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Census Bureau Reports on Residential Vacancies and Homeownership05-04-09 | News

Census Bureau Reports on Residential Vacancies and Homeownership

The homeowner vacancy rate in principal cities (3.4 percent) was higher than in the suburbs (2.6 percent) and outside MSA?EUR??,,????'???s (2.3 percent). - Courtesy of www.cnbc.com

National vacancy rates in the first quarter 2009 were 10.1 (+ 0.4) percent for rental housing and 2.7 (+ 0.1) percent for homeowner housing, the Department of Commerce?EUR??,,????'???s Census Bureau announced. The Census Bureau said the rental vacancy rate was not statistically different from the first quarter 2008 rate or the rate last quarter (10.1 percent each). For homeowner vacancies, the current rate was lower than the first quarter 2008 rate, but not statistically different from the rate last quarter (2.9 percent each). The homeownership rate at 67.3 (+ 0.5) percent for the current quarter was lower than the first quarter 2008 rate (67.8 percent), but not statistically different from last quarter?EUR??,,????'???s rate (67.5 percent).

For rental housing by area, the first quarter 2009 vacancy rates inside principal cities (10.6 percent) was higher than in the suburbs (9.5 percent), but not statistically different from outside Metropolitan Statistical Areas (MSA?EUR??,,????'???s), 9.8 percent. The rate outside MSA?EUR??,,????'???s was not statistically different from the rate in the suburbs. The rental vacancy rate inside principal cities was higher than the corresponding rate one year ago, while the rate in the suburbs was lower. The rate outside MA?EUR??,,????'???s showed no statistical change from the first quarter 2008 rate.

Among regions, the rental vacancy rate was highest in the South (12.9 percent) and lowest in the Northeast (6.9 percent). When compared to first quarter 2008, the rental vacancy rate was higher in the West and lower in the Midwest. Rates for the Northeast and the South were not statistically different from their respective rates a year ago.

The regional homeowner vacancy rate for first quarter 2009 was lowest in the Northeast (1.9 percent). The rates in the Midwest (2.7 percent), the South (3.0 percent), and the West (2.9 percent) were not statistically different from each other. Homeowner vacancy rates by region were not significantly different from their respective rates last year. ?EUR??,,????'??? Courtesy of U.S. Census Bureau