QUARTERLY RESIDENTIAL VACANCIES AND

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FOR RELEASE AT 10:00 AM EST, Tuesday, July 27, 2021QUARTERLY RESIDENTIAL VACANCIES AND HOMEOWNERSHIP,SECOND QUARTER 2021Release Number: CB21-108Announcement: Due to the coronavirus pandemic (COVID-19), data collection operations for the CPS/HVS wereslightly affected during the second quarter of 2021, though to a much lesser extent than last year, as in-personinterviews were allowed for 99 percent of the country. The remaining interviews were conducted over thetelephone. If the Field Representative was unable to get contact information on the sample unit, the unit wasmade a Type A noninterview (no one home, refusal, etc). We are unable to determine the extent to which thisdata collection change affected our estimates. See the FAQ for more information.July 27, 2021 — The U.S. Census Bureau announced the following residential vacancies and homeownershipstatistics for the second quarter 2021.:Rental Vacancy Rate6.2%Homeowner Vacancy Rate0.9%Homeownership Rate65.4%Next release: October 26, 2021Data are not adjusted for seasonality.Source: U.S. Census Bureau,Current Population Survey/Housing Vacancy Survey, July 27, 2021Figure 11211Quarterly Rental and Homeowner Vacancy Rates for the United States: 1998-2021Rental Vacancy RateRecession109PercentRESIDENTIAL VACANCIESAND HOMEOWNERSHIPSECOND QUARTER 2021876543Homeowner Vacancy Rate21019982003200820132018Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021Recession data: National Bureau of Economic Research, www.nber.org 2021National vacancy rates in the second quarter 2021 were 6.2 percent for rental housing and 0.9 percent forhomeowner housing. The rental vacancy rate was 0.5 percentage points higher than the rate in the secondquarter 2020 (5.7 percent) and 0.6 percentage points lower than the rate in the first quarter 2021 (6.8percent). The homeowner vacancy rate of 0.9 percent was virtually the same as the rate in the second quarter2020 (0.9 percent) and virtually the same as the rate in the first quarter 2021 (0.9 percent).The homeownership rate of 65.4 percent was 2.5 percentage points lower than the rate in the second quarter2020 (67.9 percent) and not statistically different from the rate in the first quarter 2021 (65.6 percent). Datausers should see the FAQ regarding statistical comparisons to quarters affected by the COVID-19 pandemic.Table 1. Rental and Homeowner Vacancy Rates for the United States: 2018 to 2021Rental Vacancy Rate (percent)Homeowner Vacancy Rate 2021 6.86.20.90.92020 6.65.76.46.51.10.90.92019 7.06.86.86.41.41.31.42018 7.06.87.16.61.51.51.6FourthQuarterAll comparative statements in this report have undergone statistical testing, and unless otherwise noted, all comparisons are statistically significant at the 90 percentsignificance level. For an explanation of how the rates are calculated, please see the Explanatory Notes at the end of the press release.Explanations of confidence intervals and sampling variability can be found on the CPS/HVS website at: www.census.gov/housing/hvs Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.Data InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.gov1.01.41.5Media InquiriesPublic Information Office301-763-3030pio@census.gov

In the second quarter 2021, the median asking rent for vacant for rent units was 1,228.Figure 2Median Asking Rent for Vacant for Rent Units: 1997-2021(Current Dollars)Dollars ( 00.0500.0400.01997200120052009201320172021Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021Recession data: National Bureau of Economic Research, www.nber.org In the second quarter 2021, the median asking sales price for vacant for sale units was 238,600.Median Asking Sales Price for Vacant for Sale Units: 1997-2021Figure 3(Current Dollars)Dollars ( 00100,00075,00050,00019972001200520092013Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey July 27, 2021Recession data: National Bureau of Economic Research, www.nber.org 201720211. Median asking rent and median asking sales price data for vacant units can be found in Historical Table 11A/B at www.census.gov/housing/hvs/data/histtabs 2. The data in figures 2 and 3 are not adjusted for price changes.Data InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

The rental vacancy rate outside MSAs (6.9 percent) was higher than the rate in the suburbs (5.4 percent). Therate in principal cities (6.7 percent) was also higher than the rate in the suburbs. The rate in principal citieswas not statistically different from the rate outside MSAs. The rate in principal cities was higher than thesecond quarter 2020 rate, the rate outside MSAs was lower than the second quarter 2020 rate, but the rate inthe suburbs was not statistically different from the second quarter 2020 rate.The homeowner vacancy rate in principal cities (1.1 percent) was higher than the rate in the suburbs (0.8percent) but not statistically different from the rate outside MSAs (0.9 percent). The rate outside MSAs wasnot statistically different from the rate in the suburbs. The rates in all areas were not statistically differentfrom the second quarter 2020 rates.The rental vacancy rate was lowest in the West (4.8 percent), followed by the Northeast (5.6 percent). Therates were highest in the South (6.9 percent) and Midwest (7.3), and these two regions were not statisticallydifferent from each other. The rates in the Northeast and West were higher than their second quarter 2020rates. The rates in the Midwest and South were not statistically different from the second quarter 2020 rates.The homeowner vacancy rate in the South (1.0 percent) was higher than the rate in the Midwest (0.7 percent).The rate in the Midwest is also lower than the rate in the Northeast (0.9 percent). The rate in the West was 0.8percent. There were no other statistically significant differences between the regions. The rates in all regionswere not statistically different from the second quarter 2020 rates.Table 2. Rental and Homeowner Vacancy Rates by Area and Region: Second Quarter 2020 and 2021Rental Vacancy Rates (percent)Homeowner Vacancy Rates (percent)Area/RegionUnited States. . .Inside MetropolitanStatistical Areas. .In principal cities . .Not in principal.cities (suburbs) .Outside MetropolitanStatistical Areas .Northeast. .Midwest. . .South. West. Margins of ErroraSecondQuarter2020SecondQuarter2021of2021 rate5.76.25.45.6Margins of 21of2021 .10.10.10.20.20.20.2A margin of error is a measure of an estimate’s reliability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval.aData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

Approximately 89.0 percent of the housing units in the United States in the second quarter 2021 wereoccupied and 11.0 percent were vacant. Owner-occupied housing units made up 58.2 percent of total housingunits, while renter-occupied units made up 30.8 percent of the inventory in the second quarter 2021. Vacantyear-round units comprised 8.3 percent of total housing units, while 2.7 percent were vacant for seasonal use.Approximately 2.1 percent of the total units were vacant for rent, 0.5 percent were vacant for sale only and0.8 percent were rented or sold but not yet occupied. Vacant units that were held off market comprised 5.0percent of the total housing stock – 1.4 percent were for occasional use, 0.8 percent were temporarilyoccupied by persons with usual residence elsewhere (URE) and 2.8 percent were vacant for a variety of otherreasons.Table 3. Estimates of the Total Housing Inventory for the United States: Second Quarter 2020 and 2021a(Estimates are in thousands, estimates may not add to total due to rounding)Margins of ErrorbTypeSecondQuarter2020 (r)SecondQuarter2021DifferenceBetweenEstimatesof 2021estimateofdifferencePercent oftotal(2021)All housing units.140,572141,7941,222(X)(X)100.0.Occupied. .Owner. -3,471292625649357431865777389.058.230.8.Vacant. .Year-round. .For rent. .For sale only. .Rented or Sold .Held off Market . .For Occ’l Use . .Temp Occ by URE . .Otherc . . .Seasonal .01.40.82.82.7The housing inventory estimates are benchmarked to the 2010 Census.A margin of error is a measure of an estimate’s reliability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval.cA detailed breakdown of the ‘other’ vacant category can be found in Historical Table 18 www.census.gov/housing/hvs/data/histtabs (r) Revised using vintage 2020 housing unit controls. See note below.X Not Applicable. Since the number of housing units is set equal to an independent national measure, there is no sampling error, and hence no confidence interval.1. Since first quarter 2003, the Current Population Survey/Housing Vacancy Survey estimates have been controlled to an independent set of housing unitestimates produced annually by the Census Bureau’s Population Division from Census 2000 and 2010 and updated using building permit data, estimates of housingloss, and other administrative record data. Doing so makes the CPS/HVS estimates of housing units more comparable to other Census Bureau housing surveyscontrolled to these census-based estimates. The housing unit controls affect the estimate of vacant units in the sense that the estimates of total occupied and vacantunits sum to the control total. Vacancy rates and homeownership rates are not affected by this change.2. Beginning in the second quarter 2021, the housing inventory estimates are based on vintage 2020 housing unit controls that are projected forward through thecurrent quarter 2021. The second quarter 2021 housing inventory estimates, shown above, reflect vintage 2020 housing unit controls, benchmarked to the 2010Census. The CPS/HVS historical table series, from the first quarter 2010 through the first quarter 2021, has also been revised based on vintage 2020 housing unitcontrols. These revised estimates and additional information on terms and definitions can be found at: www.census.gov/housing/hvs/data/histtabs 3. For the methodology used in developing the housing unit estimates used for controls in the CPS/HVS, please see the Census Bureau’s Population Divisionwebsite: www.census.gov/programs-surveys/popest.html Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.abData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

The homeownership rate of 65.4 percent was lower than the rate in the second quarter 2020 (67.9 percent)but not statistically different from the rate in the first quarter 2021 (65.6 percent).PercentFigure 47069686766656463621998Quarterly Homeownership Rates and Seasonally Adjusted Homeownership Ratesfor the United States: 1997-20212002Recession2006Homeownership Rate201020142018Seasonally Adjusted Homeownership Rate2021Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021, Recession data: National Bureau of Economic Research, www.nber.org Table 4. Homeownership Rates for the United States: 2000 to 2021Homeownership Rates (percent)YearFirst QuarterSecond QuarterThird QuarterRateMOEaRateMOEaRateMOEaFourth QuarterRateMOEa2021 .2020 .65.665.30.50.565.467.90.50.567.40.565.80.52019 .2018 .2017 .2016 .2015 0.50.565.164.864.263.763.80.50.50.50.50.52014 .2013 .2012 .2011 .2010 0.50.564.065.265.466.066.50.50.50.50.50.52009 .2008 .2007 .2006 .2005 0.50.567.267.567.868.969.00.50.50.50.50.52004 .2003 .2002b .2001 .2000 0.30.369.268.668.368.067.50.30.30.30.30.3A margin of error is a measure of an estimate’s reliability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval. bRevised in 2002 to incorporate information collected in Census2000. Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.aData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

Table 4SA shows the seasonally adjusted homeownership rates for the United States, from 2000 through thesecond quarter 2021. (Research has shown that seasonality for homeownership rates is present.) Whenadjusted for seasonal variation, the second quarter 2021 homeownership rate was lower than the rate in thesecond quarter 2020 and virtually the same as the rate in the first quarter 2021.Table 4SA. Homeownership Rates for the United States: 2000 to 2021, Seasonally AdjustedaHomeownership Rates (percent), Seasonally AdjustedYearFirst QuarterSecond QuarterThird QuarterbbRateMOERateMOERateMOEbFourth QuarterRateMOEb2021 .2020 .65.665.30.50.565.668.10.50.567.30.565.70.52019 .2018 .2017 .2016 .2015 0.50.565.064.664.063.563.70.50.50.50.50.52014 .2013 .2012 .2011 .2010 0.50.563.965.165.365.966.50.50.50.50.50.52009 .2008 .2007 .2006 .2005 0.50.567.267.567.868.868.90.50.50.50.50.52004 .2003 .2002c .2001 .2000 0.20.269.168.568.267.967.50.20.20.20.20.2As new quarterly data are input, previous quarters’ seasonally adjusted homeownership rates may change.A margin of error is a measure of an estimate’s reliability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval.cRevised in 2002 to incorporate information collected in Census 2000.Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.abData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

The second quarter 2021 homeownership rate was highest in the Midwest (70.7 percent), followed by theSouth (67.1 percent), Northeast (61.8 percent), and West (60.1 percent). The homeownership rates in theNortheast, South, and West were lower than the rates in the second quarter 2020, while the rate in theMidwest was not statistically different.Table 5. Homeownership Rates for the United States and Regions: 2016 to 2021Homeownership Rates (percent)Year/QuarterUnited aRateMOEaWestRateMOEa2021Second QuarterFirst 7.167.40.50.560.159.70.70.72020Fourth QuarterThird QuarterSecond QuarterFirst 9Fourth QuarterThird QuarterSecond QuarterFirst 8Fourth QuarterThird QuarterSecond QuarterFirst 7Fourth QuarterThird QuarterSecond QuarterFirst 6Fourth QuarterThird QuarterSecond QuarterFirst 4.864.80.90.90.90.959.058.257.958.71.11.11.11.1A margin of error is a measure of an estimate’s reliability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval.Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.aData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

The second quarter 2021 homeownership rate was highest for those householders aged 65 years and over(79.6 percent) and lowest for those householders under 35 years of age (37.8 percent). The second quarter2021 rates of all age groups were lower than the rates in second quarter 2020.Table 6. Homeownership Rates by Age of Householder: 2016 to 2021Homeownership Rates (percent)Year/QuarterUnited StatesUnder 35 years35 to 44 years45 to 54 yearsRateaRateaRateaMOEMOEMOE2021Second QuarterFirst rth QuarterThird QuarterSecond QuarterFirst 30.70.80.80.72019Fourth QuarterThird QuarterSecond QuarterFirst 42018Fourth QuarterThird QuarterSecond QuarterFirst Quarter64.864.464.364.20.50.50.50.52017Fourth QuarterThird QuarterSecond QuarterFirst Quarter64.263.963.763.62016Fourth QuarterThird QuarterSecond QuarterFirst Quarter63.763.562.963.555 to 64 534.735.234.134.265 years and 75.70.60.60.60.679.579.077.978.80.70.70.70.7A margin of error is a measure of an estimate’s reliability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval.Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.aData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

For homeownership rates by race, the second quarter 2021 homeownership rate for non-Hispanic WhiteAlone householders reporting a single race was highest at 74.2 percent. The rate for Asian, Native Hawaiianand Pacific Islander Alone householders was second at 58.7 percent and the rate for Black Alone householderswas lowest at 44.6 percent. The homeownership rates in all categories were lower than the rates in thesecond quarter 2020.Table 7. Homeownership Rates by Race and Ethnicity of Householder: 2017 to 2021Homeownership Rates (percent)All Other RacesAsian, Native,UnitedBlackNon-HispanicHawaiian andaYear/QuarterTotalStatesAloneWhite AlonePacific IslanderAloneHispanic(of any 7.11.11.158.759.61.31.347.549.30.90.92020Fourth QuarterThird QuarterSecond QuarterFirst 150.951.448.90.90.90.90.92019Fourth QuarterThird QuarterSecond QuarterFirst 147.846.647.40.90.90.90.92018Fourth QuarterThird QuarterSecond QuarterFirst 946.346.648.40.90.91.01.02017Fourth QuarterThird QuarterSecond QuarterFirst 646.145.546.61.01.01.01.02021Second QuarterFirst QuarterIncludes people who reported Asian, Native Hawaiian or Other Pacific Islander, or American Indian or Alaska Native regardless of whether they reported any other race,as well as all other combinations of two or more races.bA margin of error is a measure of an estimate’s variability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval.Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.aData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

The second quarter 2021 homeownership rate for households with family income greater than or equal to themedian family income (78.9 percent) was lower than the second quarter 2020 rate (80.5 percent). The rate forthose households with family income less than the median family income (51.9 percent) was lower than thesecond quarter 2020 rate (55.2 percent).Table 8. Homeownership Rates by Family Income: 2016 to 2021Homeownership Rates (percent)Households with family incomegreater than or equal to the medianUnited StatesYear/Quarterfamily incomeaHouseholds with family income lessthan the median family incomeaRateMOEbRateMOEbRateMOEb2021Second QuarterFirst 020Fourth QuarterThird QuarterSecond QuarterFirst h QuarterThird QuarterSecond QuarterFirst h QuarterThird QuarterSecond QuarterFirst h QuarterThird QuarterSecond QuarterFirst h QuarterThird QuarterSecond QuarterFirst 10.40.40.40.549.549.248.048.90.60.60.60.5Based on family or primary individual income.A margin of error is a measure of an estimate’s reliability. The larger the margin of error in relation to the size of the estimate, the less reliable the estimate. Thisnumber, when added to and subtracted from the estimate, forms the 90 percent confidence interval.Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021.abData InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

The third quarter 2021 data are scheduled for release on October 26, 2021. View the full schedule in theEconomic Briefing Room: https://census.gov/economic-indicators/ . More details can be found at www.census.gov/housing/hvs .Note: Impacts of the coronavirus (COVID-19) pandemic on Housing Vacancies and Homeownership datacollection for the Second Quarter 2021Personal interviewing was allowed for 99 percent of sample cases in the second quarter 2021. The CensusBureau continued to conduct the remaining CPS/HVS interviews by telephone and made efforts to collecttelephone interviews for households and vacant units that would normally have been personal interviews.Households are in the survey’s sample for a total of 8 months, meaning that Field Representatives attempt tointerview someone in the household each of those 8 months. Generally, households entering the sample fortheir first month and fifth month are interviewed through a personal visit. Interviews for other months couldalso be conducted by phone under certain conditions.Data are generally collected the week of the 19th and the reference period is the time of interview. Theresponse rate was 79 percent for April, 78 percent for May, and 76 percent for June 2021.The estimation methodology was not changed in response to the coronavirus pandemic. The lower responserate is addressed by the weights. We likely cannot fully understand or quantify the effects of the pandemic onthe CPS/HVS data and estimates. This note is intended only to document the changes to data collectionoperations made in response to the coronavirus pandemic.EXPLANATORY NOTESThe estimates in this release are based on a sample survey and therefore are subject to both sampling andnon-sampling error. Sampling error is a result of not surveying the entire population. Non-sampling erroroccurs because accurate information cannot always be obtained.The sample estimate and its standard error enable one to construct a margin of error. A margin of error is ameasure of an estimate’s reliability. The larger a margin of error is in relation to the size of the estimate, theless reliable the estimate. For example, the standard error on the estimated rental vacancy rate of 6.2 percentis 0.144 percentage points. The margin of error, at the 90 percent confidence interval, is calculated as 1.645 x0.144 percent, or 0.237 percentage points. Thus, the 90 percent confidence interval is from 6.0 percent to 6.4percent. If all possible samples were surveyed under essentially the same general conditions and the samesample design, and if an estimate and its standard error were calculated from each sample, thenapproximately 90 percent of the margins of error would include the average result of all possible samples.In the first quarter 2017, the parameters used to calculate standard errors for rates and estimates wereupdated. The factors are evaluated, and updated if necessary, after approximately 15 months of data havebeen collected from a new Current Population Survey/Housing Vacancy Survey (CPS/HVS) sample following adecennial census. The current sample has been fully phased-in since July 2015.Data InquiriesSocial, Economic & Housing Statistics Division, Financial & Market Characteristics Branch301-763-3199 / Robert Callis / Patricia Holley / Daniel s.govMedia InquiriesPublic Information Office301-763-3030pio@census.gov

Since the first quarter 2003, the CPS/HVS housing inventory estimates have been controlled to independenthousing unit estimates based upon

Quarterly Rental and Homeowner Vacancy Rates for the United States: 1998-2021. RentalVacancy Rate. Homeowner Vacancy Rate. Recession. Figure. 1. Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, July 27, 2021. RESIDENTIAL VACANCIES AND HO

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