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Residential Finance Survey - Detailed Regional Tables: 2001

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Residential Finance Survey: 2001 - United States
Table 4-1a. Mortgage Status, 1-Housing-Unit Rental and Vacant 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.
Monthly Rental Receipts, Rental Receipts as Percent of Value, Rental Vacancy Losses as Percent of Potential Receipts, and Real Estate Tax as Percent of Rental Receipts acquired before 2000 exclude properties with less than half of units in rental market during all of year preceding survey and cooperatively owned apartments^^

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		 9855 5618 4237 4129 108

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs		 7116 3772 3344 3259 85
In central cities 2975 1641 1335 1293 42
Not in central cities 4141 2132 2009 1966 43
Outside MAs 2739 1846 893 870 23

Manner of Acquisition

By purchase		 7821 3931 3890 3799 91
Placed one new mortgage 4965 1517 3448 3373 75
Placed two or more new mortgages 118 45 73 73 0
Assumed mortgage(s) already on property 465 193 272 267 6
Assumed mortgage(s) already on property
and placed new mortgage		 32 25 7 7 0
Borrowed using assets other than this
property as collateral		 179 144 35 25 11
Paid all cash-no borrowing 1904 1872 32 32 0
Other manner 157 135 23 23 0
By inheritance or gift 1203 1090 113 96 16
By divorce 37 31 6 6 0
By tax free exchange of
other property		 24 16 8 8 0
By foreclosure or assignment 95 74 21 21 0
By some other manner 118 67 50 50 0
Not reported 556 408 148 148 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)		 3041 985 2056 2043 14
Sale of stock or other partnership
shares for this project		 41 13 29 29 0
Sale of previously owned stocks,
shares, or other securities		 51 5 46 46 0
Sale of land or other real estate 256 66 191 191 0
Owner's cash, bank deposits,
share accounts, or bonds		 1575 438 1137 1137 0
Borrowing from a retirement plan 81 26 55 55 0
Borrowing using assets other than this
property as collateral		 185 59 126 126 0
Proceeds from an insurance policy 23 11 13 13 0
From a state or local government source 0 0 0 0 0
From a non-profit organization 5 5 0 0 0
Proceeds from sale of tax credits 6 0 6 6 0
From parents or relatives 158 57 101 101 0
Other cash source 120 59 61 61 0
Non-cash source 23 0 23 23 0
No downpayment required 415 154 261 247 14
Not reported 329 162 167 167 0
Other properties 6557 4482 2075 1981 94
Not reported 258 152 106 106 0

Year Property Acquired

1999 to 2001 (part)		 1874 792 1082 1069 13
1997 and 1998 1110 463 647 647 0
1995 and 1996 948 427 521 509 12
1990 to 1994 1580 855 725 720 5
1985 to 1989 1341 744 597 575 23
1980 to 1984 803 564 239 227 12
1975 to 1979 693 489 204 204 0
1970 to 1974 562 436 126 107 19
1969 or earlier 943 848 95 70 24

Building and Land Acquisition

Acquired at same time		 8698 4832 3866 3759 108
Not acquired at same time 649 454 196 196 0
Land not owned by building owner 109 63 47 47 0
Not reported 398 270 128 128 0

Property New or Previously Owned When
Acquired

Acquired by purchase		 7821 3931 3890 3799 91
New 1250 652 598 567 31
Previously owned 6404 3196 3208 3148 60
As residential property 6328 3127 3201 3141 60
Converted from nonresidential use 76 69 7 7 0
Other 39 19 20 20 0
Not reported 129 64 65 65 0
Other properties 1478 1279 199 182 16
Not reported 556 408 148 148 0

Year Structure Built

1999 to March 2000		 271 133 138 138 0
1997 and 1998 258 105 152 152 0
1995 and 1996 209 85 124 124 0
1990 to 1994 438 173 265 265 0
1980 to 1989 950 395 554 554 0
1970 to 1979 1287 598 689 676 13
1960 to 1969 1236 722 515 472 42
1950 to 1959 1787 1075 712 695 17
1940 to 1949 1279 852 427 415 13
1939 or earlier 2140 1480 660 637 23

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)		 2288 721 1567 1560 7
Less than $20,000 293 178 115 115 0
$20,000 to $39,999 316 90 226 226 0
$40,000 to $59,999 292 88 204 204 0
$60,000 to $79,999 302 68 234 228 7
$80,000 to $99,999 234 70 163 163 0
$100,000 to $124,999 165 40 125 125 0
$125,000 to $149,999 235 65 169 169 0
$150,000 to $174,999 83 36 48 48 0
$175,000 to $199,999 129 33 96 96 0
$200,000 to $249,999 95 7 88 88 0
$250,000 to $299,999 50 6 44 44 0
$300,000 to $499,999 48 21 27 27 0
$500,000 or more 47 19 27 27 0
Median 76117 61513 80528 80933 70000
Mean 103232 96406 106375 106508 75000
Other properties 7567 4897 2670 2569 101

Value

Less than $20,000		 855 729 126 120 6
$20,000 to $39,999 1400 1058 341 322 20
$40,000 to $59,999 1351 836 515 510 5
$60,000 to $79,999 1427 769 658 633 25
$80,000 to $99,999 1188 628 560 542 18
$100,000 to $124,999 830 356 474 469 5
$125,000 to $149,999 544 254 290 284 6
$150,000 to $174,999 512 233 279 268 11
$175,000 to $199,999 280 84 196 196 0
$200,000 to $249,999 450 159 291 286 5
$250,000 to $299,999 315 162 153 147 7
$300,000 to $499,999 469 221 248 248 0
$500,000 or more 234 128 106 106 0
Median 78533 64819 97113 97746 78826
Mean 112774 98225 132065 133045 94487

Purchase Price as Percent of Value@8

Acquired by purchase		 7821 3931 3890 3799 91
Purchased 1997 to 2001 (part) 2288 721 1567 1560 7
Less than 60 percent 295 63 231 231 0
60 to 69 percent 202 31 171 171 0
70 to 79 percent 276 40 236 236 0
80 to 99 percent 609 59 549 549 0
100 percent or more 902 522 380 373 7
Median 92 2965 85 85 4651
Purchased 1990 to 1996 (part) 2039 864 1175 1163 12
Less than 40 percent 252 139 113 106 7
40 to 59 percent 405 204 201 201 0
60 to 79 percent 599 177 421 416 5
80 to 99 percent 411 164 247 247 0
100 percent or more 368 175 193 193 0
Median 72 70 73 73 34
Purchased 1989 or earlier 3494 2346 1148 1075 73
Less than 20 percent 542 408 134 121 13
20 to 39 percent 777 601 176 151 25
40 to 59 percent 733 430 303 285 18
60 to 79 percent 692 428 265 253 12
80 to 99 percent 286 164 122 122 0
100 percent or more 438 289 148 143 6
Median 51 47 57 59 39
Not acquired by purchase 2034 1687 347 331 16

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000		 3560 1671 1888 1829 59
Less than $500 153 113 40 40 0
$500 to $999 191 115 77 70 7
$1,000 to $2,499 786 426 360 335 25
$2,500 to $4,999 830 408 422 399 22
$5,000 to $7,499 721 293 428 428 0
$7,500 to $9,999 136 30 106 106 0
$10,000 to $14,999 245 123 121 121 0
$15,000 to $19,999 161 69 93 93 0
$20,000 to $29,999 149 37 111 106 5
$30,000 or more 188 58 130 130 0
Median 4458 3617 5267 5411 2363
Mean 11401 13393 9638 9814 4206
Properties with no capital
improvements between 1998 and 2000		 4807 3022 1786 1750 36
Capital improvements not
reported		 1488 925 563 550 13

Monthly Rental Receipts

Acquired before 2000		 8708 5078 3629 3528 102
Less than $100 302 210 91 86 6
$100 to $199 463 350 112 112 0
$200 to $299 628 501 127 122 5
$300 to $399 846 545 301 295 7
$400 to $499 892 497 395 364 31
$500 to $599 866 488 378 365 13
$600 to $799 1120 496 624 624 0
$800 to $999 723 358 365 360 6
$1000 or more 1537 598 940 928 12
No rental receipts 1331 1035 296 272 24
Median 564 484 684 691 470
Mean 1361 1138 1674 1708 489
Acquired 2000 and 2001 (part) 1147 540 608 602 6

Rental Receipts as Percent of Value@8

Acquired before 2000		 8708 5078 3629 3528 102
Less than 5 percent 678 362 316 304 11
5 to 9 percent 2199 1013 1185 1161 25
10 to 14 percent 3572 2053 1519 1489 30
15 to 19 percent 282 178 104 98 6
20 to 24 percent 138 89 49 49 0
25 to 29 percent 69 46 23 23 0
30 to 39 percent 38 33 5 5 0
40 percent or more 140 99 41 41 0
Median 11 11 10 10 10
Acquired 2000 and 2001 (part) 1147 540 608 602 6

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000		 8708 5078 3629 3528 102
Less than 1.0 percent 2729 1418 1310 1291 19
1.0 to 2.9 percent 12 0 12 12 0
3.0 to 4.9 percent 30 15 15 15 0
5.0 to 6.9 percent 30 6 24 24 0
7.0 to 8.9 percent 147 51 96 96 0
9.0 to 10.9 percent 58 32 26 26 0
11.0 to 12.9 percent 34 0 34 34 0
13.0 to 14.9 percent 63 38 25 25 0
15.0 percent or more 710 403 307 282 25
Not reported or not computed 4895 3115 1780 1723 57
Median 0.7 0.7 0.7 0.7 24.2
Acquired 2000 and 2001 (part) 1147 540 608 602 6

Age Restrictions

Property restricted to people
age 55 or older		 1123 705 418 403 15
Property not restricted to people
age 55 or older		 8221 4582 3640 3559 81
Not reported 511 331 179 168 12

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan		 19 0 19 19 0
Government rental subsidy 148 75 73 73 0
Government grant 19 7 13 13 0
Property tax relief 91 54 37 32 5
Federal income tax credit for
low-income, old or historic properties		 9 9 0 0 0
Accelerated federal income tax
depreciation for low- and
moderate-income properties		 0 0 0 0 0
Subsidy from a non-profit corporation 25 18 8 8 0
None of the above benefits 8514 4829 3685 3588 96
Not reported 1029 626 403 397 6

Source of Property Benefits@1

With property benefits		 312 163 150 144 5
Federal government 112 57 55 55 0
State government 79 29 50 50 0
Local government 119 72 47 42 5
Non-profit corporation 25 18 8 8 0
Not reported 13 8 5 5 0
With no property benefits 8514 4829 3685 3588 96
Not reported 1029 626 403 397 6

Reason for Benefits@1

With property benefits		 312 163 150 144 5
Occupied by low- or moderate-income
individuals		 182 100 82 76 5
Occupied by elderly or disabled
individuals		 37 25 11 6 5
A historic structure 9 9 0 0 0
Located in a community development or
economic development area		 0 0 0 0 0
Covered by a Homestead Exemption 20 20 0 0 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 7 0 7 7 0
Other reason 75 26 50 44 5
Not reported 19 8 11 11 0
With no property benefits 8514 4829 3685 3588 96
Not reported 1029 626 403 397 6

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)		 8154 4562 3592 3491 101
Limited partnership 551 309 242 236 7
Joint venture 46 16 30 30 0
General partnership 104 54 50 50 0
Life insurance company 20 6 14 14 0
Depository institution 0 0 0 0 0
Public real estate investment trust 34 23 11 11 0
Private real estate investment trust 19 15 5 5 0
Corporation - other than real estate
investment trust		 448 270 177 177 0
Housing cooperative organization 34 30 5 5 0
Non-profit or church-related institution 218 165 54 54 0
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 226 169 57 57 0

RECURRING EXPENSES


Real Estate Tax

Acquired before 2000		 8708 5078 3629 3528 102
Less than $100 663 523 140 130 11
$100 to $199 363 297 65 65 0
$200 to $299 497 420 77 77 0
$300 to $399 714 507 207 201 7
$400 to $499 500 283 216 210 6
$500 to $599 626 377 248 216 32
$600 to $699 434 221 213 195 18
$700 to $799 411 248 164 164 0
$800 to $899 462 205 257 257 0
$900 to $999 239 124 115 115 0
$1,000 to $1,249 799 325 473 468 6
$1,250 to $1,499 455 218 237 237 0
$1,500 to $1,999 774 336 439 433 6
$2,000 to $2,499 527 249 278 271 7
$2,500 or more 911 452 459 449 10
Not reported 334 293 40 40 0
Median 795 596 1048 1061 585
Mean 2111 2660 1379 1391 964
Acquired 2000 and 2001 (part) 1147 540 608 602 6

Real Estate Tax Per $1,000 Value

Acquired before 2000		 8708 5078 3629 3528 102
Less than $5 969 660 309 297 11
$5 to $9 3312 1724 1589 1545 44
$10 to $14 1547 883 663 646 17
$15 to $19 894 467 427 415 12
$20 to $24 576 349 228 217 11
$25 to $29 369 220 149 143 6
$30 to $39 672 458 214 214 0
$40 to $49 18 13 5 5 0
$50 to $59 0 0 0 0 0
$60 or more 8 2 6 6 0
Not reported or not computed 343 303 40 40 0
Median 10 10 10 10 9
Acquired 2000 and 2001 (part) 1147 540 608 602 6

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000		 8708 5078 3629 3528 102
Less than 5 percent 640 428 211 206 5
5 to 9 percent 2207 1150 1057 1038 19
10 to 14 percent 1474 723 751 708 43
15 to 19 percent 926 453 474 474 0
20 to 24 percent 519 225 294 294 0
25 to 29 percent 504 319 186 181 5
30 to 34 percent 171 83 88 88 0
35 to 39 percent 90 46 44 44 0
40 percent or more 299 202 96 96 0
Not reported or not computed 1877 1450 428 399 29
Median 12 12 12 12 11
Acquired 2000 and 2001 (part) 1147 540 608 602 6
@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.
@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