In many respects, vacant homeowner units differed greatly from vacant rental units. Vacant units for sale were generally larger than vacant units available for rent, were more likely to be single-family houses, and tended to remain vacant for a longer period of time.

Of the homeowner vacancies, about six-tenths (59 percent) had 3 bedrooms or more; approximately nine-tenths (86 percent) were singlefamily houses; and about half (53 percent) had been vacant for at least 6 months. Of the rental vacancies, only a few (14 percent) had 3 bedrooms or more; one-third (33 percent) were single-family houses; and three-tenths (29 percent) had been vacant for 6 months or longer.

The results on year structure built show that a sizable proportion of the vacant homeowner units were located in recently built structures. About one-third of the vacant units for sale in the fourth quarter 1967 were built in 1960 or later; whereas about one-seventh of the rental vacancies were in recently built structures.

The level of quality was higher for vacant for-sale units than for vacant for-rent units. Nine-tenths (91 percent) of the for-sale vacancies had all plumbing facilities--hot running water, private flush toilet, and private bath. In comparison, eight-tenths (80 percent) of the rental vacancies had these facilities.

For rental vacancies, the median monthly rent asked was $64. Rentals for approximately three-tenths of the vacancies included amounts for all utilities--heat, water, light, and cooking fuel.

The median price asked for homeowner vacancies was $14,100. Vacancies for sale include houses that have been previously occupied as well as units not previously occupied; the latter group constituted about one-fifth of the forsale group.

Data on rent and price asked exclude units in rural areas that were located on places of 10 acres or more. Data for such units were not obtained because of the difficulty of separating the amount for the housing unit from the amount for the land.

The rent or price asked is for available vacant units and may not represent the current rent level of renter-occupied units or the current value of owner-occupied homes. Further, the rent or price is the amount asked at the time of enumeration and may differ from the rent contracted for or the selling price.

Compared with a year ago, there are few differences in the characteristics of vacant housing units. There is some evidence that there are fewer recently built (1960 or later) vacancies available for rent. In the fourth quarter 1967, one-seventh of the rental vacancies were in recently built structures. In the fourth quarter

1966, one-sixth of the vacancies for rent were in recently built structures.

VACANT UNITS NOT ON THE MARKET

The rental and homeowner vacancy rates describe the market conditions for available vacant housing. To analyze the total vacancy situation, vacant units not on the market must

be considered. Vacant units not on the available market comprise units that have already been rented or sold, units held by the owner, dilapidated units, and vacant units intended only for seasonal occupancy.

Of all housing units in the United States in the fourth quarter 1967, approximately 0.5 percent were vacant units which had been rented or sold but not yet occupied (and were for year-round use and not dilapidated).

Units held off the rental or sale market (and for year-round use and not dilapidated) amounted to 2.8 percent, about the same as the rate for the preceding quarter. The percentages were 3.0 for the North Central Region, 3.3 for the South, and 3.6 for the West. The rate continued to be lowest in the Northeast, where it was 1.7 percent. The proportion for units held off the market was substantially lower in metropolitan areas than in the nonmetropolitan areas.

Year-round vacancies which were dilapidated constituted 0.6 percent of the total housing. These

vacancies were found largely outside SMSA's. Because of their structural condition, dilapidated vacancies are not considered part of the supply that is on the market. Vacancies in the dilapidated group are among the units most likely to drop out of the housing inventory. Vacant units which are intended for occupancy as living quarters are included in the inventory even though they are dilapidated; however, vacant units which are unfit for human habitation or deteriorated to the extent that they are no longer considered living quarters are not included in the statistics for this report.

Seasonal units which were vacant accounted for 2.8 percent of the total housing inventory. Vacation homes for summer or winter recreational use comprised approximately nine-tenths of the total seasonal units. The remaining one-tenth consisted of cabins and houses reserved for loggers, herders, or migratory farm laborers who would occupy the quarters during the work

season.

Rental vacancy rates.--During the period 1956 to 1967, the national vacancy rate in rental housing climbed upward through 1961 and remained relatively stable until 1965 when a downward movement began (see figure 1). The rental vacancy rate rose from 5.5 in 1956 to 7.9 in 1961, and remained at this level through 1965. In 1966 the rate dropped to 7.0 and in 1967 to 6.2, the lowest level reached during the 1960's.

Within metropolitan areas, the rental vacancy rates rose from 4.5 in 1956 to 7.4 in 1965, dropped to 6.5 in 1966 and moved downward to 5.5 in 1967. Outside metropolitan areas, the movement was more erratic. The rate moved upward between 1956 and 1961, declined in 1962 through 1964, moved upward in 1966, and remained at the higher level through 1967.

The rental vacancy rates show different patterns by geographic region. In the Northeast, which ranks lowest among the regions, the rates moved slowly but consistently upward from 1956 to 1965 and remained at that level through 1967. In the North Central Region, the rates moved generally upward between 1956 and 1961, followed by a downward trend through 1967. In the South and

the West, the rental vacancy rates stood generally above the national level. The rates in the South increased sharply between 1956 and 1961 but declined between 1961 and 1967. In the West, the rates showed considerable variation between 1956 and 1967. Nevertheless, an overall upward movement is evidenced for the 10-year period 1956 to 1965, followed by a decline.

Homeowner vacancy rates.--The vacancy rates among homeowner units were substantially lower and more stable than the rates for rental units. The trend movement was slowly upward from 1956 to 1963, remained stable from 1963 through 1965, and declined from 1965 to 1967. The rate was 0.9 in 1956, 1.4 in 1963, and 1.2 in 1967.

Until 1965, homeowner vacancy rates inside SMSA's increased more slowly than the rates outside SMSA's. However, the trend closely followed that of the national pattern, with the rates inside metropolitan areas tending to be lower than the rates at the national level and the rates outside metropolitan areas tending to be higher. For the years 1965 to 1967, the homeowner vacancy rates inside and outside SMSA's stood at approximately the same level as the national rates.