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This report presents data on how soon privately financed, nonsubsidized, unfurnished units in buildings with five or more units were rented (absorbed) in the first quarter of 2016 for units that were completed in the fourth quarter 2015.1 The data are based on information collected in the Survey of Market Absorption of Multifamily Units (SOMA), which has been measuring market absorption for over forty years.

The estimates in this report are based on a survey conducted by the U.S. Census Bureau, U.S. Department of Commerce, for the Department of Housing and Urban Development. The sample consists of 3,900 buildings with five or more housing units. As with all surveys, estimates vary from actual values because of sampling variations or other factors.