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Housing Vacancies and Homeownership (CPS/HVS)
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First Quarter 1999
UNITED STATES DEPARTMENT OF COMMERCENEWS
WASHINGTON, D.C. 20230
Robert R. Callis For Release 10:00 AM EDT, April 21, 1999 Linda B. Cavanaugh CB99-67 (301) 763-3199CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND HOMEOWNERSHIP
(The numbers in parentheses denote the 90-percent confidence intervals.)National vacancy rates in the first quarter 1999 were 8.2 (+ 0.3) percent in rental housing and 1.8 (+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 higher than the rate in the first quarter of 1998, but not significantly different from the rate last quarter. The homeowner vacancy rate showed no significant change from the rate last quarter, or from the rate in the first quarter of 1998.
Table 1. Rental and Homeowner Vacancy Rates for the United States: 1982 to 1999 (in percent)
|
Rental vacancy rate |
Homeowner vacancy rate | |||||||
|
Year |
First Quarter |
Second Quarter |
Third Quarter |
First Quarter |
First Quarter |
Second Quarter |
Third Quarter |
First Quarter |
| 1999..... 1998..... 1997..... 1996..... 1995..... 1994..... 1993r.... 1993..... 1992..... 1991..... 1990..... 1989r.... 1989..... 1988..... 1987..... 1986..... 1985..... 1984..... 1983..... 1982..... |
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 |
8.0 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 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 7.7 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 |
1.8 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 |
1.7 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 |
1.7 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 |
1.8 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 |
For rental housing, the vacancy rates in central cities and outside Metropolitan Areas (MAs), 8.4 and 9.0 percent respectively were higher than in the suburbs, 7.6 percent (the 8.4 and 9.0 were not significantly different from each other). 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 rates in central cities and outside MAs, 2.1 percent and 2.0 percent respectively, were higher than in the suburbs, 1.6 percent (the 2.1 and 2.0 were not significantly different from each other). The homeowner vacancy rates outside MAs, in central cities and in the suburbs were not significantly different from one year ago.
Among regions, the rental vacancy rate was highest in the South at 10.4 percent. This rental vacancy rate was higher than the rate last quarter and the rate last year. The vacancy rates in the other regions did not change significantly.
The homeowner vacancy rate was highest in the South at 2.4 percent. This rate was higher than the rate one year ago and also higher than the rate last quarter. The rate in the Northeast was lower than the rate in the first quarter of 1998.
Table 2. Rental and Homeowner Vacancy Rates By Area:
First Quarter 1999 and 1998 (in percent)
| Rental vacancy rates | Homeowner vacancy rates | |||||||
| Area |
First Quarter 1999 |
First Quarter 1998 |
Standard error on 1999 rate |
Standard error on differ- ence |
First Quarter 1999 |
First Quarter 1998 |
Standard error on 1999 rate |
Standard error on differ- ence |
|
United States........ Inside MAs......... In central cities Not in central cities (suburbs) Outside MAs...... Northeast........... Midwest............. South................. West.................. |
8.2 8.0 8.4 7.6 9.0 6.5 8.4 10.4 6.3 |
7.7 7.5 8.0 7.0 8.8 6.3 7.7 9.2 7.0 |
0.2 0.2 0.3 0.3 0.5 0.4 0.4 0.4 0.3 |
0.3
0.3 0.4 0.4 0.7 0.6 0.6 0.5 0.5 |
1.8
1.8 2.1 1.6 2.0 1.4 1.4 2.4 1.8 |
1.7
1.7 1.9 1.9 1.8 1.3 2.1 1.5 |
0.1
0.1 0.1 0.1 0.1 0.1 0.1 0.1 |
0.1
0.1 0.2 0.2 0.2 0.2 0.2 0.2 |
There were an estimated 118.4 million housing units in the United States in the first quarter of 1999. Approximately 104.5 million housing units were occupied, 69.6 million by owners and 34.8 million by renters. The number of owner-occupied units was higher than one year ago, while there was no significant change in renter-occupied units from one year ago. Of the 14.0 million vacant housing units, 10.9 million were for year-round use. Approximately 3.1 million of the year-round vacant units were for-rent, 1.3 million were for- sale-only, and the remaining 6.5 million were vacant for a variety of reasons.
Table 3. Estimates of the Total Housing Inventory for the United States:
First Quarter 1999 and 1998
(Numbers in Thousands)
| Type |
First Quarter 1999 |
First Quarter 1998 |
Standard error on 1999 Estimate |
Standard error on difference |
Percent of total (1999) |
| All housing units............ Occupied...................... Owner........................ Renter........................ Vacant.......................... Year-round................. For rent................... For sale only............ Other....................... Seasonal..................... |
118,445 104,461 69,638 34,823 13,984 10,897 3,132 1,296 6,469 3,087 |
116,770 103,086 67,963 35,123 13,684 10,370 2,975 1,202 6,193 3,314 |
234 245 243 197 134 119 65 42 93 65 |
333 346 342 279 188 167 91 59 130 93 |
100 88 59 29 12 9 3 1 5 3 |
During the first quarter of 1999, the homeownership rate was 66.7 (+0.3) percent. The homeownership rate was higher than the rate for the first quarter of 1998, but not significantly different from the rate last quarter. This was the highest first quarter rate ever recorded in the survey.
Table 4. Homeownership Rates for the United States: 1980 to 1999
(in percent)
| Year | Homeownership Rates1 | |||
|
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter | |
| 1999..........................................
1998.......................................... 1997.......................................... 1996.......................................... 1995.......................................... 1994.......................................... 1993r......................................... 1993.......................................... 1992.......................................... 1991.......................................... 1990.......................................... 1989r......................................... 1989......................................... 1988......................................... 1987......................................... 1986......................................... 1985......................................... 1984......................................... 1983......................................... 1982......................................... 1981......................................... 1980......................................... |
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 |
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 |
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 |
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 |
rRevised
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 for the United States. The seasonally adjusted first quarter homeownership rate was higher than the rate for the first quarter of 1998, but not significantly different from the rate last quarter.
Table 4SA. Homeownership Rates for the United States:
1980 to 1999
Seasonally Adjusted (in percent)
| Year | Homeownership Rates1 (Seasonally Adjusted) | |||
|
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter | |
| 1999..........................................
1998.......................................... 1997.......................................... 1996.......................................... 1995.......................................... 1994.......................................... 1993r......................................... 1993.......................................... 1992.......................................... 1991.......................................... 1990.......................................... 1989r......................................... 1989......................................... 1988......................................... 1987......................................... 1986......................................... 1985......................................... 1984......................................... 1983......................................... 1982......................................... 1981......................................... 1980......................................... |
66.8
66.0 r65.5 65.3 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 |
66.0 65.7 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 |
r66.6 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 |
66.5 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 |
1Standard errors for quarterly homeownership rates
for the United States generally are 0.2 percent.
rRevised.
(NA) Not Applicable. Only the revised series for 1989 and 1993
were used in calculating the seasonality adjustment.
Homeownership rates in the first quarter of 1999 were highest in the Midwest at 71.2 percent and lowest in the West at 61.0 percent. The homeownership rates for the South and West regions were higher than the respective first quarter 1998 rates, while rates in the Northeast and Midwest did not change significantly.
Table 5. Homeownership Rates for the United States and Regions:
1995 to 1999 (in percent)
|
Homeownership Rates2 | |||||
| Year/Quarter |
United States |
Northeast | Midwest | South | West |
| 1999 First Quarter................. 1998 Third Quarter................ Second Quarter............. First Quarter.................. |
66.7 66.4 66.8 66.0 65.9 |
62.7 62.0 63.4 62.7 62.4 |
71.2 71.5 71.7 70.3 70.6 |
69.2 69.0 68.8 68.4 68.2 |
61.0 60.4 61.1 60.3 60.1 |
| 1997 Fourth Quarter.............. Third Quarter................ Second Quarter............. First Quarter.................. 1996 Third Quarter................ Second Quarter............. First Quarter.................. 1995 Third Quarter................ Second Quarter............. First Quarter.................. |
65.7 66.0 65.7 65.4 65.4 65.6 65.4 65.1 65.1 65.0 64.7 64.2 |
62.7 63.0 62.4 61.6 62.3 62.8 62.3 61.4 61.6 62.2 62.3 61.9 |
70.4 70.7 70.3 70.6 70.8 70.7 70.5 70.4 70.1 70.1 68.5 67.9 |
67.8 68.2 68.1 67.8 67.6 67.5 67.2 67.5 67.5 66.6 66.5 66.1 |
59.8 59.8 59.9 59.0 58.9 59.2 59.8 58.9 59.0 59.1 59.8 58.9 |
Homeownership rates by age of householder ranged from 39.4 percent for householders less than 35 years old to 81.1 percent for householders 55 to 64 years old in the first quarter of 1999. The rate for householders 35 to 44 years of age was higher than the first quarter 1998 rate, while rates for other age categories showed no significant change.
Table 6. Homeownership Rates by Age of Householder:
1995 to 1999
(in percent)
| Year/Quarter | Homeownership Rates3 | |||||
| United States |
Less than 35 years |
35 to 44 years |
45 to 54 years |
55 to 64 years |
65 years and over | |
| 1999 First Quarter......... 1998 Third Quarter........ Second Quarter..... First Quarter......... |
66.7 66.4 66.8 66.0 65.9 |
39.4 39.6 39.5 39.3 39.0 |
67.0 67.6 67.8 66.2 65.9 |
76.2 74.9 76.3 75.5 75.9 |
81.1 81.7 81.1 80.4 80.3 |
79.8 79.2 79.7 79.2 79.1 |
| 1997 Fourth Quarter...... Third Quarter........ Second Quarter..... First Quarter......... 1996 Third Quarter........ Second Quarter..... First Quarter......... 1995 Third Quarter........ Second Quarter..... First Quarter......... |
65.7 66.0 65.7 65.4 65.4 65.6 65.4 65.1 65.1 65.0 64.7 64.2 |
38.7 38.9 38.6 38.6 39.1 39.0 39.3 38.8 39.1 39.1 38.7 37.7 |
65.9 66.5 66.3 65.5 65.5 66.3 65.5 64.6 65.5 65.4 65.1 64.9 |
75.7 76.3 75.6 75.5 75.6 75.9 75.5 75.5 75.2 75.4 75.2 74.9 |
80.3 80.1 80.3 79.6 80.1 79.7 80.0 80.2 79.5 79.3 79.9 79.4 |
79.1 79.2 79.1 79.2 79.2 78.6 78.9 79.1 78.7 78.1 78.1 77.5 |
3Standard errors for quarterly homeownership rates by age of householder generally are 0.4 percent.
The homeownership rate remained highest for White non-Hispanic householders at 72.8 percent. The rates for homeownership by race or ethnicity for White, White non-Hispanic and Hispanic householders increased significantly from the first quarter 1998 rates, while rates for Black and Other race householders showed no significant change.
Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1995 to 1999
(in percent)
|
|
U.S. Total |
White, |
non- Hispanic |
total |
Other |
total |
| 1999 First Quarter.......... 1998 Third Quarter......... Second Quarter...... First Quarter.......... 1997 Third Quarter......... Second Quarter...... First Quarter.......... 1996 Third Quarter......... Second Quarter...... First Quarter.......... 1995 Third Quarter......... Second Quarter...... First Quarter.......... |
66.7 66.4 66.8 66.0 65.9 65.7 66.0 65.7 65.4 65.4 65.6 65.4 65.1 65.1 65.0 64.7 64.2 |
70.3 70.1
70.4 69.7 69.6 69.3 69.5 69.4 69.0 69.1 69.2 69.2 68.7 68.8 69.0 68.7 68.2 |
72.8 72.6 73.1 72.5 72.1 71.9 72.3 72.1 71.6 71.8 71.8 71.7 71.4 71.2 71.1 70.9 70.4 |
46.3 45.9 46.6 44.7 45.2 45.1 45.3 44.4 44.5 44.4 44.5 43.7 43.8 44.3 43.0 42.2 41.2 |
52.8 52.7 53.6 53.5 52.3 52.5 53.1 52.7 51.8 51.4 51.5 50.0 50.9 48.4 46.5 46.7 47.2 |
46.2 45.7 44.9 43.9 44.4 44.0 43.0 43.3 42.6 42.3 43.5 43.9 41.4 41.1 42.5 42.8 41.8 |
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 percent for Black householders, 1.0 percent for Other Race householders, and 0.7 percent for Hispanic householders.
5Hispanics may be of any race.
The homeownership rate for households with incomes less than the median family income in the first quarter of 1999 was 51.2 percent, which was higher than the rate one year ago. The rate for households with incomes greater than or equal to the median family income, at 81.1 percent, was not significantly different from the first quarter 1998 rate.
Table 8. Homeownership Rates by Family Income: 1995 to 1999 (in percent)
|
Homeownership Rates6 | |||
| Year/Quarter | United States | Households with family income greater than or equal to the median family income7 | Households with family income less than the median family income |
|
1999 First Quarter................ 1998 Third Quarter............... Second Quarter............ First Quarter................. |
66.7 66.4 66.8 66.0 65.9 |
81.1 80.7 81.6 80.7 80.7 |
51.2 51.1 51.1 50.0 50.2 |
| 1997 Fourth Quarter.............. Third Quarter................ Second Quarter............. First Quarter.................. 1996 Third Quarter................ Second Quarter............. First Quarter.................. 1995 Third Quarter................ Second Quarter............. First Quarter.................. |
65.7 66.0 65.7 65.4 65.4 65.6 65.4 65.1 65.1 65.0 64.7 64.2 |
80.5 80.9 80.8 79.7 80.1 80.5 80.3 79.7 79.8 79.6 79.5 79.1 |
50.0 50.2 50.0 49.9 49.8 49.4 49.2 49.4 49.4 49.0 48.6 48.1 |
6Standard errors for quarterly homeownership rates by family income generally are 0.3 percent.
7Based 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: https://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 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 8.2 percent is 0.2 percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 7.9 to 8.5; i.e., the interval 8.2 + (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.
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