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Residential Finance Survey - Detailed Regional Tables: 2001

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Residential Finance Survey: 2001 - South
Table 3-1d. Mortgage Status, 2- to 4-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

2- to 4-housing-unit properties		 208 95 113 112 1

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs		 166 76 90 89 1
In central cities 68 33 35 33 1
Not in central cities 98 43 55 55 0
Outside MAs 42 19 23 23 0

Manner of Acquisition

By purchase		 192 79 113 111 1
Placed one new mortgage 134 35 99 98 1
Placed two or more new mortgages 9 2 8 8 0
Assumed mortgage(s) already on property 6 5 1 1 0
Assumed mortgage(s) already on property
and placed new mortgage		 2 0 2 2 0
Borrowed using assets other than this
property as collateral		 13 11 3 3 0
Paid all cash-no borrowing 24 24 0 0 0
Other manner 3 3 0 0 0
By inheritance or gift 11 10 0 0 0
By divorce 0 0 0 0 0
By some other manner 0 0 0 0 0
Not reported 5 5 0 0 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)		 81 21 60 60 0
Sale of previous home 21 4 17 17 0
Sale of other real property or other
investments		 5 2 3 3 0
Savings 35 4 31 31 0
Borrowing from a retirement plan 1 1 0 0 0
Borrowing using assets other than this
property as collateral		 1 1 0 0 0
Proceeds from an insurance policy 0 0 0 0 0
Payments in a lease-purchase agreement 0 0 0 0 0
From a state or local government source 0 0 0 0 0
From a non-profit organization 0 0 0 0 0
From parents or relatives 15 3 12 12 0
Other 0 0 0 0 0
No downpayment required 14 9 4 4 0
Not reported 4 2 2 2 0
Other properties 122 69 53 52 1
Not reported 5 5 0 0 0

Year Property Acquired

1999 to 2001 (part)		 53 18 35 35 0
1997 and 1998 31 9 21 21 0
1995 and 1996 8 4 4 4 0
1990 to 1994 31 8 24 24 0
1985 to 1989 22 9 13 13 0
1980 to 1984 9 8 2 2 0
1975 to 1979 16 7 9 9 0
1970 to 1974 7 7 1 1 0
1969 or earlier 30 27 4 3 1

Building and Land Acquisition

Acquired at same time		 168 68 100 99 1
Not acquired at same time 30 20 10 10 0
Land not owned by building owner 6 4 2 2 0
Not reported 3 3 0 0 0

Property New or Previously Occupied When
Acquired

Acquired by purchase		 192 79 113 111 1
New 50 34 16 16 0
Previously occupied by someone else 140 44 96 95 1
Converted from non-residential use 2 2 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 11 10 0 0 0
Not reported 5 5 0 0 0

Year Structure Built

1999 to March 2000		 11 2 9 9 0
1997 and 1998 10 3 7 7 0
1995 and 1996 1 0 1 1 0
1990 to 1994 13 5 8 8 0
1980 to 1989 39 18 21 21 0
1970 to 1979 32 13 20 20 0
1960 to 1969 23 17 6 6 0
1950 to 1959 29 17 12 12 0
1940 to 1949 19 10 9 9 0
1939 or earlier 31 11 20 18 1

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)		 74 18 56 56 0
Less than $20,000 6 4 2 2 0
$20,000 to $39,999 26 3 23 23 0
$40,000 to $59,999 25 10 14 14 0
$60,000 to $79,999 9 0 9 9 0
$80,000 to $99,999 4 0 4 4 0
$100,000 to $124,999 4 0 4 4 0
$125,000 to $149,999 0 0 0 0 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 0 0 0 0 0
Median 44016 42813 44869 44869 20000-
Mean 45299 35826 48281 48281 0
Other properties 135 77 57 56 1

Value

Less than $20,000		 0 0 0 0 0
$20,000 to $39,999 18 12 6 6 0
$40,000 to $59,999 22 12 9 9 0
$60,000 to $79,999 31 17 15 15 0
$80,000 to $99,999 31 9 22 22 0
$100,000 to $124,999 33 22 11 11 0
$125,000 to $149,999 26 1 25 25 0
$150,000 to $174,999 8 3 6 6 0
$175,000 to $199,999 2 0 2 2 0
$200,000 to $249,999 14 10 4 4 0
$250,000 to $299,999 9 0 9 9 0
$300,000 to $499,999 11 9 2 2 0
$500,000 or more 1 0 1 0 1
Median 100976 93981 108945 107444 500000+
Mean 123393 115168 130317 121163 886500

Value Per Housing Unit@8

Less than $20,000		 20 14 6 6 0
$20,000 to $39,999 68 36 32 32 0
$40,000 to $59,999 66 28 38 38 0
$60,000 to $79,999 23 2 21 21 0
$80,000 to $99,999 1 0 1 1 0
$100,000 to $124,999 10 7 3 3 0
$125,000 to $149,999 9 0 9 9 0
$150,000 to $174,999 5 5 0 0 0
$175,000 to $199,999 7 5 2 2 0
$200,000 to $249,999 1 0 1 0 1
$250,000 to $299,999 0 0 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 0 0 0 0 0
Median 44940 38989 49518 49161 225000
Mean 55691 53624 57431 55443 221625

Purchase Price as Percent of Value@8

Acquired by purchase		 192 79 113 111 1
Purchased 1997 to 2001 (part) 74 18 56 56 0
Less than 60 percent 17 6 11 11 0
60 to 69 percent 4 0 4 4 0
70 to 79 percent 2 0 2 2 0
80 to 99 percent 34 8 26 26 0
100 percent or more 16 3 13 13 0
Median 88 85 88 88 60-
Purchased 1990 to 1996 (part) 37 9 28 28 0
Less than 40 percent 11 1 9 9 0
40 to 59 percent 3 0 3 3 0
60 to 79 percent 9 4 5 5 0
80 to 99 percent 8 1 7 7 0
100 percent or more 6 3 3 3 0
Median 71 78 66 66 40-
Purchased 1989 or earlier 82 53 29 28 1
Less than 20 percent 16 12 4 2 1
20 to 39 percent 14 10 4 4 0
40 to 59 percent 13 9 5 5 0
60 to 79 percent 27 18 9 9 0
80 to 99 percent 5 2 3 3 0
100 percent or more 6 2 5 5 0
Median 56 48 65 66 20-
Not acquired by purchase 16 16 0 0 0

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000		 91 39 52 51 1
Less than $500 2 2 0 0 0
$500 to $999 4 4 0 0 0
$1,000 to $2,499 18 5 13 13 0
$2,500 to $4,999 17 13 5 5 0
$5,000 to $7,499 17 4 13 13 0
$7,500 to $9,999 5 0 5 5 0
$10,000 to $14,999 9 0 9 9 0
$15,000 to $19,999 1 1 0 0 0
$20,000 to $29,999 9 8 0 0 0
$30,000 or more 10 2 8 6 1
Median 5720 4339 6637 6504 30000+
Mean 10979 9157 12341 11252 53400
Properties with no capital
improvements between 1998 and 2000		 80 37 43 43 0
Capital improvements not
reported		 37 19 17 17 0

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000		 91 39 52 51 1
Less than $500 8 5 3 3 0
$500 to $999 9 5 5 5 0
$1,000 to $2,499 29 14 15 15 0
$2,500 to $4,999 17 3 14 14 0
$5,000 to $7,499 10 2 8 8 0
$7,500 to $9,999 1 0 1 1 0
$10,000 to $14,999 11 8 3 1 1
$15,000 to $19,999 0 0 0 0 0
$20,000 to $29,999 2 2 0 0 0
$30,000 or more 4 0 4 4 0
Median 2446 1999 3149 3030 12500
Mean 4821 4346 5176 4959 13350
Properties with no capital
improvements between 1998 and 2000		 80 37 43 43 0
Capital improvements not
reported		 37 19 17 17 0

Age Restrictions

Property located in subdivision
restricted to people age 55 or older		 6 6 0 0 0
Property located in subdivision not
restricted to people age 55 or older		 184 77 108 106 1
Not reported 18 13 5 5 0

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older		 34 19 15 15 0
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older		 118 43 75 74 1
Don't know or not reported 56 33 23 23 0

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan		 4 0 4 4 0
Other government grant or subsidy 0 0 0 0 0
Property tax relief 19 12 7 7 0
Subsidy from a non-profit corporation 0 0 0 0 0
None of the above benefits 145 63 82 81 1
Not reported 40 20 20 20 0

Source of Property Benefits@1

With property benefits		 23 12 11 11 0
Federal government 5 2 4 4 0
State government 14 9 5 5 0
Local government 7 7 0 0 0
Non-profit corporation 0 0 0 0 0
Not reported 2 0 2 2 0
With no property benefits 145 63 82 81 1
Not reported 40 20 20 20 0

Reason for Benefits@1

With property benefits		 23 12 11 11 0
Occupied by low- or moderate-income
individuals		 5 2 2 2 0
Occupied by elderly or disabled
individuals		 4 4 0 0 0
A historic structure 0 0 0 0 0
Located in a community development or
economic development area		 0 0 0 0 0
Covered by a Homestead Exemption 17 10 7 7 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 2 0 2 2 0
Not reported 2 0 2 2 0
With no property benefits 145 63 82 81 1
Not reported 40 20 20 20 0

OWNER CHARACTERISTICS


Owner Status

1 owner		 92 47 45 44 1
2 owners 107 40 68 68 0
3 or more owners 9 9 0 0 0

Age of Owner

Under 25		 2 0 2 2 0
25 to 34 22 3 19 19 0
35 to 44 25 0 25 25 0
45 to 54 41 17 24 24 0
55 to 64 39 16 23 23 0
65 to 74 32 26 7 5 1
75 and over 29 24 5 5 0
Not reported 17 9 8 8 0
Median 56 67 47 47 70

Race of Owner

White alone		 179 79 100 99 1
Black or African American alone 24 12 13 13 0
American Indian or Alaska Native alone 2 2 0 0 0
Asian alone 0 0 0 0 0
Native Hawaiian or Other Pacific
Islander alone		 0 0 0 0 0
Two or more races 3 3 0 0 0

Sex of Owner

Male/Male and female co-owners		 139 60 80 80 0
Female 69 36 33 32 1

Hispanic/Latino Origin

Hispanic/Latino owner(s) only		 39 14 24 24 0
No Hispanic/Latino owner(s) 169 81 89 87 1

Veteran Status@1

Veteran		 38 25 13 13 0
Active member of Reserves or National
Guard for at least 6 years		 0 0 0 0 0
Persian Gulf War or after
(August 1990 to present)		 0 0 0 0 0
Vietnam or after
(August 1964 to July 1990)		 11 2 9 9 0
Korean conflict or after
(July 1950 to July 1964)		 13 9 4 4 0
World War II or after
(September 1940 to June 1950)		 16 14 2 2 0
Nonveteran 153 59 94 92 1
Not reported 17 10 6 6 0

Income

Less than $5,000		 24 13 11 11 0
$5,000 to $9,999 3 3 0 0 0
$10,000 to $14,999 12 9 3 3 0
$15,000 to $19,999 14 9 4 4 0
$20,000 to $24,999 27 16 11 11 0
$25,000 to $29,999 11 5 6 4 1
$30,000 to $34,999 11 6 5 5 0
$35,000 to $39,999 17 2 15 15 0
$40,000 to $49,999 20 7 13 13 0
$50,000 to $59,999 18 4 14 14 0
$60,000 to $79,999 17 7 11 11 0
$80,000 to $99,999 7 3 4 4 0
$100,000 to $119,999 10 0 10 10 0
$120,000 or more 16 9 7 7 0
Median 35569 24012 40616 41148 27500
Mean 54584 52300 56508 56841 29000

Owned Home Previously

Previously owned home		 105 49 56 55 1
Never owned home before 80 33 47 47 0
Not reported 23 13 10 10 0

RECURRING EXPENSES


Real Estate Tax Per Housing Unit

Acquired before 2000		 171 79 93 91 1
Less than $100 56 31 25 25 0
$100 to $199 3 0 3 3 0
$200 to $299 11 4 7 7 0
$300 to $399 15 3 12 12 0
$400 to $499 14 8 6 6 0
$500 to $599 12 5 7 7 0
$600 to $699 8 4 5 5 0
$700 to $799 13 6 7 7 0
$800 to $899 8 2 6 6 0
$900 to $999 6 1 4 4 0
$1,000 to $1,249 9 2 7 5 1
$1,250 to $1,499 5 3 1 1 0
$1,500 to $1,999 3 0 3 3 0
$2,000 to $2,499 0 0 0 0 0
$2,500 or more 3 3 0 0 0
Not reported 5 5 0 0 0
Median 385 336 398 393 1125
Mean 478 478 477 468 1099
Acquired 2000 and 2001 (part) 37 17 20 20 0

Real Estate Tax Per $1,000 Value

Acquired before 2000		 171 79 93 91 1
Less than $5 59 32 27 27 0
$5 to $9 38 6 32 31 1
$10 to $14 34 9 25 25 0
$15 to $19 12 9 3 3 0
$20 to $24 11 8 3 3 0
$25 to $29 5 3 1 1 0
$30 to $39 8 6 1 1 0
$40 to $49 0 0 0 0 0
$50 to $59 0 0 0 0 0
$60 or more 0 0 0 0 0
Not reported or not computed 5 5 0 0 0
Median 8 9 8 8 7
Acquired 2000 and 2001 (part) 37 17 20 20 0
@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.
@8May not add to total because not reported and not calculated are not included.
@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
Contact the Demographic Call Center Staff at 301-763-2422 or 1-866-758-1060 (toll free) or visit ask.census.gov for further information on Residential Finance Survey.

Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: December 07, 2005