Recent interest in the transient magnetic field events produced by electrical switching events in residential and occupational environments has been kindled by the possibility that these fields may explain observed associations between childhood cancer and wire codes. This paper reports the results of a study in which the rate of occurrence of magnetic field events with 2–200 kHz frequency content were measured over 24 h or longer periods in 156 U.S. residences. A dual‐channel meter was developed for the study that, during 20 s contiguous intervals of time, counted the number of events with peak 2–200 kHz magnetic fields exceeding thresholds of 3.3 nT and 33 nT. Transient activity exhibited a distinct diurnal rhythm similar to that followed by power frequency magnetic fields in residences. Homes that were electrically grounded to a conductive water system that extended into the street and beyond, had higher levels of 33 nT channel transient activity. Homes located in rural surroundings had less 33 nT transient activity than homes in suburban/urban areas. Finally, while transient activity was perhaps somewhat elevated in homes with OLCC, OHCC, and VHCC wire codes relative to homes with underground (UG) and VLCC codes, the elevation was the smallest in VHCC and the largest in OLCC homes. This result does not provide much support for the hypothesis that transient magnetic fields are the underlying exposure that explains the associations, observed in several epidemiologic studies, between childhood cancer and residence in homes with VHCC, but not OLCC and OHCC, wire codes. Bioelectromagnetics 21:197–213, 2000. © 2000 Wiley‐Liss, Inc.