Housing Affordability 1995
Table 5-1: Effect of Changes in Interest Rates on Affordability Status of Families and Unrelated Individuals for
a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1995
(Numbers in thousands. Data may not add to total due to rounding)
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| Cannot afford median-priced home in area |
|----------------------------------------------------------------------------------------------------------------|
| Families | |
|------------------------------------------------------------------------------------------| |
| | |Male householder, no |Female householder, no | Unrelated |
| Total | Married-couple |wife present |husband present | Individuals |
|----------------------|---------------------|---------------------|-----------------------|---------------------|
Change in interest rate | Number | Percent | Number | Percent | Number | Percent | Number | Percent | Number | Percent |
-------------------------------|-----------|----------|----------|----------|----------|----------|-----------|-----------|----------|----------|
USING CONVENTIONAL, FIXED-RATE,| | | | | | | | | | |
30-YEAR FINANCING | | | | | | | | | | |
| | | | | | | | | | |
Total | | | | | | | | | | |
Rate 3.0 percent lower.........| 35,989 | 49.4 | 21,403 | 39.1 | 2,264 | 70.6 | 12,322 | 82.5 | 27,631 | 72.9 |
Rate 2.0 percent lower.........| 36,758 | 50.4 | 22,033 | 40.2 | 2,307 | 71.9 | 12,417 | 83.1 | 27,946 | 73.7 |
Rate 1.0 percent lower.........| 37,412 | 51.3 | 22,573 | 41.2 | 2,322 | 72.4 | 12,517 | 83.8 | 28,327 | 74.7 |
Rate 0.5 percent lower.........| 37,734 | 51.8 | 22,818 | 41.7 | 2,338 | 72.9 | 12,578 | 84.2 | 28,496 | 75.2 |
Current rate...................| 38,075 | 52.2 | 23,110 | 42.2 | 2,349 | 73.2 | 12,616 | 84.5 | 28,648 | 75.6 |
Rate 0.5 percent higher........| 38,403 | 52.7 | 23,359 | 42.7 | 2,365 | 73.8 | 12,678 | 84.9 | 28,767 | 75.9 |
Rate 1.0 percent higher........| 38,744 | 53.1 | 23,667 | 43.2 | 2,375 | 74.0 | 12,702 | 85.0 | 28,871 | 76.2 |
Rate 2.0 percent higher........| 39,491 | 54.2 | 24,290 | 44.4 | 2,407 | 75.0 | 12,795 | 85.7 | 29,213 | 77.1 |
Rate 3.0 percent higher........| 40,205 | 55.2 | 24,905 | 45.5 | 2,433 | 75.9 | 12,867 | 86.2 | 29,510 | 77.8 |
| | | | | | | | | | |
| | | | | | | | | | |
Current owners | | | | | | | | | | |
Rate 3.0 percent lower.........| 16,152 | 31.4 | 10,803 | 25.3 | 946 | 51.6 | 4,404 | 64.2 | 8,660 | 49.9 |
Rate 2.0 percent lower.........| 16,855 | 32.7 | 11,386 | 26.6 | 985 | 53.7 | 4,485 | 65.3 | 8,901 | 51.3 |
Rate 1.0 percent lower.........| 17,459 | 33.9 | 11,889 | 27.8 | 996 | 54.3 | 4,574 | 66.6 | 9,204 | 53.0 |
Rate 0.5 percent lower.........| 17,771 | 34.5 | 12,128 | 28.4 | 1,012 | 55.2 | 4,631 | 67.5 | 9,338 | 53.8 |
Current rate...................| 18,086 | 35.1 | 12,394 | 29.0 | 1,022 | 55.8 | 4,670 | 68.0 | 9,455 | 54.4 |
Rate 0.5 percent higher........| 18,380 | 35.7 | 12,625 | 29.5 | 1,039 | 56.7 | 4,716 | 68.7 | 9,551 | 55.0 |
Rate 1.0 percent higher........| 18,689 | 36.3 | 12,901 | 30.2 | 1,048 | 57.2 | 4,739 | 69.1 | 9,601 | 55.3 |
Rate 2.0 percent higher........| 19,384 | 37.7 | 13,471 | 31.5 | 1,080 | 58.9 | 4,832 | 70.4 | 9,898 | 57.0 |
Rate 3.0 percent higher........| 20,064 | 39.0 | 14,062 | 32.9 | 1,107 | 60.4 | 4,895 | 71.3 | 10,100 | 58.2 |
| | | | | | | | | | |
| | | | | | | | | | |
Current renters | | | | | | | | | | |
Rate 3.0 percent lower.........| 19,837 | 92.6 | 10,600 | 88.5 | 1,318 | 95.9 | 7,919 | 98.1 | 18,971 | 92.3 |
Rate 2.0 percent lower.........| 19,903 | 92.9 | 10,647 | 88.9 | 1,323 | 96.3 | 7,933 | 98.3 | 19,045 | 92.7 |
Rate 1.0 percent lower.........| 19,953 | 93.1 | 10,684 | 89.2 | 1,326 | 96.5 | 7,943 | 98.4 | 19,123 | 93.1 |
Rate 0.5 percent lower.........| 19,963 | 93.2 | 10,690 | 89.2 | 1,326 | 96.5 | 7,947 | 98.4 | 19,158 | 93.2 |
Current rate...................| 19,989 | 93.3 | 10,716 | 89.5 | 1,326 | 96.5 | 7,947 | 98.4 | 19,193 | 93.4 |
Rate 0.5 percent higher........| 20,023 | 93.5 | 10,734 | 89.6 | 1,326 | 96.5 | 7,963 | 98.6 | 19,216 | 93.5 |
Rate 1.0 percent higher........| 20,055 | 93.6 | 10,766 | 89.9 | 1,326 | 96.5 | 7,963 | 98.6 | 19,270 | 93.8 |
Rate 2.0 percent higher........| 20,108 | 93.9 | 10,819 | 90.3 | 1,326 | 96.5 | 7,963 | 98.6 | 19,315 | 94.0 |
Rate 3.0 percent higher........| 20,141 | 94.0 | 10,843 | 90.5 | 1,326 | 96.5 | 7,972 | 98.8 | 19,410 | 94.5 |
| | | | | | | | | | |
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Table 5-1: Effect of Changes in Interest Rates on Affordability Status of Families and Unrelated Individuals for
a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1995 - Continued
(Numbers in thousands. Data may not add to total due to rounding)
-------------------------------------------------------------------------------------------------------------------------------------------------
| Cannot afford median-priced home in area |
|----------------------------------------------------------------------------------------------------------------|
| Families | |
|------------------------------------------------------------------------------------------| |
| | |Male householder, no |Female householder, no | Unrelated |
| Total | Married-couple |wife present |husband present | Individuals |
|----------------------|---------------------|---------------------|-----------------------|---------------------|
Change in interest rate | Number | Percent | Number | Percent | Number | Percent | Number | Percent | Number | Percent |
-------------------------------|-----------|----------|----------|----------|----------|----------|-----------|-----------|----------|----------|
USING FHA, FIXED-RATE, 30-YEAR | | | | | | | | | | |
FINANCING | | | | | | | | | | |
| | | | | | | | | | |
Total | | | | | | | | | | |
Rate 3.0 percent lower.........| 34,845 | 47.8 | 20,311 | 37.1 | 2,227 | 69.4 | 12,307 | 82.4 | 27,400 | 72.3 |
Rate 2.0 percent lower.........| 35,663 | 48.9 | 20,984 | 38.3 | 2,277 | 71.0 | 12,402 | 83.0 | 27,828 | 73.4 |
Rate 1.0 percent lower.........| 36,427 | 50.0 | 21,614 | 39.5 | 2,293 | 71.5 | 12,520 | 83.8 | 28,141 | 74.2 |
Rate 0.5 percent lower.........| 36,860 | 50.6 | 21,950 | 40.1 | 2,321 | 72.4 | 12,589 | 84.3 | 28,302 | 74.7 |
Current rate...................| 37,180 | 51.0 | 22,205 | 40.6 | 2,347 | 73.2 | 12,629 | 84.6 | 28,469 | 75.1 |
Rate 0.5 percent higher........| 37,556 | 51.5 | 22,512 | 41.1 | 2,375 | 74.0 | 12,670 | 84.8 | 28,609 | 75.5 |
Rate 1.0 percent higher........| 37,912 | 52.0 | 22,812 | 41.7 | 2,383 | 74.3 | 12,717 | 85.1 | 28,803 | 76.0 |
Rate 2.0 percent higher........| 38,767 | 53.2 | 23,545 | 43.0 | 2,420 | 75.5 | 12,802 | 85.7 | 29,130 | 76.8 |
Rate 3.0 percent higher........| 39,622 | 54.4 | 24,289 | 44.4 | 2,452 | 76.5 | 12,881 | 86.2 | 29,410 | 77.6 |
| | | | | | | | | | |
| | | | | | | | | | |
Current owners | | | | | | | | | | |
Rate 3.0 percent lower.........| 15,315 | 29.8 | 9,989 | 23.4 | 919 | 50.2 | 4,407 | 64.2 | 8,581 | 49.4 |
Rate 2.0 percent lower.........| 16,065 | 31.2 | 10,615 | 24.8 | 962 | 52.5 | 4,489 | 65.4 | 8,879 | 51.1 |
Rate 1.0 percent lower.........| 16,736 | 32.5 | 11,178 | 26.1 | 967 | 52.7 | 4,591 | 66.9 | 9,138 | 52.6 |
Rate 0.5 percent lower.........| 17,148 | 33.3 | 11,493 | 26.9 | 995 | 54.3 | 4,660 | 67.9 | 9,252 | 53.3 |
Current rate...................| 17,412 | 33.8 | 11,709 | 27.4 | 1,021 | 55.7 | 4,683 | 68.2 | 9,380 | 54.0 |
Rate 0.5 percent higher........| 17,762 | 34.5 | 11,990 | 28.0 | 1,048 | 57.2 | 4,724 | 68.8 | 9,485 | 54.6 |
Rate 1.0 percent higher........| 18,094 | 35.2 | 12,266 | 28.7 | 1,057 | 57.6 | 4,771 | 69.5 | 9,612 | 55.3 |
Rate 2.0 percent higher........| 18,884 | 36.7 | 12,933 | 30.2 | 1,094 | 59.7 | 4,857 | 70.8 | 9,856 | 56.8 |
Rate 3.0 percent higher........| 19,677 | 38.2 | 13,628 | 31.9 | 1,126 | 61.4 | 4,923 | 71.7 | 10,078 | 58.0 |
| | | | | | | | | | |
| | | | | | | | | | |
Current renters | | | | | | | | | | |
Rate 3.0 percent lower.........| 19,529 | 91.2 | 10,322 | 86.2 | 1,307 | 95.1 | 7,900 | 97.9 | 18,819 | 91.6 |
Rate 2.0 percent lower.........| 19,597 | 91.5 | 10,369 | 86.6 | 1,316 | 95.7 | 7,913 | 98.0 | 18,949 | 92.2 |
Rate 1.0 percent lower.........| 19,691 | 91.9 | 10,436 | 87.1 | 1,326 | 96.5 | 7,929 | 98.2 | 19,003 | 92.5 |
Rate 0.5 percent lower.........| 19,712 | 92.0 | 10,457 | 87.3 | 1,326 | 96.5 | 7,929 | 98.2 | 19,050 | 92.7 |
Current rate...................| 19,768 | 92.3 | 10,496 | 87.6 | 1,326 | 96.5 | 7,946 | 98.4 | 19,090 | 92.9 |
Rate 0.5 percent higher........| 19,794 | 92.4 | 10,522 | 87.8 | 1,326 | 96.5 | 7,946 | 98.4 | 19,124 | 93.1 |
Rate 1.0 percent higher........| 19,818 | 92.5 | 10,546 | 88.0 | 1,326 | 96.5 | 7,946 | 98.4 | 19,191 | 93.4 |
Rate 2.0 percent higher........| 19,884 | 92.8 | 10,612 | 88.6 | 1,326 | 96.5 | 7,946 | 98.4 | 19,274 | 93.8 |
Rate 3.0 percent higher........| 19,945 | 93.1 | 10,661 | 89.0 | 1,326 | 96.5 | 7,958 | 98.6 | 19,332 | 94.1 |
| | | | | | | | | | |
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For assistance, please contact the Census Call Center at 1-800-923-8282 (toll free) or visit ask.census.gov for further information on Housing Affordability Data.
Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: September 30, 2011
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