since

last year. Of the 14.6 million vacant housing units, 11.1 million were for year-round use. Approximately

3.3 million of the year-round vacant units were for rent, 1.3 million were for sale only, and the remaining

6.5 million units were vacant for a variety of reasons.

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

 Second Quarter 2002 and 2001

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

 Type

Second

 Quarter

2002

Second

 Quarter

2001

Standard

error on

2002

Estimate

Standard

error on

difference

Percent of

total

(2002)

All housing units............

 Occupied......................

 Owner........................

 Renter........................

 Vacant..........................

 Year-round.................

 For rent...................

 For sale only............

 Other.......................

 Seasonal.....................

122,955

108,380

73,251

35,129

14,575

11,092

3,297

1,277

6,518

 3,483

121,615

106,765

72,252

34,513

14,850

11,084

3,175

 1,300

6,609

3,766

214

226

228

185

127

112

63

39

87

64

315

332

334

270

187

164

91

58

128

96

100

88

60

29

12

9

3

1

5

3
4

The second quarter 2002 homeownership rate, 67.6 percent, was not significantly different from

the rate of 67.7 percent last year or from 67.8 percent last quarter.

Table 4. Homeownership Rates for the United States: 1980 to 2002

 (in percent)

 Year

Homeownership Rates1

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

 ↓

2002................................

2001................................

2000..........................................

1999..........................................

1998..........................................

1997..........................................

1996..........................................

1995..........................................

1994..........................................

1993r.........................................

1993..........................................

1992..........................................

1991..........................................

1990..........................................

1989r.........................................

1989.........................................

1988.........................................

1987.........................................

1986.........................................

1985.........................................

1984.........................................

1983.........................................

1982.........................................

1981.........................................

1980.........................................

67.8

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

 67.6

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

68.0

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.

rRevised.
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.) The seasonally adjusted homeownership rate,

67.7 percent, for the second quarter 2002, was not significantly different from the corresponding rates for last quarter or

last year.

Table 4SA. Homeownership Rates for the United States: 1980 to 2002

 Seasonally Adjusted (in percent)

 Year

Homeownership Rates2 (Seasonally Adjusted)

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

2002................................

2001................................

2000..........................................

1999..........................................

1998..........................................

1997..........................................

1996..........................................

1995..........................................

1994..........................................

1993r.........................................

1993..........................................

1992..........................................

1991..........................................

1990..........................................

1989r.........................................

1989.........................................

1988.........................................

1987.........................................

1986.........................................

1985.........................................

1984.........................................

1983.........................................

1982.........................................

1981.........................................

1980.........................................

67.9

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

 67.7

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

68.0

67.5

66.9

r

66.4

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.

rRevised
6

 During the second quarter 2002, the homeownership rate was highest in the Midwest, 72.8 percent, and lowest in

the West, 62.4 percent. None of the homeownership rates by region changed significantly from the respective rate last

year.

Table 5. Homeownership Rates for the United States and Regions:

 1998 to 2002 (in percent)

Homeownership Rates3

 Year/Quarter

United States Northeast Midwest South West

2002

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

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

2001

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

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

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

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

2000

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

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

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

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

1999

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

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

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

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

67.6

67.8

68.0

68.1

67.7

67.5

67.5

67.7

67.2

67.1

66.9

67.0

66.6

66.7

63.9

63.9

64.0

64.1

63.2

63.6

63.2

63.9

63.4

63.3

63.2

63.6

62.8

62.7

72.8

73.1

73.5

72.9

72.7

73.2

73.1

72.9

72.2

72.2

72.5

72.1

71.2

71.2

69.3

69.9

70.1

70.1

69.7

69.3

69.8

69.7

69.2

69.5

69.1

69.3

68.9

69.2

62.4

62.2

62.3

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

66.4

66.8

66.0

65.9

62.0

63.4

62.7

62.4

71.5

71.7

70.3

70.6

69.0

68.8

68.4

68.2

60.4

61.1

60.3

60.1

 3Standard errors for quarterly homeownership rates by region generally are 0.3 percent.
7

The homeownership rates by age of householder ranged from 80.7 percent for the 55 to 64 years age group

to 40.8 percent for the under 35 years age group for the second quarter 2002. The homeownership rate for the group

aged 45 to 54 years, 76.3 percent, decreased from 77.2 percent a year ago. None of the other homeownership rates by

age of householder changed significantly from the corresponding rate last year.

Table 6. Homeownership Rates by Age of Householder: 1998 to 2002 (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

2002

Second Quarter....

First Quarter.......

2001

Fourth Quarter.....

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.........

 67.6

 67.8

 68.0

 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

 40.8

 41.0

 42.2

 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

 68.3

 68.6

 68.2

 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

 76.3

 76.0

 76.2

 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

 80.7

 80.8

 81.4

 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

 80.1

 80.9

 80.7

 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

4

Standard errors for quarterly homeownership rates by age of householder generally are 0.4 percent.
8

The rates for racial and ethnic homeownership for second quarter 2002 ranged from 74.2 percent for White nonHispanic householders to 46.3 percent for Black householders. The rate for Black householders, 46.3 percent, decreased

from 47.9 percent in second quarter 2001. The rates for other racial categories and Hispanics remained statistically

unchanged from their respective rates a year ago.

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1998 to 2002 (in percent)

 Year/Quarter

Homeownership Rates5

U.S. Total White,

 total

 White,

 NonHispanic

 Black,

 total

 Other

Race, total

Hispanic6,

 total

2002

Second Quarter.....

First Quarter.........

2001

Fourth Quarter......

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..........

 67.6

 67.8

 68.0

 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

 71.4

 71.6

71.8

 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

 74.2

 74.3

74.4

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

 46.3

 48.0

48.1

 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

55.4

 53.7

53.2

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

 47.2

 47.6

48.8

 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

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 rates by family income did not change significantly from their respective rates last year.

Table 8. Homeownership Rates by Family Income: 1998 to 2002 (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

2002

Second Quarter.........

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

2001

Fourth Quarter.........

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

 67.6

 67.8

 68.0

 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

 82.3

 82.1

82.2

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

51.5

52.3

53.0

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

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 nonsampling 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 8.5 percent is 0.2 percentage points.

Consequently, the 90-percent confidence interval as shown by these data is from 8.2 percent to 8.8 percent; i.e., the

interval 8.5 + (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.