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Residential Finance Survey: 2001 - United States
Table 3-1a. Mortgage Status, 2- to 4-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

2- to 4-housing-unit properties
1087 444 643 617 26

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
933 383 550 532 18
In central cities 443 170 273 268 5
Not in central cities 490 213 277 264 13
Outside MAs 154 61 93 85 8

Manner of Acquisition

By purchase
984 356 628 606 22
Placed one new mortgage 768 206 562 548 14
Placed two or more new mortgages 39 7 31 31 0
Assumed mortgage(s) already on property 28 19 9 7 2
Assumed mortgage(s) already on property
and placed new mortgage
5 1 4 4 0
Borrowed using assets other than this
property as collateral
23 19 5 5 0
Paid all cash-no borrowing 111 94 17 10 7
Other manner 10 10 0 0 0
By inheritance or gift 85 77 8 4 4
By divorce 5 0 5 5 0
By some other manner 1 1 0 0 0
Not reported 12 10 2 2 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
401 68 332 328 5
Sale of previous home 76 15 62 60 2
Sale of other real property or other
investments
25 6 19 19 0
Savings 243 32 211 208 3
Borrowing from a retirement plan 31 4 27 25 3
Borrowing using assets other than this
property as collateral
10 1 8 8 0
Proceeds from an insurance policy 5 2 3 3 0
Payments in a lease-purchase agreement 0 0 0 0 0
From a state or local government source 4 0 4 4 0
From a non-profit organization 0 0 0 0 0
From parents or relatives 60 10 50 50 0
Other 0 0 0 0 0
No downpayment required 33 14 19 19 0
Not reported 8 5 3 3 0
Other properties 676 367 308 287 21
Not reported 10 8 2 2 0

Year Property Acquired

1999 to 2001 (part)
202 48 154 152 2
1997 and 1998 125 22 103 101 2
1995 and 1996 110 24 86 83 3
1990 to 1994 155 43 111 111 0
1985 to 1989 107 38 68 64 4
1980 to 1984 72 31 41 37 4
1975 to 1979 63 35 28 28 1
1970 to 1974 61 39 22 16 6
1969 or earlier 192 164 28 24 4

Building and Land Acquisition

Acquired at same time
963 369 594 571 23
Not acquired at same time 80 54 25 22 3
Land not owned by building owner 18 8 10 10 0
Not reported 27 13 13 13 0

Property New or Previously Occupied When
Acquired

Acquired by purchase
984 356 628 606 22
New 141 87 55 52 3
Previously occupied by someone else 827 259 568 548 20
Converted from non-residential use 6 6 0 0 0
Other 2 0 2 2 0
Not reported 7 4 3 3 0
Other properties 91 78 13 9 4
Not reported 12 10 2 2 0

Year Structure Built

1999 to March 2000
31 10 21 21 0
1997 and 1998 18 3 15 13 2
1995 and 1996 11 2 8 8 0
1990 to 1994 37 13 24 24 0
1980 to 1989 89 27 61 59 3
1970 to 1979 100 44 56 56 0
1960 to 1969 78 47 31 27 4
1950 to 1959 123 59 63 63 1
1940 to 1949 100 48 52 50 2
1939 or earlier 501 189 311 296 15

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
292 46 246 244 2
Less than $20,000 29 17 13 13 0
$20,000 to $39,999 73 9 63 63 0
$40,000 to $59,999 72 13 59 59 0
$60,000 to $79,999 46 3 43 41 2
$80,000 to $99,999 14 0 14 14 0
$100,000 to $124,999 21 4 17 17 0
$125,000 to $149,999 5 0 5 5 0
$150,000 to $174,999 9 0 9 9 0
$175,000 to $199,999 9 0 9 9 0
$200,000 to $249,999 3 0 3 3 0
$250,000 to $299,999 4 0 4 4 0
$300,000 to $499,999 4 0 4 4 0
$500,000 or more 2 0 2 2 0
Median 52048 33179 55880 55523 70000
Mean 72806 38101 79275 79384 66667
Other properties 795 399 396 372 24

Value

Less than $20,000
9 7 2 2 0
$20,000 to $39,999 51 31 19 17 2
$40,000 to $59,999 75 37 39 33 6
$60,000 to $79,999 105 46 60 58 2
$80,000 to $99,999 110 35 75 73 2
$100,000 to $124,999 131 49 83 81 2
$125,000 to $149,999 75 24 51 49 2
$150,000 to $174,999 99 39 59 59 0
$175,000 to $199,999 47 6 40 38 2
$200,000 to $249,999 130 63 67 64 3
$250,000 to $299,999 54 27 27 25 2
$300,000 to $499,999 138 58 80 77 2
$500,000 or more 63 22 41 39 2
Median 145738 144145 146475 147704 112636
Mean 203469 181172 218881 220603 178106

Value Per Housing Unit@8

Less than $20,000
70 43 27 25 2
$20,000 to $39,999 222 103 119 110 9
$40,000 to $59,999 210 69 141 139 2
$60,000 to $79,999 156 54 102 99 2
$80,000 to $99,999 68 18 50 48 2
$100,000 to $124,999 130 63 67 63 4
$125,000 to $149,999 54 26 29 27 2
$150,000 to $174,999 44 23 21 21 0
$175,000 to $199,999 40 20 19 19 0
$200,000 to $249,999 43 10 33 32 1
$250,000 to $299,999 8 3 4 4 0
$300,000 to $499,999 28 10 18 17 1
$500,000 or more 14 2 12 12 0
Median 65254 62752 66587 66912 52942
Mean 94659 84315 101810 103084 71633

Purchase Price as Percent of Value@8

Acquired by purchase
984 356 628 606 22
Purchased 1997 to 2001 (part) 292 46 246 244 2
Less than 60 percent 74 22 52 52 0
60 to 69 percent 24 6 18 16 2
70 to 79 percent 18 4 13 13 0
80 to 99 percent 120 11 109 109 0
100 percent or more 55 3 52 52 0
Median 85 61 87 87 65
Purchased 1990 to 1996 (part) 244 47 197 195 3
Less than 40 percent 40 6 34 31 3
40 to 59 percent 37 4 33 33 0
60 to 79 percent 80 19 61 61 0
80 to 99 percent 50 4 46 46 0
100 percent or more 35 11 24 24 0
Median 71 72 70 71 40-
Purchased 1989 or earlier 448 263 184 167 18
Less than 20 percent 135 104 31 24 7
20 to 39 percent 111 63 48 42 6
40 to 59 percent 57 27 30 30 0
60 to 79 percent 85 52 33 30 3
80 to 99 percent 23 12 12 12 0
100 percent or more 37 6 31 29 2
Median 36 28 48 51 26
Not acquired by purchase 103 89 15 11 4

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
591 198 393 375 18
Less than $500 12 12 0 0 0
$500 to $999 21 16 4 4 0
$1,000 to $2,499 79 26 53 49 4
$2,500 to $4,999 113 53 60 57 3
$5,000 to $7,499 87 24 63 61 2
$7,500 to $9,999 37 8 29 29 0
$10,000 to $14,999 70 18 52 52 0
$15,000 to $19,999 37 8 29 27 3
$20,000 to $29,999 55 21 34 34 0
$30,000 or more 80 12 68 62 6
Median 7038 4597 8878 8884 7424
Mean 14276 9937 16461 16325 19245
Properties with no capital
improvements between 1998 and 2000
390 190 200 197 4
Capital improvements not
reported
106 57 49 45 4

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
591 198 393 375 18
Less than $500 43 31 12 11 2
$500 to $999 36 14 22 22 0
$1,000 to $2,499 166 68 99 93 5
$2,500 to $4,999 121 36 84 82 2
$5,000 to $7,499 65 14 50 50 1
$7,500 to $9,999 37 8 29 27 2
$10,000 to $14,999 55 15 40 39 1
$15,000 to $19,999 17 4 13 13 0
$20,000 to $29,999 22 2 20 14 5
$30,000 or more 29 6 24 24 0
Median 3541 2192 4398 4383 4924
Mean 6581 4643 7556 7509 8529
Properties with no capital
improvements between 1998 and 2000
390 190 200 197 4
Capital improvements not
reported
106 57 49 45 4

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
25 13 12 12 0
Property located in subdivision not
restricted to people age 55 or older
1006 398 607 584 24
Not reported 56 33 23 21 2

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
126 58 68 64 4
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
663 246 417 402 16
Don't know or not reported 298 141 158 151 6

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
27 0 27 27 0
Other government grant or subsidy 4 2 2 2 0
Property tax relief 99 43 55 53 2
Subsidy from a non-profit corporation 1 0 1 1 0
None of the above benefits 754 307 447 428 19
Not reported 202 92 110 105 5

Source of Property Benefits@1

With property benefits
131 45 86 83 2
Federal government 24 6 17 17 0
State government 53 19 34 34 0
Local government 58 27 31 29 2
Non-profit corporation 1 0 1 1 0
Not reported 9 2 8 8 0
With no property benefits 754 307 447 428 19
Not reported 202 92 110 105 5

Reason for Benefits@1

With property benefits
131 45 86 83 2
Occupied by low- or moderate-income
individuals
21 4 17 17 0
Occupied by elderly or disabled
individuals
35 22 13 13 0
A historic structure 3 0 3 3 0
Located in a community development or
economic development area
8 0 8 8 0
Covered by a Homestead Exemption 45 18 27 25 2
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 24 4 21 21 0
Not reported 9 2 7 7 0
With no property benefits 754 307 447 428 19
Not reported 202 92 110 105 5

OWNER CHARACTERISTICS


Owner Status

1 owner
552 256 295 281 15
2 owners 494 166 328 316 11
3 or more owners 41 22 20 20 0

Age of Owner

Under 25
8 0 8 8 0
25 to 34 106 3 103 101 3
35 to 44 141 18 122 122 0
45 to 54 200 36 164 160 4
55 to 64 188 77 111 105 6
65 to 74 188 123 66 57 8
75 and over 174 147 27 25 3
Not reported 82 41 41 39 2
Median 57 70 49 48 63

Race of Owner

White alone
931 389 542 518 24
Black or African American alone 109 38 71 69 2
American Indian or Alaska Native alone 2 2 0 0 0
Asian alone 25 9 16 16 0
Native Hawaiian or Other Pacific
Islander alone
10 2 8 8 0
Two or more races 9 5 5 5 0

Sex of Owner

Male/Male and female co-owners
718 256 461 447 14
Female 369 188 181 169 12

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
149 35 113 113 0
No Hispanic/Latino owner(s) 938 409 529 503 26

Veteran Status@1

Veteran
228 108 120 117 2
Active member of Reserves or National
Guard for at least 6 years
15 6 9 7 2
Persian Gulf War or after
(August 1990 to present)
9 1 8 8 0
Vietnam or after
(August 1964 to July 1990)
80 17 63 63 0
Korean conflict or after
(July 1950 to July 1964)
64 32 32 32 0
World War II or after
(September 1940 to June 1950)
81 65 16 15 1
Nonveteran 776 297 478 457 21
Not reported 83 39 45 43 2

Income

Less than $5,000
102 50 52 50 2
$5,000 to $9,999 14 9 5 5 0
$10,000 to $14,999 70 47 24 21 2
$15,000 to $19,999 75 42 33 29 4
$20,000 to $24,999 82 41 41 41 0
$25,000 to $29,999 83 51 32 27 5
$30,000 to $34,999 55 24 31 31 0
$35,000 to $39,999 73 27 45 44 2
$40,000 to $49,999 107 34 73 67 7
$50,000 to $59,999 92 30 62 62 0
$60,000 to $79,999 138 34 104 104 1
$80,000 to $99,999 74 22 52 50 2
$100,000 to $119,999 43 4 39 39 0
$120,000 or more 78 29 49 47 2
Median 39244 28285 47971 49022 35470
Mean 56397 45258 64097 63551 77011

Owned Home Previously

Previously owned home
511 214 297 283 14
Never owned home before 502 191 311 300 10
Not reported 74 39 35 33 2

RECURRING EXPENSES


Real Estate Tax Per Housing Unit

Acquired before 2000
965 410 555 530 24
Less than $100 165 84 82 78 4
$100 to $199 19 12 7 7 0
$200 to $299 44 17 27 23 4
$300 to $399 49 23 26 22 4
$400 to $499 60 24 36 34 2
$500 to $599 73 39 34 34 0
$600 to $699 53 17 36 36 0
$700 to $799 55 20 35 33 2
$800 to $899 44 14 30 30 0
$900 to $999 48 8 40 40 0
$1,000 to $1,249 92 43 49 45 4
$1,250 to $1,499 57 23 35 33 2
$1,500 to $1,999 68 27 41 40 1
$2,000 to $2,499 41 13 28 28 0
$2,500 or more 77 31 46 46 0
Not reported 20 16 4 3 2
Median 716 596 779 792 391
Mean 952 893 995 1015 540
Acquired 2000 and 2001 (part) 122 34 88 86 2

Real Estate Tax Per $1,000 Value

Acquired before 2000
965 410 555 530 24
Less than $5 224 106 118 114 4
$5 to $9 191 69 122 114 8
$10 to $14 182 64 117 109 9
$15 to $19 128 45 83 81 2
$20 to $24 67 35 31 31 0
$25 to $29 54 23 31 31 0
$30 to $39 95 50 45 45 0
$40 to $49 0 0 0 0 0
$50 to $59 2 2 0 0 0
$60 or more 3 0 3 3 0
Not reported or not computed 20 16 4 3 2
Median 11 11 11 11 9
Acquired 2000 and 2001 (part) 122 34 88 86 2

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