U.S. Census Bureau
U.S. Depa rtment of Commerce
Economics and Statistics Administration
U.S. CENSUS BUREAU
Market Absorption of Apartments
Annual 2003 Absorptions
1Details may not sum to totals because of rounding.
Questions regarding these data may be directed to Housing and Household Economic Statistics Division , telephone: 301-763-3199.
For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.
U.S. Depa rtment of Housing
and Urban Development
The Survey of Market Absorption (SOMA)
measures how soon privately financed,
nonsubsidized, unfurnished units in buildings
with five or more units are rented or sold
(absorbed) after completion. In addition, the
survey collects data on characteristics such as
number of bedrooms, asking rent, and asking
The estimates in this report are based on
responses from a sample of the population.
As with all surveys, estimates vary from actual
values because of sampling variation or other
factors. All comparisons made in this report
have undergone statistical testing and are
significant at the 90-percent confidence level.
• During 2002, a total of 204,100 privately
financed, nonsubsidized, unfurnished,
rental apartments in buildings of five units
or more were completed in permit-issuing
areas in the United States. This estimate
dose not differ from the 193,100 comple-
tions of similar units in 2001, or the
209,900 estimated in 1998. However,
2002 unfurnished rental completions were
about 22,100 fewer than 2000, and some
21,800 below 1999 levels (1999 and
2000 levels did not differ) (see Table 8).
• Fifty-nine percent of the unfurnished rental
apartments built in the United States in
2002 were absorbed (rented) within the
first 3 months of completion, 78 percent
within 6 months, 88 percent within
9 months, and 93 percent were rented
within a year of completion (see Table 1).
The South, with 47 percent of rental
completions, had more than any of the
other regions. T