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Residential Finance Survey - Detailed Regional Tables: 2001

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Residential Finance Survey: 2001 - South
Table 2-1d. 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		 20447 7258 13189 12735 454

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs		 15587 4847 10740 10376 364
In central cities 5145 1849 3296 3193 104
Not in central cities 10442 2998 7444 7184 260
Outside MAs 4860 2411 2449 2359 90

Manner of Acquisition

By purchase		 18881 6164 12717 12320 397
Placed one new mortgage 14818 3284 11534 11259 275
Placed two or more new mortgages 471 95 376 376 0
Assumed mortgage(s) already on property 730 317 412 381 32
Assumed mortgage(s) already on property
and placed new mortgage		 134 53 82 72 10
Borrowed using assets other than this
property as collateral		 265 204 61 45 16
Paid all cash-no borrowing 2312 2096 217 155 62
Other manner 151 115 36 32 4
By inheritance or gift 1238 927 311 255 56
By divorce 62 41 21 21 0
By some other manner 65 42 22 22 0
Not reported 200 84 117 117 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)		 7964 1192 6772 6694 78
Sale of previous home 2551 520 2031 1993 38
Sale of other real property or other
investments		 422 103 319 315 4
Savings 3854 442 3412 3374 38
Borrowing from a retirement plan 296 8 289 289 0
Borrowing using assets other than this
property as collateral		 181 0 181 174 7
Proceeds from an insurance policy 33 6 28 28 0
Payments in a lease-purchase agreement 66 13 52 52 0
From a state or local government source 123 9 114 110 4
From a non-profit organization 19 0 19 19 0
From parents or relatives 720 54 665 665 0
Other 51 4 47 47 0
No downpayment required 752 126 626 617 10
Not reported 192 62 131 131 0
Other properties 12381 6030 6350 5975 376
Not reported 102 36 66 66 0

Year Property Acquired

1999 to 2001 (part)		 3917 683 3234 3207 27
1997 and 1998 2652 403 2249 2228 21
1995 and 1996 1962 442 1520 1473 47
1990 to 1994 3394 754 2640 2579 61
1985 to 1989 2265 765 1500 1430 71
1980 to 1984 1366 596 771 740 30
1975 to 1979 1397 776 621 569 52
1970 to 1974 1109 740 369 318 51
1969 or earlier 2384 2099 285 191 94

Building and Land Acquisition

Acquired at same time		 17185 5538 11646 11291 355
Not acquired at same time 2851 1548 1303 1231 73
Land not owned by building owner 176 68 108 104 4
Not reported 236 104 131 109 22

Property New or Previously Occupied When
Acquired

Acquired by purchase		 18881 6164 12717 12320 397
New 6538 2647 3890 3761 129
Previously occupied by someone else 12228 3477 8751 8490 262
Converted from non-residential use 24 15 8 8 0
Other 11 0 11 11 0
Not reported 81 25 56 50 7
Other properties 1365 1010 355 299 56
Not reported 200 84 117 117 0

Year Structure Built

1999 to March 2000		 929 160 769 769 0
1997 and 1998 1167 152 1016 1003 13
1995 and 1996 993 146 846 828 18
1990 to 1994 1898 383 1515 1492 23
1980 to 1989 3896 977 2918 2858 60
1970 to 1979 3891 1427 2464 2370 94
1960 to 1969 2860 1458 1402 1309 93
1950 to 1959 2252 1151 1101 1044 56
1940 to 1949 1047 622 425 396 29
1939 or earlier 1514 783 732 665 67

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)		 6141 822 5319 5284 35
Less than $20,000 255 125 130 127 3
$20,000 to $39,999 400 104 296 292 4
$40,000 to $59,999 559 61 498 492 6
$60,000 to $79,999 869 109 760 760 0
$80,000 to $99,999 889 78 812 808 4
$100,000 to $124,999 773 81 692 692 0
$125,000 to $149,999 757 81 676 670 6
$150,000 to $174,999 524 69 455 451 4
$175,000 to $199,999 253 24 229 224 4
$200,000 to $249,999 334 29 305 301 4
$250,000 to $299,999 219 9 210 210 0
$300,000 to $499,999 230 28 202 202 0
$500,000 or more 77 24 53 53 0
Median 103160 83133 105895 105880 126774
Mean 126887 117810 128290 128398 111811
Other properties 14306 6436 7870 7452 419

Value

Less than $20,000		 707 570 137 130 7
$20,000 to $39,999 1413 956 457 430 28
$40,000 to $59,999 2314 1066 1249 1190 58
$60,000 to $79,999 2876 1091 1786 1730 56
$80,000 to $99,999 2757 809 1948 1892 56
$100,000 to $124,999 2394 736 1658 1587 71
$125,000 to $149,999 2118 475 1643 1626 18
$150,000 to $174,999 1637 434 1203 1161 42
$175,000 to $199,999 928 217 710 707 4
$200,000 to $249,999 1060 250 809 769 40
$250,000 to $299,999 779 199 579 560 20
$300,000 to $499,999 1051 303 748 698 50
$500,000 or more 413 153 261 257 3
Median 101625 79026 115342 115692 107537
Mean 132719 114499 142745 142977 136244

Purchase Price as Percent of Value@8

Acquired by purchase		 18881 6164 12717 12320 397
Purchased 1997 to 2001 (part) 6141 822 5319 5284 35
Less than 60 percent 521 168 353 349 4
60 to 69 percent 393 68 325 322 3
70 to 79 percent 606 84 523 511 12
80 to 99 percent 3379 358 3021 3006 16
100 percent or more 1241 145 1097 1097 0
Median 89 85 90 90 79
Purchased 1990 to 1996 (part) 4972 989 3983 3893 89
Less than 40 percent 325 132 193 171 22
40 to 59 percent 616 185 431 417 15
60 to 79 percent 1804 340 1465 1449 15
80 to 99 percent 1613 281 1331 1303 29
100 percent or more 600 48 553 544 9
Median 77 70 79 79 70
Purchased 1989 or earlier 7769 4353 3416 3143 273
Less than 20 percent 1339 978 361 284 77
20 to 39 percent 1681 1069 612 557 55
40 to 59 percent 1806 943 863 822 41
60 to 79 percent 1836 988 848 777 71
80 to 99 percent 544 210 334 324 10
100 percent or more 543 149 395 375 19
Median 49 43 57 58 42
Not acquired by purchase 1566 1094 471 415 56

Value-Income Ratio

Less than 1.0		 2131 987 1144 1104 40
1.0 to 1.4 3070 837 2233 2145 88
1.5 to 1.9 3214 805 2409 2338 71
2.0 to 2.4 2791 766 2025 1973 52
2.5 to 2.9 1937 581 1356 1322 34
3.0 to 3.4 1221 425 796 767 29
3.5 to 3.9 677 226 451 431 20
4.0 or more 3307 1709 1598 1488 110
Not reported or not computed 2099 923 1177 1168 9
Median 2.1 2.4 2.1 2.0 2.2

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000		 9685 2906 6779 6576 203
Less than $500 261 145 116 116 0
$500 to $999 373 145 228 225 3
$1,000 to $2,499 1829 520 1309 1257 52
$2,500 to $4,999 1940 756 1184 1162 22
$5,000 to $7,499 1867 477 1390 1349 41
$7,500 to $9,999 458 118 340 336 3
$10,000 to $14,999 1114 323 791 773 18
$15,000 to $19,999 517 118 399 373 26
$20,000 to $29,999 687 148 539 521 19
$30,000 or more 639 156 483 465 19
Median 5588 4625 5994 5980 6468
Mean 11016 11369 10865 10784 13500
Properties with no capital
improvements between 1998 and 2000		 8256 3200 5056 4868 188
Capital improvements not
reported		 2506 1151 1354 1292 63

Age Restrictions

Property located in subdivision
restricted to people age 55 or older		 1359 291 1068 1052 16
Property located in subdivision not
restricted to people age 55 or older		 17881 6291 11590 11182 408
Not reported 1207 677 531 501 29

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older		 2330 1164 1166 1087 80
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older		 11707 3524 8183 8005 179
Don't know or not reported 6410 2570 3839 3644 195

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan		 216 13 203 199 4
Other government grant or subsidy 60 12 47 47 0
Property tax relief 1448 658 790 768 22
Subsidy from a non-profit corporation 40 8 32 32 0
None of the above benefits 14531 4981 9551 9212 339
Not reported 4192 1598 2594 2506 89

Source of Property Benefits@1

With property benefits		 1724 680 1044 1017 26
Federal government 237 42 196 192 4
State government 650 277 374 366 8
Local government 763 363 399 385 15
Non-profit corporation 40 8 32 32 0
Not reported 143 49 94 90 4
With no property benefits 14531 4981 9551 9212 339
Not reported 4192 1598 2594 2506 89

Reason for Benefits@1

With property benefits		 1724 680 1044 1017 26
Occupied by low- or moderate-income
individuals		 196 30 166 162 4
Occupied by elderly or disabled
individuals		 424 308 117 109 7
A historic structure 12 0 12 12 0
Located in a community development or
economic development area		 54 16 38 38 0
Covered by a Homestead Exemption 1163 467 697 681 15
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 11 0 11 11 0
Other reason 70 7 63 58 4
Not reported 58 10 48 44 4
With no property benefits 14531 4981 9551 9212 339
Not reported 4192 1598 2594 2506 89

OWNER CHARACTERISTICS


Owner Status

1 owner		 8236 3795 4441 4258 182
2 owners 11982 3361 8621 8350 271
3 or more owners 229 102 127 127 0

Age of Owner

Under 25		 180 30 150 150 0
25 to 34 1982 116 1866 1859 8
35 to 44 4037 484 3553 3499 54
45 to 54 4506 928 3579 3505 74
55 to 64 3440 1290 2150 2005 146
65 to 74 2814 1863 951 849 102
75 and over 2134 1815 319 266 52
Not reported 1354 733 620 602 19
Median 52 67 47 47 61

Race of Owner

White alone		 17158 6198 10959 10535 424
Black or African American alone 2738 949 1788 1776 12
American Indian or Alaska Native alone 74 18 56 52 4
Asian alone 352 76 276 270 6
Native Hawaiian or Other Pacific
Islander alone		 12 4 8 8 0
Two or more races 115 13 101 94 7

Sex of Owner

Male/Male and female co-owners		 15567 4909 10659 10311 348
Female 4880 2350 2530 2424 106

Hispanic/Latino Origin

Hispanic/Latino owner(s) only		 1607 594 1013 980 34
No Hispanic/Latino owner(s) 18840 6664 12175 11756 420

Veteran Status@1

Veteran		 5252 2238 3013 2882 131
Active member of Reserves or National
Guard for at least 6 years		 838 280 558 547 11
Persian Gulf War or after
(August 1990 to present)		 492 31 461 458 3
Vietnam or after
(August 1964 to July 1990)		 2167 535 1631 1575 56
Korean conflict or after
(July 1950 to July 1964)		 1460 814 646 597 49
World War II or after
(September 1940 to June 1950)		 1281 1020 262 228 34
Nonveteran 13615 4255 9360 9070 289
Not reported 1581 765 816 783 33

Income

Less than $5,000		 2358 1108 1250 1238 13
$5,000 to $9,999 712 533 179 165 14
$10,000 to $14,999 948 648 300 283 17
$15,000 to $19,999 867 517 351 334 17
$20,000 to $24,999 889 512 377 364 13
$25,000 to $29,999 1113 386 727 683 44
$30,000 to $34,999 1111 393 719 677 41
$35,000 to $39,999 1056 479 576 549 27
$40,000 to $49,999 2007 621 1387 1327 59
$50,000 to $59,999 1881 513 1368 1327 41
$60,000 to $79,999 2809 613 2196 2128 68
$80,000 to $99,999 1794 322 1472 1428 44
$100,000 to $119,999 1035 227 808 784 24
$120,000 or more 1867 388 1479 1448 31
Median 45824 29045 55324 55629 46816
Mean 60064 47050 67226 67576 57413

Owned Home Previously

Previously owned home		 11331 3879 7452 7170 282
Never owned home before 7925 2743 5182 5041 141
Not reported 1191 636 555 524 30

RECURRING EXPENSES


Real Estate Tax

Acquired before 2000		 18168 6835 11333 10896 437
Less than $100 4715 2061 2654 2588 66
$100 to $199 594 359 235 220 15
$200 to $299 684 346 338 321 17
$300 to $399 857 386 472 451 21
$400 to $499 720 272 448 428 20
$500 to $599 789 315 474 457 17
$600 to $699 731 280 451 432 19
$700 to $799 722 296 426 422 4
$800 to $899 703 285 418 381 36
$900 to $999 501 167 334 318 16
$1,000 to $1,249 1554 435 1120 1043 76
$1,250 to $1,499 732 209 523 497 26
$1,500 to $1,999 1283 301 982 971 11
$2,000 to $2,499 1002 268 734 704 31
$2,500 or more 2121 466 1655 1601 54
Not reported 459 389 70 62 7
Median 668 426 832 826 901
Mean 1107 835 1263 1266 1197
Acquired 2000 and 2001 (part) 2279 423 1856 1839 17

Real Estate Tax Per $1,000 Value

Acquired before 2000		 18168 6835 11333 10896 437
Less than $5 6486 2801 3684 3566 118
$5 to $9 4803 1585 3218 3057 161
$10 to $14 3306 1036 2270 2188 82
$15 to $19 1362 482 879 859 20
$20 to $24 774 212 562 539 23
$25 to $29 258 97 161 161 0
$30 to $39 684 218 466 460 6
$40 to $49 14 0 14 4 10
$50 to $59 15 10 5 0 5
$60 or more 7 4 3 0 3
Not reported or not computed 459 389 70 62 7
Median 7 6 8 8 8
Acquired 2000 and 2001 (part) 2279 423 1856 1839 17
@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