U.S. Census Bureau News 

U.S. Department of Commerce • Washington D.C. 20233

 

Robert R. Callis For Release 10:00 am EDT, October 28, 2008 

Linda B. Cavanaugh CB08-155 

(301) 763-3199 

 

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND HOMEOWNERSHIP 

National vacancy rates in the third quarter 2008 were 9.9 (+ 0.4) percent for rental housing and 

2.8 (+ 0.1) percent for homeowner housing, the Department of Commerce’s Census Bureau announced today. 

The Census Bureau said the rental vacancy rate was not statistically different from the third quarter rate last 

year (9.8 percent), or the rate last quarter (10.0 percent). For homeowner vacancies, the current rate was not 

statistically different from the third quarter 2007 rate (2.7 percent) or the rate last quarter (2.8 percent). The 

homeownership rate at 67.9 (+ 0.5) percent for the current quarter was not statistically different from the third 

quarter 2007 rate (68.2 percent) or the rate last quarter (68.1 percent). 

Table 1. Rental and Homeowner Vacancy Rates for the United States: 1995 to 2008 (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 

↓ ↓

 2008.... 

 2007.... 

 2006.... 

 2005.... 

 2004.... 

 2003.... 

 2002a

 .. 

 2002.... 

2001.... 

2000..... 

1999..... 

1998..... 

1997..... 

1996..... 

1995..... 

 10.1 

 10.1 

 9.5 

 10.1 

 10.4 

 9.4 

 9.1 

 9.1 

 8.2 

 7.9 

 8.2 

 7.7 

 7.5 

 7.9 

 7.4 

 10.0 

 9.5 

 9.6 

 9.8 

 10.2 

9.6 

8.4 

8.5 

8.3 

8.0 

8.1 

8.0 

7.9 

7.8 

7.7 

 9.9 

 9.8 

 9.9 

 9.9 

 10.1 

9.9 

9.0 

9.1 

 8.4 

8.2 

8.2 

8.2 

7.9 

8.0 

7.7 

 

 9.6 

 9.8 

 9.6 

 10.0 

 10.2 

9.3 

9.4 

8.8 

7.8 

7.9 

7.8 

7.7 

7.7 

7.7 

2.9 

2.8 

2.1 

1.8 

1.7 

1.7 

1.7 

1.7 

1.5 

1.6 

1.8 

1.7 

1.7 

1.6 

1.5 

2.8 

2.6 

2.2 

1.8 

1.7 

1.7 

1.7 

1.7 

1.8 

1.5 

1.6 

1.7 

1.6 

1.5 

1.6 

 2.8 

 2.7 

 2.5 

 1.9 

 1.7 

 1.9 

1.7 

1.7 

1.9 

1.6 

1.6 

1.7 

1.5 

1.7 

1.5 

 

2.8 

2.7 

 2.0 

 1.8 

 1.8 

1.7 

1.7 

1.8 

1.6 

1.6 

1.8 

1.7 

1.7 

1.6 

 aRevised in 2002 to incorporate information collected in Census 2000. 

 NOTE: The estimates in this report are based on responses from a sample of the population and may differ from actual values because of 

 sampling variability or other factors. As a result, apparent differences between the estimates for two or more groups may not be 

statistically significant. All comparative statements have undergone statistical testing, and when significant, they are significant at the 90-percent 

confidence level unless otherwise noted. The data in this report are from the monthly samples of the Housing Vacancy Survey, which is a supplement 

to the Current Population Survey. The populations represented (the population universe) are all housing units (vacancy rates) and the civilian noninstitutional population of the United States (homeownership rate). For an explanation of how the rates are calculated, please see pages 

10-11. 
2

For rental housing by area, the third quarter 2008 vacancy rate in the suburbs (9.1 percent) was lower than 

the rate inside principal cities (10.4 percent), but not statistically different from the rate outside Metropolitan Statistical 

Areas (MSA’s), 10.4 percent. The rates for inside principal cities and outside MSA’s were not statistically different from 

each other. When compared to a year ago, the rental vacancy rates by area were not statistically different from their 

corresponding rates. 

 The homeowner vacancy rate in principal cities (3.5 percent) was higher than in the suburbs (2.6 percent) and 

outside MSA’s (2.4 percent), although the rates in the suburbs and outside MSA’s were not statistically different from 

each other. The homeowner vacancy rates by area were not statistically different from their corresponding rates last year. 

 Among regions, the rental vacancy rate for the current quarter was highest in the South (13.0 percent). The 

Midwest (10.3 percent) was second. The rates were lowest in the Northeast (6.7 percent) and the West (7.6 percent), 

although the 6.7 percent and 7.6 percent were not statistically different from each other. The rental vacancy rate in the 

Midwest was lower than third quarter 2007, while the rates in other regions were not statistically different from their respective 

rates a year ago. 

Regional homeowner vacancy rates for third quarter 2008 were lowest in the Northeast (2.1 percent). The rates in 

the Midwest (2.9 percent), the South (3.1 percent), and the West (2.8 percent) were not statistically different from each 

other. In the Midwest, the homeowner vacancy rate was higher than a year ago, while the rates in the Northeast, the 

South, and the West were not significantly different from their respective rates last year. 

Table 2. Rental and Homeowner Vacancy Rates by Area and Region: Third Quarter 2007 and 2008 

 (in percent) 

Rental vacancy rates Homeowner vacancy rates 

90-Percent 

Confidence Interval ( + ) a

90-Percent 

Confidence Interval ( + ) a

Area/Region 

Third 

Quarter 

2007 

Third 

Quarter 

2008

of 

2008 rate 

of 

difference 

Third 

Quarter 

2007 

Third 

Quarter 

2008 

of 

2008 rate 

of 

difference 

United States............. 

Inside Metropolitan 

Statistical Areas........ 

 In principal cities...... 

 Not in principal 

 cities (suburbs)........ 

Outside Metropolitan 

Statistical Areas....... 

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

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

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

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

 9.8 

 9.8 

 10.2 

 

 9.3 

 9.4 

 7.1 

 11.6 

 12.1 

 6.8 

9.9 

 9.8 

 10.4 

9.1 

 

 10.4 

 6.7 

 10.3 

 13.0 

 7.6 

0.4 

0.5 

0.6 

0.7 

 1.5 

0.7 

0.8 

0.9 

0.8 

0.5 

0.5 

0.6 

0.7 

 1.5 

0.8 

1.0 

1.0 

0.9 

2.7 

2.7 

3.2 

2.4 

 2.6 

2.0 

2.6 

3.1 

2.5 

2.8 

2.9 

3.5 

 2.6 

 2.4 

2.1 

2.9 

3.1 

2.8 

0.1 

0.2 

0.4 

0.2 

 0.3 

0.3 

0.3 

0.2 

0.3 

0.2 

0.2 

0.4 

0.2 

 0.4 

0.4 

0.3 

0.3 

0.4 

a

A 90-percent confidence interval is a measure of an estimate’s reliability. The larger the confidence interval is, in relation to the size of the estimate, the less reliable 

the estimate. For more information, see page 10. 

NOTE: Metropolitan Statistical Area data for 2005 and later are not comparable to earlier data. Beginning in first quarter 2005, the Current Population Survey/Housing 

Vacancy Survey is using the new metropolitan and micropolitan statistical definitions that were announced by the Office of Management and Budget (OMB) in June 

2003, and were based on the application of the 2000 standards to Census 2000 data. The OMB announced updates as of December 2003, based on application of the 

2000 standards to more recent Census Bureau estimates. In this report, outside Metropolitan Statistical Areas includes micropolitan and non-metropolitan statistical 

areas. The December 2003 definitions are available at: http://www.census.gov/population/www/estimates/metrodef.html and 

http://www.census.gov/population/www/estimates/aboutmetro.html. 
3

 There were an estimated 130.4 million housing units in the United States in the third quarter 2008. 

Approximately 111.7 million housing units were occupied: 75.9 million by owners and 35.8 million by 

renters. Both the number of owner-occupied housing units and the number of renter-occupied housing units 

were higher than their respective estimates a year ago. Of the 2.2 million increase in total housing units, 1.4 

million were occupied and 737 thousand were vacant units. Of the 737 thousand additional vacant units from 

last year, there were 41 percent that were for rent or for sale. The number of total vacant housing units, 18.6 

million, was higher than the estimated number in third quarter 2007. Of these vacant housing units, 13.8 

million were for year-round use and 4.8 million were for seasonal use. Approximately 4.0 million of the yearround vacant units were for rent, 2.2 million were for sale only, and the remaining 7.6 million units were vacant 

for a variety of other reasons. 

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

 Third Quarter 2007 and 2008 

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

90-Percent 

Confidence Interval ( + ) a 

 

Type 

Third 

Quarter 

2007 

Third 

Quarter 

2008

of 2008 

estimate 

of

difference 

Percent of 

total 

(2008) 

 

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

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

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

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

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

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

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

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

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

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

128,189 

110,299 

75,181 

35,118 

17,890 

13,334 

3,866 

2,074 

 7,394 

4,558 

130,357

111,730

75,896

35,834

18,627

13,841

4,012

2,227

7,602

4,785

(X)

291

627

545

377

367

178

113

277

250

(X) 

 

267 

429 

420 

332 

315 

197 

140 

243 

 217 

100

86

58

27

14

11

3

2

6

4

 aA 90-percent confidence interval is a measure of an estimate’s reliability. The larger the confidence interval is, in relation to the 

 size of the estimate, the less reliable the estimate. For more information, see page 10. 

 (X) Not Applicable. Since the number of housing units is set equal to an independent national measure, there is no sampling

 error, and hence no confidence interval. 

 NOTE: Since first quarter 2003, the Current Population Survey/Housing Vacancy Survey (CPS/HVS) estimates have been controlled to 

 independent housing unit counts. Doing so should make the CPS/HVS estimates of housing units more comparable to other 

 Census Bureau housing surveys. Please see page 10 for additional information. 
4

 The homeownership rate (67.9 percent) for the current quarter was not statistically different 

from the third quarter 2007 rate (68.2 percent) or the rate last quarter (68.1 percent). 

Table 4. Homeownership Rates for the United States: 1981 to 2008 (in percent) 

Year Homeownership Ratesa

First 

Quarter 

Second 

Quarter 

Third 

Quarter 

Fourth 

Quarter 

 ↓

2008................................. 

2007................................ 

2006................................ 

2005................................ 

2004................................ 

2003................................ 

2002b

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

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

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

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

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

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

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

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

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

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

1993b

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

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

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

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

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

1989c......................................... 

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

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

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

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

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

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

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

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

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

67.8 

68.4 

68.5 

69.1 

68.6 

68.0 

67.8 

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 

 68.1 

 68.2 

 68.7 

 68.6 

 69.2 

68.0 

67.6 

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 

67.9 

68.2 

69.0 

68.8 

69.0 

68.4 

68.0 

68.0 

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 

67.8 

68.9 

69.0 

69.2 

68.6 

68.3 

68.3 

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 a

Standard errors for quarterly homeownership rates for the United States generally are 0.3 percent. bRevised in 2002 to incorporate information collected in Census 2000, and in 1993 to reflect the results of the 1990 decennial census. 

 c

Revised to reflect edit changes implemented in 1990. 
5

Table 4SA shows the seasonally adjusted homeownership rates for the United States from 

1981 to the present. (Research has shown that seasonality for homeownership rates is present.) When 

adjusted for seasonal variation, the current homeownership rate (67.8 percent) was not significantly 

different from the rate last quarter or the rate a year ago (68.1 percent each). 

Table 4SA. Homeownership Rates for the United States: 1981 to 2008

 Seasonally Adjusted (in percent) 

 Year Homeownership Ratesa

 (Seasonally Adjusted) 

First 

Quarter 

Second 

Quarter 

Third 

Quarter 

Fourth 

Quarter 

 ↓

2008................................. 

2007................................. 

2006................................. 

2005................................. 

2004................................. 

2003................................. 

2002b

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

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

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

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

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

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

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

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

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

1993b.........................................

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

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

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

1989c

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

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

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

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

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

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

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

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

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

 68.0 

 68.6 

 68.6d 

 69.2

68.7 

68.1

67.9 

 67.6 

 67.2 

66.8 

66.0

65.5 

65.2 

64.4 

64.0 

63.8 

64.1 

64.0 

64.1 

64.0

63.8 

63.9 

63.7 

64.1 

64.6 

64.7 

64.8 

65.6 

 68.1 

 68.2d

 68.8

 68.7 

 

 69.3

68.1 

 67.7

67.8 

67.3 

66.7 

66.1 

65.8 

65.4 

64.8 

63.9 

64.0

 64.0 

64.1 

63.9 

63.9

63.8 

63.9 

63.8 

64.1 

64.6 

64.7 

64.9 

65.4 

67.8 

68.1 

68.9 

68.7 

68.9 

68.3 

67.9 

67.9 

67.5 

66.8 

66.6 

65.8 

65.4 

64.8 

63.9 

64.0

 64.1 

64.0 

63.8 

63.9

63.9 

64.1 

63.7 

63.8 

64.5 

64.6 

64.7 

65.4 

67.7 

68.8 

68.9 

69.0 

 68.5d

68.2 

67.9 

67.5 

66.9 

66.4

65.7 

65.4 

65.1 

 

64.1 

64.1

 64.3 

 64.1 

64.0 

63.7 

63.8 

64.1 

63.9 

63.6 

64.2 

64.5 

64.6 

65.3 aStandard errors for quarterly homeownership rates for the United States generally are 0.3 percent. 

 bRevised in 2002 to incorporate information collected in Census 2000, and in 1993 to reflect the results of the 1990 decennial census. 

 c

Revised to reflect edit changes implemented in 1990. 

 d

Revised as a result of seasonality computation for this quarter. 
6

The homeownership rate by region was highest in the Midwest (71.9 percent) during the third 

quarter 2008. The South (69.9 percent) was next, while the Northeast (64.4 percent) and the West 

(63.5 percent) were not statistically different from each other. When compared to third quarter 2007, the 

homeownership rate for the Northeast was lower than a year ago, while the rates for the Midwest, the South, 

and the West were not statistically different from their corresponding rates last year. 

 Table 5. Homeownership Rates for the United States and Regions: 2003 to 2008 (in percent) 

Homeownership Ratesa

 Year/Quarter 

United 

States Northeast Midwest South West 

2008 

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

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

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

2007 

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

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

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

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

2006 

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

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

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

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

2005 

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

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

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

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

2004 

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

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

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

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

2003 

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

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

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

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

67.9 

68.1 

67.8 

67.8 

68.2 

68.2 

68.4 

68.9 

69.0 

68.7 

68.5 

69.0 

68.8 

68.6 

69.1 

69.2 

69.0 

69.2 

68.6 

68.6 

68.4 

68.0 

68.0 

64.4 

65.3 

64.7 

64.6 

65.2 

65.4 

64.8 

65.3 

65.5 

65.4 

64.7 

65.4 

65.1 

64.7 

65.4 

65.2 

64.4 

65.4 

65.1 

64.7 

64.4 

64.2 

64.2 

71.9 

71.7 

72.0 

71.7 

71.9 

71.8 

72.2 

73.0 

72.8 

72.5 

72.5 

72.8 

73.3 

73.4 

73.1 

73.7 

73.8 

74.2 

73.5 

73.5 

73.5 

72.8 

72.9 

69.9 

70.2 

69.7 

70.0 

70.1 

69.9 

70.6 

70.8 

70.6 

70.4 

70.4 

71.1 

70.6 

70.4 

71.1 

71.5 

71.0 

70.9 

70.3 

70.5 

70.0 

69.9 

69.9 

63.5 

63.0 

62.8 

62.7 

63.5 

64.1 

63.6 

64.5 

65.3 

64.7 

64.4 

64.6 

64.2 

63.8 

64.9 

63.9 

64.7 

64.5 

63.7 

63.8 

63.8 

63.2 

62.8 

 a

Standard errors for quarterly homeownership rates by region generally are 0.6 percent. 

 

 
7

 The homeownership rates by age of householder for third quarter 2008 were highest for those age 

 65 years and over (80.1 percent) and those age 55 to 64 (80.0 percent), although the rates were not different 

from each other. Second highest were those in the age category 45 to 54 years (75.2 percent). Homeowners age 35 

to 44 years (67.2 percent) were third, while the lowest rate was for the under 35 years of age (41.0 percent) group. 

The rates for the age groups under 35 years, 35 to 44, and 55 to 64, were lower than their corresponding rates last 

year, while the other age groups were not statistically different from their respective rates a year ago. 

Table 6. Homeownership Rates by Age of Householder: 2003 to 2008 (in percent) 

 Year/Quarter Homeownership Ratesa

United 

States 

Under 

35 years 

35 to 44 

years 

45 to 54 

years 

55 to 64 

years 

65 years 

and over 

2008 

Third Quarter...... 

Second Quarter.... 

First Quarter........ 

2007 

Fourth Quarter..... 

Third Quarter...... 

Second Quarter.... 

First Quarter....... 

2006 

Fourth Quarter..... 

Third Quarter...... 

Second Quarter.... 

First Quarter....... 

2005 

Fourth Quarter..... 

Third Quarter...... 

Second Quarter.... 

First Quarter....... 

2004 

Fourth Quarter..... 

Third Quarter...... 

Second Quarter.... 

First Quarter........ 

2003 

Fourth Quarter..... 

Third Quarter...... 

Second Quarter.... 

First Quarter........ 

67.9 

68.1 

67.8 

67.8 

68.2 

68.2 

68.4 

68.9 

69.0 

68.7 

68.5 

69.0 

68.8 

68.6 

69.1 

69.2 

69.0 

69.2 

68.6 

68.6 

68.4 

68.0 

68.0 

 

41.0 

41.2 

41.3 

41.0 

42.0 

41.9 

41.7 

42.8 

43.0 

42.4 

42.3 

43.1 

43.0 

42.8 

43.3 

43.3 

43.1 

43.6 

42.3 

42.7 

42.5 

41.9 

41.7 

 

67.2 

67.6 

66.7 

67.2 

68.1 

67.6 

68.3 

68.9 

68.8 

68.9 

68.9 

69.7 

68.6 

68.7 

70.1 

70.0 

68.6 

69.4 

68.8 

69.0 

68.8 

67.8 

67.8 

75.2 

75.4 

75.0 

 75.1 

75.2 

75.5 

75.8 

76.4 

76.4 

76.3 

75.8 

76.7 

76.7 

76.3 

76.5 

77.4 

77.4 

77.0 

77.0 

77.2 

76.5 

76.3 

76.5 

 

80.0 

80.1 

80.4 

80.4 

81.1 

80.6 

80.4 

80.7 

80.7 

81.0 

81.2 

80.6 

80.9 

81.3 

81.8 

81.6 

81.2 

82.4 

81.7 

81.3 

81.1 

81.6 

81.4 

80.1 

80.2 

79.9 

80.3 

79.9 

80.5 

80.9 

81.2 

81.5 

80.6 

80.3 

80.6 

80.6 

80.3 

80.8 

80.5 

81.8 

81.1 

80.7 

80.8 

80.7 

80.2 

80.2 

 a

Standard errors for quarterly homeownership rates by age of householder generally are 0.5 percent. 

 
8

For the racial categories shown below, the homeownership rate for non-Hispanic White householders 

reporting a single race was highest at 75.1 percent. The rate for All Other Races householders was second 

at 59.0 percent, and single-race Black householders was lowest with a rate of 47.8 percent. When compared to 

their respective rates a year ago, the homeownership rate for single-race Black householders was higher, while the 

rate for non-Hispanic White householders and All Other Races householders were not statistically different. The 

rate for Hispanic householders (who can be of any race) at 49.5 percent was not statistically different from a year 

ago. 

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 2005 to 2008 (in percent) 

Year/Quarter Homeownership Ratesa

U.S. NonHispanic 

White alone

Black 

 Aloneb 

All 

Other 

Racesc

Hispanic 

(of any race)

2008 

Third Quarter...... 

Second Quarter.... 

First Quarter....... 

2007 

Fourth Quarter..... 

Third Quarter...... 

Second Quarter..... 

First Quarter........ 

2006 

Fourth Quarter...... 

Third Quarter....... 

Second Quarter..... 

First Quarter........ 

2005 

Fourth Quarter...... 

Third Quarter........ 

Second Quarter...... 

First Quarter......... 

67.9 

68.1 

 67.8 

67.8 

68.2 

68.2 

68.4 

68.9 

69.0 

68.7 

68.5 

69.0 

68.8 

68.6 

69.1 

75.1 

75.2 

75.0 

74.9 

75.3 

75.4 

75.3 

76.0 

76.0 

75.9 

75.5 

76.0 

75.7 

75.6 

76.0 

 

 47.8 

 47.8 

 47.1 

 47.7 

 46.7 

 46.3 

48.0

48.2 

48.6 

47.2

47.3 

48.0 

48.1 

48.0

 48.8

 

59.0 

58.4 

58.1 

58.6 

60.1 

59.4 

58.6 

60.0 

60.6 

59.3 

59.6 

60.1 

59.9 

58.0 

59.4 

49.5 

49.6 

48.9 

48.5 

50.1 

50.0 

50.1 

49.5 

49.7 

50.0 

49.4 

50.0 

49.1 

49.2 

49.7 

 aStandard errors for quarterly homeownership rates by race and ethnicity of householder generally are 0.3 percent for non-Hispanic White 

(single race) householders, 0.6 percent for Black (single race) householders, 0.7 percent for All Other Races householders, and 0.6 percent for 

Hispanic householders. 

 bThe homeownership rate for third quarter 2008 for householders who reported Black whether or not they reported any other race was also 

 47.8 percent. 

 c Includes people who reported Asian, Native Hawaiian or Other Pacific Islander, or American Indian or Alaska Native regardless of whether 

 they reported any other race, as well as all other combinations of two or more races. 

 

NOTE: Beginning in 2003, the question on race on the CPS was modified to comply with the revised standards for federal statistical agencies. 

 Respondents may now report more than one race, but small sample sizes preclude showing all race categories. The question on Hispanic 

 origin is asked separately, and is asked before the question on race. For further information on each major race group and the Two 

 or More Races populations, see reports from the Census 2000 Brief series (C2KBR/01), available on the Census 2000 Web site at 

 http://www.census.gov/population/www/cen2000/briefs.html.

 
9

In third quarter 2008 the homeownership rate for households with family incomes greater than or 

equal to the median family income (83.0 percent) was lower than third quarter 2007, while the rate for those with 

family incomes less than the median family income (52.0 percent) was not statistically different from a year ago. 

 

Table 8. Homeownership Rates by Family Income: 2003 to 2008 (in percent) 

Homeownership Ratesa

 Year/Quarter United States 

Households with family 

income greater than or 

equal to the median 

family incomeb

Households with family 

income less than the 

median family income 

2008 

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

Second Quarter......... 

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

2007 

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

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

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

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

2006 

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

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

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

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

2005 

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

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

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

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

2004 

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

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

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

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

2003 

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

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

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

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

67.9 

68.1 

67.8 

67.8 

68.2 

68.2 

68.4 

68.9 

69.0 

68.7 

68.5 

69.0 

68.8 

68.6 

69.1 

69.2 

69.0 

69.2 

68.6 

68.6 

68.4 

 68.0 

68.0 

 

83.0 

83.5 

82.8 

83.0 

83.7 

83.4 

83.3 

84.5 

84.4 

84.1 

83.7 

84.3 

83.7 

84.0 

84.5 

84.6 

84.0 

83.9 

83.8 

83.6 

83.7 

83.6 

83.3 

 

52.0 

51.8 

51.2 

50.9 

51.9 

52.0 

52.1 

52.9 

53.0 

52.6 

52.4 

53.1 

52.8 

52.7 

53.0 

52.5 

52.7 

53.1 

51.5 

52.1 

52.1 

51.6 

51.3 

 aStandard errors for quarterly homeownership rates by family income generally are 0.3 percent. bBased on families or primary individuals reporting income. 

 
10

Note: This press release, along with more detailed data, is available on the Internet. Our Internet address 

is: http://www.census.gov/hhes/www/housing/hvs/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 sample estimate and its standard error enable one to construct a confidence interval. A confidence 

interval is a measure of an estimate’s reliability. The larger a confidence interval is in relation to the size of 

the estimate, the less reliable the estimate. For example, the standard error on the estimated rental vacancy 

rate of 9.9 percent is 0.257 percentage points. Then the 90-percent confidence interval is calculated as 

9.9+ (1.645 x 0.257) percent, or 9.9 + 0.4228 percent, or from 9.5 percent to 10.3 percent. If all possible 

samples were surveyed under essentially the same general conditions and the same sample design, and an 

estimate calculated from each sample, then 90 percent of the estimates would fall within the 90 percent 

confidence interval, in this case, from 9.5 percent to 10.3 percent. 

 Beginning with first quarter 2003, population controls that reflect the results of Census 2000 are 

used in the CPS/HVS estimation process. As a final additional step in the process, the estimates are 

controlled to independent housing counts used for the first time in order to produce a more accurate estimate of 

housing units. This new procedure should make the CPS/HVS estimates of housing units more consistent with 

other Census Bureau housing surveys. The new housing controls affect the estimate of vacant units in the 

sense that the estimates of total occupied and vacant units sum to the new control total. Vacancy rates and 

homeownership rates are not affected by this change. For the most current historical time series on total housing 

units, please see Population Division’s website: http://www.census.gov/popest/housing/index.html. 

The CPS/HVS also began computing first-stage factors (used for weighting purposes) based on 

year-round and seasonal counts of housing units from Census 2000 for the first quarter 2003. From 1980 to 

2002, the CPS/HVS first-stage factors were based on year-round estimates only. The effect on the data is 

slight and the change should improve the counts of year-round and seasonal units. For more information on the 

effects of these changes, please see Source and Accuracy Statement at www.census.gov/hhes/www/hvs.html. 

The question on race on the CPS was modified beginning in the first quarter 2003 to comply with 

new standards for federal statistical agencies. Respondents are now asked to report one or more 

races. The question on Hispanic origin is asked separately, and is asked before the question on race. 

First stage factors for year-round vacant units have been corrected as of the second quarter 2004. 

Research has shown that this correction had no significant effect on the vacancy rates or homeownership rates. 

 The rental vacancy rate is the proportion of the rental inventory that is vacant for rent. In tables 1 and 2, 

 the rates are computed using the following formula. 

 

 ( ) % 100*

⎥

⎥

⎥

⎥

⎥

⎥

⎥

⎥

⎦

⎤

⎢

⎢

⎢

⎢

⎢

⎢

⎢

⎢

⎣

⎡

⎟

⎟

⎠

⎞

⎜

⎜

⎝

⎛ − +

⎟

⎟

⎟

⎠

⎞

⎜

⎜

⎜

⎝

⎛ −

+

⎟

⎟

⎟

⎠

⎞

⎜

⎜

⎜

⎝

⎛

−

=

rentforunits

yearVacant round

awaiting occupancy

units butrented

Vacant year round

units

occupied

Renter

rentforunits

Vacant year round

Rental Vacancy Rate

 
The homeowner vacancy rate is the proportion of the homeowner inventory that is vacant for sale. In 

tables 1 and 2 the rates are computed using the following formula. 

( ) % 100*

⎥

⎥

⎥

⎥

⎥

⎥

⎥

⎥

⎦

⎤

⎢

⎢

⎢

⎢

⎢

⎢

⎢

⎢

⎣

⎡

⎟

⎟

⎠

⎞

⎜

⎜

⎝

⎛

⎟

⎟

⎟

⎠

⎞

⎜

⎜

⎜

⎝

⎛

⎟

⎟

⎟

⎠

⎞

⎜

⎜

⎜

⎝

⎛ − +

−

+

−

=

onlysaleforunits

Vacant year round

awaiting occupancy

butsoldunits

Vacant year round

units

occupied

Owner

onlysaleforunits

Vacant year round

Homeowner Vacancy Rate

The homeownership rate is the proportion of households that is owner-occupied. It is computed by 

dividing the number of households that are occupied by owners by the total number of occupied households 

(tables 4, 4SA, and 5). 

( ) % ⎥ 100*

⎦

⎤ ⎢

⎣

⎡ = Total occupied housing units

Owner occupied housing units Homeowners Ratehip

For the homeownership rate for a specific characteristic (tables 6-8), use the owner and total number 

of units for that characteristic. For example, for the West region, 

( ) 100*

)(

)( %)( ⎥

⎦

⎤ ⎢

⎣

⎡ = Total occupied housing Westunits

Owner occupied housing Westunits Homeowners WestRatehip

 

 

 

 

 

 

11