Historical Data

 

iconTable 12. Market Absorption of New Rental Units and Median Asking Rent: 1970–Present

 

Period

Unfurnished Rental Apartment Completions

Percent Rented in 3 Months

Median Asking Rent

Annual Data

1970

328,400

73

$188

1971

334,400

68

$187

1972

497,900

68

$191

1973

531,700

70

$191

1974

405,500

68

$197

1975

223,100

70

$211

1976

157,000

80

$219

1977

195,600

80

$232

1978

228,700

82

$251

1979

241,200

82

$272

1980

196,100

75

$308

1981

135,400

80

$347

1982

117,000

72

$385

1983

191.500

69

$386

1984

313,200

67

$393

1985

364,500

65

$432

1986

407,600

66

$457

1987

345,600

63

$517

1988

284,500

66

$550

1989

246,200

70

$590

1990

214,300

67

$600

1991

165,300

70

$614

1992

110,200

74

$586

1993

77,200

75

$573

1994

104,000

81

$576

1995

155,000

72

$655

1996

191,300

72

$672

1997

189,200

74

$724

1998

209,900

73

$734

1999

225,900

72

$791

2000

226,200

72

$841

2001
192,900
63
$881

Quarterly Data

2001  
3rd Quarter 56,500 64 $900

4th Quarter

47,300 58 $862

2002

 

1st Quarter

37,900 60 $904

2nd Quarter

56,800 63 $939

3rd Quarter

61,700 57 $910

Sources: Census Bureau, Department of Commerce; and Office of Policy Development and Research, Department of Housing and Urban Development

http://www.census.gov/hhes/www/soma.html


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