UNITED STATES DEPARTMENT OF                     
COMMERCE 
NEWS      
WASHINGTON, D.C. 20230                        
          
Robert R. Callis                    For Release 10:00 AM EDT, January 23, 1997 
Alan Friedman                       CB96-05
(301) 763-8165

           CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND
                              HOMEOWNERSHIP

     National vacancy rates in the fourth quarter 1996 were 7.7  (+/- 0.3)
percent in rental housing and 1.7 percent (+/- 0.1) percent in homeowner
housing, the Department of Commerce's Census Bureau announced today.  The
Bureau said that neither the rental vacancy rate nor the homeowner vacancy
rate was significantly different from the rate last quarter or the rate in
the fourth quarter 1995.

     Table 1.  Rental and Homeowner Vacancy Rates for the United States:
               1980 to 1996 (in percent)

              Rental vacancy rates         Homeowner vacancy rates

         First  Second  Third   Fourth   First  Second  Third  Fourth
 Year  quarter quarter quarter quarter quarter quarter quarter quarter

                                 .                              .  
1996...  7.9     7.8     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) (8.3 percent each) than in the suburbs
(6.8 percent).  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 rate was highest in central cities
(2.1 percent).  The homeowner vacancy rates in the suburbs (1.5 percent)
and outside MAs (1.7 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 in the South (8.5 percent) was
higher than rates in the Northeast and West (about 6.9 percent), but not
significantly different from the Midwest (8.2 percent).  The rental vacancy
rate in the West was lower than a year ago, while rates in the Northeast,
Midwest, and South were not significantly different from one year ago.  
                                                                         
     The homeowner vacancy rate was lowest in the Midwest (1.4 percent). 
Homeowner vacancy rates in the Northeast, South, and West were each at about
1.8 percent.  The homeowner vacancy rates in each region showed no significant
change from one year ago.
                                                                         
     Table 2.  Rental and Homeowner Vacancy Rates By Region:
               Fourth Quarter 1996 and 1995 (in percent)
                  

                       Rental vacancy rates        Homeowner vacancy rates  

  Area                4th  4th Std err Standard  4th  4th Std err Standard
                      Qtr  Qtr on 1996 error on  Qtr  Qtr on 1996 error on
                     1996 1995    rate  differ- 1996 1995   rate   differ- 
                                         ence                       ence

                      .                         .                     
United States.......  7.7  7.7    0.2     0.2    1.7  1.6    0.1     0.1
                                                                     
  Inside MAs........  7.6  7.7    0.2     0.3    1.7  1.5    0.1     0.1
                                                                      
   In central cities  8.3  8.4    0.3     0.4    2.1  2.1    0.1     0.2
                                                                      
   Not in central                                                     
   cities (suburbs).  6.8  6.9    0.3     0.4    1.5  1.3    0.1     0.1
                                                                      
   Outside MAs......  8.3  8.0    0.5     0.7    1.7  1.7    0.1     0.2
                                                                     
                                                                     
  Northeast.........  7.1  6.9    0.4     0.5    1.8  1.5    0.2     0.2
                                                                     
  Midwest...........  8.2  7.6    0.4     0.6    1.4  1.3    0.1     0.1
                                                                      
  South.............  8.5  8.5    0.3     0.4    1.8  1.7    0.1     0.1
                                                                      
  West.............   6.7  7.5    0.3     0.5    1.9  1.8    0.1     0.2

                                                                         
     There were an estimated 114.6 million housing units in the United States
in the fourth quarter 1996. Approximately 101.3 million were occupied, 66.3
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 13.3 million vacant
housing units, 10.0 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 5.9 million were vacant for a variety of reasons.  There
was an increase in the number of vacant for-sale-only, other vacant, and
seasonally vacant units, while the number of for-rent units did not change
significantly from one year ago.


     Table 3.  Estimates of the Total Housing Inventory for the United States:
               Fourth Quarter 1996 and 1995
               (Numbers in Thousands)
                                                                       
                                                            
                                       Standard               
Type                   Fourth  Fourth  error on    Standard    Percent  
                      quarter quarter      1996    error on   of total
                         1996    1995  Estimate  difference     (1996)

                        .    
All housing units.....114,555  112,987    238        331         100
                                                            
  Occupied............101,264  100,363    246        342          88
    Owner............. 66,277   65,355    240        333          58
    Renter............ 34,987   35,008    198        274          31
                                                            
  Vacant.............. 13,291   12,624    131        179          12
    Year-round........  9,979    9,529    114        157           9
      For rent........  2,950    2,966     63         88           3
      For sale only...  1,146    1,050     40         54           1
      Other...........  5,883    5,513     89        122           5
                                                            
    Seasonal..........  3,312    3,095     67         92           3

                                                                       
     During the fourth quarter 1996, the homeownership rate was 65.4 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 1996
               (in percent)

                                   Homeownership Rates1
        Year        
                         First     Second      Third     Fourth
                       quarter    quarter    quarter    quarter

                                                          .           
 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 fourth quarter 1996 were highest in the Midwest
(70.8 percent) and lowest in the West (58.9 percent).  The homeownership
rates in each region showed no significant change from the fourth
quarter 1995.
                                                                         
     Table 5.  Homeownership Rates for the United States and Regions:
               1994 to 1996 (in percent)
                                         

                        Homeownership Rates2      

 Year/Quarter  U.S. total   Northeast   Midwest   South    West
                                                         
1996                                                     
                   .      
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 39.1 percent for
householders less than 35 years old to 80.1 percent for householders 55 to
64 years old in the fourth quarter 1996.  The homeownership rates for each
of the age categories showed no significant change from a year ago.


     Table 6.  Homeownership Rates by Age of Householder: 1994 to 1996
               (In percent)

                             Homeownership Rates3     

 Year/Quarter     U.S.  Less than  35 to 44  45 to 54  55 to 64 65 years
                 total   35 years    years     years     years  and over

                                                                
1996                                                            
                    .     
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 fourth quarter 1996 was highest for White
non-Hispanic householders at 71.8 percent.  The homeownership rates for White
non-Hispanic and Other race householders were higher than in the fourth
quarter 1995.  Homeownership rates for White, Black, and Hispanic householders
showed no significant difference from a year ago.


     Table 7.  Homeownership Rates by Race and Ethnicity of Householder:
               1994 to 1996 (in percent)

                        Homeownership Rates4
  
                                  White          Other  
Year/Quarter      U.S.  White,      Non- Black,   Race,  Hispanic,
                 total  total  Hispanic  total   total     total
                                                        
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 total and White Non-
Hispanic householders, 0.5 for Black householders, 1.0 percent for Other
Race householders, and 0.7 percent for Hispanic householders.


     The homeownership rate for households with incomes less than the median
family income in the fourth quarter 1996 was 49.8 percent, compared to 80.1
percent for households with incomes greater than or equal to the median
family income.  These homeownership rates were not statistically different
from fourth quarter 1995 rates. 


     Table 8.  Homeownership Rates by Family Income: 1994 to 1996
               (in percent)

                                 Homeownership Rates5

                     U.S. total        Households with   Households with
 Year/Quarter                    family income greater     family income 
                               than or equal to median  less than median
                                        family income6    family income6
                                                       
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

5Standard errors for quarterly homeownership rates by family income         
 generally are 0.3 percent.
6Based on families or primary individuals reporting income.
                                    
Note: This press release along with more detailed data are available on the
Internet.  Our Internet address is:
http://www.census.gov/ftp/pub/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 7.7 percent is 0.2 percentage points. 
Consequently, the 90-percent confidence interval as shown by these data is
from 7.4 to 8.0; i.e., the interval 7.7 +/- (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.