Table 5-3: Effect of Different Down Payment Subsidies on Affordability Status of Families and Unrelated Individuals for a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1995 (Numbers in thousands. Data may not add to total due to rounding) ------------------------------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-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........| 38,075 | 52.2 | 23,110 | 42.2 | 2,349 | 73.2 | 12,616 | 84.5 | 28,648 | 75.6 | $1,000 subsidy.................| 37,687 | 51.7 | 22,778 | 41.6 | 2,322 | 72.4 | 12,587 | 84.3 | 28,475 | 75.1 | $2,500 subsidy.................| 37,055 | 50.8 | 22,233 | 40.6 | 2,311 | 72.0 | 12,512 | 83.8 | 28,191 | 74.4 | $5,000 subsidy.................| 35,686 | 49.0 | 20,980 | 38.3 | 2,273 | 70.9 | 12,434 | 83.3 | 27,586 | 72.8 | $7,500 subsidy.................| 33,626 | 46.1 | 19,278 | 35.2 | 2,172 | 67.7 | 12,176 | 81.5 | 26,536 | 70.0 | $10,000 subsidy................| 31,990 | 43.9 | 17,892 | 32.7 | 2,124 | 66.2 | 11,974 | 80.2 | 26,011 | 68.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | | | No down payment subsidy........| 18,086 | 35.1 | 12,394 | 29.0 | 1,022 | 55.8 | 4,670 | 68.0 | 9,455 | 54.4 | $1,000 subsidy.................| 17,760 | 34.5 | 12,124 | 28.3 | 995 | 54.3 | 4,641 | 67.6 | 9,336 | 53.8 | $2,500 subsidy.................| 17,306 | 33.6 | 11,736 | 27.4 | 984 | 53.7 | 4,586 | 66.8 | 9,171 | 52.8 | $5,000 subsidy.................| 16,366 | 31.8 | 10,888 | 25.5 | 960 | 52.3 | 4,519 | 65.8 | 8,882 | 51.1 | $7,500 subsidy.................| 15,435 | 30.0 | 10,096 | 23.6 | 925 | 50.5 | 4,414 | 64.3 | 8,452 | 48.7 | $10,000 subsidy................| 14,534 | 28.2 | 9,353 | 21.9 | 883 | 48.2 | 4,298 | 62.6 | 8,208 | 47.3 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | | | No down payment subsidy........| 19,989 | 93.3 | 10,716 | 89.5 | 1,326 | 96.5 | 7,947 | 98.4 | 19,193 | 93.4 | $1,000 subsidy.................| 19,927 | 93.0 | 10,654 | 88.9 | 1,326 | 96.5 | 7,947 | 98.4 | 19,139 | 93.2 | $2,500 subsidy.................| 19,749 | 92.2 | 10,497 | 87.6 | 1,326 | 96.5 | 7,926 | 98.2 | 19,020 | 92.6 | $5,000 subsidy.................| 19,320 | 90.2 | 10,092 | 84.2 | 1,313 | 95.6 | 7,915 | 98.1 | 18,704 | 91.0 | $7,500 subsidy.................| 18,191 | 84.9 | 9,182 | 76.7 | 1,247 | 90.7 | 7,763 | 96.2 | 18,084 | 88.0 | $10,000 subsidy................| 17,456 | 81.5 | 8,539 | 71.3 | 1,240 | 90.3 | 7,676 | 95.1 | 17,803 | 86.7 | | | | | | | | | | | | | | | | | | | | | | | ------------------------------------------------------------------------------------------------------------------------------------------------- Table 5-3: Effect of Different Down Payment Subsidies on Affordability Status of Families and Unrelated Individuals for a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1995 (Numbers in thousands. Data may not add to total due to rounding) ------------------------------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-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 FHA, FIXED-RATE, 30-YEAR | | | | | | | | | | | FINANCING | | | | | | | | | | | | | | | | | | | | | | Total | | | | | | | | | | | No down payment subsidy........| 37,180 | 51.0 | 22,205 | 40.6 | 2,347 | 73.2 | 12,629 | 84.6 | 28,469 | 75.1 | $1,000 subsidy.................| 36,722 | 50.4 | 21,789 | 39.8 | 2,333 | 72.7 | 12,600 | 84.4 | 28,255 | 74.5 | $2,500 subsidy.................| 35,910 | 49.3 | 21,102 | 38.5 | 2,282 | 71.1 | 12,526 | 83.9 | 27,891 | 73.6 | $5,000 subsidy.................| 33,601 | 46.1 | 19,082 | 34.9 | 2,240 | 69.8 | 12,279 | 82.2 | 26,950 | 71.1 | $7,500 subsidy.................| 32,001 | 43.9 | 17,764 | 32.4 | 2,160 | 67.3 | 12,077 | 80.9 | 26,336 | 69.5 | $10,000 subsidy................| 30,911 | 42.4 | 16,829 | 30.7 | 2,114 | 65.9 | 11,968 | 80.1 | 25,962 | 68.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | | | No down payment subsidy........| 17,412 | 33.8 | 11,709 | 27.4 | 1,021 | 55.7 | 4,683 | 68.2 | 9,380 | 54.0 | $1,000 subsidy.................| 17,093 | 33.2 | 11,413 | 26.7 | 1,010 | 55.1 | 4,670 | 68.0 | 9,251 | 53.3 | $2,500 subsidy.................| 16,568 | 32.2 | 10,977 | 25.7 | 978 | 53.4 | 4,613 | 67.2 | 9,105 | 52.4 | $5,000 subsidy.................| 15,652 | 30.4 | 10,200 | 23.8 | 949 | 51.8 | 4,503 | 65.6 | 8,751 | 50.4 | $7,500 subsidy.................| 14,726 | 28.6 | 9,438 | 22.1 | 907 | 49.5 | 4,381 | 63.8 | 8,478 | 48.8 | $10,000 subsidy................| 13,909 | 27.0 | 8,737 | 20.4 | 874 | 47.7 | 4,297 | 62.6 | 8,274 | 47.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | | | No down payment subsidy........| 19,768 | 92.3 | 10,496 | 87.6 | 1,326 | 96.5 | 7,946 | 98.4 | 19,090 | 92.9 | $1,000 subsidy.................| 19,628 | 91.6 | 10,376 | 86.6 | 1,323 | 96.3 | 7,930 | 98.2 | 19,004 | 92.5 | $2,500 subsidy.................| 19,342 | 90.3 | 10,125 | 84.5 | 1,304 | 94.9 | 7,914 | 98.0 | 18,786 | 91.4 | $5,000 subsidy.................| 17,950 | 83.8 | 8,882 | 74.1 | 1,291 | 94.0 | 7,776 | 96.3 | 18,199 | 88.6 | $7,500 subsidy.................| 17,275 | 80.6 | 8,327 | 69.5 | 1,252 | 91.1 | 7,696 | 95.3 | 17,858 | 86.9 | $10,000 subsidy................| 17,003 | 79.4 | 8,091 | 67.5 | 1,240 | 90.3 | 7,671 | 95.0 | 17,688 | 86.1 | | | | | | | | | | | | | | | | | | | | | | | -------------------------------------------------------------------------------------------------------------------------------------------------