U.S. Department of Commerce

Residential Finance Survey

Skip top of page navigation
You are here: Census.govPeople and HouseholdsResidential Finance Survey MainData › ›

Residential Finance Survey: 2001 - Midwest
Table 6-1c. Mortgage Status, Rental and Vacant 5- to 49-Housing-Unit Properties
^Number of properties.
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, Rental Vacancy Losses as Percent of Potential Receipts, and Real Estate Tax as Percent of Rental Receipts acquired before 2000 exclude properties with less than half of units in rental market during all of year preceding survey and cooperatively owned apartments^^

Total properties Nonmortgaged properties Mortgaged properties

5-to-49-housing-unit properties
117529 40220 77309

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
89395 32505 56890
In central cities 47794 18492 29302
Not in central cities 41601 14014 27588
Outside MAs 28134 7714 20420

Number of Housing Units

5 to 9 housing units
66512 24761 41751
10 to 19 housing units 30499 10548 19952
20 to 29 housing units 11757 3122 8635
30 to 39 housing units 4406 841 3565
40 to 49 housing units 4354 948 3406

Manner of Acquisition

By purchase
105897 33076 72821
Placed one new mortgage 75990 17229 58761
Placed two or more new mortgages 6742 298 6444
Assumed mortgage(s) already on property 4803 2230 2572
Assumed mortgage(s) already on property
and placed new mortgage
862 579 282
Borrowed using assets other than this
property as collateral
3784 1795 1989
Paid all cash-no borrowing 8674 7287 1387
Other manner 5042 3658 1384
By inheritance or gift 4132 3486 646
By divorce 317 317 0
By tax free exchange of
other property
686 434 252
By foreclosure or assignment 0 0 0
By some other manner 1109 288 821
Not reported 5388 2619 2769

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
45807 6959 38849
Sale of stock or other partnership
shares for this project
2165 199 1966
Sale of previously owned stocks,
shares, or other securities
801 156 644
Sale of land or other real estate 2985 158 2826
Owner's cash, bank deposits,
share accounts, or bonds
19451 2408 17043
Borrowing from a retirement plan 180 0 180
Borrowing using assets other than this
property as collateral
5297 65 5233
Proceeds from an insurance policy 210 0 210
From a state or local government source 212 35 177
From a non-profit organization 38 38 0
Proceeds from sale of tax credits 1059 0 1059
From parents or relatives 1727 0 1727
Other cash source 3320 2063 1257
Non-cash source 230 201 29
No downpayment required 4671 503 4169
Not reported 6565 1399 5166
Other properties 69816 32719 37097
Not reported 1906 542 1364

Year Property Acquired

1999 to 2001 (part)
22037 2850 19187
1997 and 1998 16036 2390 13647
1995 and 1996 10677 3069 7607
1990 to 1994 18901 5017 13883
1985 to 1989 11994 3156 8838
1980 to 1984 12146 6523 5624
1975 to 1979 12269 7137 5133
1970 to 1974 5749 3442 2308
1969 or earlier 7719 6637 1083

Building and Land Acquisition

Acquired at same time
92555 31356 61199
Not acquired at same time 18669 6519 12150
Land not owned by building owner 832 0 832
Not reported 5474 2344 3129

Property New or Previously Owned When
Acquired

Acquired by purchase
105897 33076 72821
New 26945 10370 16575
Previously owned 75813 21772 54041
As residential property 71224 20695 50529
Converted from nonresidential use 4590 1078 3512
Other 743 259 484
Not reported 2395 675 1721
Other properties 6243 4525 1719
Not reported 5388 2619 2769

Year Structure Built

1999 to March 2000
2918 332 2587
1997 and 1998 3943 238 3705
1995 and 1996 2352 393 1958
1990 to 1994 8831 2368 6463
1980 to 1989 13467 4666 8800
1970 to 1979 25977 7501 18476
1960 to 1969 21384 9582 11802
1950 to 1959 6741 2491 4250
1940 to 1949 6524 2443 4081
1939 or earlier 25393 10205 15189

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
35928 4106 31822
Less than $20,000 8586 1655 6931
$20,000 to $39,999 14965 426 14539
$40,000 to $59,999 6266 543 5722
$60,000 to $79,999 1960 464 1496
$80,000 to $99,999 1354 272 1081
$100,000 to $124,999 627 192 435
$125,000 to $149,999 699 0 699
$150,000 to $174,999 97 97 0
$175,000 to $199,999 220 0 220
$200,000 to $249,999 453 0 453
$250,000 to $299,999 130 0 130
$300,000 to $499,999 115 0 115
$500,000 or more 457 457 0
Median 32533 38697 32353
Mean 49234 99819 42707
Other properties 81601 36113 45488

Value

Less than $100,000
8430 5532 2898
$100,000 to $199,999 20489 7896 12592
$200,000 to $299,999 21749 9294 12455
$300,000 to $399,999 15725 5126 10599
$400,000 to $499,999 9435 2545 6889
$500,000 to $749,999 12687 3721 8965
$750,000 to $999,999 8379 909 7470
$1,000,000 to $1,499,999 9264 1620 7644
$1,500,000 to $1,999,999 2417 545 1873
$2,000,000 to $2,999,999 2638 495 2143
$3,000,000 to $3,999,999 2155 401 1754
$4,000,000 to $4,999,999 357 249 108
$5,000,000 or more 3805 1886 1919
Median 351489 271890 401604
Mean 732092 666243 766350

Value Per Housing Unit@8

Less than $20,000
19452 10770 8681
$20,000 to $39,999 51050 16075 34975
$40,000 to $59,999 20220 6553 13667
$60,000 to $79,999 9668 2432 7237
$80,000 to $99,999 2954 1192 1762
$100,000 to $124,999 2478 205 2273
$125,000 to $149,999 3012 482 2530
$150,000 to $174,999 1522 151 1372
$175,000 to $199,999 1228 128 1100
$200,000 to $249,999 1591 71 1519
$250,000 to $299,999 865 38 827
$300,000 to $499,999 525 466 58
$500,000 or more 2964 1657 1307
Median 35402 31620 37140
Mean 64497 63903 64807

Purchase Price as Percent of Value@8

Acquired by purchase
105897 33076 72821
Purchased 1997 to 2001 (part) 35928 4106 31822
Less than 60 percent 4418 185 4233
60 to 69 percent 1846 0 1846
70 to 79 percent 4020 141 3879
80 to 99 percent 13981 326 13655
100 percent or more 11663 3454 8209
Median 91 3791 89
Purchased 1990 to 1996 (part) 26087 6512 19574
Less than 40 percent 3656 1404 2252
40 to 59 percent 2556 825 1731
60 to 79 percent 7171 1575 5596
80 to 99 percent 6780 1140 5640
100 percent or more 5734 1446 4288
Median 79 72 81
Purchased 1989 or earlier 43882 22457 21425
Less than 20 percent 3543 1864 1679
20 to 39 percent 6802 3320 3482
40 to 59 percent 10230 5363 4867
60 to 79 percent 9663 5428 4234
80 to 99 percent 4126 2086 2040
100 percent or more 9379 4335 5044
Median 63 62 63
Not acquired by purchase 11632 7144 4488

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
60850 19384 41466
Less than $5,000 12873 4382 8491
$5,000 to $9,999 14399 5729 8671
$10,000 to $24,999 19117 6827 12291
$25,000 to $49,999 7462 1459 6003
$50,000 to $74,999 2115 368 1747
$75,000 to $99,999 1143 306 836
$100,000 to $149,999 1573 129 1444
$150,000 to $199,999 422 41 381
$200,000 to $299,999 898 143 755
$300,000 or more 848 0 848
Median 12474 9635 14359
Mean 230568 15207 331239
Properties with no capital
improvements between 1998 and 2000
32216 11141 21075
Capital improvements not
reported
24462 9695 14768

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
60850 19384 41466
Less than $500 13427 4315 9113
$500 to $999 10857 2922 7935
$1,000 to $2,499 23747 8293 15454
$2,500 to $4,999 7508 3239 4269
$5,000 to $7,499 1652 546 1106
$7,500 to $9,999 1090 69 1021
$10,000 to $14,999 300 0 300
$15,000 to $19,999 743 0 743
$20,000 to $29,999 850 0 850
$30,000 or more 677 0 677
Median 1388 1444 1358
Mean 27791 1469 40095
Properties with no capital
improvements between 1998 and 2000
32216 11141 21075
Capital improvements not
reported
24462 9695 14768

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
103164 38779 64384
Less than $100 9217 4970 4247
$100 to $199 11947 5136 6811
$200 to $299 16239 6601 9638
$300 to $399 22481 8983 13498
$400 to $499 14824 4830 9994
$500 to $599 8332 2138 6194
$600 to $799 6346 1754 4592
$800 to $999 5321 1501 3820
$1000 or more 8195 2782 5413
No rental receipts 262 84 178
Median 362 329 385
Mean 608 508 669
Acquired 2000 and 2001 (part) 14365 1440 12925

Rental Receipts as Percent of Value@8

Acquired before 2000
103164 38779 64384
Less than 5 percent 3056 1331 1726
5 to 9 percent 34371 13029 21342
10 to 14 percent 27124 8051 19073
15 to 19 percent 21113 7841 13272
20 to 24 percent 8470 4175 4295
25 to 29 percent 1864 402 1463
30 to 39 percent 2884 1675 1209
40 percent or more 3901 2191 1710
Median 13 13 12
Acquired 2000 and 2001 (part) 14365 1440 12925

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
103164 38779 64384
Less than 1.0 percent 16848 7614 9235
1.0 to 2.9 percent 11851 3949 7903
3.0 to 4.9 percent 10547 4469 6078
5.0 to 6.9 percent 8616 2093 6523
7.0 to 8.9 percent 6291 2419 3872
9.0 to 10.9 percent 4610 2372 2238
11.0 to 12.9 percent 2959 407 2552
13.0 to 14.9 percent 2674 1330 1344
15.0 percent or more 12029 3544 8485
Not reported or not computed 26737 10583 16154
Median 4.8 4.1 5.3
Acquired 2000 and 2001 (part) 14365 1440 12925

Age Restrictions

Property restricted to people
age 55 or older
35055 11732 23323
Property not restricted to people
age 55 or older
77205 26462 50744
Not reported 5269 2026 3243

Age Composition

Over one-half the residents of the
building age 55 or older
7102 1987 5115
Over one-half the residents of the
building not age 55 or older
66806 22817 43988
Not reported 43621 15415 28206

Meal Service Provided by Properties
Exclusively or Predominantly Occupied by
People Age 55 or Older

Property provides meal service
21739 8830 12909
Charge included in rent 15136 5127 10009
Charge not included in rent 160 81 79
Not reported 6443 3622 2821
Property does not provide meal
service
10647 2386 8260
Not reported 85143 29003 56140

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
4521 0 4521
Government rental subsidy 12557 3591 8967
Government grant 396 97 299
Property tax relief 2175 453 1722
Federal income tax credit for
low-income, old or historic properties
1903 151 1752
Accelerated federal income tax
depreciation for low- and
moderate-income properties
66 0 66
Subsidy from a non-profit corporation 183 71 112
None of the above benefits 91578 33445 58132
Not reported 8609 2920 5689

Source of Property Benefits@1

With property benefits
17342 3854 13488
Federal government 12359 3016 9344
State government 2572 478 2095
Local government 3371 673 2698
Non-profit corporation 183 71 112
Not reported 179 0 179
With no property benefits 91578 33445 58132
Not reported 8609 2920 5689

Reason for Benefits@1

With property benefits
17342 3854 13488
Occupied by low- or moderate-income
individuals
14615 3417 11198
Occupied by elderly or disabled
individuals
5865 1232 4633
A historic structure 314 0 314
Located in a community development or
economic development area
1128 0 1128
Covered by a Homestead Exemption 0 0 0
Covered by a Community Land Trust 0 0 0
Covered by disaster relief 0 0 0
Other reason 74 34 40
Not reported 1071 65 1006
With no property benefits 91578 33445 58132
Not reported 8609 2920 5689

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
27265 7582 19682
Property has never had tenants
receiving Section 8 assistance
77191 27536 49655
Not reported 13073 5101 7972

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
65321 23429 41892
Limited partnership 18546 4612 13934
Joint venture 1725 0 1725
General partnership 7559 3583 3976
Life insurance company 0 0 0
Depository institution 165 0 165
Public real estate investment trust 819 691 127
Private real estate investment trust 288 168 120
Corporation - other than real estate
investment trust
13015 3828 9187
Housing cooperative organization 78 43 34
Non-profit or church-related institution 4858 2199 2659
Pension fund 0 0 0
Fraternal organization 38 38 0
Other 5117 1628 3488

RECURRING EXPENSES


Real Estate Tax Per Housing Unit

Acquired before 2000
103164 38779 64384
Less than $100 9647 3965 5682
$100 to $199 8461 4575 3886
$200 to $299 11561 3581 7980
$300 to $399 10759 3747 7012
$400 to $499 12382 5249 7132
$500 to $599 8996 4254 4742
$600 to $699 5886 2132 3754
$700 to $799 6029 2304 3726
$800 to $899 4985 1087 3899
$900 to $999 3084 814 2270
$1,000 to $1,249 7188 2574 4614
$1,250 to $1,499 3002 601 2401
$1,500 to $1,999 3164 400 2763
$2,000 to $2,499 796 195 601
$2,500 or more 2678 192 2486
Not reported 4546 3110 1436
Median 472 437 497
Mean 673 498 773
Acquired 2000 and 2001 (part) 14365 1440 12925

Real Estate Tax Per $1,000 Value

Acquired before 2000
103164 38779 64384
Less than $5 18769 7092 11677
$5 to $9 11720 3329 8392
$10 to $14 16244 4527 11717
$15 to $19 16431 7097 9334
$20 to $24 15050 3388 11662
$25 to $29 5655 2124 3531
$30 to $39 14507 7871 6635
$40 to $49 91 91 0
$50 to $59 0 0 0
$60 or more 150 150 0
Not reported or not computed 4546 3110 1436
Median 16 17 15
Acquired 2000 and 2001 (part) 14365 1440 12925

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
103164 38779 64384
Less than 5 percent 12936 4849 8087
5 to 9 percent 29571 11948 17623
10 to 14 percent 21321 6768 14553
15 to 19 percent 17725 5675 12050
20 to 24 percent 5737 1955 3782
25 to 29 percent 2722 833 1889
30 to 34 percent 1977 385 1592
35 to 39 percent 631 383 248
40 percent or more 5619 2789 2830
Not reported or not computed 4926 3194 1732
Median 12 11 12
Acquired 2000 and 2001 (part) 14365 1440 12925

Property Management

Property managed by paid property
management company
47202 17299 29903
Property not managed by paid property
management company
60402 19294 41107
Not reported 9925 3626 6299

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
103164 38779 64384
Less than $100 1858 545 1313
$100 to $199 3891 1639 2251
$200 to $299 6382 1818 4564
$300 to $399 7893 3438 4455
$400 to $499 4158 2073 2085
$500 to $599 3353 1391 1962
$600 to $699 2022 432 1590
$700 to $799 1534 293 1241
$800 to $899 812 289 523
$900 to $999 762 113 649
$1,000 to $1,249 1158 344 814
$1,250 to $1,499 1489 648 841
$1,500 to $1,999 1701 735 967
$2,000 to $2,499 332 0 332
$2,500 or more 2571 656 1915
No expenses 41954 14579 27375
Not reported or not computed 21293 9786 11507
Median 399 393 408
Acquired 2000 and 2001 (part) 14365 1440 12925

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
103164 38779 64384
Less than $100 3128 1430 1698
$100 to $199 8936 4280 4656
$200 to $299 6237 1282 4955
$300 to $399 7320 1553 5767
$400 to $499 6575 2992 3583
$500 to $599 5502 1880 3623
$600 to $699 4826 2593 2233
$700 to $799 3229 1229 2001
$800 to $899 5174 2404 2770
$900 to $999 2561 1045 1516
$1,000 to $1,249 7493 3115 4378
$1,250 to $1,499 3473 759 2713
$1,500 to $1,999 3995 1059 2936
$2,000 to $2,499 1641 641 1001
$2,500 or more 4732 388 4344
No expenses 3740 1785 1955
Not reported or not computed 24603 10346 14257
Median 595 595 595
Acquired 2000 and 2001 (part) 14365 1440 12925

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
103164 38779 64384
Less than $250 12560 3921 8639
$250 to $499 23017 8334 14683
$500 to $749 17235 6746 10489
$750 to $999 9590 3252 6338
$1,000 to $1,249 3968 661 3306
$1,250 to $1,499 2048 838 1210
$1,500 to $1,749 1271 1003 267
$1,750 to $1,999 1324 282 1042
$2,000 to $2,499 574 182 392
$2,500 or more 1874 197 1678
No expenses 5294 2308 2985
Not reported or not computed 24409 11056 13354
Median 517 517 517
Acquired 2000 and 2001 (part) 14365 1440 12925

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