Table 2-5. Reason Median-Priced Home Cannot be Afforded for Families and Unrelated Individuals Below Affordability Level, by Current Tenure and Type of Financing: United States, 1993 (Numbers in 000's. Data may not add to total due to rounding.) ------------------------------------------------------------------------------------------------------------------------------------------- | Families | | |--------------------------------------------------------------------------------| | | | | | | | | | |Male householder, |Female householder,| | | Total | Married-couple |no wife present |no husband present |Unrelated individuals| |--------------------|-------------------|-------------------|-------------------|---------------------| Reason | Number | Percent | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -----------------------------------|----------|---------|---------|---------|---------|---------|---------|---------|-----------|---------| USING CONVENTIONAL, FIXED-RATE, | | | | | | | | | | | 30-YEAR FINANCING | | | | | | | | | | | | | | | | | | | | | | Total cannot afford house....| 35,329 | 100.0 | 21,185 | 100.0 | 2,129 | 100.0 | 12,015 | 100.0 | 27,557 | 100.0 | Cash problem only..................| 7,846 | 22.2 | 7,064 | 33.3 | 244 | 11.5 | 539 | 4.5 | 2,382 | 8.6 | Debt level too high..............| 3,907 | 11.1 | 3,528 | 16.7 | 122 | 5.7 | 257 | 2.1 | 902 | 3.3 | Cannot afford down payment.......| 3,939 | 11.2 | 3,536 | 16.7 | 122 | 5.7 | 281 | 2.3 | 1,480 | 5.4 | Income problem only-cannot afford | | | | | | | | | | | monthly payments.................| 6,953 | 19.7 | 4,428 | 20.9 | 524 | 24.6 | 2,001 | 16.7 | 5,879 | 21.3 | Cash problem and income problem....| 20,529 | 58.1 | 9,694 | 45.8 | 1,361 | 63.9 | 9,475 | 78.9 | 19,296 | 70.0 | Debt level too high/cannot afford| | | | | | | | | | | monthly payments...............| 13,101 | 37.1 | 5,537 | 26.1 | 822 | 38.6 | 6,743 | 56.1 | 10,105 | 36.7 | Cannot afford down payment/cannot| | | | | | | | | | | afford monthly payments........| 7,428 | 21.0 | 4,157 | 19.6 | 539 | 25.3 | 2,732 | 22.7 | 9,191 | 33.4 | | | | | | | | | | | | | | | | | | | | | | | Current owners cannot afford.| 16,386 | 100.0 | 11,013 | 100.0 | 1,051 | 100.0 | 4,322 | 100.0 | 8,833 | 100.0 | Cash problem only..................| 4,244 | 25.9 | 3,884 | 35.3 | 132 | 12.6 | 228 | 5.3 | 733 | 8.3 | Debt level too high..............| 2,367 | 14.4 | 2,174 | 19.7 | 61 | 5.8 | 132 | 3.1 | 325 | 3.7 | Cannot afford down payment.......| 1,877 | 11.5 | 1,711 | 15.5 | 71 | 6.8 | 96 | 2.2 | 407 | 4.6 | Income problem only-cannot afford | | | | | | | | | | | monthly payments.................| 6,265 | 38.2 | 3,991 | 36.2 | 459 | 43.7 | 1,814 | 42.0 | 4,401 | 49.8 | Cash problem and income problem....| 5,877 | 35.9 | 3,137 | 28.5 | 459 | 43.7 | 2,280 | 52.8 | 3,700 | 41.9 | Debt level too high/cannot afford| | | | | | | | | | | monthly payments...............| 3,408 | 20.8 | 1,735 | 15.8 | 271 | 25.8 | 1,402 | 32.4 | 1,747 | 19.8 | Cannot afford down payment/cannot| | | | | | | | | | | afford monthly payments........| 2,469 | 15.1 | 1,402 | 12.7 | 189 | 17.9 | 878 | 20.3 | 1,952 | 22.1 | | | | | | | | | | | | | | | | | | | | | | | Current renters cannot afford| 18,943 | 100.0 | 10,172 | 100.0 | 1,078 | 100.0 | 7,693 | 100.0 | 18,723 | 100.0 | Cash problem only..................| 3,602 | 19.0 | 3,180 | 31.3 | 111 | 10.3 | 311 | 4.0 | 1,649 | 8.8 | Debt level too high..............| 1,540 | 8.1 | 1,354 | 13.3 | 61 | 5.6 | 125 | 1.6 | 577 | 3.1 | Cannot afford down payment.......| 2,062 | 10.9 | 1,825 | 17.9 | 51 | 4.7 | 186 | 2.4 | 1,072 | 5.7 | Income problem only-cannot afford | | | | | | | | | | | monthly payments.................| 689 | 3.6 | 437 | 4.3 | 65 | 6.0 | 188 | 2.4 | 1,478 | 7.9 | Cash problem and income problem....| 14,653 | 77.4 | 6,556 | 64.5 | 902 | 83.7 | 7,195 | 93.5 | 15,596 | 83.3 | Debt level too high/cannot afford| | | | | | | | | | | monthly payments...............| 9,693 | 51.2 | 3,801 | 37.4 | 551 | 51.1 | 5,341 | 69.4 | 8,358 | 44.6 | Cannot afford down payment/cannot| | | | | | | | | | | afford monthly payments........| 4,960 | 26.2 | 2,755 | 27.1 | 351 | 32.5 | 1,854 | 24.1 | 7,238 | 38.7 | ------------------------------------------------------------------------------------------------------------------------------------------- Table 2-5. Reason Median-Priced Home Cannot be Afforded for Families and Unrelated Individuals Below Affordability Level, by Current Tenure and Type of Financing: United States, 1993 - Continued (Numbers in 000's. Data may not add to total since more than one reason may prevent qualifying.) ------------------------------------------------------------------------------------------------------------------------------------------- | Families | | |--------------------------------------------------------------------------------| | | | | | | | | | |Male householder, |Female householder,| | | Total | Married-couple |no wife present |no husband present |Unrelated individuals| |--------------------|-------------------|-------------------|-------------------|---------------------| Reason | Number | Percent | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -----------------------------------|----------|---------|---------|---------|---------|---------|---------|---------|-----------|---------| USING FHA, FIXED-RATE, 30-YEAR | | | | | | | | | | | FINANCING | | | | | | | | | | | | | | | | | | | | | | Total cannot afford house....| 34,868 | 100.0 | 20,664 | 100.0 | 2,148 | 100.0 | 12,056 | 100.0 | 27,477 | 100.0 | Cash problem only..................| 7,570 | 21.7 | 6,699 | 32.4 | 275 | 12.8 | 595 | 4.9 | 2,569 | 9.3 | Debt level too high..............| 3,352 | 9.6 | 2,955 | 14.3 | 136 | 6.3 | 261 | 2.2 | 899 | 3.3 | Cannot afford down payment.......| 4,218 | 12.1 | 3,744 | 18.1 | 139 | 6.5 | 334 | 2.8 | 1,670 | 6.1 | Income problem only-cannot afford | | | | | | | | | | | monthly payments.................| 7,554 | 21.7 | 4,855 | 23.5 | 551 | 25.6 | 2,148 | 17.8 | 6,239 | 22.7 | Cash problem and income problem....| 19,745 | 56.6 | 9,110 | 44.1 | 1,322 | 61.5 | 9,313 | 77.2 | 18,670 | 67.9 | Debt level too high/cannot afford| | | | | | | | | | | monthly payments...............| 12,039 | 34.5 | 4,789 | 23.2 | 786 | 36.6 | 6,464 | 53.6 | 9,379 | 34.1 | Cannot afford down payment/cannot| | | | | | | | | | | afford monthly payments........| 7,705 | 22.1 | 4,321 | 20.9 | 536 | 25.0 | 2,849 | 23.6 | 9,291 | 33.8 | | | | | | | | | | | | | | | | | | | | | | | Current owners cannot afford.| 16,045 | 100.0 | 10,620 | 100.0 | 1,070 | 100.0 | 4,354 | 100.0 | 8,822 | 100.0 | Cash problem only..................| 3,724 | 23.2 | 3,376 | 31.8 | 137 | 12.8 | 210 | 4.8 | 712 | 8.1 | Debt level too high..............| 2,018 | 12.6 | 1,820 | 17.1 | 74 | 6.9 | 124 | 2.8 | 320 | 3.6 | Cannot afford down payment.......| 1,706 | 10.6 | 1,556 | 14.7 | 63 | 5.9 | 86 | 2.0 | 391 | 4.4 | Income problem only-cannot afford | | | | | | | | | | | monthly payments.................| 6,778 | 42.2 | 4,356 | 41.0 | 479 | 44.7 | 1,943 | 44.6 | 4,558 | 51.7 | Cash problem and income problem....| 5,543 | 34.5 | 2,888 | 27.2 | 454 | 42.4 | 2,201 | 50.5 | 3,552 | 40.3 | Debt level too high/cannot afford| | | | | | | | | | | monthly payments...............| 3,056 | 19.0 | 1,470 | 13.8 | 250 | 23.4 | 1,336 | 30.7 | 1,625 | 18.4 | Cannot afford down payment/cannot| | | | | | | | | | | afford monthly payments........| 2,487 | 15.5 | 1,418 | 13.3 | 204 | 19.1 | 865 | 19.9 | 1,927 | 21.8 | | | | | | | | | | | | | | | | | | | | | | | Current renters cannot afford| 18,824 | 100.0 | 10,044 | 100.0 | 1,078 | 100.0 | 7,702 | 100.0 | 18,655 | 100.0 | Cash problem only..................| 3,846 | 20.4 | 3,323 | 33.1 | 138 | 12.8 | 385 | 5.0 | 1,857 | 10.0 | Debt level too high..............| 1,334 | 7.1 | 1,135 | 11.3 | 62 | 5.7 | 137 | 1.8 | 578 | 3.1 | Cannot afford down payment.......| 2,512 | 13.3 | 2,188 | 21.8 | 76 | 7.1 | 248 | 3.2 | 1,279 | 6.9 | Income problem only-cannot afford | | | | | | | | | | | monthly payments.................| 776 | 4.1 | 499 | 5.0 | 72 | 6.7 | 205 | 2.7 | 1,680 | 9.0 | Cash problem and income problem....| 14,202 | 75.4 | 6,222 | 61.9 | 868 | 80.5 | 7,113 | 92.3 | 15,118 | 81.0 | Debt level too high/cannot afford| | | | | | | | | | | monthly payments...............| 8,983 | 47.7 | 3,319 | 33.0 | 536 | 49.7 | 5,129 | 66.6 | 7,754 | 41.6 | Cannot afford down payment/cannot| | | | | | | | | | | afford monthly payments........| 5,219 | 27.7 | 2,903 | 28.9 | 332 | 30.8 | 1,984 | 25.8 | 7,364 | 39.5 | -------------------------------------------------------------------------------------------------------------------------------------------