Table 5-4: Effect of Different Down Payment Subsidies on Affordability Status of Families and Unrelated Individuals for a Modestly Priced Home, by Current Tenure and Type of Financing: United States, 1991 (Numbers in thousands. Data may not add to total due to rounding) -------------------------------------------------------------------------------------------------------------------------------------------------- | Cannot afford modestly priced home in area | |-----------------------------------------------------------------------------------------------------------------| | Families | | |-------------------------------------------------------------------------------------------| | | | |Male householder, no |Female householder, no | Unrelated | | Total | Married-couple |wife present |husband present | Individuals | |----------------------|---------------------|---------------------|------------------------|---------------------| Amount of down payment subsidy | Number | Percent | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -------------------------------|-----------|----------|----------|----------|----------|----------|-----------|------------|----------|----------| | | | | | | | | | | | USING CONVENTIONAL, FIXED-RATE,| | | | | | | | | | | 30-YEAR FINANCING | | | | | | | | | | | Total | | | | | | | | | | | No down payment subsidy........| 29,461 | 42.4 | 17,583 | 33.0 | 1,616 | 57.5 | 10,262 | 76.1 | 23,994 | 66.6 | $1,000 subsidy.................| 28,797 | 41.4 | 17,022 | 32.0 | 1,589 | 56.5 | 10,185 | 75.5 | 23,682 | 65.8 | $2,500 subsidy.................| 27,841 | 40.0 | 16,194 | 30.4 | 1,569 | 55.8 | 10,078 | 74.7 | 23,043 | 64.0 | $5,000 subsidy.................| 24,543 | 35.3 | 13,763 | 25.8 | 1,363 | 48.5 | 9,416 | 69.8 | 21,260 | 59.0 | $7,500 subsidy.................| 21,670 | 31.2 | 11,470 | 21.5 | 1,282 | 45.6 | 8,917 | 66.1 | 19,945 | 55.4 | $10,000 subsidy................| 19,843 | 28.5 | 9,995 | 18.8 | 1,223 | 43.5 | 8,625 | 64.0 | 18,746 | 52.1 | | | | | | | | | | | | Current owners | | | | | | | | | | | No down payment subsidy........| 12,374 | 24.8 | 8,454 | 20.2 | 694 | 38.5 | 3,226 | 52.0 | 6,691 | 41.0 | $1,000 subsidy.................| 11,873 | 23.8 | 8,035 | 19.2 | 676 | 37.5 | 3,162 | 51.0 | 6,551 | 40.2 | $2,500 subsidy.................| 11,251 | 22.6 | 7,486 | 17.9 | 673 | 37.3 | 3,092 | 49.8 | 6,250 | 38.3 | $5,000 subsidy.................| 9,981 | 20.0 | 6,507 | 15.5 | 559 | 31.0 | 2,914 | 47.0 | 5,758 | 35.3 | $7,500 subsidy.................| 8,598 | 17.2 | 5,367 | 12.8 | 539 | 29.9 | 2,692 | 43.4 | 5,303 | 32.5 | $10,000 subsidy................| 7,574 | 15.2 | 4,519 | 10.8 | 513 | 28.4 | 2,542 | 41.0 | 4,896 | 30.0 | | | | | | | | | | | | Current renters | | | | | | | | | | | No down payment subsidy........| 17,087 | 86.9 | 9,129 | 80.3 | 922 | 91.6 | 7,036 | 96.6 | 17,304 | 87.8 | $1,000 subsidy.................| 16,924 | 86.1 | 8,987 | 79.0 | 913 | 90.7 | 7,024 | 96.5 | 17,131 | 87.0 | $2,500 subsidy.................| 16,590 | 84.4 | 8,707 | 76.6 | 896 | 89.0 | 6,986 | 95.9 | 16,793 | 85.2 | $5,000 subsidy.................| 14,562 | 74.1 | 7,256 | 63.8 | 804 | 79.9 | 6,502 | 89.3 | 15,503 | 78.7 | $7,500 subsidy.................| 13,072 | 66.5 | 6,103 | 53.7 | 743 | 73.8 | 6,225 | 85.5 | 14,643 | 74.3 | $10,000 subsidy................| 12,270 | 62.4 | 5,476 | 48.2 | 710 | 70.6 | 6,083 | 83.5 | 13,850 | 70.3 | | | | | | | | | | | | | | | | | | | | | | | USING FHA, FIXED-RATE, 30-YEAR | | | | | | | | | | | FINANCING | | | | | | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | No down payment subsidy........| 27,301 | 39.3 | 15,643 | 29.4 | 1,572 | 55.9 | 10,087 | 74.8 | 23,324 | 64.8 | $1,000 subsidy.................| 26,436 | 38.0 | 14,917 | 28.0 | 1,520 | 54.1 | 9,999 | 74.2 | 22,727 | 63.1 | $2,500 subsidy.................| 23,695 | 34.1 | 12,819 | 24.1 | 1,363 | 48.5 | 9,513 | 70.5 | 21,312 | 59.2 | $5,000 subsidy.................| 20,541 | 29.5 | 10,325 | 19.4 | 1,252 | 44.5 | 8,965 | 66.5 | 19,649 | 54.6 | $7,500 subsidy.................| 18,894 | 27.2 | 9,061 | 17.0 | 1,201 | 42.7 | 8,632 | 64.0 | 18,652 | 51.8 | $10,000 subsidy................| 17,693 | 25.4 | 8,176 | 15.4 | 1,143 | 40.7 | 8,374 | 62.1 | 17,934 | 49.8 | | | | | | | | | | | | Current owners | | | | | | | | | | | No down payment subsidy........| 10,781 | 21.6 | 7,019 | 16.8 | 663 | 36.8 | 3,099 | 50.0 | 6,440 | 39.5 | $1,000 subsidy.................| 10,365 | 20.8 | 6,659 | 15.9 | 646 | 35.8 | 3,060 | 49.3 | 6,218 | 38.1 | $2,500 subsidy.................| 9,470 | 19.0 | 5,980 | 14.3 | 561 | 31.1 | 2,929 | 47.2 | 5,884 | 36.1 | $5,000 subsidy.................| 8,254 | 16.5 | 4,947 | 11.8 | 525 | 29.1 | 2,781 | 44.8 | 5,361 | 32.9 | $7,500 subsidy.................| 7,157 | 14.3 | 4,096 | 9.8 | 500 | 27.7 | 2,560 | 41.3 | 4,905 | 30.1 | $10,000 subsidy................| 6,329 | 12.7 | 3,459 | 8.3 | 456 | 25.3 | 2,414 | 38.9 | 4,650 | 28.5 | | | | | | | | | | | | Current renters | | | | | | | | | | | No down payment subsidy........| 16,520 | 84.0 | 8,624 | 75.8 | 909 | 90.3 | 6,988 | 96.0 | 16,884 | 85.7 | $1,000 subsidy.................| 16,071 | 81.7 | 8,258 | 72.6 | 874 | 86.9 | 6,938 | 95.3 | 16,509 | 83.8 | $2,500 subsidy.................| 14,225 | 72.3 | 6,839 | 60.1 | 802 | 79.7 | 6,583 | 90.4 | 15,428 | 78.3 | $5,000 subsidy.................| 12,287 | 62.5 | 5,377 | 47.3 | 727 | 72.2 | 6,183 | 84.9 | 14,289 | 72.5 | $7,500 subsidy.................| 11,737 | 59.7 | 4,965 | 43.7 | 701 | 69.6 | 6,072 | 83.4 | 13,747 | 69.8 | $10,000 subsidy................| 11,364 | 57.8 | 4,717 | 41.5 | 688 | 68.3 | 5,960 | 81.8 | 13,284 | 67.4 | | | | | | | | | | | | --------------------------------------------------------------------------------------------------------------------------------------------------