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Residential Finance Survey: 2001 - Midwest
Table 2-1c. 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
14636 5154 9482 9042 441

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
10774 3338 7435 7065 370
In central cities 3307 1138 2169 2063 106
Not in central cities 7466 2200 5266 5002 264
Outside MAs 3863 1815 2047 1977 70

Manner of Acquisition

By purchase
13910 4622 9288 8883 405
Placed one new mortgage 11397 2663 8734 8409 325
Placed two or more new mortgages 174 42 132 121 11
Assumed mortgage(s) already on property 335 161 174 166 8
Assumed mortgage(s) already on property
and placed new mortgage
42 20 22 22 0
Borrowed using assets other than this
property as collateral
223 165 59 43 15
Paid all cash-no borrowing 1694 1541 153 108 46
Other manner 44 30 14 14 0
By inheritance or gift 541 445 96 64 32
By divorce 38 11 27 27 0
By some other manner 28 21 7 7 0
Not reported 120 55 64 61 4

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
5501 740 4761 4706 55
Sale of previous home 2017 278 1739 1723 16
Sale of other real property or other
investments
217 34 183 183 0
Savings 2579 299 2280 2253 28
Borrowing from a retirement plan 169 3 166 166 0
Borrowing using assets other than this
property as collateral
179 32 147 139 7
Proceeds from an insurance policy 48 9 38 38 0
Payments in a lease-purchase agreement 55 4 51 51 0
From a state or local government source 54 4 51 51 0
From a non-profit organization 9 0 9 9 0
From parents or relatives 422 22 400 400 0
Other 18 0 18 18 0
No downpayment required 435 107 328 324 4
Not reported 154 45 109 105 4
Other properties 9074 4393 4680 4298 382
Not reported 61 20 41 37 4

Year Property Acquired

1999 to 2001 (part)
2566 388 2178 2148 30
1997 and 1998 1853 291 1562 1538 25
1995 and 1996 1390 255 1135 1115 20
1990 to 1994 2342 532 1810 1783 27
1985 to 1989 1631 490 1141 1083 58
1980 to 1984 934 400 534 487 46
1975 to 1979 1117 529 587 534 53
1970 to 1974 809 508 302 199 103
1969 or earlier 1995 1761 234 155 79

Building and Land Acquisition

Acquired at same time
13069 4413 8656 8264 392
Not acquired at same time 1327 656 670 631 39
Land not owned by building owner 136 44 92 87 5
Not reported 103 40 64 60 4

Property New or Previously Occupied When
Acquired

Acquired by purchase
13910 4622 9288 8883 405
New 3405 1454 1951 1831 120
Previously occupied by someone else 10408 3106 7302 7017 285
Converted from non-residential use 22 18 3 3 0
Other 8 0 8 8 0
Not reported 68 44 24 24 0
Other properties 606 477 130 98 32
Not reported 120 55 64 61 4

Year Structure Built

1999 to March 2000
529 72 457 450 7
1997 and 1998 457 69 388 388 0
1995 and 1996 566 113 453 446 7
1990 to 1994 1056 251 805 798 7
1980 to 1989 1573 352 1221 1182 39
1970 to 1979 2165 681 1485 1374 111
1960 to 1969 1914 894 1020 945 76
1950 to 1959 2511 1112 1398 1291 108
1940 to 1949 1153 467 686 662 24
1939 or earlier 2711 1142 1569 1507 62

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
4153 520 3633 3598 35
Less than $20,000 185 99 86 73 13
$20,000 to $39,999 365 112 253 250 4
$40,000 to $59,999 397 52 345 341 4
$60,000 to $79,999 540 50 490 490 0
$80,000 to $99,999 470 20 450 450 0
$100,000 to $124,999 486 57 429 426 3
$125,000 to $149,999 473 27 447 447 0
$150,000 to $174,999 312 7 304 300 4
$175,000 to $199,999 218 24 194 194 0
$200,000 to $249,999 271 18 253 253 0
$250,000 to $299,999 165 21 143 140 4
$300,000 to $499,999 223 33 190 186 4
$500,000 or more 48 0 48 48 0
Median 106172 58952 111208 111457 45049
Mean 130110 95078 135121 135449 101433
Other properties 10483 4634 5849 5444 406

Value

Less than $20,000
477 357 120 98 22
$20,000 to $39,999 822 466 356 332 24
$40,000 to $59,999 1344 629 714 676 38
$60,000 to $79,999 1929 860 1070 1010 60
$80,000 to $99,999 2032 672 1360 1317 43
$100,000 to $124,999 1935 647 1288 1221 67
$125,000 to $149,999 1464 393 1071 1024 47
$150,000 to $174,999 1185 271 914 871 43
$175,000 to $199,999 865 176 688 648 40
$200,000 to $249,999 1020 251 768 754 15
$250,000 to $299,999 550 156 394 379 15
$300,000 to $499,999 747 211 537 522 14
$500,000 or more 266 64 202 190 13
Median 109225 87873 121771 122264 112807
Mean 134304 110104 147456 147925 137840

Purchase Price as Percent of Value@8

Acquired by purchase
13910 4622 9288 8883 405
Purchased 1997 to 2001 (part) 4153 520 3633 3598 35
Less than 60 percent 533 171 363 346 17
60 to 69 percent 323 72 252 244 8
70 to 79 percent 470 36 434 434 0
80 to 99 percent 2112 165 1947 1940 7
100 percent or more 707 73 634 630 4
Median 87 74 88 88 61
Purchased 1990 to 1996 (part) 3617 700 2917 2871 47
Less than 40 percent 294 100 194 190 4
40 to 59 percent 673 149 525 514 11
60 to 79 percent 1275 204 1071 1047 24
80 to 99 percent 1030 199 830 830 0
100 percent or more 331 42 289 280 9
Median 73 70 74 74 68
Purchased 1989 or earlier 6140 3403 2738 2414 323
Less than 20 percent 1231 890 341 252 89
20 to 39 percent 1600 857 743 633 110
40 to 59 percent 1466 706 761 713 48
60 to 79 percent 1217 728 489 432 57
80 to 99 percent 238 128 109 106 3
100 percent or more 374 83 291 275 16
Median 43 39 47 49 33
Not acquired by purchase 726 532 194 159 35

Value-Income Ratio

Less than 1.0
1374 641 733 659 75
1.0 to 1.4 1951 598 1353 1288 64
1.5 to 1.9 2588 577 2011 1946 66
2.0 to 2.4 2048 481 1568 1516 52
2.5 to 2.9 1364 349 1015 986 29
3.0 to 3.4 925 289 636 612 24
3.5 to 3.9 695 247 448 439 8
4.0 or more 2383 1334 1050 955 94
Not reported or not computed 1307 638 670 640 29
Median 2.2 2.5 2.1 2.1 2.0

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
7946 2135 5811 5533 278
Less than $500 190 83 107 103 4
$500 to $999 288 97 192 186 6
$1,000 to $2,499 1272 407 865 834 31
$2,500 to $4,999 1547 452 1094 1061 33
$5,000 to $7,499 1409 350 1060 1014 45
$7,500 to $9,999 477 131 347 327 20
$10,000 to $14,999 977 238 739 681 59
$15,000 to $19,999 486 106 380 359 21
$20,000 to $29,999 726 140 585 545 40
$30,000 or more 574 132 441 423 19
Median 6200 5212 6526 6435 9965
Mean 10563 9229 11054 11001 12102
Properties with no capital
improvements between 1998 and 2000
5245 2343 2901 2781 120
Capital improvements not
reported
1445 675 770 728 42

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
593 100 493 473 20
Property located in subdivision not
restricted to people age 55 or older
13273 4643 8629 8226 403
Not reported 771 411 360 343 17

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
1436 739 697 652 45
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
9175 2773 6402 6125 276
Don't know or not reported 4025 1641 2383 2264 119

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
88 13 76 76 0
Other government grant or subsidy 60 3 57 53 3
Property tax relief 705 393 312 277 35
Subsidy from a non-profit corporation 7 4 3 3 0
None of the above benefits 11138 3700 7438 7107 330
Not reported 2643 1041 1602 1530 72

Source of Property Benefits@1

With property benefits
856 413 443 404 38
Federal government 102 36 66 63 3
State government 449 216 232 210 23
Local government 230 144 86 86 0
Non-profit corporation 7 4 3 3 0
Not reported 76 13 63 51 12
With no property benefits 11138 3700 7438 7107 330
Not reported 2643 1041 1602 1530 72

Reason for Benefits@1

With property benefits
856 413 443 404 38
Occupied by low- or moderate-income
individuals
143 41 102 102 0
Occupied by elderly or disabled
individuals
217 185 31 28 4
A historic structure 7 0 7 7 0
Located in a community development or
economic development area
38 0 38 38 0
Covered by a Homestead Exemption 473 224 250 215 35
Covered by a Community Land Trust 9 3 5 5 0
Covered by disaster relief 0 0 0 0 0
Other reason 90 34 56 56 0
Not reported 24 8 17 17 0
With no property benefits 11138 3700 7438 7107 330
Not reported 2643 1041 1602 1530 72

OWNER CHARACTERISTICS


Owner Status

1 owner
5644 2594 3049 2892 158
2 owners 8838 2492 6346 6063 283
3 or more owners 154 67 88 88 0

Age of Owner

Under 25
104 15 89 89 0
25 to 34 1550 34 1516 1513 3
35 to 44 2858 201 2658 2625 32
45 to 54 3410 652 2759 2628 131
55 to 64 2400 1085 1314 1194 120
65 to 74 1845 1341 504 402 102
75 and over 1611 1447 164 126 38
Not reported 857 378 479 465 14
Median 52 68 46 45 59

Race of Owner

White alone
13521 4826 8695 8299 396
Black or African American alone 723 219 504 474 31
American Indian or Alaska Native alone 63 36 26 26 0
Asian alone 204 38 166 161 5
Native Hawaiian or Other Pacific
Islander alone
9 0 9 9 0
Two or more races 117 35 82 73 9

Sex of Owner

Male/Male and female co-owners
11305 3427 7878 7537 341
Female 3331 1726 1604 1504 100

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
543 160 383 379 4
No Hispanic/Latino owner(s) 14093 4993 9100 8663 437

Veteran Status@1

Veteran
3590 1734 1855 1734 121
Active member of Reserves or National
Guard for at least 6 years
412 135 277 263 14
Persian Gulf War or after
(August 1990 to present)
181 0 181 181 0
Vietnam or after
(August 1964 to July 1990)
1471 356 1116 1073 43
Korean conflict or after
(July 1950 to July 1964)
1048 684 364 304 60
World War II or after
(September 1940 to June 1950)
827 702 125 106 19
Nonveteran 10142 3011 7131 6830 301
Not reported 904 408 496 478 18

Income

Less than $5,000
1437 709 728 683 44
$5,000 to $9,999 317 244 74 69 5
$10,000 to $14,999 580 409 171 171 0
$15,000 to $19,999 597 394 203 194 9
$20,000 to $24,999 855 486 369 354 15
$25,000 to $29,999 862 466 395 347 48
$30,000 to $34,999 850 383 467 443 24
$35,000 to $39,999 719 245 475 448 27
$40,000 to $49,999 1547 415 1132 1063 69
$50,000 to $59,999 1389 342 1047 1008 39
$60,000 to $79,999 2207 430 1777 1731 46
$80,000 to $99,999 1244 243 1001 963 38
$100,000 to $119,999 751 139 613 580 32
$120,000 or more 1281 249 1032 987 46
Median 47113 28593 56950 57418 47071
Mean 59149 41686 68640 68473 72054

Owned Home Previously

Previously owned home
8176 2817 5359 5117 242
Never owned home before 5812 2031 3781 3592 189
Not reported 648 305 343 333 10

RECURRING EXPENSES


Real Estate Tax

Acquired before 2000
13074 4921 8153 7720 433
Less than $100 1972 803 1169 1112 57
$100 to $199 150 88 63 63 0
$200 to $299 224 141 83 83 0
$300 to $399 350 156 193 176 17
$400 to $499 394 195 199 191 9
$500 to $599 414 213 201 197 4
$600 to $699 523 257 266 258 8
$700 to $799 495 226 269 250 19
$800 to $899 458 186 272 259 13
$900 to $999 469 177 293 281 12
$1,000 to $1,249 1218 481 737 674 63
$1,250 to $1,499 807 297 510 472 38
$1,500 to $1,999 1561 447 1114 1046 68
$2,000 to $2,499 1218 398 820 797 24
$2,500 or more 2478 620 1858 1759 99
Not reported 342 236 106 103 4
Median 1188 944 1387 1390 1344
Mean 1582 1264 1768 1767 1773
Acquired 2000 and 2001 (part) 1562 232 1329 1322 8

Real Estate Tax Per $1,000 Value

Acquired before 2000
13074 4921 8153 7720 433
Less than $5 2344 937 1407 1339 68
$5 to $9 2290 744 1545 1475 71
$10 to $14 3661 1331 2331 2190 140
$15 to $19 2152 716 1436 1370 65
$20 to $24 1140 457 683 653 29
$25 to $29 428 166 262 247 15
$30 to $39 669 320 348 336 13
$40 to $49 15 5 9 4 6
$50 to $59 3 0 3 0 3
$60 or more 27 7 19 0 19
Not reported or not computed 345 236 110 106 4
Median 12 12 12 12 13
Acquired 2000 and 2001 (part) 1562 232 1329 1322 8

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