UNITED STATES DEPARTMENT OF

COMMERCE

NEWS

WASHINGTON, D.C. 20230

Robert R. Callis For Release 10:00 AM EDT, July 26, 2001

Linda B. Cavanaugh CB01-121

(301)457-3199

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND

HOMEOWNERSHIP

National vacancy rates in the second quarter 2001 were 8.3 percent in rental housing and 1.8

percent in homeowner housing, the Department of Commerce=s Census Bureau announced today. The

Census Bureau said that while the rental vacancy rate remained statistically unchanged from the

corresponding rates for last year and last quarter, the homeowner vacancy rate was higher than the

respective rates in the second quarter 2000 and last quarter.

Table 1. Rental and Homeowner Vacancy Rates for the United States: 1982 to 2001 (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

↓ ↓

 2001....

2000.....

1999.....

1998.....

1997.....

1996.....

1995.....

1994.....

1993r....

 1993.....

1992.....

1991.....

1990.....

1989r....

1989.....

1988.....

1987.....

1986.....

1985.....

1984.....

1983.....

1982.....

8.2

7.9

8.2

7.7

7.5

7.9

7.4

7.5

7.8

7.9

7.4

7.5

7.5

7.5

7.3

8.0

7.4

6.9

6.3

5.6

5.7

5.3

8.3

8.0

8.1

8.0

7.9

7.8

7.7

7.4

7.6

7.6

7.7

7.3

7.0

7.4

7.3

7.7

7.5

7.3

6.2

5.5

5.5

5.1

8.2

8.2

8.2

7.9

8.0

7.7

7.2

7.0

7.1

7.3

7.6

7.2

7.6

7.3

7.8

8.1

7.5

6.8

6.0

5.8

5.3

7.8

7.9

7.8

7.7

7.7

7.7

7.4

6.9

6.9

7.1

7.3

7.2

7.1

6.8

7.3

7.8

7.7

6.7

6.3

5.5

5.5

 1.5

 1.6

1.8

1.7

1.7

1.6

1.5

1.4

1.4

1.4

1.5

1.7

1.7

1.7

1.5

1.6

1.7

1.5

1.8

1.6

1.4

1.4

 1.8

 1.5

1.6

1.7

1.6

1.5

1.6

1.4

1.4

1.4

1.6

1.8

1.7

1.7

1.6

1.6

1.7

1.7

1.9

1.7

1.5

1.6

 1.6

1.6

1.7

1.5

1.7

1.5

1.4

1.4

1.4

1.6

1.8

1.7

1.9

1.8

1.6

1.7

1.6

1.8

1.7

1.6

1.5

 1.6

1.6

1.8

1.7

1.7

1.6

1.6

1.4

1.4

1.5

1.6

1.7

1.8

1.6

1.6

1.6

1.6

1.6

1.7

1.6

1.6

rRevised.

 BUREAU OF

 THE

 CENSUS
2

For rental housing, the vacancy rate was highest outside Metropolitan Areas (MAs), 10.5 percent,

and lowest in the suburbs, 7.4 percent. None of the rental vacancy rates for areas changed significantly

from their corresponding second quarter 2000 rates.

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

central cities and outside MAs were higher than their respective rates in the second quarter 2000, while the

rate in the suburbs showed no significant change.

Among regions, the rental vacancy rates were higher in the Midwest, 10.3 percent, and the South,

10.8 percent, and lower in the Northeast, 5.3 percent, and West, 5.7 percent. The 10.3 percent and 10.8

percent were not significantly different from each other; nor were the 5.3 percent and 5.7 percent. Only the

Midwest, 10.3 percent, had a rate that was higher than last year, while the other regions were not

significantly different.

The homeowner vacancy rates in the South, 2.0 percent, and the Midwest, 1.9 percent, were higher

than those shown in the Northeast, 1.2 percent, and the West, 1.6 percent. The 1.9 percent and 2.0 percent

were not significantly different from each other. The homeowner vacancy rate in the Midwest, 1.9 percent,

increased from 1.3 percent in second quarter 2000, while the other regions did not change significantly

during the same time period.

Table 2. Rental and Homeowner Vacancy Rates By Area:

 Second Quarter 2001 and 2000 (in percent)

Rental vacancy rates Homeowner vacancy rates

Area Second

Quarter

2001

Second

Quarter

2000

Standard

error on

2001

rate

Standard

error on

difference

Second

Quarter

2001

Second

Quarter

2000

Standard

error on

2001

rate

Standard

error on

difference

United States........

 InsideMAs.........

 In central cities

 Not in central

 cities (suburbs)

 Outside MAs......

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

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

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

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

8.3

7.9

8.4

7.4

10.5

5.3

 10.3

10.8

5.7

8.0

7.6

8.2

7.0

10.1

5.8

8.3

10.5

6.0

0.2

0.2

0.3

0.3

0.5

0.4

0.5

0.4

0.3

0.3

0.3

0.4

0.4

0.8

0.5

0.7

0.5

0.5

1.8

1.6

2.2

1.3

2.5

1.2

1.9

2.0

1.6

1.5

1.3

1.7

1.2

1.9

1.2

1.3

1.8

1.4

0.1

0.1

0.1

0.1

0.2

0.1

0.1

0.1

0.1

0.1

0.1

0.2

0.1

0.2

0.2

0.2

0.1

0.2
3

There were an estimated 121.6 million housing units in the United States in the second quarter

2001. Approximately 106.8 million housing units were occupied, 72.3 million by owners and 34.5 million

by renters. While the number of owner-occupied units increased, the number of renter-occupied units did

not change significantly from that reported one year ago. Of the 14.9 million vacant housing units, 11.1

million were for year-round use. Approximately 3.2 million of the year-round vacant units were for-rent,

1.3 million were for-sale-only, and the remaining 6.6 million were vacant for a variety of reasons.

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

 Second Quarter 2001 and 2000

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

 Type

Second

 Quarter

2001

Second

Quarter

2000

Standard

error on

2001

Estimate

Standard

error on

difference

Percent of

total

(2001)

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

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

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

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

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

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

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

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

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

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

121,615

106,765

72,252

34,513

14,850

11,084

3,175

1,300

6,609

 3,766

119,481

105,296

70,758

34,538

14,185

10,653

3,040

 1,063

6,550

3,532

231

243

244

197

138

120

66

42

94

72

328

345

345

278

192

168

92

57

133

100

100

88

59

28

12

9

3

1

5

3
4

During the second quarter 2001, the homeownership rate was 67.7 percent. The homeownership

rate was higher than the rate for the second quarter 2000, but did not change significantly from the rate last

quarter.

Table 4. Homeownership Rates for the United States: 1980 to 2001

 (in percent)

 Year

Homeownership Rates1

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

↓

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

67.5

67.1

66.7

65.9

65.4

65.1

64.2

63.8

63.7

64.2

64.0

63.9

64.0

63.9

63.9

63.7

63.8

63.6

64.1

64.6

64.7

64.8

65.6

65.5

67.7

67.2

66.6

66.0

 65.7

65.4

64.7

63.8

63.9

64.4

63.9

63.9

63.7

63.8

63.9

63.7

63.8

63.8

64.1

64.6

64.7

64.9

65.3

65.5

67.7

67.0

66.8

66.0

65.6

65.0

64.1

64.2

64.7

64.3

64.2

64.0

64.1

64.0

64.0

64.2

63.8

63.9

64.6

64.8

64.9

65.6

65.8

67.5

66.9

66.4

65.7

65.4

65.1

64.2

64.2

64.6

64.4

64.2

64.1

63.8

63.8

63.8

64.1

63.9

63.5

64.1

64.4

64.5

65.2

65.5

1

Standard errors for quarterly homeownership rates for the United States generally are 0.2 percent.

rRevised.
5

Table 4SA shows the seasonally adjusted homeownership rates for the United States from 1980 to

the present. (Research has shown that seasonality for homeownership rates is present.) The seasonally

adjusted homeownership rate for the second quarter 2001 was higher than the rate last year, but not

significantly different from the rate last quarter.

Table 4SA. Homeownership Rates for the United States: 1980 to 2001

 Seasonally Adjusted (in percent)

 Year

Homeownership Rates2 (Seasonally Adjusted)

First

Quarter

Second

Quarter

Third

Quarter

Fourth

Quarter

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

67.6

 67.2

66.8

66.0

65.5

65.2

64.4

64.0

63.8

(NA)

64.1

64.0

64.1

64.0

(NA)

63.8

63.9

63.7

64.1

64.6

64.7

64.8

65.6

65.5

67.8

67.3

66.7

66.1

65.8

65.4

64.8

63.9

64.0

(NA)

64.0

64.1

63.9

63.9

(NA)

63.8

63.9

63.8

64.1

64.6

64.7

64.9

65.4

65.6

67.5

66.8

66.6

65.8

65.4

64.8

63.9

64.0

(NA)

64.1

64.0

63.8

63.9

(NA)

63.9

64.1

63.7

63.8

64.5

64.6

64.7

65.4

65.6

67.6

67.0

66.5

r

65.8

65.4

65.1

64.1

64.1

(NA)

64.3

 64.1

64.0

63.7

(NA)

63.8

64.1

63.9

63.6

64.2

64.5

64.6

65.3

65.6

2

Standard errors for quarterly homeownership rates for the United States generally are 0.2 percent.

(NA) Not Applicable, only the revised series for 1989 and 1993 were used in calculating the seasonality adjustment.

rRevised.
6

During the second quarter 2001, the homeownership rate in the Midwest, 72.7 percent, was the

highest. The rates for the Northeast, 63.2 percent, and West, 62.9 percent, were not significantly different

from each other. The homeownership rate for the West was higher than the second quarter 2000 rate, while

rates in the Northeast, Midwest, and South were not significantly different from a year ago.

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

 1997 to 2001 (in percent)

Homeownership Rates3

 Year/Quarter

United

States

Northeast Midwest South West

2001

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

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

2000

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

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

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

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

1999

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

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

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

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

67.7

67.5

67.5

67.7

67.2

67.1

66.9

67.0

66.6

66.7

63.2

63.6

63.2

63.9

63.4

63.3

63.2

63.6

62.8

62.7

72.7

73.2

73.1

72.9

72.2

72.2

72.5

72.1

71.2

71.2

69.7

69.3

69.8

69.7

69.2

69.5

69.1

69.3

68.9

69.2

62.9

62.0

61.6

62.2

61.9

61.3

60.6

60.8

61.3

61.0

1998

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

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

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

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

1997

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

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

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

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

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

62.0

63.4

62.7

62.4

62.7

63.0

62.4

61.6

71.5

71.7

70.3

70.6

70.4

70.7

70.3

70.6

69.0

68.8

68.4

68.2

67.8

68.2

68.1

67.8

60.4

61.1

60.3

60.1

59.8

59.8

59.9

59.0

 3Standard errors for quarterly homeownership rates by region generally are 0.5 percent
7

The homeownership rate for second quarter 2001 for householders 55 to 64 years old increased

from one year ago, while the rates for all other age groups did not change significantly during the same

period. The homeownership rates by age of householder ranged from 40.8 percent for Under 35 years old,

to 81.5 percent for the 55 to 64 years age groups during the second quarter 2001.

Table 6. Homeownership Rates by Age of Householder: 1997 to 2001

 (in percent)

 Year/Quarter

Homeownership Rates4

United

States

Under

35 years

35 to 44

years

45 to 54

years

55 to 64

years

65 years

and over

2001

Second Quarter....

First Quarter.......

2000

Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1999

Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1998

Fourth Quarter.....

Third Quarter.......

Second Quarter....

First Quarter.........

1997

Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

 67.7

 67.5

 67.5

67.7

67.2

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

 40.8

 40.4

41.2

41.1

40.2

40.5

40.3

40.1

39.1

39.4

39.6

39.5

39.3

39.0

 38.7

38.9

38.6

38.6

 68.1

 68.1

 68.3

68.4

67.5

67.3

67.9

67.4

66.5

67.0

67.6

67.8

66.2

65.9

 65.9

66.5

66.3

65.5

 77.2

 76.5

76.4

76.8

76.7

76.0

75.2

76.3

76.4

76.2

74.9

76.3

75.5

75.9

 75.7

76.3

75.6

75.5

 81.5

 80.8

80.2

80.1

80.3

80.8

81.3

80.7

80.8

81.1

81.7

81.1

80.4

80.3

 80.3

80.1

80.3

79.6

 79.7

 80.7

80.4

80.7

80.3

80.1

79.6

80.8

80.4

79.8

79.2

79.7

79.2

79.1

 79.1

79.2

79.1

79.2

4

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

None of the racial and ethnic homeownership rates for second quarter 2001 changed significantly

from those reported for the second quarter 2000. The rates ranged from 74.1 percent for White

non-Hispanic householders to 46.1 percent for Hispanic householders.

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1997 to 2001

 (in percent)

 Year/Quarter

Homeownership Rates5

U.S. Total White,

 total

 White,

 NonHispanic

 Black,

 total

 Other

Race,

total

Hispanic6,

 total

2001

Second Quarter......

First Quarter.........

2000

Fourth Quarter.......

Third Quarter.........

Second Quarter......

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

1999

Fourth Quarter.......

Third Quarter.........

Second Quarter......

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

1998

Fourth Quarter.......

Third Quarter.........

Second Quarter......

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

1997

Fourth Quarter.......

Third Quarter.........

Second Quarter......

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

 67.7

 67.5

 67.5

 67.7

 67.2

 67.1

 66.9

 67.0

 66.6

 66.7

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

 71.3

 71.3

 71.2

 71.5

 70.9

 70.7

 70.5

 70.7

 70.4

 70.3

 70.1

70.4

69.7

69.6

69.3

69.5

69.4

69.0

74.1

74.0

73.9

74.3

73.7

73.4

73.3

73.5

73.2

72.8

72.6

73.1

72.5

72.1

71.9

72.3

72.1

71.6

 47.9

 47.5

47.8

46.8

46.7

47.4

46.8

46.6

45.3

46.3

45.9

46.6

44.7

45.2

45.1

45.3

44.4

44.5

55.2

53.9

52.4

53.9

54.4

53.6

54.3

54.5

53.2

52.8

52.7

53.6

53.5

52.3

52.5

53.1

52.7

51.8

 46.1

 46.1

 47.5

 46.7

 45.4

 45.7

 45.5

 45.5

 44.9

 46.2

45.7

44.9

43.9

44.4

44.0

43.0

43.3

42.6

5

Standard errors for quarterly homeownership rates by race and ethnicity of householder generally are 0.2

percent for White and White non-Hispanic householders, 0.5 percent for Black householders, 1.0 percent

for Other Race householders, and 0.7 percent for Hispanic householders.

6Hispanics may be of any race.
9

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

income was unchanged from a year ago, while the rate for households with incomes less than the median

family income increased from 50.8 percent to 51.7 percent during the same time period.

Table 8. Homeownership Rates by Family Income: 1997 to 2001 (in percent)

Homeownership Rates7

 Year/Quarter United States

Households with family

income greater than or

equal to the median

family income8

Households with family

income less than the

median family income

2001

Second Quarter.........

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

2000

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

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

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

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

1999

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

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

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

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

1998

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

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

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

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

1997

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

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

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

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

 67.7

 67.5

 67.5

67.7

67.2

67.1

 66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

65.7

66.0

65.7

65.4

82.0

81.7

81.6

81.7

81.8

81.4

81.6

81.7

81.5

81.1

80.7

81.6

80.7

80.7

80.5

80.9

80.8

79.7

51.7

51.6

51.8

52.2

50.8

51.4

51.2

51.4

50.8

51.2

51.1

51.1

50.0

50.2

50.0

50.2

50.0

49.9

7

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

8Based on families or primary individuals reporting income.
10

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

is: www.census.gov/hhes/www/hvs.html

The estimates in this release are based on a sample survey and therefore are subject to both

sampling and non-sampling error. Sampling error is a result of not surveying the entire population. Nonsampling error occurs because accurate information cannot always be obtained. The standard errors

provided in the tables are primarily measures of sampling error.

Standard errors are used to: 1) measure the accuracy of the survey estimates, and 2) draw inferences

from the survey data. For example, the standard error on the estimated rental vacancy rate of 8.3 percent is

0.2 percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 8.0

percent to 8.6 percent; i.e., the interval 8.3 + (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.
11

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