Housing Vacancies and Homeownership (CPS/HVS)

First Quarter 2000

UNITED STATES DEPARTMENT OF COMMERCE
NEWS

WASHINGTON, D.C. 20230

Robert R. Callis For Release 10:00 AM EDT, April 26, 2000 Linda B. Cavanaugh CB00-61 (301) 763-3199

CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND HOMEOWNERSHIP

     National vacancy rates in the first quarter 2000 were 7.9 percent in rental
housing and 1.6 percent in homeowner housing, the Department of Commerce's Census
Bureau announced today.  The Census Bureau said that while the homeowner vacancy
rate was lower than its corresponding rate in the first quarter of 1999, the
rental vacancy rate did not change significantly.  Neither rate was significantly
different from its corresponding rate last quarter.

Table 1. Rental and Homeowner Vacancy Rates for the United States: 1982 to 2000 (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

2000..... 1999..... 1998..... 1997..... 1996..... 1995..... 1994..... 1993^r.... 1993..... 1992..... 1991..... 1990..... 1989^r.... 1989..... 1988..... 1987..... 1986..... 1985..... 1984..... 1983..... 1982.....	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	8.1 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 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	7.9 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	1.6 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	1.6 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 1.7 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 1.8 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.

     For rental housing, the vacancy rates were highest outside Metropolitan
Areas (MAs), 9.1 percent and lowest in the suburbs, 7.1 percent.  The rental
vacancy rates in all areas were not significantly different from their
respective first quarter 1999 rates.

     The homeowner vacancy rate in the suburbs, 1.3 percent, was lower than
the respective rate for the first quarter of 1999, while rates in the central
cities and outside MAs did not change significantly.

     Among regions, the rental vacancy rate was highest in the South at 10.2
percent.  The rate in the Northeast, 5.6 percent, decreased from that reported
in the first quarter of 1999.  The rates in other regions did not change
significantly from their respective rates last year.

     The homeowner vacancy rate for the South, 1.8 percent, was lower than the
corresponding rate for the first quarter of 1999.  The other regions did not
change significantly from their respective rates last year.

Table 2. Rental and Homeowner Vacancy Rates By Area:
First Quarter 2000 and 1999 (in percent)

	Rental vacancy rates				Homeowner vacancy rates
Area	First Quarter 2000	First Quarter 1999	Standard error on 2000 rate	Standard error on differ- ence	First Quarter 2000	First Quarter 1999	Standard error on 2000 rate	Standard error on differ- ence

United States........ Inside MAs......... In central cities Not in central cities (suburbs) Outside MAs...... Northeast........... Midwest............. South................. West..................	7.9 7.7 8.1 7.1 9.1 5.6 8.5 10.2 6.0	8.2 8.0 8.4 7.6 9.0 6.5 8.4 10.4 6.3	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 0.5 0.6 0.5 0.5	1.6 1.5 2.0 1.3 1.9 1.2 1.4 1.8 1.8	1.8 1.8 2.1 1.6 2.0 1.4 1.4 2.4 1.8	0.1 0.1 0.1 0.1 0.1 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

     There were an estimated 119.1 million housing units in the United
States in the first quarter of 2000.  Approximately 105.3 million housing units
were occupied, 70.7 million by owners and 34.6 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 13.8
million vacant housing units, 10.3 million were for year-round use.
Approximately 3.0 million of the year-round vacant units were for-rent, 1.2
million were for-sale-only, and the remaining 6.2 million were vacant for a
variety of reasons.

Table 3. Estimates of the Total Housing Inventory for the United States:
First Quarter 2000 and 1999
(Numbers in Thousands)

Type

First
Quarter
2000

First
Quarter
1999

Standard
error on
2000
Estimate

Standard
error on
difference

Percent of
total
(2000)

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

Occupied......................
Owner........................
Renter........................

Vacant..........................
Year-round.................
For rent...................
For sale only............
Other.......................

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

119,105

105,293
70,701
34,592

13,812
10,306
2,989
1,161
6,156

3,506

118,445

104,461
69,638
34,823

13,984
10,897
3,132
1,296
6,469

3,087

234

244
243
197

133
116
64
40
91

69

331

346
344
279

189
166
91
58
130

95

100

88
59
29

12
9
3
1
5

3

     During the first quarter of 2000, the homeownership rate was 67.1
percent.  The homeownership rate was higher than the rate for the first
quarter of 1999, but was not significantly different from the rate last
quarter.

Table 4. Homeownership Rates for the United States: 1980 to 2000
(in percent)

Year	Homeownership Rates¹
Year	First Quarter	Third Quarter	Third Quarter	Fourth Quarter

2000.......................................... 1999.......................................... 1998.......................................... 1997.......................................... 1996.......................................... 1995.......................................... 1994.......................................... 1993^r......................................... 1993.......................................... 1992.......................................... 1991.......................................... 1990.......................................... 1989^r......................................... 1989......................................... 1988......................................... 1987......................................... 1986......................................... 1985......................................... 1984......................................... 1983......................................... 1982......................................... 1981......................................... 1980.........................................	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	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	67.0 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	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

¹Standard errors for quarterly homeownership rates for the United States generally are 0.2 percent.

     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
first quarter homeownership rate, 67.1 percent, was not significantly
different from the rate for the first quarter of 1999, nor from the rate
last quarter.

Table 4SA. Homeownership Rates for the United States: 1980 to 2000
Seasonally Adjusted (in percent)

Year	Homeownership Rates^r (Seasonally Adjusted)
Year	First Quarter	Third Quarter	Third Quarter	Fourth Quarter

2000.......................................... 1999.......................................... 1998.......................................... 1997.......................................... 1996.......................................... 1995.......................................... 1994.......................................... 1993^r......................................... 1993.......................................... 1992.......................................... 1991.......................................... 1990.......................................... 1989^r......................................... 1989......................................... 1988......................................... 1987......................................... 1986......................................... 1985......................................... 1984......................................... 1983......................................... 1982......................................... 1981......................................... 1980.........................................	67.1 ^r66.7 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	66.7 66.1 ^r65.7 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	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	67.0 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

^rStandard 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 2000 were highest
in the Midwest at 72.2 percent and lowest in the West at 61.3 percent.
Only the rate for the Midwest was significantly higher than the 1999 rate
for the first quarter.  None of the homeownership rates changed
significantly from the rates shown in the fourth quarter of 1999.

Table 5. Homeownership Rates for the United States and Regions:
1996 to 2000 (in percent)

Homeownership Rates³

Year/Quarter

United
States

Northeast

Midwest

South

West

2000
First Quarter...............

1999
Fourth Quarter...............

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

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

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

1998
Fourth Quarter..............

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

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

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

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

63.3

63.2

63.6

62.8

62.7

62.0

63.4

62.7

62.4

72.2

72.5

72.1

71.2

71.5

71.7

70.3

70.6

69.5

69.1

69.3

68.9

69.2

69.0

68.8

68.4

68.2

61.3

60.6

60.8

61.3

61.0

60.4

61.1

60.3

60.1

1997
Fourth Quarter..............

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

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

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

1996
Fourth Quarter..............

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

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

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

1995
Fourth Quarter..............

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

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

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

65.7

66.0

65.7

65.4

65.6

65.4

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

68.5

67.9

67.8

68.2

68.1

67.8

67.6

67.5

67.2

67.5

66.6

66.5

66.1

59.8

59.9

59.0

58.9

59.2

59.8

58.9

59.0

59.1

59.8

58.9

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

     Homeownership rates by age of householder ranged from 40.5
percent for householders less than 35 years old to 80.8 percent for
householders 55 to 64 years old in the first quarter of 2000.  The
rate for householders less than 35 years old was higher than the
corresponding rate reported during the first quarter of 1999, while
the rates for the other age groups were not significantly different.

Table 6. Homeownership Rates by Age of Householder: 1996 to 2000
(in percent)

Year/Quarter

Homeownership Rates⁴

United
States

Less than
35 years

35 to 44
years

45 to 54
years

55 to 64
years

65 years
and over

2000
First Quarter.......

1999
Fourth Quarter.......

Third Quarter........

Second Quarter........

First Quarter.........

1998
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

40.5

40.3

40.1

39.1

39.4

39.6

39.5

39.3

39.0

67.3

67.9

67.4

66.5

67.0

67.6

67.8

66.2

65.9

76.0

75.2

76.3

76.4

76.2

74.9

76.3

75.5

75.9

80.8

81.3

80.7

80.8

81.1

81.7

81.1

80.4

80.3

80.1

79.6

80.8

80.4

79.8

79.2

79.7

79.2

79.1

1997
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1996
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

1995
Fourth Quarter......

Third Quarter........

Second Quarter.....

First Quarter.........

65.7

66.0

65.7

65.4

65.6

65.4

65.1

65.0

64.7

64.2

38.7

38.9

38.6

39.1

39.0

39.3

38.8

39.1

38.7

37.7

65.9

66.5

66.3

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

75.2

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

78.6

78.9

79.1

78.7

78.1

77.5

⁴Standard errors for quarterly homeownership rates by age of householder generally are 0.4 percent.

     The homeownership rates by race and ethnicity of householder
ranged from 45.7 percent for Hispanic householders to 73.4 percent for
White non-Hispanic householders.  Only the rate for White non-Hispanic
householders was higher than the respective rate for the first quarter
of 1999.

Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1996 to 2000
(in percent)

Year/Quarter

Homeownership Rates⁵

U.S. Total

White,
total

White,
non-
Hispanic

Black,
total

Other
Race,
total

Hispanic⁶,
total

2000
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..........

1996
Fourth Quarter.......

Third Quarter.........

Second Quarter......

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

1995
Fourth Quarter.......

Third Quarter.........

Second Quarter......

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

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

65.4

65.6

65.4

65.1

65.1

65.0

64.7

64.2

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

69.1

69.2

69.2

68.7

68.8

69.0

68.7

68.2

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

71.8

71.8

71.7

71.4

71.2

71.1

70.9

70.4

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

44.4

44.5

43.7

43.8

44.3

43.0

42.2

41.2

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

51.4

51.5

50.0

50.9

48.4

46.5

46.7

47.2

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

42.3

43.5

43.9

41.4

41.1

42.5

42.8

41.8

⁵Standard 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.

     The homeownership rate for households with incomes less than
the median family income in the first quarter of 2000 was 51.4 percent,
while the rate for households with incomes greater than or equal to the
median family income was 81.4 percent.  Both rates were statistically
unchanged from the corresponding first quarter 1999 rates.

Table 8. Homeownership Rates by Family Income: 1996 to 2000(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

2000
First Quarter................

1999
Fourth Quarter................

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

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

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

1998
Fourth Quarter.............

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

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

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

67.1

66.9

67.0

66.6

66.7

66.4

66.8

66.0

65.9

81.4

81.6

81.7

81.5

81.1

80.7

81.6

80.7

51.4

51.2

51.4

50.8

51.2

51.1

50.0

50.2

1997
Fourth Quarter..............

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

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

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

1996
Fourth Quarter..............

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

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

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

1995
Fourth Quarter..............

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

⁷Standard errors for quarterly homeownership rates by family income generally are 0.3 percent.

⁸Based 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: 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 7.9 percent is 0.2 percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 7.6 to 8.2 percent; i.e., the interval 7.9 + (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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