Table 5-9: Effect of Different Down Payment Subsidies on Affordability Status of Black and Hispanic Origin Families and Unrelated Individuals for a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1993 (Numbers in thousands. Data may not add to total due to rounding) ---------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-priced home in area | |-------------------------------------------------------------------------------------------| | Black | Hispanic 1 | |--------------------------------------------|----------------------------------------------| | Total | Unrelated | Total | Unrelated | | Families | Individuals | Families | Individuals | |----------------------|---------------------|---------------------|------------------------| Amount of down payment subsidy | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -------------------------------|-----------|----------|----------|----------|----------|----------|-----------|------------| USING CONVENTIONAL, FIXED-RATE,| | | | | | | | | 30-YEAR FINANCING | | | | | | | | | | | | | | | | | | Total | | | | | | | | | No down payment subsidy........| 6,843 | 78.0 | 3,726 | 86.4 | 5,000 | 78.8 | 2,343 | 92.8 | $1,000 subsidy.................| 6,807 | 77.6 | 3,711 | 86.0 | 4,980 | 78.5 | 2,331 | 92.4 | $2,500 subsidy.................| 6,739 | 76.8 | 3,692 | 85.6 | 4,933 | 77.8 | 2,321 | 92.0 | $5,000 subsidy.................| 6,543 | 74.6 | 3,622 | 84.0 | 4,797 | 75.6 | 2,266 | 89.8 | $7,500 subsidy.................| 6,086 | 69.3 | 3,449 | 79.9 | 4,596 | 72.5 | 2,221 | 88.0 | $10,000 subsidy................| 5,811 | 66.2 | 3,338 | 77.4 | 4,428 | 69.8 | 2,180 | 86.4 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | No down payment subsidy........| 2,401 | 56.7 | 987 | 64.4 | 1,651 | 56.7 | 518 | 76.6 | $1,000 subsidy.................| 2,376 | 56.2 | 975 | 63.6 | 1,638 | 56.2 | 510 | 75.5 | $2,500 subsidy.................| 2,322 | 54.9 | 962 | 62.8 | 1,609 | 55.2 | 501 | 74.1 | $5,000 subsidy.................| 2,234 | 52.8 | 924 | 60.3 | 1,539 | 52.9 | 468 | 69.3 | $7,500 subsidy.................| 2,086 | 49.3 | 884 | 57.7 | 1,478 | 50.7 | 460 | 68.0 | $10,000 subsidy................| 1,956 | 46.2 | 824 | 53.8 | 1,414 | 48.6 | 447 | 66.2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | No down payment subsidy........| 4,443 | 97.8 | 2,739 | 98.5 | 3,349 | 97.6 | 1,825 | 98.8 | $1,000 subsidy.................| 4,431 | 97.5 | 2,736 | 98.4 | 3,342 | 97.5 | 1,821 | 98.5 | $2,500 subsidy.................| 4,417 | 97.2 | 2,730 | 98.2 | 3,324 | 96.9 | 1,821 | 98.5 | $5,000 subsidy.................| 4,310 | 94.8 | 2,698 | 97.0 | 3,258 | 95.0 | 1,798 | 97.3 | $7,500 subsidy.................| 4,000 | 88.0 | 2,565 | 92.2 | 3,118 | 90.9 | 1,762 | 95.3 | $10,000 subsidy................| 3,855 | 84.8 | 2,514 | 90.4 | 3,013 | 87.9 | 1,733 | 93.8 | | | | | | | | | | | | | | | | | | | ---------------------------------------------------------------------------------------------------------------------------- 1 Persons of Hispanic origin may be of any race Table 5-9: Effect of Different Down Payment Subsidies on Affordability Status of Black and Hispanic Origin Families and Unrelated Individuals for a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1993 - Continued (Numbers in thousands. Data may not add to total due to rounding) ---------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-priced home in area | |-------------------------------------------------------------------------------------------| | Black | Hispanic 1 | |--------------------------------------------|----------------------------------------------| | Total | Unrelated | Total | Unrelated | | Families | Individuals | Families | Individuals | |----------------------|---------------------|---------------------|------------------------| Amount of down payment subsidy | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -------------------------------|-----------|----------|----------|----------|----------|----------|-----------|------------| USING FHA, FIXED-RATE, 30-YEAR | | | | | | | | | FINANCING | | | | | | | | | | | | | | | | | | Total | | | | | | | | | No down payment subsidy........| 6,812 | 77.6 | 3,729 | 86.4 | 4,971 | 78.4 | 2,337 | 92.6 | $1,000 subsidy.................| 6,731 | 76.7 | 3,710 | 86.0 | 4,942 | 77.9 | 2,329 | 92.3 | $2,500 subsidy.................| 6,651 | 75.8 | 3,652 | 84.7 | 4,888 | 77.1 | 2,304 | 91.3 | $5,000 subsidy.................| 6,242 | 71.1 | 3,528 | 81.8 | 4,666 | 73.6 | 2,254 | 89.3 | $7,500 subsidy.................| 5,903 | 67.3 | 3,428 | 79.5 | 4,482 | 70.7 | 2,195 | 87.0 | $10,000 subsidy................| 5,738 | 65.4 | 3,347 | 77.6 | 4,361 | 68.8 | 2,159 | 85.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | No down payment subsidy........| 2,397 | 56.6 | 990 | 64.6 | 1,643 | 56.4 | 516 | 76.3 | $1,000 subsidy.................| 2,339 | 55.3 | 977 | 63.7 | 1,626 | 55.8 | 508 | 75.2 | $2,500 subsidy.................| 2,288 | 54.1 | 941 | 61.4 | 1,591 | 54.6 | 497 | 73.5 | $5,000 subsidy.................| 2,138 | 50.5 | 899 | 58.6 | 1,519 | 52.2 | 479 | 70.8 | $7,500 subsidy.................| 1,996 | 47.2 | 865 | 56.4 | 1,441 | 49.5 | 452 | 66.9 | $10,000 subsidy................| 1,904 | 45.0 | 834 | 54.4 | 1,366 | 46.9 | 441 | 65.3 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | No down payment subsidy........| 4,415 | 97.2 | 2,739 | 98.5 | 3,327 | 97.0 | 1,821 | 98.5 | $1,000 subsidy.................| 4,392 | 96.6 | 2,734 | 98.3 | 3,316 | 96.7 | 1,821 | 98.5 | $2,500 subsidy.................| 4,363 | 96.0 | 2,712 | 97.5 | 3,296 | 96.1 | 1,808 | 97.8 | $5,000 subsidy.................| 4,104 | 90.3 | 2,629 | 94.5 | 3,147 | 91.8 | 1,775 | 96.1 | $7,500 subsidy.................| 3,908 | 86.0 | 2,563 | 92.2 | 3,042 | 88.7 | 1,743 | 94.4 | $10,000 subsidy................| 3,834 | 84.4 | 2,514 | 90.4 | 2,994 | 87.3 | 1,718 | 93.0 | | | | | | | | | | | | | | | | | | | ---------------------------------------------------------------------------------------------------------------------------- 1 Persons of Hispanic origin may be of any race