1 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

2 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

3 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

4 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

5 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.

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 Recessio n Percent Annual Rental and Homeowner Vacancy Rates for the United States: 1968–2008

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

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10 Change in Median House value, , ACS data

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13 Median Monthly Owner Costs for Selected States: 2006 and 2007 ACS (Medians in 2007 dollars) State2007 ACS2006 ACS Arizona1464*1396* California2314*2203* Florida1577*1462* Nevada1779*1664* * Differences are statistically significant.

14 Median Monthly Owner Costs for Selected States: 2007 and 2008 ACS (Medians in 2008 dollars) State2008 ACS2007 ACS Arizona California Florida1603*1638* Nevada * Difference is statistically significant.

15 For More Information: American Community Survey – Housing Data – My contact information: phone: