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Residential Finance Survey: 2001 - United States
Table 5-8. Total Outstanding Debt as Percent of Value, Rental and Vacant 2- to 4-Housing-Unit Mortgaged
Properties
^Number of mortgaged 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.
Monthly Rental Receipts Per Housing Unit, Rental Receipts as Percent of Value, and Rental Vacancy Losses as Percent of Potential Receipts acquired before 2000 exclude properties with less than half of units in rental market during all of the year preceding the survey and cooperatively owned apartments^^

Total outstanding debt as percent
of value
Total Less than
20 percent
20 to 29
percent
30 to 39
percent
40 to 49
percent
50 to 59
percent
60 to 69
percent
70 to 79
percent
80 to 89
percent
90 to 99
percent
100
percent
or more
Not
reported
Median

2- to 4-housing-unit properties
with a traditional first mortgage
1118 90 108 129 143 183 135 114 104 44 60 8 55

PROPERTY CHARACTERISTICS


Year Property Acquired

1999 to 2001 (part)
287 11 18 13 13 52 40 46 50 29 13 2 69
1997 and 1998 150 0 1 12 24 18 14 21 35 12 10 2 72
1995 and 1996 130 8 14 17 16 17 30 13 9 2 5 0 56
1990 to 1994 198 15 15 30 40 41 18 13 9 0 15 1 50
1985 to 1989 166 19 25 33 20 27 22 14 2 0 2 1 42
1980 to 1984 83 15 10 20 10 20 1 3 0 0 4 0 38
1975 to 1979 57 7 15 2 10 7 5 3 0 1 8 0 45
1970 to 1974 32 14 7 0 7 0 2 0 0 0 1 2 22
1969 or earlier 15 0 4 2 3 0 4 2 0 0 0 1 45

Year Structure Built

1999 to March 2000
19 0 2 3 1 1 6 5 0 1 0 0 64
1997 and 1998 17 0 0 1 0 7 3 5 0 0 0 1 59
1995 and 1996 22 0 1 6 2 3 6 0 2 0 2 0 57
1990 to 1994 49 1 6 0 8 9 8 3 10 0 4 0 60
1980 to 1989 134 10 6 13 19 40 9 12 11 8 5 2 55
1970 to 1979 136 12 20 20 6 22 16 16 6 6 9 3 54
1960 to 1969 119 9 12 21 26 10 7 10 12 2 9 0 46
1950 to 1959 136 24 6 7 26 25 8 13 21 4 3 0 53
1940 to 1949 94 9 5 6 10 11 12 21 6 5 9 0 65
1939 or earlier 393 25 51 52 44 55 61 29 37 18 19 3 54

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
410 11 19 18 33 68 47 64 85 41 23 2 71
Less than $20,000 51 0 0 5 12 7 4 7 6 9 0 1 62
$20,000 to $39,999 141 6 9 5 16 17 8 17 36 19 7 1 75
$40,000 to $59,999 80 0 3 2 1 19 5 18 20 9 2 0 75
$60,000 to $79,999 66 0 4 0 0 12 9 13 16 4 8 0 76
$80,000 to $99,999 28 0 3 0 2 6 5 0 6 0 6 0 66
$100,000 to $124,999 18 0 0 1 1 7 7 2 0 0 0 0 60
$125,000 to $149,999 5 0 0 0 2 0 3 0 0 0 0 0 62
$150,000 to $174,999 6 0 0 0 0 0 0 6 0 0 0 0 75
$175,000 to $199,999 0 0 0 0 0 0 0 0 0 0 0 0 0
$200,000 to $249,999 4 0 0 0 0 0 4 0 0 0 0 0 65
$250,000 to $299,999 0 0 0 0 0 0 0 0 0 0 0 0 0
$300,000 to $499,999 6 0 0 3 0 0 3 0 0 0 0 0 39
$500,000 or more 7 5 0 1 0 0 0 0 0 0 0 0 13
Median 43423 38344 45657 37712 25934 50209 73713 48924 39919 32309 65811 18058 ...
Mean 64889 281211 50511 134984 34834 55052 98964 57641 47739 34224 61997 15976 37
Other properties 708 79 89 111 110 116 88 51 19 3 36 7 47

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
944 84 96 121 136 150 109 95 65 26 51 8 52
Less than $100 25 8 0 4 8 1 0 0 2 0 1 1 40
$100 to $199 72 4 6 7 16 16 11 7 0 0 3 3 51
$200 to $299 121 11 8 10 26 14 20 8 11 4 9 2 54
$300 to $399 161 15 22 18 29 21 8 18 15 5 9 0 49
$400 to $499 133 5 10 13 16 32 13 25 6 2 11 0 57
$500 to $599 124 15 5 3 18 25 14 24 12 4 5 0 59
$600 to $799 74 4 4 25 9 8 10 5 0 4 5 0 44
$800 to $999 125 19 21 28 2 14 15 4 18 0 3 1 38
$1000 or more 76 3 18 10 13 10 15 5 0 0 2 1 45
No rental receipts 33 0 1 3 2 10 3 0 1 7 4 1 60
Median 458 483 524 633 363 458 505 459 467 431 419 195 ...
Mean 528 498 817 601 432 483 568 486 474 311 399 639 54
Acquired 2000 and 2001 (part) 175 6 12 7 7 33 26 19 39 17 8 0 69

Rental Receipts as Percent of Value@8

Acquired before 2000
944 84 96 121 136 150 109 95 65 26 51 8 52
Less than 5 percent 118 12 15 27 36 10 10 7 0 0 1 0 41
5 to 9 percent 243 27 34 44 33 42 21 23 15 0 4 0 45
10 to 14 percent 401 26 38 38 46 75 63 45 27 14 22 7 56
15 to 19 percent 88 13 7 6 8 8 6 13 21 5 1 0 63
20 to 24 percent 37 1 0 4 6 3 6 4 0 0 12 0 67
25 to 29 percent 8 0 0 0 0 1 0 1 1 0 5 0 12341
30 to 39 percent 3 1 0 0 0 0 0 1 0 0 0 0 18
40 percent or more 7 0 0 0 2 1 0 2 0 0 2 0 73
Median 11 10 10 9 10 11 12 12 13 13 14 13 ...
Acquired 2000 and 2001 (part) 175 6 12 7 7 33 26 19 39 17 8 0 69

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
944 84 96 121 136 150 109 95 65 26 51 8 52
Less than 1.0 percent 331 39 34 58 34 49 35 40 30 3 7 2 50
1.0 to 2.9 percent 22 0 3 1 5 4 0 1 3 5 0 0 56
3.0 to 4.9 percent 38 4 4 6 1 14 6 0 0 1 1 0 52
5.0 to 6.9 percent 24 0 1 0 9 2 5 5 1 0 2 0 60
7.0 to 8.9 percent 56 4 10 7 13 7 3 5 4 0 2 0 45
9.0 to 10.9 percent 34 1 3 0 16 0 4 6 1 2 0 0 48
11.0 to 12.9 percent 21 3 2 1 3 10 0 2 0 0 1 0 52
13.0 to 14.9 percent 5 0 0 0 1 0 0 0 4 0 0 0 83
15.0 percent or more 133 18 6 23 22 21 12 12 4 4 11 0 49
Not reported or not computed 279 14 33 25 31 45 44 23 18 12 28 6 57
Median 1.1 0.9 0.9 0.8 7.6 3.0 0.9 0.9 0.8 2.6 8.7 0.5 ...
Acquired 2000 and 2001 (part) 175 6 12 7 7 33 26 19 39 17 8 0 69

Age Restrictions

Property restricted to people
age 55 or older
240 27 29 23 25 36 31 32 21 6 10 1 54
Property not restricted to people
age 55 or older
854 63 73 103 112 146 105 80 80 37 50 7 55
Not reported 24 0 5 3 5 1 0 3 3 1 0 1 46

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
957 73 91 108 132 163 111 95 95 36 51 3 54
Limited partnership 64 11 3 14 4 11 5 4 2 6 1 3 45
Joint venture 8 0 0 4 2 0 0 2 0 0 0 0 40
General partnership 11 0 0 0 3 0 1 4 0 0 0 2 70
Life insurance company 5 0 2 0 0 1 1 0 0 0 0 0 30
Depository institution 2 0 0 0 0 0 2 0 0 0 0 0 65
Public real estate investment trust 1 0 1 0 0 0 0 0 0 0 0 0 25
Private real estate investment trust 0 0 0 0 0 0 0 0 0 0 0 0 0
Corporation - other than real estate
investment trust
52 7 4 0 1 5 15 4 8 2 5 0 65
Housing cooperative organization 4 0 4 0 0 0 0 0 0 0 0 0 25
Non-profit or church-related institution 12 0 2 2 0 3 0 3 0 0 2 0 56
Pension fund 0 0 0 0 0 0 0 0 0 0 0 0 0
Fraternal organization 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 3 0 0 0 0 0 0 3 0 0 0 0 75

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
961 78 93 126 121 168 111 102 96 26 33 8 54
2 mortgages 148 13 15 3 22 14 25 12 9 15 21 0 63
3 or more mortgages 9 0 0 0 0 2 0 0 0 2 5 0 13995

Form of Debt of First Mortgage

Mortgage or deed of trust
1118 90 108 129 143 183 135 114 104 44 60 8 55
Contract to purchase 0 0 0 0 0 0 0 0 0 0 0 0 0
Some other loan secured by this property 0 0 0 0 0 0 0 0 0 0 0 0 0

Origin of First Mortgage

Mortgage made at time property acquired
854 66 79 90 110 140 84 90 97 44 51 5 56
Mortgage assumed at the time property
acquired
53 10 3 7 4 11 15 1 1 0 0 2 52
Mortgage placed later than acquisition of
property
211 15 26 32 29 32 37 23 7 0 9 1 51
Refinanced mortgage 185 15 22 31 18 30 34 21 4 0 9 1 52
Same lender 62 9 4 11 4 11 15 3 1 0 5 0 52
Different lender 123 6 18 19 14 19 19 19 4 0 4 1 52
Mortgage placed on property
owned free and clear of debt
26 0 4 2 11 3 3 1 3 0 0 0 47
Not available 0 0 0 0 0 0 0 0 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
399 14 24 30 30 64 65 63 58 29 22 2 66
1997 and 1998 208 0 11 18 26 33 30 26 36 12 15 2 65
1995 and 1996 135 14 18 24 21 20 17 10 4 2 5 1 46
1990 to 1994 193 20 21 27 45 37 14 10 5 1 13 1 46
1985 to 1989 102 14 17 26 13 17 7 5 2 0 0 0 37
1980 to 1984 39 11 4 5 5 13 0 0 0 0 1 0 41
1979 or earlier 42 18 13 0 3 0 3 0 0 0 2 3 21

Total Mortgage Outstanding Debt

Less than $10,000
54 45 4 4 0 0 0 0 0 0 0 1 12
$10,000 to $19,999 60 11 17 6 21 3 2 0 0 0 0 0 33
$20,000 to $29,999 73 11 9 17 12 0 9 2 5 5 3 0 39
$30,000 to $39,999 76 5 6 0 14 21 9 10 4 3 4 0 56
$40,000 to $49,999 90 1 12 17 23 11 10 6 9 0 1 0 47
$50,000 to $59,999 112 1 15 15 15 21 8 19 3 7 7 0 55
$60,000 to $79,999 163 12 5 14 13 42 25 10 29 7 5 0 59
$80,000 to $99,999 124 0 12 14 20 27 10 27 5 3 6 0 56
$100,000 to $149,999 182 3 15 15 15 35 23 19 26 15 16 0 64
$150,000 to $199,999 94 0 11 11 6 11 22 10 14 1 7 0 63
$200,000 to $249,999 25 0 0 8 3 2 2 1 4 2 3 0 60
$250,000 to $299,999 19 0 0 0 0 6 2 4 4 0 4 0 75
$300,000 or more 39 0 3 7 2 4 14 4 1 0 5 0 63
Not reported 8 0 0 0 0 0 0 0 0 0 0 8 0
Median 71164 10066 54220 66334 52095 76827 89149 86400 87137 76804 117674 5001 ...
Mean 94000 24465 73590 97678 69453 96313 139414 103212 101899 85288 165037 25 68

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