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Housing Vacancies and Homeownership (CPS/HVS)
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Fourth Quarter 2000
UNITED STATES DEPARTMENT OF COMMERCE
NEWSWASHINGTON, D.C. 20230
Robert R. Callis For Release 10:00 AM EDT, January 29, 2001 Linda B. Cavanaugh CB01-09
(301) 763-3199CENSUS BUREAU REPORTS ON RESIDENTIAL VACANCIES AND HOMEOWNERSHIP
National vacancy rates in the fourth quarter 2000 were 7.8 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 neither the rental vacancy rate nor the homeowner vacancy rate was significantly different from its corresponding rate in the fourth quarter of 1999 or from the 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..... 1993r.... 1993..... 1992..... 1991..... 1990..... 1989r.... 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 |
8.0
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 |
1.6
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 |
1.5
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.
For rental housing, the vacancy rate was highest outside Metropolitan Areas (MAs), 9.5 percent, and lowest in the suburbs,
7.1 percent. None of the rental vacancy rates for areas changed significantly from their corresponding fourth quarter 1999
rates.
The homeowner vacancy rate was lowest in the suburbs, 1.3 percent. None of the homeowner vacancy rates for areas
changed significantly from their corresponding rates during the fourth quarter 1999.
Among regions, the South, 10.8 percent, had the highest rental vacancy rate. The rental vacancy rate for the West decreased
from 6.1 percent in the fourth quarter 1999 to 5.3 percent in the fourth quarter 2000. The other regions did not change
significantly from their respective rates last year.
The homeowner vacancy rate was highest in the South, 2.2 percent. Both the Northeast, 1.2 percent, and the West, 1.4
percent, showed significant decreases in the homeowner vacancy rates from fourth quarter 1999, while the other regions did
not change significantly since last year.
Table 2. Rental and Homeowner Vacancy Rates By Area:
Fourth Quarter 2000 and 1999 (in percent)
| Rental vacancy rates | Homeowner vacancy rates | |||||||
|
Area |
Fourth
Quarter 2000 |
Fourth
Quarter 1999 |
Standard
error on 2000 rate |
Standard
error on differ- ence |
Fourth
Quarter 2000 |
Fourth
Quarter 1999 |
Standard
error on 2000 rate |
Standard
error on differ- ence |
| United
States........
Inside MAs......... In central cities Not in
central
Outside MAs...... Northeast........... Midwest............. South................. West.................. |
7.8 7.5 7.9
9.5 5.3 8.7 10.8 5.3 |
7.9 7.7 8.2
9.6 5.3 9.0 10.2 6.1 |
0.2
0.2 0.3
0.5 0.4 0.5 0.4 0.3 |
0.3
0.3 0.4
0.7 0.5 0.7 0.5 0.4 |
1.6
1.5 1.9
2.1 1.2 1.3 2.2 1.4 |
1.6
1.5 1.8
2.0 1.5 1.0 2.0 1.8 |
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 0.1 0.1 0.2 |
There were an estimated 120.1 million housing units in the United States in the fourth quarter of 2000. Approximately 106.5 million housing units were occupied, 71.9 million by owners and 34.6 million by renters. The number of owner-occupied units was higher than one year ago, while the number of renter-occupied units did not change significantly from that reported one year ago. Of the 13.7 million vacant housing units, 10.2 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 6.0 million were vacant for a variety of reasons.
Table 3. Estimates of the Total Housing Inventory for the United States:
Fourth Quarter 2000 and 1999
(Numbers in Thousands)
|
Type |
Fourth
Quarter 2000 |
Fourth
Quarter 1999 |
Standard
error on 2000 Estimate |
Standard
error on difference |
Percent of
total (2000) |
| All housing
units............
Occupied......................
Vacant.......................... Seasonal..................... |
120,144
106,493
13,651 3,450 |
118,827
105,286
13,541
3,113 |
233
244
132 69 |
330
345
187 95 |
100
89
11 3 |
During the fourth quarter of 2000, the homeownership rate was 67.5 percent. The homeownership rate was higher than the rate for the fourth quarter of 1999, but was not significantly changed from the rate last quarter.
Table 4. Homeownership Rates for the United States: 1980 to 2000
(in percent)
| Year | Homeownership Rates1 | |||
|
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter | |
|
2000.......................................... 1999.......................................... 1998.......................................... 1997.......................................... 1996.......................................... 1995.......................................... 1994.......................................... 1993r......................................... 1993.......................................... 1992.......................................... 1991.......................................... 1990.......................................... 1989r......................................... 1989......................................... 1988......................................... 1987......................................... 1986......................................... 1985......................................... 1984......................................... 1983......................................... 1982......................................... 1981......................................... 1980......................................... |
67.1 66.7 65.9
65.4
64.2
63.9
64.6 |
67.2 66.6 66.0
65.7
64.4
63.9
64.6 |
67.7 67.0 66.8
66.0
64.7
64.0
64.6 |
67.5 66.9 66.4
65.7
64.6
63.8
64.1 |
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.) The seasonally adjusted fourth quarter homeownership rate, 67.6 percent, was higher than the rate for the fourth quarter of 1999, but was not significantly different from the rate last quarter.
Table 4SA. Homeownership Rates for the United States: 1980 to 2000
Seasonally Adjusted(in percent)
| Year | Homeownership Rates2 (Seasonally Adjusted) | |||
|
First
Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter | |
| 2000.......................................... 1999.......................................... 1998..........................................
1997..........................................
1993..........................................
1989.........................................
1984......................................... |
67.1 66.8 66.0
65.5
(NA)
(NA)
64.6 |
67.3 66.7 66.1
r65.7
(NA)
(NA)
64.6 |
67.5 66.8 66.6
65.8
(NA)
(NA)
64.5 |
67.6 67.0 66.5
r65.8
(NA)
(NA)
64.2 |
(NA) Not Applicable, only the revised series for 1989 and 1993 were used in calculating the seasonality adjustment.
rRevised.
Homeownership rates in the fourth quarter of 2000 were highest in the Midwest at 73.1 percent and lowest in the West at 61.6 percent. Both the South, 69.8 percent, and the West, 61.6 percent, showed significant increases in their respective homeownership rates from those shown in the fourth quarter 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 Fourth Quarter.............. Third Quarter................ Second Quarter............. First Quarter................. 1999 1998 1997 1996 |
|
|
|
|
|
Homeownership rates by age of householder increased from their respective rates one year ago for householders under 35 years old, householders 45 to 54 years old, and householders 65 years and over. The rate for the group 55 to 64 years old decreased, while the rate for those 35 to 44 years old did not change significantly during the same period.
Table 6. Homeownership Rates by Age of Householder: 1996 to 2000
(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 | |
|
2000 Fourth Quarter...... Third Quarter........ Second Quarter..... First Quarter.........
1999
1998
1997
1996 |
|
|
|
|
|
|
The homeownership rates by race and ethnicity of householder ranged from 47.5 percent for Hispanic householders to 73.9 percent for White non-Hispanic householders. The homeownership rates for White householders, 71.2 percent, White non-Hispanic householders, 73.9 percent, and Hispanic householders, 47.5 percent, were higher than the respective rates for the fourth quarter 1999. The rates for Black householders and Other Race householders showed no significant change from one year ago.
Table 7. Homeownership Rates by Race and Ethnicity of Householder: 1996 to 2000
(in percent)
| Year/Quarter | Homeownership Rates5 | |||||
|
U.S. Total |
White, |
White, |
Black, |
Other |
Hispanic6, | |
| 2000 Fourth Quarter....... Third Quarter......... Second Quarter...... First Quarter...........
1999
1998
1997
1996 |
67.5 67.7 67.2 67.1
|
71.2 71.5 70.9 70.7
|
73.9 74.3 73.7 73.4
|
47.8 46.8 46.7 47.4
|
52.4 53.9 54.4 53.6
|
47.5 46.7 45.4 45.7
|
6Hispanics may be of any race.
Both the homeownership rates for households with incomes greater than or equal to the median family income and for households with incomes less than the median family income were statistically unchanged from the fourth quarter 1999 rate.
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 Fourth Quarter............. Third Quarter............... Second Quarter............ First Quarter................
1999
1998
1997
1996 |
|
81.6 81.7 81.8 81.4
|
51.8 52.2 50.8 51.4
|
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 7.8 percent is 0.2 percentage points. Consequently, the 90-percent confidence interval as shown by these data is from 7.5 percent to 8.1 percent; i.e., the interval 7.8 + (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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