Residential Finance Survey

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