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Housing and Vacancy Survey

 

Table 5
Number of Vacant Units Available for Rent and
Net Vacancy Rate by Monthly Rent Level in 1996 Dollars
New York City, 1993 and 1996

 Monthly Rent Level (b) Vacant Units Available for Rent Net Vacancy Rate (Percent) (a)

  1993 1996 1993 1996
Total 70,345 81,256 3.44% 4.01%
Less than $300 (d) 3,290 0.64(c) 1.46
$300 to $399 (d) 4,896 0.91(c) 3.59
$400 to $499 4,716 7,908 1.58 3.20
$500 to $599 11,923 10,621 3.72 3.33
$600 to $699 8,135 15,764 3.67 5.10
$700 to $799 9,415 10,724 4.88 5.20
$800 to $899 7,129 8,292 5.09 5.81
$900 to $999 3,202 2,764(c) 4.44 3.53
$1,000 to 1,249 4,457 4,358 5.63 4.65
$1,250+ 4,821 2,526(c) 5.18 2.47
Not Reported 13,073 10,113    

Source: U.S. Bureau of the Census, 1993 and 1996 New York City Housing and Vacancy Surveys.

Notes:

(a) The vacancy rate is calculated by dividing vacant available for rent units that are not dilapidated by the sum of vacant available for rent units that are not dilapidated and renter-occupied units.

(b) Asking rents for vacant units and contract rents for occupied units. The ratio of the April 1996 over the April 1993 Consumer Price Index values (CPI-U) for New York,Northeast New Jersey-Long Island (166.0/154.0) was used to convert nominal 1993 rents into rents measured in 1996 dollars.

(c) Since the number of vacant available for rent units in this category is small, interpret with caution.

(d) Number of units too small to report.

 

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