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Residential Finance Survey

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Residential Finance Survey: 2001 - United States
Table 2-1a. Mortgage Status, 1-Unit Homeowner 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^^

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
56960 18992 37968 36410 1558

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
45209 13519 31689 30402 1287
In central cities 13708 4561 9147 8815 332
Not in central cities 31501 8958 22542 21588 955
Outside MAs 11751 5473 6279 6008 271

Manner of Acquisition

By purchase
53488 16601 36887 35481 1406
Placed one new mortgage 43382 9462 33920 32878 1042
Placed two or more new mortgages 1138 188 950 938 11
Assumed mortgage(s) already on property 1712 765 948 886 62
Assumed mortgage(s) already on property
and placed new mortgage
294 104 191 171 20
Borrowed using assets other than this
property as collateral
659 463 196 135 61
Paid all cash-no borrowing 6033 5424 610 403 206
Other manner 268 195 74 70 4
By inheritance or gift 2650 2000 649 504 145
By divorce 144 77 67 67 0
By some other manner 123 75 48 48 0
Not reported 556 239 317 310 7

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
21572 2788 18784 18579 205
Sale of previous home 7117 1150 5967 5879 87
Sale of other real property or other
investments
1137 218 918 908 10
Savings 10800 1069 9731 9636 94
Borrowing from a retirement plan 842 31 810 810 0
Borrowing using assets other than this
property as collateral
492 49 443 423 20
Proceeds from an insurance policy 153 33 120 120 0
Payments in a lease-purchase agreement 177 34 143 143 0
From a state or local government source 284 12 271 263 8
From a non-profit organization 34 0 34 34 0
From parents or relatives 1973 122 1851 1846 5
Other 100 12 88 88 0
No downpayment required 1707 334 1372 1354 18
Not reported 554 158 396 392 4
Other properties 35122 16112 19010 17661 1349
Not reported 266 92 174 170 4

Year Property Acquired

1999 to 2001 (part)
10368 1568 8800 8716 83
1997 and 1998 7223 1051 6172 6110 62
1995 and 1996 5292 980 4313 4212 101
1990 to 1994 9136 1854 7282 7133 148
1985 to 1989 6445 1846 4599 4397 202
1980 to 1984 3934 1528 2407 2247 160
1975 to 1979 4253 1986 2267 2049 218
1970 to 1974 3110 1950 1160 909 251
1969 or earlier 7199 6230 969 636 333

Building and Land Acquisition

Acquired at same time
49955 15598 34357 33017 1340
Not acquired at same time 5905 2992 2913 2736 178
Land not owned by building owner 526 168 358 347 11
Not reported 575 235 340 311 29

Property New or Previously Occupied When
Acquired

Acquired by purchase
53488 16601 36887 35481 1406
New 15553 6190 9363 8913 450
Previously occupied by someone else 37599 10269 27330 26380 949
Converted from non-residential use 61 43 18 18 0
Other 45 14 31 31 0
Not reported 229 84 145 139 7
Other properties 2917 2153 764 619 145
Not reported 556 239 317 310 7

Year Structure Built

1999 to March 2000
2256 328 1928 1911 17
1997 and 1998 2529 351 2178 2157 20
1995 and 1996 2255 331 1924 1880 43
1990 to 1994 4624 904 3720 3660 60
1980 to 1989 8486 1916 6570 6407 163
1970 to 1979 9481 3081 6399 6076 323
1960 to 1969 7491 3438 4053 3788 265
1950 to 1959 8326 3680 4646 4389 257
1940 to 1949 3787 1708 2079 1965 114
1939 or earlier 7726 3255 4471 4176 295

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
16586 2001 14585 14477 108
Less than $20,000 598 295 303 287 16
$20,000 to $39,999 1020 278 741 729 13
$40,000 to $59,999 1272 170 1103 1084 18
$60,000 to $79,999 1813 208 1605 1605 0
$80,000 to $99,999 1964 164 1800 1796 4
$100,000 to $124,999 2025 204 1821 1813 8
$125,000 to $149,999 2001 173 1828 1822 6
$150,000 to $174,999 1468 122 1346 1330 16
$175,000 to $199,999 908 60 848 840 7
$200,000 to $249,999 1231 85 1146 1138 9
$250,000 to $299,999 802 77 725 717 8
$300,000 to $499,999 1091 120 971 967 4
$500,000 or more 394 45 349 349 0
Median 120087 86059 123910 123967 110335
Mean 151354 123090 155232 155516 117060
Other properties 40374 16991 23383 21933 1450

Value

Less than $20,000
1515 1197 319 285 33
$20,000 to $39,999 2983 1855 1129 1051 78
$40,000 to $59,999 4681 2220 2461 2317 144
$60,000 to $79,999 6276 2517 3759 3569 190
$80,000 to $99,999 6661 2130 4531 4371 159
$100,000 to $124,999 6452 2025 4427 4223 204
$125,000 to $149,999 5717 1360 4357 4235 121
$150,000 to $174,999 4892 1256 3637 3482 154
$175,000 to $199,999 3293 737 2555 2476 80
$200,000 to $249,999 4288 1055 3233 3117 116
$250,000 to $299,999 3118 872 2247 2167 80
$300,000 to $499,999 4890 1243 3646 3487 159
$500,000 or more 2194 526 1669 1630 38
Median 124659 96038 138538 139102 121347
Mean 165990 135855 181063 182092 157009

Purchase Price as Percent of Value@8

Acquired by purchase
53488 16601 36887 35481 1406
Purchased 1997 to 2001 (part) 16586 2001 14585 14477 108
Less than 60 percent 1805 500 1305 1279 25
60 to 69 percent 1419 270 1149 1130 19
70 to 79 percent 2006 167 1838 1826 12
80 to 99 percent 8149 733 7415 7380 35
100 percent or more 3179 322 2858 2841 16
Median 87 82 88 88 78
Purchased 1990 to 1996 (part) 13610 2341 11269 11052 218
Less than 40 percent 1031 310 721 676 45
40 to 59 percent 2086 454 1632 1595 37
60 to 79 percent 4846 791 4055 3991 64
80 to 99 percent 4068 628 3440 3394 46
100 percent or more 1541 142 1400 1374 25
Median 75 70 76 76 68
Purchased 1989 or earlier 23291 12258 11033 9952 1080
Less than 20 percent 5365 3668 1698 1336 362
20 to 39 percent 5413 2809 2604 2312 292
40 to 59 percent 5137 2450 2687 2539 148
60 to 79 percent 4612 2525 2087 1883 204
80 to 99 percent 1312 477 836 814 22
100 percent or more 1402 300 1102 1049 53
Median 43 37 49 50 32
Not acquired by purchase 3472 2391 1081 929 152

Value-Income Ratio

Less than 1.0
4805 2254 2551 2389 163
1.0 to 1.4 6996 1930 5066 4818 248
1.5 to 1.9 8380 1965 6415 6216 200
2.0 to 2.4 7453 1725 5728 5543 186
2.5 to 2.9 5558 1369 4189 4072 117
3.0 to 3.4 3798 1083 2716 2616 100
3.5 to 3.9 2611 761 1850 1794 56
4.0 or more 12202 5614 6588 6171 417
Not reported or not computed 5156 2292 2864 2791 72
Median 2.4 2.7 2.3 2.3 2.4

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
29042 7731 21310 20429 881
Less than $500 615 290 324 308 17
$500 to $999 1052 362 690 671 19
$1,000 to $2,499 4803 1374 3428 3306 122
$2,500 to $4,999 5255 1839 3416 3298 118
$5,000 to $7,499 5311 1298 4013 3843 170
$7,500 to $9,999 1580 413 1166 1129 38
$10,000 to $14,999 3659 889 2770 2624 146
$15,000 to $19,999 1868 349 1518 1435 84
$20,000 to $29,999 2401 430 1971 1875 96
$30,000 or more 2498 485 2013 1941 72
Median 6316 4999 6742 6712 7425
Mean 12253 10652 12834 12852 12407
Properties with no capital
improvements between 1998 and 2000
21753 8567 13186 12646 540
Capital improvements not
reported
6166 2694 3472 3335 136

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
2555 532 2023 1987 36
Property located in subdivision not
restricted to people age 55 or older
51404 16964 34440 32987 1453
Not reported 3001 1496 1505 1436 69

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
5422 2653 2768 2589 179
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
35115 9994 25121 24263 858
Don't know or not reported 16423 6344 10079 9558 521

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
551 47 504 495 10
Other government grant or subsidy 227 30 196 193 3
Property tax relief 3383 1652 1731 1633 98
Subsidy from a non-profit corporation 52 12 40 40 0
None of the above benefits 42104 13403 28701 27506 1195
Not reported 10710 3871 6839 6587 252

Source of Property Benefits@1

With property benefits
4146 1718 2428 2317 111
Federal government 606 126 480 467 13
State government 1929 858 1071 1019 52
Local government 1445 713 732 694 38
Non-profit corporation 52 12 40 40 0
Not reported 321 116 205 190 16
With no property benefits 42104 13403 28701 27506 1195
Not reported 10710 3871 6839 6587 252

Reason for Benefits@1

With property benefits
4146 1718 2428 2317 111
Occupied by low- or moderate-income
individuals
730 203 528 511 16
Occupied by elderly or disabled
individuals
1082 806 276 253 23
A historic structure 27 0 27 27 0
Located in a community development or
economic development area
182 26 157 151 5
Covered by a Homestead Exemption 1827 761 1066 1008 58
Covered by a Community Land Trust 9 3 5 5 0
Covered by disaster relief 25 0 25 25 0
Other reason 709 219 490 468 22
Not reported 197 67 131 127 4
With no property benefits 42104 13403 28701 27506 1195
Not reported 10710 3871 6839 6587 252

OWNER CHARACTERISTICS


Owner Status

1 owner
21541 9573 11968 11431 537
2 owners 34677 9104 25573 24552 1021
3 or more owners 742 314 428 428 0

Age of Owner

Under 25
383 54 328 328 0
25 to 34 5445 234 5211 5182 28
35 to 44 11534 950 10584 10436 148
45 to 54 13040 2296 10744 10399 345
55 to 64 9663 3609 6054 5579 475
65 to 74 7410 4866 2544 2178 367
75 and over 6147 5336 811 668 142
Not reported 3339 1647 1692 1640 52
Median 52 68 47 46 60

Race of Owner

White alone
50352 17161 33191 31761 1430
Black or African American alone 4300 1395 2905 2840 66
American Indian or Alaska Native alone 295 98 198 194 4
Asian alone 1519 246 1273 1241 32
Native Hawaiian or Other Pacific
Islander alone
134 15 119 115 4
Two or more races 360 77 283 260 23

Sex of Owner

Male/Male and female co-owners
44063 12736 31327 30105 1221
Female 12898 6256 6641 6305 337

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
4091 1093 2998 2927 70
No Hispanic/Latino owner(s) 52869 17899 34970 33483 1487

Veteran Status@1

Veteran
14356 6300 8057 7576 481
Active member of Reserves or National
Guard for at least 6 years
1989 623 1365 1327 38
Persian Gulf War or after
(August 1990 to present)
946 58 888 881 7
Vietnam or after
(August 1964 to July 1990)
5949 1329 4620 4437 183
Korean conflict or after
(July 1950 to July 1964)
4106 2378 1729 1503 225
World War II or after
(September 1940 to June 1950)
3485 2837 647 555 92
Nonveteran 38837 10983 27854 26861 993
Not reported 3766 1709 2058 1973 84

Income

Less than $5,000
5769 2649 3120 3018 102
$5,000 to $9,999 1392 1027 365 331 34
$10,000 to $14,999 2144 1518 626 595 31
$15,000 to $19,999 2271 1346 925 889 36
$20,000 to $24,999 2808 1498 1310 1244 66
$25,000 to $29,999 2982 1269 1713 1574 139
$30,000 to $34,999 3126 1287 1839 1738 101
$35,000 to $39,999 2809 1032 1777 1668 110
$40,000 to $49,999 5846 1774 4072 3858 213
$50,000 to $59,999 5144 1278 3866 3717 149
$60,000 to $79,999 8190 1649 6541 6352 189
$80,000 to $99,999 5096 873 4222 4089 134
$100,000 to $119,999 3333 598 2735 2629 106
$120,000 or more 6051 1194 4857 4709 148
Median 48860 30735 58373 58852 47488
Mean 63957 46781 72548 72951 63121

Owned Home Previously

Previously owned home
31335 10176 21158 20301 858
Never owned home before 22921 7462 15459 14820 639
Not reported 2704 1353 1351 1290 61

RECURRING EXPENSES


Real Estate Tax

Acquired before 2000
50885 18038 32847 31331 1516
Less than $100 9606 3873 5733 5558 175
$100 to $199 858 514 344 329 15
$200 to $299 1086 614 472 455 17
$300 to $399 1506 678 827 786 41
$400 to $499 1557 732 825 793 32
$500 to $599 1636 777 858 826 33
$600 to $699 1810 777 1033 995 38
$700 to $799 1770 724 1046 1008 38
$800 to $899 1794 705 1089 998 92
$900 to $999 1504 510 994 949 46
$1,000 to $1,249 4445 1382 3064 2862 201
$1,250 to $1,499 2624 837 1787 1701 86
$1,500 to $1,999 5023 1423 3600 3423 176
$2,000 to $2,499 4107 1195 2912 2775 137
$2,500 or more 10474 2463 8012 7634 378
Not reported 1084 834 250 239 11
Median 1100 788 1252 1249 1322
Mean 1630 1266 1822 1817 1918
Acquired 2000 and 2001 (part) 6075 954 5121 5079 42

Real Estate Tax Per $1,000 Value

Acquired before 2000
50885 18038 32847 31331 1516
Less than $5 13418 5510 7908 7627 281
$5 to $9 12232 3539 8693 8326 367
$10 to $14 10542 3392 7150 6816 334
$15 to $19 5625 1847 3778 3618 160
$20 to $24 3477 1232 2245 2098 147
$25 to $29 1611 555 1057 990 67
$30 to $39 2756 1092 1664 1605 59
$40 to $49 42 11 31 7 24
$50 to $59 30 10 20 0 20
$60 or more 62 16 47 0 47
Not reported or not computed 1088 834 254 243 11
Median 10 9 10 10 12
Acquired 2000 and 2001 (part) 6075 954 5121 5079 42

Source: U.S. Census Bureau | Residential Finance Survey |  Last Revised: 2012-08-02T15:15:13.203-04:00