U.S. Census Bureau News

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

For Immediate Release

Tuesday, October 30, 2012 at 10:00 A.M. EDT

 CB12-194

Robert R. Callis

Melissa Kresin 

Social, Economic, and Housing Statistics Division 

(301) 763-3199

 

 RESIDENTIAL VACANCIES AND HOMEOWNERSHIP IN THE THIRD QUARTER 2012

National vacancy rates in the third quarter 2012 were 8.6 percent for rental housing and 1.9 percent for homeowner housing, the 

Department of Commerce’s Census Bureau announced today. The rental vacancy rate of 8.6 percent was 1.2 percentage points lower 

than the rate recorded in the third quarter 2011 (+/-0.4 percentage points) and approximately the same as the rate last quarter (+/-0.4)*. 

The homeowner vacancy rate of 1.9 percent was 0.5 percentage points lower than the third quarter 2011 rate (+/-0.2) and 0.2 percentage 

points lower (+/-0.1) than the rate last quarter (2.1 percent). 

The homeownership rate of 65.5 percent was 0.8 percentage points (+/-0.4) lower than the third quarter 2011 rate (66.3 percent) and

approximately the same as the rate last quarter (+/-0.4)*. 

New Residential Vacancies and Homeownership data for the fourth quarter 2012 will be released on Tuesday, January 29, 2013 at 10:00 A.M. EDT. 

Our Internet site is: http://www.census.gov/housing/hvs

Table 1. Rental and Homeowner Vacancy Rates for the United States: 2005 to 2012 (in percent)

Rental Vacancy Rate

l 

Homeowner Vacancy Rate

Year

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

 ↓ ↓

 2012... 8.8 8.6 8.6 2.2 2.1 1.9

 2011.... 9.7 9.2 9.8 9.4 2.6 2.5 2.4 2.3

 2010.... 10.6 10.6 10.3 9.4 2.6 2.5 2.5 2.7

 2009.... 

 2008....

 2007....

 2006.... 

 2005....

 

10.1

10.1

10.1

 9.5

10.1

 10.6

 10.0

 9.5 

 9.6

 9.8

 11.1

 9.9

 9.8

 9.9

 9.9

 

10.7 

10.1

9.6 

9.8

 9.6

 

2.7

2.9

2.8

2.1

1.8

2.5

2.8

2.6

2.2

1.8

2.6

2.8 

2.7

2.5

1.9

2.7 

2.9

2.8

2.7

2.0

Explanatory Notes

These statistics are estimated from sample surveys. They are subject to sampling variability as well as nonsampling error including bias and variance from response, 

nonreporting, and undercoverage. Whenever a statement such as “0.6 percentage points (±0.5%) above” appears in the text, this indicates the range (0.1 to 1.1 percentage 

points) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for 

sampling variability. If a range does not contain zero, the change is statistically significant. If the range does contain zero, the change is not statistically significant; that is, 

it is uncertain whether there was an increase or decrease. The data in this report are from the Current Population Survey/ Housing Vacancy Survey. The populations 

represented (the population universe) are all housing units (vacancy rates) and the civilian non-institutional population of the United States (homeownership rate). For an 

explanation of how the rates are calculated, please see pages 11-12. Explanations of confidence intervals and sampling variability can be found on our web site listed above.

*90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero. 
2

In the third quarter 2012, the median asking rent for vacant for rent units was $706. 

In the third quarter 2012, the median asking sales price for vacant for sale units was $137,000. 

NOTE: Median asking sales price and median asking rent data for vacant units can be found in Historical Table 11A/B at 

http://www.census.gov/housing/hvs/data/histtabs.html

*The historical figures in the graphs are not adjusted for current dollars. 

Median Asking Sales Price for Vacant for Sale Units, 1995-2012

Figure 3

(Current Dollars)

(Current Dollars)
3

For rental housing by area, the third quarter 2012 vacancy rate inside principal cities (8.8 percent) was not 

statistically different from the rates in the suburbs (8.1 percent) or outside Metropolitan Statistical Areas (MSA’s) 

(9.7 percent). The rental vacancy rate in the suburbs was lower than the rate outside MSA’s. The rental vacancy rates

inside principal cities and in the suburbs were lower than a year ago, while the rate outside MSA’s was not 

statistically different from the third quarter 2011 rate. 

The homeowner vacancy rate in principal cities (2.1 percent) was higher than the rate in the suburbs (1.8 

percent), but not statistically different from the rate outside MSA’s (2.0 percent). The rates in the suburbs and 

outside MSA’s were not statistically different from each other. The homeowner vacancy rates in principal cities, 

in the suburbs, and outside MSA’s were lower than a year ago.

Among regions, the rental vacancy rate was highest in the South (10.5 percent) and lowest in the Northeast 

(7.1 percent) and West (6.5 percent). The rates in the Northeast and West were not statistically different from each 

other. The rental vacancy rates in the Northeast, Midwest, and South were lower than in the third quarter 2011, 

while the rate in the West was not statistically different from the corresponding third quarter 2011 rate. 

For the third quarter 2012, the homeowner vacancy rate was higher in the South (2.1 percent) than in the 

West (1.7 percent). The rates in the Northeast, Midwest, and West were not significantly different from each other. 

The homeowner vacancy rates in the Midwest, South, and West were lower than a year ago, while the rate in the 

Northeast was not statistically different from the third quarter 2011 rate. 

Table 2. Rental and Homeowner Vacancy Rates by Area and Region: Third Quarter 2011 and 2012 

 (in percent)

Rental vacancy rates Homeowner vacancy rates

Area/Region Third

Quarter

2011

Third

Quarter

2012

90-Percent

Confidence Interval ( + ) a

Third

Quarter

2011

Third

Quarter

2012

90-Percent 

Confidence Interval ( + ) a

of

2012 rate

of

difference

of

2012 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

 10.4

 9.1

 9.7

 8.0

 10.5

 12.2

 7.3

 8.6

 8.5

 8.8

 8.1

 9.7

 7.1

 9.4

 10.5

 6.5

0.4

0.4

0.6

0.6

 1.4

0.7

0.7

0.8

0.7

0.4

0.4

0.6

0.7

 1.5

0.8

0.9

0.9

0.8

2.4

2.4

2.6

 2.3

 2.4

2.2

2.4

2.5

2.3

1.9

1.9

2.1

 1.8

 2.0

1.9

1.8

2.1

1.7

0.1

0.2

0.3

0.2

 0.3

0.3

0.2

0.2

0.3

0.2

0.2

0.3

0.2 

 0.4

0.4

0.3

0.3

0.3

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 11. 

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/metro/
4

Approximately 86.3 percent of the housing units in the United States in the third quarter 2012 were 

occupied and 13.7 percent were vacant. Owner-occupied housing units made up 56.5 percent of total housing 

units, while renter-occupied units made up 29.8 percent of the inventory in the third quarter 2012. Vacant yearround units comprised 10.2 percent of total housing units, while 3.4 percent were for seasonal use. 

Approximately 2.9 percent of the total units were for rent, 1.1 percent were for sale only, and 0.8 percent were 

rented or sold but not yet occupied. Vacant units that were held off market comprised 5.4 percent of the total 

housing stock. Of these units, 1.7 percent were for occasional use, 0.8 percent were temporarily occupied by 

persons with usual residence elsewhere (URE), and 2.9 percent were vacant for a variety of other reasons.

 Table 3. Estimates of the Total Housing Inventory for the United States: Third Quarter 2011 and 2012*

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

 

Type

Third

Quarter

2011/r

Third

Quarter

2012

Difference 

Between 

Estimates

90-Percent

Confidence

Interval ( + ) a Percent of

total

(2012)

of 2012

estimate

of

difference

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

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

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

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

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

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

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

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

 Rented or Sold.......

 Held off Market......

 For Occ’l Use.........

 Temp occ by URE...

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

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

132,352

113,548

75,251

38,298

18,804

14,428

4,239

1,862 

1,164

 7,162

 2,333

 990

 3,840

 4,377

132,839

114,695

75,076

39,619

18,145

13,585

3,809

1,476

1,110

7,190

2,271

 1,111

 3,807

 4,560

 487

 1,147

 -175

 1,321

 -659

 -843

 -430

 -386

 -54

 28

 -62

 121

 -33

 183

(X)

249

629

560

373

364

173

92

73

273

157

 110

 202

 245

(X)

230

430

431

334

320

199

123

104

237

137

93 

176

212

100

86.3

56.5

29.8

13.7

10.2

2.9

1.1

0.8

5.4

1.7

0.8

2.9

3.4

*

The housing inventory estimates are benchmarked to 2010 Census. 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 11.

 (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. 

 /r Revised using vintage 2011 housing unit controls. See note below.

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

 independent set of housing unit estimates produced annually by the Population Division from Census 2000 and 2010 and updated using building permit

 data, estimates of housing loss, and other administrative record data. Doing so makes the CPS/HVS estimates of housing units more comparable to other

 Census Bureau housing surveys controlled to these census-based estimates. The housing unit controls affect the estimate of vacant units in the sense

 that the estimates of total occupied and vacant units sum to the control total. Vacancy rates and homeownership rates are not affected by this change. 

 Beginning in the second quarter 2012, the housing inventory estimates are based on vintage 2011 housing unit controls that are projected forward 

 through 2013. The third quarter 2011 housing inventory estimates, shown above, reflect vintage 2011 housing unit controls, benchmarked to the 

 2010 Census. The CPS/HVS historical table series, from the first quarter 2010 through the first quarter 2012, has also been revised based on 

 vintage 2011 housing unit controls. These revised estimates and additional information on terms and definitions can be found at: 

 http://www.census.gov/housing/hvs/data/histtabs.html

 For the methodology used in developing the housing unit estimates used for controls in the CPS/HVS, please see Population Division’s

 website: http://www.census.gov/popest/methodology/
5

The homeownership rate of 65.5 percent was 0.8 percentage points (+/-0.4) lower than the third quarter 

2011 rate (66.3 percent) and approximately the same as the rate last quarter (+/-0.4)*. 

Table 4. Homeownership Rates for the United States: 1995 to 2012 (in percent) 

Homeownership Ratesa

Year First 

Quarter

Second 

Quarter

Third 

Quarter

Fourth 

Quarter

↓

2012................................. 65.4 65.5 65.5

2011................................. 66.4 65.9 66.3 66.0

2010.................................

2009.................................

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

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

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

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

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

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

2002b

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

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

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

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

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

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

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

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

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

67.1

67.3

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

 66.9

 

 67.4

 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

66.9

67.6

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

66.5

67.2

67.5

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

 a

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

 b

Revised in 2002 to incorporate information collected in Census 2000. 

*90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero. 
6

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

1995 to the present. (Research has shown that seasonality for homeownership rates is present.) When

adjusted for seasonal variation, the current homeownership rate (65.3 percent) was lower than the rate in the 

third quarter 2011 (66.1 percent) and not significantly different than the rate last quarter (65.6 percent).

Table 4SA. Homeownership Rates for the United States: 1995 to 2012 Seasonally Adjusted*

 (in percent)

 Homeownership Ratesa (Seasonally Adjusted)

Year First

Quarter

Second 

Quarter

Third 

Quarter

Fourth 

Quarter

↓

2012................................. 65.6 65.6 65.3

2011................................. 66.5 66.0 66.1 66.0

2010.................................

2009.................................

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

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

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

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

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

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

2002b................................

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

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

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

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

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

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

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

67.2 

67.4

67.9

68.5

68.6

69.2

68.7

68.1

67.9

 67.6

 67.1

66.7

66.0

65.5

65.3

64.4

 66.9

 

 67.4

 68.1

 68.3

 68.8

 68.8

 

 69.4

68.2 

67.8

67.9

 67.3

66.7

66.1

65.7

 65.4

64.7

66.7

67.4 

67.7

68.0

68.9

68.7

68.9

68.3

67.9

67.9

67.5

66.8

66.6

65.8

65.4

64.8

 66.5

 

 67.2

 67.5

 67.8

68.8

68.9

69.0

68.5

68.2

67.9

67.5

66.9

66.5

65.8

65.4

65.1

 *

As new quarterly data are input, previous quarters’ seasonally adjusted homeownership rates may change. 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. 
7

For the third 2012, the homeownership rates were highest in the Midwest (69.6 percent) and lowest in the 

West (60.1 percent). The homeownership rate in the South was lower than the corresponding third quarter 2011 

rate, while the rates in the Northeast, Midwest, and West were not statistically different from the rates a year ago. 

Table 5. Homeownership Rates for the United States and Regions: 2006 to 2012 (in percent)

Homeownership Ratesa

 Year/Quarter United 

States Northeast Midwest South West

2012

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

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

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

2011

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

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

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

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

2010

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

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

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

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

2009

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

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

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

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

2008

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

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

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

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

2007

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

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

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

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

2006

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

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

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

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

65.5

65.5

65.4

66.0

66.3

65.9

66.4

66.5

66.9

66.9

67.1

67.2

67.6

67.4

67.3

67.5

67.9

68.1

67.8

67.8

68.2

68.2

68.4

68.9

69.0

68.7

68.5

63.9

63.7

62.5

63.7

63.7

63.0

63.9

64.1

63.9

64.2

64.4

63.9

64.0

64.3

63.7

64.0

64.4

65.3

64.7

64.6

65.2

65.4

64.8

65.3

65.5

65.4

64.7

69.6

69.6

69.5

70.0

70.3

70.0

70.4

70.5

71.1

70.8

70.9

71.3

71.6

70.5

70.7

71.4

71.9

71.7

72.0

71.7

71.9

71.8

72.2

73.0

72.8

72.5

72.5

66.9

67.4

67.5

68.3

68.4

68.2

68.4

68.5

69.1

69.1

69.2

69.1

69.7

70.0

69.6

69.8

69.9

70.2

69.7

70.0

70.1

69.9

70.6

70.8

70.6

70.4

70.4

60.1

59.7

59.9

60.1

60.7

60.3

60.9

61.0

61.3

61.4

61.9

62.3

62.7

62.5

62.8

62.7

63.5

63.0

62.8

62.7

63.5

64.1

63.6

64.5

65.3

64.7

64.4

 a

Standard errors for quarterly homeownership rates by region generally are 0.6 percent.
8

For the third quarter 2012, the homeownership rates were highest for those householders ages 65 years and 

over (81.4 percent) and lowest for the under 35 years of age group (36.3 percent). The rates for householders less 

than 35 years, 35 to 44, and 55 to 64 years were lower than the third quarter 2011 rates. The rates for householders

45 to 54 and 65 years and older were not statistically different from the third quarter 2011 rates. 

Table 6. Homeownership Rates by Age of Householder: 2006 to 2012 (in percent)

Homeownership Ratesa

Year/Quarter United 

States

Under

35 years

35 to 44

years

45 to 54

years

55 to 64

years

65 years

and over

2012

Third Quarter......

Second Quarter...

First Quarter......

2011

Fourth Quarter.....

Third Quarter......

Second Quarter...

First Quarter......

2010

Fourth Quarter.....

Third Quarter......

Second Quarter...

First Quarter.......

2009

Fourth Quarter.....

Third Quarter......

Second Quarter....

First Quarter.......

2008

Fourth Quarter.....

Third Quarter......

Second Quarter....

First Quarter........

2007

Fourth Quarter.....

Third Quarter......

Second Quarter....

First Quarter.......

2006

Fourth Quarter.....

Third Quarter......

Second Quarter....

First Quarter.......

65.5

65.5

65.4

66.0

66.3

65.9

66.4

66.5

66.9

66.9

67.1

67.2

67.6

67.4

67.3

67.5

67.9

68.1

67.8

67.8

68.2

68.2

68.4

68.9

69.0

68.7

68.5

36.3

36.5

36.8

37.6

38.0

37.5

37.9

39.2

39.2

39.0

38.9

40.4

39.8

39.0

39.8

40.3

41.0

41.2

41.3

41.0

42.0

41.9

41.7

42.8

43.0

42.4

42.3

61.8

62.2

61.4

62.3

63.4

63.8

64.4

63.9

65.2

65.6

65.3

65.7

66.5

66.8

65.7

66.6

67.2

67.6

66.7

67.2

68.1

67.6

68.3

68.9

68.8

68.9

68.9

72.0

71.4

71.3

72.7

72.7

72.3

73.1

72.7

73.0

73.6

74.8

74.0

74.5

74.5

74.6

74.5

75.2

75.4

75.0

 75.1

75.2

75.5

75.8

76.4

76.4

76.3

75.8

76.9

77.1

77.8

79.0

78.6

77.8

78.6

79.0

79.2

78.7

79.1

78.9

79.4

79.9

79.8

79.7

80.0

80.1

80.4

80.4

81.1

80.6

80.4

80.7

80.7

81.0

81.2

81.4

81.6

80.9

80.9

81.1

80.8

81.0

80.5

80.6

80.4

80.6

80.2

80.9

80.4

80.4

80.4

80.1

80.2

79.9

80.3

79.9

80.5

80.9

81.2

81.5

80.6

80.3

 a

Standard errors for quarterly homeownership rates by age of householder generally are 0.5 percent.
9

For the racial categories shown below, the homeownership rate for the third quarter 2012 for non-Hispanic 

White householders reporting a single race was highest at 73.6 percent. The rate for All Other Races householders 

was second at 54.6 percent and Black Alone householders was lowest, at 44.1 percent. The homeownership rates for

Black Alone and All Other Race householders were lower than the third quarter 2011 rates, while the rate for nonHispanic White householders was not statistically different from the rate last year. 

The homeownership rate for Hispanic householders (who can be of any race), 46.7 percent, was not 

statistically different from the third quarter 2011 rate.

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 2008 to 2012 (in percent)

Homeownership Ratesa

Year/Quarter

United

States

 NonHispanic

White alone

Black

Aloneb

All

Other

Racesc

Hispanic

(of any race)

2012

Third Quarter......

Second Quarter...

First Quarter........

2011

Fourth Quarter.....

Third Quarter......

Second Quarter...

First Quarter.........

2010

Fourth Quarter.....

Third Quarter......

Second Quarter...

First Quarter.......

2009

Fourth Quarter.....

Third Quarter......

Second Quarter....

First Quarter........

2008

Fourth Quarter.....

Third Quarter......

Second Quarter....

First Quarter.......

65.5

65.5

65.4

66.0

66.3

65.9

66.4

66.5

66.9

66.9

67.1

67.2

67.6

67.4

67.3

67.5

67.9

68.1

 67.8

73.6

73.5

73.5

73.7

73.8

73.7

74.1

74.2

74.7

74.4

74.5

74.5

75.0

74.9

74.7

74.8

75.1

75.2

75.0

44.1

43.8

43.1

45.1

45.6

44.2

44.8

44.8

45.0

46.2

45.6

46.0

46.4

46.5

46.1

46.8

47.8

47.8

47.1

54.6

55.0

55.1

56.5

56.4

56.0

56.7

57.7

57.3

55.7

57.2

58.4

57.8

57.6

57.4

58.3

59.0

58.4

58.1

46.7

46.5

46.3

46.6

47.6

46.6

46.8

46.8

47.0

47.8

48.5

48.4

48.7

48.1

48.6

48.6

49.5

49.6

48.9

 a

Standard 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.

 b

The homeownership rate for third quarter 2012 for householders who reported Black whether or not they reported any other race was 44.0 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 website at 

 http://www.census.gov/population/www/cen2000/briefs.html
10

The homeownership rate for households with family incomes greater than or equal to the median family 

income was lower than the third quarter 2011 rate (81.3 percent). The rate for those households with family incomes 

less than the median family income was also lower than the third quarter 2011 rate (51.3 percent). 

 

Table 8. Homeownership Rates by Family Income: 2007 to 2012 (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

2012*

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

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

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

2011*

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

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

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

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

2010*

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

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

Second Quarter.........

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

2009

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

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

Second Quarter.........

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

2008

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

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

Second Quarter.........

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

2007

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

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

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

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

65.5

65.5

65.4

66.0

66.3

65.9

66.4

66.5

66.9

66.9

67.1

67.2

67.6

67.4

67.3

67.5

67.9

68.1

67.8

67.8

68.2

68.2

68.4

80.3

80.5

80.3

80.8

81.3

81.2

81.5

81.7

81.9

81.9

82.0

81.8

81.9

82.2

82.4

82.9

83.0

83.5

82.8

83.0

83.7

83.4

83.3

50.6

50.6

50.4

51.3

51.3

50.6

51.4

51.4

51.9

51.9

52.2

50.2

51.7

51.5

51.0

51.2

52.0

51.8

51.2

50.9

51.9

52.0

52.1

 a

Standard errors for quarterly homeownership rates by family income generally are 0.3 percent. b

Based on family or primary individual income.

 * Beginning in 2010, we began imputing missing values for the family income question, which is used in the homeownership table above.

Previously, householders not responding to this question were excluded from the homeownership calculations for those below/above the median 

family income level. When compared to previous procedures, this change resulted in an increase in the homeownership rate of 1.7 percentage points for 

those at or below the median family income and an increase of 0.4 percentage points for those above the median family income level for the third quarter 

2012. Under previous procedures (not imputing missing values) for the third quarter 2012, the homeownership rate was 48.9 percent for those at or below 

the median family income and 79.9 percent for those above the median family income level. Data users should keep this in mind when comparing data 

from 2010 and later to earlier data. 
11

 

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

is: http://www.census.gov/housing/hvs

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 8.6 percent is 0.232 percentage points. Then the 90-percent confidence interval is calculated as

8.6 + (1.645 x 0.232) percent, or 8.6 + 0.4 percent, or from 8.2 percent to 9.0 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 8.2 percent to 9.0 percent.

 Since the first quarter 2003, the Current Population Survey/Housing Vacancy Survey (CPS/HVS) 

housing inventory estimates have been controlled to independent housing unit estimates based upon Census 

2000 (2000-2009 data) and Census 2010 (2010-present data) and updated with building permit data, estimates 

of housing loss, and other administrative records data. In the second quarter 2012, the CPS/HVS revised the 

series of housing inventory estimates back to the first quarter 2010, based on the latest series of independent 

housing controls, the vintage 2011 time series. Housing inventory estimates from the second quarter 2000

through the fourth quarter 2009 are revised based on the vintage 2010 time series. Housing inventory estimates, 

prior to the second quarter 2000, have not been revised. The CPS/HVS housing inventory data series are based 

on the independently produced vintage 2011 housing unit estimates that are projected forward through the third

quarter 2012. The vintage 2011 estimates are benchmarked to the 2010 Census. The same general procedure 

will be followed each year in revising housing inventory estimates with the most up-to-date independent 

housing estimates available. 

For an explanation of the methodology used in producing the housing inventory independent estimates,

 please see: http://www.census.gov/popest/methodology

Note: This time series is by the latest "vintage" year. For example, vintage 2011 means that all of the estimates in this time series 

are identified as belonging to "vintage 2011." The 2010 data are from the 2011 vintage, the 2011 data are from the 2011 vintage, 

and so on.

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: http://www.census.gov/housing/hvs

Beginning in the first quarter 2012, the population controls reflect the results of the 2010 decennial census. 

This change has virtually no effect on vacancy and homeownership rates, as described below. 

Research has shown that the new 2010-based controls increased the rental vacancy rate in April 2010 from 

10.43 percent to 10.45 percent---a difference of less than 1/10 of one percent. The homeowner vacancy rate 

remained the same at 2.63 percent, while the homeownership rate was up from 66.67 percent to 66.74 percent.

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.
12

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























































 − +



















 −

+





















−

=

units for rent

Vacant year round

awaiting occupancy

units rented but

Vacant year round

units

occupied

Renter

units for rent

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































































































 − +

−

+

−

=

units for sale only

Vacant year round

awaiting occupancy

units sold but

Vacant year round

units

occupied

Owner

units for sale only

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 Homeownership Rate

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 units West

Owner occupied housing units West Homeownership Rate West