This study focused on evaluating the reliability of code formulas such as those of the current Korean Building Code(KBC 1988). UBC 1997, NBCC 1995. and BSLJ 1994 for estimating the fundamental period of RC apartment buildings with shear-wall dominant systems, representative of typical residential buildings in Korea. For this purpose, full-scale measurements were carried out on fifty RC apartment buildings, and these results were compared to those obtained by code formulas and also by dynamic analysis. Although these code formulas are based on the measured periods of buildings during various earthquakes and building period varies with the amplitude of structural deflection or strain level, ambient surveys should provide an effective tool for experimentally verifying the design period to the completed building. This comparison shows that comparatively large errors are likely to occure when the code formula of KBC 1988 is used, and all the other code formulas are not sufficient to estimate the fundamental period of apartment buildings with shear-wall dominant systems. An improved formula is proposed by regression analysis on the basis of the measured period data. The proposal is for the servicebility stress level, but it can also be applied for seismic code in the regions of low seismicity similar to Korea.