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Residential Finance Survey - Detailed Regional Tables: 2001

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Residential Finance Survey: 2001 - Northeast
Table 2-1b. Mortgage Status, 1-Unit Homeowner Properties
^Number of properties in thousands. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see text.
For minimum base of derived figures (percent, median, etc.) and meaning of symbols, see text.
@3Permanent (closed end) mortgages - excludes properties with home equity lines of credit as only mortgage^^

Mortgaged properties
Total properties Nonmortgaged properties Total mortgaged properties Properties with traditional
first mortgage@3		 Properties with home
equity line of credit only

1-housing-unit properties		 10490 3660 6829 6370 459

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs		 9123 3041 6081 5708 373
In central cities 1528 589 939 885 54
Not in central cities 7595 2452 5143 4824 319
Outside MAs 1367 619 748 662 86

Manner of Acquisition

By purchase		 9742 3153 6589 6173 416
Placed one new mortgage 8218 2019 6199 5868 331
Placed two or more new mortgages 143 25 118 118 0
Assumed mortgage(s) already on property 198 116 82 82 0
Assumed mortgage(s) already on property
and placed new mortgage		 38 17 21 14 7
Borrowed using assets other than this
property as collateral		 92 57 34 21 14
Paid all cash-no borrowing 1012 887 124 59 65
Other manner 43 32 12 12 0
By inheritance or gift 576 409 166 124 42
By divorce 21 13 8 8 0
By some other manner 30 12 18 18 0
Not reported 121 73 48 48 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)		 3278 360 2918 2875 43
Sale of previous home 925 105 820 799 20
Sale of other real property or other
investments		 164 45 119 119 0
Savings 1905 150 1755 1735 20
Borrowing from a retirement plan 150 14 136 136 0
Borrowing using assets other than this
property as collateral		 63 6 58 53 5
Proceeds from an insurance policy 22 9 13 13 0
Payments in a lease-purchase agreement 27 8 19 19 0
From a state or local government source 54 0 54 54 0
From a non-profit organization 3 0 3 3 0
From parents or relatives 380 16 364 359 5
Other 11 8 4 4 0
No downpayment required 214 54 160 160 0
Not reported 68 27 41 41 0
Other properties 7168 3269 3899 3483 416
Not reported 44 32 12 12 0

Year Property Acquired

1999 to 2001 (part)		 1647 267 1379 1362 18
1997 and 1998 1102 131 970 958 12
1995 and 1996 747 106 641 623 17
1990 to 1994 1608 240 1367 1333 34
1985 to 1989 1287 339 949 900 48
1980 to 1984 867 330 536 473 63
1975 to 1979 874 357 517 424 93
1970 to 1974 623 385 238 182 57
1969 or earlier 1734 1503 231 115 116

Building and Land Acquisition

Acquired at same time		 9313 3093 6220 5817 403
Not acquired at same time 941 454 487 436 51
Land not owned by building owner 107 43 64 63 1
Not reported 128 70 58 54 3

Property New or Previously Occupied When
Acquired

Acquired by purchase		 9742 3153 6589 6173 416
New 2440 1065 1375 1243 131
Previously occupied by someone else 7232 2057 5174 4889 285
Converted from non-residential use 13 9 4 4 0
Other 15 11 4 4 0
Not reported 43 10 33 33 0
Other properties 627 435 192 149 42
Not reported 121 73 48 48 0

Year Structure Built

1999 to March 2000		 264 39 225 215 10
1997 and 1998 310 39 271 263 8
1995 and 1996 179 28 151 142 9
1990 to 1994 586 71 515 503 12
1980 to 1989 1169 276 893 848 45
1970 to 1979 1333 398 935 859 76
1960 to 1969 1315 595 720 663 57
1950 to 1959 1863 794 1069 1008 61
1940 to 1949 859 388 471 439 32
1939 or earlier 2612 1034 1578 1430 149

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)		 2578 285 2292 2267 25
Less than $20,000 93 37 56 56 0
$20,000 to $39,999 156 27 129 124 5
$40,000 to $59,999 208 24 184 184 0
$60,000 to $79,999 231 35 195 195 0
$80,000 to $99,999 268 34 235 235 0
$100,000 to $124,999 297 26 272 267 4
$125,000 to $149,999 310 34 276 276 0
$150,000 to $174,999 213 13 201 196 5
$175,000 to $199,999 173 4 170 166 3
$200,000 to $249,999 227 19 207 203 5
$250,000 to $299,999 131 4 127 123 4
$300,000 to $499,999 210 28 181 181 0
$500,000 or more 61 0 61 61 0
Median 127880 91211 131900 131566 169475
Mean 163904 120401 169322 169428 159857
Other properties 7912 3375 4537 4104 433

Value

Less than $20,000		 238 197 41 36 5
$20,000 to $39,999 535 310 225 210 14
$40,000 to $59,999 755 387 368 328 40
$60,000 to $79,999 978 344 635 564 70
$80,000 to $99,999 1032 407 625 572 53
$100,000 to $124,999 959 314 645 600 45
$125,000 to $149,999 990 268 722 668 54
$150,000 to $174,999 913 262 651 618 33
$175,000 to $199,999 691 188 503 482 21
$200,000 to $249,999 924 253 671 634 37
$250,000 to $299,999 805 272 533 499 33
$300,000 to $499,999 1186 313 873 823 50
$500,000 or more 484 145 339 336 4
Median 143889 114753 155949 158353 125978
Mean 187646 159772 202587 205750 158660

Purchase Price as Percent of Value@8

Acquired by purchase		 9742 3153 6589 6173 416
Purchased 1997 to 2001 (part) 2578 285 2292 2267 25
Less than 60 percent 336 88 247 242 5
60 to 69 percent 240 47 193 185 8
70 to 79 percent 299 12 287 287 0
80 to 99 percent 1134 80 1054 1046 8
100 percent or more 552 53 499 495 5
Median 87 74 88 88 70
Purchased 1990 to 1996 (part) 2177 239 1938 1894 43
Less than 40 percent 199 38 162 150 12
40 to 59 percent 280 33 247 235 12
60 to 79 percent 669 64 605 605 0
80 to 99 percent 722 63 660 648 12
100 percent or more 303 39 264 256 8
Median 78 75 79 79 56
Purchased 1989 or earlier 4988 2628 2360 2012 347
Less than 20 percent 1430 991 439 310 129
20 to 39 percent 1152 539 613 504 109
40 to 59 percent 972 497 476 427 48
60 to 79 percent 808 455 353 314 39
80 to 99 percent 339 88 251 243 8
100 percent or more 271 56 215 201 14
Median 38 32 45 49 28
Not acquired by purchase 747 507 240 197 42

Value-Income Ratio

Less than 1.0		 898 436 462 418 44
1.0 to 1.4 1316 307 1010 932 77
1.5 to 1.9 1529 413 1115 1067 48
2.0 to 2.4 1339 288 1051 985 65
2.5 to 2.9 1045 273 772 735 37
3.0 to 3.4 633 167 466 444 22
3.5 to 3.9 450 144 305 293 13
4.0 or more 2360 1193 1167 1039 128
Not reported or not computed 920 439 481 457 25
Median 2.4 2.8 2.3 2.3 2.4

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000		 5606 1569 4037 3758 278
Less than $500 68 27 42 33 9
$500 to $999 177 73 104 97 7
$1,000 to $2,499 759 263 496 473 22
$2,500 to $4,999 918 395 523 478 45
$5,000 to $7,499 1029 270 759 702 58
$7,500 to $9,999 324 105 219 204 15
$10,000 to $14,999 792 191 601 568 33
$15,000 to $19,999 384 63 322 288 34
$20,000 to $29,999 493 85 408 380 27
$30,000 or more 662 98 564 535 29
Median 7141 5253 8582 8683 7414
Mean 15949 11895 17525 17855 13059
Properties with no capital
improvements between 1998 and 2000		 3806 1614 2192 2040 153
Capital improvements not
reported		 1077 478 600 572 28

Age Restrictions

Property located in subdivision
restricted to people age 55 or older		 135 36 100 100 0
Property located in subdivision not
restricted to people age 55 or older		 9757 3387 6370 5934 436
Not reported 598 238 359 337 22

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older		 850 420 430 393 37
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older		 6909 2134 4775 4496 279
Don't know or not reported 2731 1106 1624 1482 142

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan		 106 4 102 102 0
Other government grant or subsidy 48 12 37 37 0
Property tax relief 827 431 396 371 25
Subsidy from a non-profit corporation 5 0 5 5 0
None of the above benefits 7660 2522 5138 4767 371
Not reported 1862 703 1159 1096 63

Source of Property Benefits@1

With property benefits		 968 435 533 508 25
Federal government 117 28 89 89 0
State government 599 278 321 305 17
Local government 281 146 135 122 13
Non-profit corporation 5 0 5 5 0
Not reported 52 29 23 23 0
With no property benefits 7660 2522 5138 4767 371
Not reported 1862 703 1159 1096 63

Reason for Benefits@1

With property benefits		 968 435 533 508 25
Occupied by low- or moderate-income
individuals		 200 100 100 100 0
Occupied by elderly or disabled
individuals		 294 227 67 55 12
A historic structure 0 0 0 0 0
Located in a community development or
economic development area		 41 5 36 36 0
Covered by a Homestead Exemption 96 53 42 42 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 411 127 284 266 17
Not reported 76 31 44 44 0
With no property benefits 7660 2522 5138 4767 371
Not reported 1862 703 1159 1096 63

OWNER CHARACTERISTICS


Owner Status

1 owner		 3896 1819 2077 1952 126
2 owners 6451 1766 4685 4352 333
3 or more owners 142 75 67 67 0

Age of Owner

Under 25		 52 5 47 47 0
25 to 34 898 54 844 836 9
35 to 44 2134 146 1988 1947 41
45 to 54 2416 431 1985 1882 103
55 to 64 1837 684 1153 1015 138
65 to 74 1367 919 448 340 108
75 and over 1247 1144 104 62 41
Not reported 538 278 260 240 19
Median 53 69 47 46 60

Race of Owner

White alone		 9644 3482 6162 5731 431
Black or African American alone 469 118 350 335 15
American Indian or Alaska Native alone 36 19 16 16 0
Asian alone 297 30 267 258 9
Native Hawaiian or Other Pacific
Islander alone		 3 3 0 0 0
Two or more races 41 7 33 30 4

Sex of Owner

Male/Male and female co-owners		 8043 2354 5689 5324 365
Female 2447 1307 1140 1046 94

Hispanic/Latino Origin

Hispanic/Latino owner(s) only		 349 73 275 271 5
No Hispanic/Latino owner(s) 10141 3587 6554 6100 454

Veteran Status@1

Veteran		 2473 1235 1238 1110 128
Active member of Reserves or National
Guard for at least 6 years		 338 108 230 227 3
Persian Gulf War or after
(August 1990 to present)		 89 20 68 68 0
Vietnam or after
(August 1964 to July 1990)		 917 198 720 680 40
Korean conflict or after
(July 1950 to July 1964)		 748 477 271 204 66
World War II or after
(September 1940 to June 1950)		 651 572 79 53 26
Nonveteran 7307 2094 5213 4908 305
Not reported 710 331 378 353 26

Income

Less than $5,000		 1001 466 535 500 35
$5,000 to $9,999 181 130 51 39 12
$10,000 to $14,999 357 266 91 78 14
$15,000 to $19,999 372 232 139 132 7
$20,000 to $24,999 534 318 216 192 24
$25,000 to $29,999 476 222 254 213 41
$30,000 to $34,999 535 276 259 238 21
$35,000 to $39,999 514 169 345 313 32
$40,000 to $49,999 1028 392 635 582 54
$50,000 to $59,999 823 230 593 546 47
$60,000 to $79,999 1527 332 1195 1143 52
$80,000 to $99,999 921 163 759 707 52
$100,000 to $119,999 711 134 577 555 22
$120,000 or more 1509 330 1179 1132 46
Median 52998 33561 64939 66159 48155
Mean 72830 52697 83621 85417 58679

Owned Home Previously

Previously owned home		 4794 1593 3201 2993 208
Never owned home before 5244 1844 3400 3170 230
Not reported 452 223 228 208 21

RECURRING EXPENSES


Real Estate Tax

Acquired before 2000		 9558 3501 6057 5607 449
Less than $100 1205 456 749 716 33
$100 to $199 66 50 16 16 0
$200 to $299 51 37 14 14 0
$300 to $399 104 55 49 49 0
$400 to $499 133 95 38 38 0
$500 to $599 144 104 40 33 7
$600 to $699 150 75 74 66 8
$700 to $799 148 87 61 49 12
$800 to $899 189 85 104 93 11
$900 to $999 150 65 85 74 11
$1,000 to $1,249 638 256 382 348 34
$1,250 to $1,499 402 177 225 210 14
$1,500 to $1,999 944 378 567 524 43
$2,000 to $2,499 1014 341 673 600 73
$2,500 or more 4053 1113 2939 2737 203
Not reported 168 125 43 43 0
Median 2183 1691 2450 2462 2350
Mean 2687 2224 2947 2955 2842
Acquired 2000 and 2001 (part) 932 160 772 763 9

Real Estate Tax Per $1,000 Value

Acquired before 2000		 9558 3501 6057 5607 449
Less than $5 1392 545 847 810 37
$5 to $9 997 412 584 547 37
$10 to $14 1776 590 1186 1098 87
$15 to $19 1748 550 1198 1123 74
$20 to $24 1439 522 916 830 86
$25 to $29 866 266 601 549 51
$30 to $39 1123 481 643 606 36
$40 to $49 13 5 8 0 8
$50 to $59 11 0 11 0 11
$60 or more 25 5 20 0 20
Not reported or not computed 168 125 43 43 0
Median 17 16 17 16 19
Acquired 2000 and 2001 (part) 932 160 772 763 9
@1Detail does not add to total because more than one answer accepted.
@8May not add to total because not reported and not calculated are not included.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.


Go to Residential Finance Survey: 2001 Detailed Regional Tables
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Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: December 07, 2005