State Vacancy Data by jtw20961

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									Data on Housing Vacancy and
Housing Cost from the Census
          Bureau
           Dr. Arthur R Cresce
   Assistant Division Chief for Housing
             Characteristics
   Housing and Household Economic
            Statistics Division


                                          1
  Sources of Data on Housing Vacancy
          and Housing Costs
• Current Population Survey/Housing Vacancy Survey (CPS/HVS)
   – Official source of housing vacancy data and homeownership
     data
   – No housing cost data
   – National, regional and large metro level
   – Available quarterly (with annual average report)
• American Community Survey (ACS)
   – Occupancy status (occupied/vacant)
   – Homeownership data
   – Housing cost data
   – Geographic coverage: down to tract level (5-year)
   – Available annually

                                                                 2
Sources of Data on Housing Vacancy
     and Housing Costs (Cont.)
• American Housing Survey (AHS)
   – Most detailed source of housing data, especially housing
     costs and homeownership data
   – Vacancy rates controlled to CPS/HVS rates
   – National and regional level
   – Available every two years
• 2010 Census
   – Occupancy status (occupied/vacant)
   – Homeownership data
   – No housing cost data
   – Geographic coverage: down to block level
   – Available every 10 years
                                                                3
Sources of Data on Housing Vacancy
     and Housing Costs (Cont.)

• Survey of Income and Program Participation
   – Homeownership data
   – Housing cost data (mainly data on mortgages)
   – Geographic coverage: national level
   – Not primarily a housing survey, but very interesting source to
     trace change in housing tenure and mortgage status




                                                                      4
        Important Housing Measures
       Reflecting Economic Conditions
•   Vacancy rates (homeowner and rental)
•   Homeownership rates
•   Value of property
•   Selected monthly owner costs*
    – Median selected monthly owner costs
    – Percent selected monthly owner costs of monthly
      household income (housing burden)

* Sum of payment for mortgages, real estate taxes, various
   insurances, utilities, fuels, mobile home costs, and
   condominium fees.
                                                             5
Annual Rental and Homeowner Vacancy Rates for the United States:
                         1968–2008
 Percent                                                                        Recessio
                                                                                n




      1968   1971    1974    1977    1980    1983    1986    1989   1992    1995      1998

    2001    2004    2007
  Note: The data points are placed at the beginning of the respective time periods.
  Source for Recession Data: National Bureau of Economic Research, Inc., 1050
  Massachusetts Ave., Cambridge, MA.
  Source for Rental and Homeowner Vacancy Rates: Current Population Survey/Housing
  Vacancy Survey, U.S. Census Bureau, Washington, DC 20233.

                                                                                             6
7
          Quarterly Homeownership Rates and Seasonally Adjusted
           Homeownership Rates for the United States: 1997–2008
                                                            Homeownership Rate
                                                            Seasonally Adjusted Homeownership Rate
Percent                                                     Recession




    1Q1997 1Q1998 1Q1999 1Q2000 1Q2001 1Q2002 1Q2003 1Q2004 1Q2005 1Q2006 1Q2007 1Q2008
Source for Recession data: National Bureau of Economic Research, Inc., 1050 Massachusetts Ave.,
                           Cambridge, MA.

Source for Homeownership Rates: Current Population Survey/Housing Vacancy Survey, U.S. Census
                                Bureau, Washington, DC 20233.
                                                                                                     8
9
Change in Median House value,
    2006-2007, ACS data




              Percent Change from 2006 to 2007
                           under 0.00
                           0.00 to 4.00
                           4.01 to 8.00
                           8.01 or more




                                                 10
11
12
  Median Monthly Owner Costs for
Selected States: 2006 and 2007 ACS
                 (Medians in 2007 dollars)

      State             2007 ACS               2006 ACS
Arizona                    1464*                1396*
California                 2314*                2203*
Florida                    1577*                1462*
Nevada                     1779*                1664*

* Differences are statistically significant.

                                                          13
  Median Monthly Owner Costs for
Selected States: 2007 and 2008 ACS
               (Medians in 2008 dollars)

     State           2008 ACS              2007 ACS
Arizona                 1527                 1512
California              2384                 2395
Florida                1603*                1638*
Nevada                  1818                 1852

   * Difference is statistically significant.
                                                      14
 For More Information:
• American Community Survey –
    http://www.census.gov/acs/www/
• Housing Data –
    http://www.census.gov/hhes/www/housing.html


• My contact information:
    email: arthur.r.cresce.jr@census.gov
    phone: 301-763-3188

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