UNITED STATES DEPARTMENT OF 
COMMERCE 
NEWS    
WASHINGTON, D.C. 20230      
          
Robert R. Callis                                For Release 10:00 AM EDT, April 22, 1997 
Alan Friedman                                   CB97-59
(301) 763-8165

           CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND
                              HOMEOWNERSHIP

(The numbers in parentheses denote the 90-percent confidence intervals.) 
 
     National vacancy rates in the first quarter 1997 were 7.5  (+/- 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
Census Bureau said that the rental vacancy rate was not significantly different
from the rate last quarter or the rate in the first quarter 1996.  The homeowner
vacancy rate was higher than the rate one year ago, but not different from
last quarter.
 
Table 1.  Rental and Homeowner Vacancy Rates for the United States:
          1980 to 1997 (in percent)

.
          Rental Vacancy Rate    Homeowner Vacancy Rate
      
    
     First Second  Third  Fourth  First   Second  Third   Fourth
   Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
 
1997  7.5                          1.7 
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) (8.0 percent and 8.8 percent) than in the
suburbs (6.4 percent).  The 8.0 percent and the 8.8 percent were not
significantly different from each other.  The rental vacancy rate in suburbs
was lower than in the first quarter 1996, while rates in central cities
and outside MAs were not significantly different from one year ago. 
 
    For homeowner housing, the vacancy rates in central cities and outside
MAs (2.0 percent each) were higher than in suburbs (1.5 percent).  The
homeowner vacancy rate outside MAs was higher than the rate one year ago,
while rates in central cities and in the suburbs did not change significantly.

    Among regions, the rental vacancy rates in the Midwest (8.5 percent) and
South (8.7 percent) were higher than rates in the Northeast (6.1 percent)
and West (6.2 percent).  The 8.5 percent was not significantly different
from the 8.7 percent, nor was the 6.1 percent significantly different from
the 6.2 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 (1.3 percent). 
Homeowner vacancy rates in the Northeast, South, and West (about 1.8 percent)
were not significantly different from each other.  The homeowner vacancy rate
in the South was higher than one year ago, while rates in the Northeast,
Midwest, and West showed no significant change from one year ago.
 
Table 2.  Rental and Homeowner Vacancy Rates By Area:
              First Quarter 1997 and 1996 (in percent)

             
               Rental vacancy rates            Homeowner vacancy rates          
         
                 1st  1st  Std err Standard   1st   1st Std err  Standard    
Area             Qtr  Qtr  on 1997 error on    Qtr   Qtr on 1997 error on       
                1997 1996    rate    differ-  1997  1996    rate   differ-       
                                       ence                          ence        
                                                               
 
United States.. 7.5   7.9     0.2     0.3     1.7   1.6     0.1     0.1 
 Inside MAs.... 7.3   7.6     0.2     0.3     1.6   1.6     0.1     0.1 
  In central 
   cities...... 8.0   8.0     0.3     0.4     2.0   2.1     0.1     0.2 
  Not in central 
   cities (sub- 
   urbs)....... 6.4   7.1     0.3     0.4     1.5   1.3     0.1     0.1 
 Outside MAs... 8.8   9.6     0.5     0.7     2.0   1.7     0.1     0.2 
   
 Northeast..... 6.1   6.9     0.4     0.5     1.8   1.7     0.2     0.2
 Midwest....... 8.5   8.3     0.4     0.6     1.3   1.5     0.1     0.2 
 South......... 8.7   8.5     0.3     0.5     1.9   1.6     0.1     0.1 
 West.......... 6.2   7.6     0.3     0.5     1.8   1.7     0.1     0.2
 
    There were an estimated 115.1 million housing units in the United States
in the first quarter 1997 Approximately 101.7 million were occupied, 66.5
million by owners and 35.2 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 13.4 million vacant
housing units, 10.0 million were for year-round use.  Approximately 2.9
million of the year-round vacant units were for-rent, 1.2 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:
              First Quarter 1997 and 1996
              (Numbers in Thousands)
                                   
                                            Standard         
           Type              1st     1st    error on    Standard   Percent     
                             Qtr      Qtr       1997    error on  of total      
                             1997    1996   Estimate  difference   (1997)
                                          
  All housing units........115,064   113,258    238       337        100
                                                             
Occupied...................101,702   100,472    246       348         88
  Owner ................... 66,497    65,453    240       340         58
  Renter................... 35,205    35,019    198       280         31
                                                             
Vacant..................... 13,362    12,786    131       183         12
 Year-round vacant......... 10,007     9,656    115       161          9
   For rent................  2,886     3,026     63        90          3
   For sale only...........  1,176     1,066     40        56          1       
   Other...................  5,945     5,564     89       124          5       
                                         
 Seasonal................... 3,355     3,130     68        94          3


    During the first quarter 1997, 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 1997
               (in percent)

                                  Homeownership Rates1

         Year           First       Second       Third      Fourth
                       Quarter      Quarter     Quarter     Quarter

1997.................    65.4
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 first quarter 1997 were highest in the Midwest
(70.6 percent) and lowest in the West (59.0 percent).  The homeownership
rates in each region showed no significant change from the first quarter 1996.


Table 5.  Homeownership Rates for the United States and Regions:
          1994 to 1997 (in percent)

                               Homeownership Rates2

Year/Quarter       United      Northeast    Midwest    South    West   
                   States
1997

First Quarter        65.4         61.6         70.6      67.8     59.0


1996

Fourth Quarter       65.4         62.3         70.8      67.6     58.9
Third Quarter        65.6         62.8         70.7      67.5     59.2
Second Quarter       65.4         62.3         70.5      67.2     59.8
First Quarter        65.1         61.4         70.4      67.5     58.9

1995

Fourth Quarter       65.1         61.6         70.1      67.5     59.0
Third Quarter        65.0         62.2         70.1      66.6     59.1
Second Quarter       64.7         62.3         68.5      66.5     59.8
First Quarter        64.2         61.9         67.9      66.1     58.9

1994

Fourth Quarter       64.2         61.4         68.6      65.7     59.6
Third Quarter        64.1         61.4         67.9      66.0     59.0
Second Quarter       63.8         61.3         67.5      65.2     59.7
First Quarter        63.8         61.7         66.8      65.6     59.5

2Standard errors for quarterly homeownership rates by region generally are
0.4 percent.


    Homeownership rates by age of householder ranged from 38.6 percent for
householders less than 35 years old to 79.6 percent for householders 55 to
64 years old in the first quarter 1997.  The homeownership rate for householders
35 to 44 years old was higher than the rate one year ago, while rates for all
other age categories showed no significant change.


Table 6.  Homeownership Rates by Age of Householder: 1994 to 1997
               (In percent)

                             Homeownership Rates3

Year/Quarter   U.S.  Less than  35 to 44  45 to 54  55 to 64  65 years
              total  35 years   years     years     years     and over 


1997

First Quarter  65.4    38.6        65.5      75.5      79.6      79.2


1996

Fourth Quarter 65.4    39.1        65.5      75.6      80.1      79.2
Third Quarter  65.6    39.0        66.3      75.9      79.7      78.6
Second Quarter 65.4    39.3        65.5      75.5      80.0      78.9
First Quarter  65.1    38.8        64.6      75.5      80.2      79.1

1995

Fourth Quarter 65.1    39.1        65.5      75.2      79.5      78.7 
Third Quarter  65.0    39.1        65.4      75.4      79.3      78.1
Second Quarter 64.7    38.7        65.1      75.2      79.9      78.1
First Quarter  64.2    37.7        64.9      74.9      79.4      77.5

1994 
 
Fourth Quarter 64.2    38.0        64.7      74.9      79.2      77.7
Third Quarter  64.1    37.5        64.3      75.5      79.4      77.2
Second Quarter 63.8    36.8        64.6      75.2      79.1      77.2
First Quarter  63.8    37.1        64.4      75.0      79.3      77.4
 
3Standard errors for quarterly homeownership rates by age of householder
generally are 0.4 percent.
 
 
    The homeownership rate in the first quarter 1997 remained highest for White
non-Hispanic householders at 71.6 percent.  The homeownership rates for White,
White non-Hispanic, Black, Other Race, and Hispanic householders showed no
significant difference from a year ago.


Table 7.  Homeownership Rates by Race and Ethnicity of Householder:
          1994 to 1997  (in percent)


                              Homeownership Rates4

                                  Non-Hispanic

                                      White              Other
Year/Quarter     United      White,   non-      Black,   Race,  Hispanic
                 States,      total   Hispanic   total    total    total    
                  total

1997

First Quarter      65.4       69.0      71.6      44.5    51.8     42.6 
 
 
1996 
 
Fourth Quarter     65.4       69.1      71.8      44.4    51.4     42.3 
Third Quarter      65.6       69.2      71.8      44.5    51.5     43.5 
Second Quarter     65.4       69.2      71.7      43.7    50.0     43.9 
First Quarter      65.1       68.7      71.4      43.8    50.9     41.4 
 
1995 
 
Fourth Quarter     65.1       68.8      71.2      44.3    48.4     41.1 
Third Quarter      65.0       69.0      71.0      43.0    46.5     42.5 
Second Quarter     64.7       68.7      70.9      42.2    46.7     42.8 
First Quarter      64.2       68.2      70.4      41.2    47.2     41.8 
 
1994 
 
Fourth Quarter     64.2       68.0      70.2      42.6    47.6     42.2 
Third Quarter      64.1       67.8      70.0      42.7    46.9     41.4 
Second Quarter     63.8       67.6      69.9      41.8    46.3     41.1 
First Quarter      63.8       67.4      69.8      42.1    50.1     40.3 
 
4Standard errors for quarterly homeownership rates by race and ethnicity of
householder generally are 0.2 percent for White and White non-Hispanic
householders, 0.5 for Black householders, 1.0 percent for Other Race
householders, and 0.7 for Hispanic householders.
 
    The homeownership rate for households with incomes less than the median
family income in the first quarter 1997 was 49.9 percent, compared with 79.7
percent for households with incomes greater than or equal to the median family
income.  These homeownership rates were not statistically different from first
quarter 1996 rates.  
 
Table 8.  Homeownership Rates by Family Income: 1994 to 1997 (in percent) 
 
                            Homeownership Rates5 
 
                United        Households with           Households with 
                States,       family income greater     family income 
                 total        or equal to median        less than median 
                              family income6            family income6 
 
Year/Quarter 
 
1997 
 
First Quarter      65.4            79.7                       49.9 
 
1996 
 
Fourth Quarter     65.4            80.1                       49.8 
Third Quarter      65.6            80.5                       49.4 
Second Quarter     65.4            80.3                       49.2 
First Quarter      65.1            79.7                       49.4 
 
1995 
 
Fourth Quarter     65.1            79.8                       49.4 
Third Quarter      65.0            79.6                       49.0 
Second Quarter     64.7            79.5                       48.6 
First Quarter      64.2            79.1                       48.1 
 
1994 
 
Fourth Quarter     64.2            78.8                        48.6 
Third Quarter      64.1            78.3                        48.9 
Second Quarter     63.8            78.4                        48.0 
First Quarter      63.8            78.5                        48.1 
 
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/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 7.5 percent is 0.2 percentage points. 
Consequently, the 90-percent confidence interval as shown by these data is from
7.2 to 7.8; i.e., the interval 7.5 +/- (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.