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Residential Finance Survey: 2001 - United States
Table 7-1a. Mortgage Status, Rental and Vacant 50-or-More-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

50-or-more-housing-unit
properties
71207 10009 61197

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
66342 9657 56685
In central cities 37176 5685 31491
Not in central cities 29165 3972 25194
Outside MAs 4865 352 4513

Number of Housing Units

50 to 74 housing units
21049 3270 17779
75 to 99 housing units 10908 1610 9298
100 to 149 housing units 14904 2042 12862
150 to 199 housing units 8878 893 7985
200 to 299 housing units 8753 1146 7607
300 to 499 housing units 5351 807 4544
500 to 999 housing units 1200 220 980
1,000 or more housing units 164 22 142

Manner of Acquisition

By purchase
63663 8341 55322
Placed one new mortgage 46608 2992 43616
Placed two or more new mortgages 3513 368 3145
Assumed mortgage(s) already on property 5666 594 5072
Assumed mortgage(s) already on property
and placed new mortgage
1214 118 1096
Borrowed using assets other than this
property as collateral
885 447 439
Paid all cash-no borrowing 4217 2914 1302
Other manner 1560 909 651
By inheritance or gift 796 371 425
By divorce 46 26 20
By tax free exchange of
other property
827 98 728
By foreclosure or assignment 614 174 440
By some other manner 1669 261 1408
Not reported 3591 737 2854

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
25543 2660 22884
Sale of stock or other partnership
shares for this project
3478 227 3251
Sale of previously owned stocks,
shares, or other securities
526 54 472
Sale of land or other real estate 2416 259 2157
Owner's cash, bank deposits,
share accounts, or bonds
10892 1153 9739
Borrowing from a retirement plan 48 4 44
Borrowing using assets other than this
property as collateral
1558 234 1323
Proceeds from an insurance policy 31 0 31
From a state or local government source 403 10 393
From a non-profit organization 316 70 245
Proceeds from sale of tax credits 1116 26 1090
From parents or relatives 277 31 246
Other cash source 1313 144 1169
Non-cash source 233 16 218
No downpayment required 2280 380 1900
Not reported 3649 411 3238
Other properties 44155 7082 37073
Not reported 1508 267 1241

Year Property Acquired

1999 to 2001 (part)
11650 1023 10627
1997 and 1998 10958 1514 9444
1995 and 1996 6282 810 5472
1990 to 1994 9312 1557 7755
1985 to 1989 9022 784 8238
1980 to 1984 8038 656 7382
1975 to 1979 7191 920 6271
1970 to 1974 4289 747 3542
1969 or earlier 4464 1998 2466

Building and Land Acquisition

Acquired at same time
48458 6507 41951
Not acquired at same time 18248 2652 15596
Land not owned by building owner 768 195 573
Not reported 3733 655 3078

Property New or Previously Owned When
Acquired

Acquired by purchase
63663 8341 55322
New 24812 3338 21474
Previously owned 37793 4787 33006
As residential property 35781 4665 31116
Converted from nonresidential use 2012 122 1890
Other 451 98 353
Not reported 607 119 488
Other properties 3952 930 3022
Not reported 3591 737 2854

Year Structure Built

1999 to March 2000
2195 321 1874
1997 and 1998 3711 515 3196
1995 and 1996 2724 448 2276
1990 to 1994 3990 635 3355
1980 to 1989 16981 2109 14872
1970 to 1979 20888 2124 18764
1960 to 1969 10481 2021 8460
1950 to 1959 3070 493 2577
1940 to 1949 1776 496 1280
1939 or earlier 5391 848 4543

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
19914 2000 17914
Less than $20,000 4638 451 4186
$20,000 to $39,999 6878 324 6554
$40,000 to $59,999 4220 352 3868
$60,000 to $79,999 2188 329 1860
$80,000 to $99,999 987 250 737
$100,000 to $124,999 419 95 324
$125,000 to $149,999 222 43 179
$150,000 to $174,999 74 24 50
$175,000 to $199,999 55 12 42
$200,000 to $249,999 71 2 69
$250,000 to $299,999 54 42 13
$300,000 to $499,999 13 3 10
$500,000 or more 55 46 9
Median 35409 51986 34539
Mean 43611 70602 40637
Other properties 51293 8009 43284

Value

Less than $1,000,000
4076 1381 2695
$1,000,000 to $1,999,999 9510 1572 7938
$2,000,000 to $2,999,999 9927 1341 8586
$3,000,000 to $3,999,999 8763 906 7857
$4,000,000 to $4,999,999 5667 562 5105
$5,000,000 to $7,499,999 11894 1044 10849
$7,500,000 to $9,999,999 5274 674 4600
$10,000,000 to $14,999,999 8165 993 7172
$15,000,000 to $19,999,999 3028 464 2564
$20,000,000 to $29,999,999 2728 510 2217
$30,000,000 to $39,999,999 952 272 680
$40,000,000 to $49,999,999 443 97 346
$50,000,000 or more 779 192 586
Median 4587101 3784380 4689948
Mean 7511302 8471136 7354316

Value Per Housing Unit@8

Less than $20,000
11252 2651 8601
$20,000 to $39,999 25037 2662 22375
$40,000 to $59,999 17953 1833 16119
$60,000 to $79,999 7890 1098 6793
$80,000 to $99,999 3695 589 3106
$100,000 to $124,999 2274 427 1847
$125,000 to $149,999 1137 180 957
$150,000 to $174,999 577 172 405
$175,000 to $199,999 300 72 228
$200,000 to $249,999 393 67 326
$250,000 to $299,999 287 117 170
$300,000 to $499,999 223 59 164
$500,000 or more 169 63 106
Median 39444 37609 39663
Mean 49700 54993 48836

Purchase Price as Percent of Value@8

Acquired by purchase
63663 8341 55322
Purchased 1997 to 2001 (part) 19914 2000 17914
Less than 60 percent 2282 156 2127
60 to 69 percent 1170 54 1117
70 to 79 percent 2257 68 2189
80 to 99 percent 6264 368 5897
100 percent or more 7900 1328 6572
Median 93 2441 92
Purchased 1990 to 1996 (part) 13932 1982 11950
Less than 40 percent 1272 148 1124
40 to 59 percent 2005 195 1810
60 to 79 percent 3058 251 2807
80 to 99 percent 2921 479 2442
100 percent or more 4616 873 3743
Median 84 96 82
Purchased 1989 or earlier 29817 4359 25458
Less than 20 percent 2152 773 1379
20 to 39 percent 3557 957 2600
40 to 59 percent 4472 687 3785
60 to 79 percent 5632 638 4995
80 to 99 percent 3371 324 3048
100 percent or more 10435 927 9507
Median 76 52 80
Not acquired by purchase 7544 1668 5876

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
44842 5589 39253
Less than $50,000 11572 1523 10049
$50,000 to $99,999 7808 915 6893
$100,000 to $249,999 12546 1239 11307
$250,000 to $499,999 6152 853 5299
$500,000 to $749,999 2832 360 2472
$750,000 to $999,999 1003 188 815
$1,000,000 to $1,499,999 1116 205 910
$1,500,000 to $1,999,999 448 61 388
$2,000,000 to $2,999,999 467 68 399
$3,000,000 or more 898 177 721
Median 136359 143208 135609
Mean 403346 515222 387416
Properties with no capital
improvements between 1998 and 2000
14728 2492 12236
Capital improvements not
reported
11636 1928 9709

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
44842 5589 39253
Less than $500 12795 1551 11244
$500 to $999 9679 1168 8511
$1,000 to $2,499 14172 1574 12598
$2,500 to $4,999 4915 771 4144
$5,000 to $7,499 1319 186 1133
$7,500 to $9,999 505 81 424
$10,000 to $14,999 465 95 370
$15,000 to $19,999 230 35 195
$20,000 to $29,999 255 63 192
$30,000 or more 506 64 442
Median 997 1071 992
Mean 2592 2902 2548
Properties with no capital
improvements between 1998 and 2000
14728 2492 12236
Capital improvements not
reported
11636 1928 9709

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
64194 9576 54618
Less than $100 2306 814 1492
$100 to $199 2261 496 1765
$200 to $299 3565 674 2891
$300 to $399 7799 1171 6627
$400 to $499 10038 1129 8909
$500 to $599 11377 1344 10033
$600 to $799 8183 930 7253
$800 to $999 11598 1587 10012
$1000 or more 6793 1315 5477
No rental receipts 275 117 159
Median 553 533 555
Mean 642 632 644
Acquired 2000 and 2001 (part) 7012 433 6579

Rental Receipts as Percent of Value@8

Acquired before 2000
64194 9576 54618
Less than 5 percent 2094 663 1430
5 to 9 percent 4235 828 3407
10 to 14 percent 19429 3020 16409
15 to 19 percent 16760 1945 14815
20 to 24 percent 8930 941 7989
25 to 29 percent 4869 550 4319
30 to 39 percent 3610 576 3034
40 percent or more 4018 935 3083
Median 17 16 17
Acquired 2000 and 2001 (part) 7012 433 6579

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
64194 9576 54618
Less than 1.0 percent 8270 991 7279
1.0 to 2.9 percent 11413 1551 9862
3.0 to 4.9 percent 9953 1585 8368
5.0 to 6.9 percent 5896 768 5128
7.0 to 8.9 percent 5615 518 5096
9.0 to 10.9 percent 2800 332 2468
11.0 to 12.9 percent 1616 158 1458
13.0 to 14.9 percent 813 82 731
15.0 percent or more 4678 943 3735
Not reported or not computed 13141 2648 10493
Median 4.2 4.2 4.2
Acquired 2000 and 2001 (part) 7012 433 6579

Age Restrictions

Property restricted to people
age 55 or older
12401 1926 10475
Property not restricted to people
age 55 or older
56199 7713 48486
Not reported 2607 371 2236

Age Composition

Over one-half the residents of the
building age 55 or older
4096 606 3489
Over one-half the residents of the
building not age 55 or older
50169 6727 43441
Not reported 16942 2676 14267

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

Property provides meal service
6854 1173 5682
Charge included in rent 4366 805 3560
Charge not included in rent 822 124 698
Not reported 1667 243 1424
Property does not provide meal
service
8984 1175 7809
Not reported 55368 7662 47706

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
6029 104 5925
Government rental subsidy 15975 1221 14753
Government grant 1067 234 832
Property tax relief 3916 428 3488
Federal income tax credit for
low-income, old or historic properties
3333 131 3202
Accelerated federal income tax
depreciation for low- and
moderate-income properties
768 16 752
Subsidy from a non-profit corporation 796 83 713
None of the above benefits 42257 6999 35258
Not reported 7047 1348 5700

Source of Property Benefits@1

With property benefits
21902 1663 20239
Federal government 16572 1044 15528
State government 2995 326 2669
Local government 4207 494 3713
Non-profit corporation 796 83 713
Not reported 547 25 522
With no property benefits 42257 6999 35258
Not reported 7047 1348 5700

Reason for Benefits@1

With property benefits
21902 1663 20239
Occupied by low- or moderate-income
individuals
18138 1200 16938
Occupied by elderly or disabled
individuals
8388 777 7611
A historic structure 371 22 350
Located in a community development or
economic development area
871 44 828
Covered by a Homestead Exemption 102 11 90
Covered by a Community Land Trust 0 0 0
Covered by disaster relief 41 0 41
Other reason 1052 170 882
Not reported 843 64 779
With no property benefits 42257 6999 35258
Not reported 7047 1348 5700

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
28487 2707 25779
Property has never had tenants
receiving Section 8 assistance
36845 6313 30532
Not reported 5875 989 4886

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
9344 1899 7445
Limited partnership 28887 2258 26629
Joint venture 736 75 661
General partnership 5498 1026 4472
Life insurance company 330 223 108
Depository institution 22 17 5
Public real estate investment trust 1936 924 1012
Private real estate investment trust 327 101 225
Corporation - other than real estate
investment trust
14536 1920 12616
Housing cooperative organization 2491 263 2228
Non-profit or church-related institution 4890 954 3935
Pension fund 234 150 84
Fraternal organization 14 3 11
Other 1962 197 1765

RECURRING EXPENSES


Real Estate Tax Per Housing Unit

Acquired before 2000
64194 9576 54618
Less than $100 7057 1226 5831
$100 to $199 4939 1065 3873
$200 to $299 7319 934 6385
$300 to $399 7558 743 6815
$400 to $499 6579 966 5612
$500 to $599 5630 651 4980
$600 to $699 5159 755 4403
$700 to $799 5646 427 5219
$800 to $899 2822 456 2365
$900 to $999 2012 226 1785
$1,000 to $1,249 3529 489 3040
$1,250 to $1,499 1694 263 1431
$1,500 to $1,999 1605 352 1254
$2,000 to $2,499 586 145 441
$2,500 or more 768 177 591
Not reported 1292 701 591
Median 470 449 473
Mean 584 612 580
Acquired 2000 and 2001 (part) 7012 433 6579

Real Estate Tax Per $1,000 Value

Acquired before 2000
64194 9576 54618
Less than $5 8653 1204 7449
$5 to $9 11990 1502 10488
$10 to $14 15836 2414 13422
$15 to $19 10331 1078 9253
$20 to $24 5258 799 4459
$25 to $29 3578 627 2951
$30 to $39 7037 1093 5944
$40 to $49 44 33 11
$50 to $59 8 4 4
$60 or more 149 104 45
Not reported or not computed 1311 719 591
Median 13 14 13
Acquired 2000 and 2001 (part) 7012 433 6579

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
64194 9576 54618
Less than 5 percent 14841 2135 12706
5 to 9 percent 28935 3580 25355
10 to 14 percent 12366 1527 10839
15 to 19 percent 3327 720 2607
20 to 24 percent 1652 480 1172
25 to 29 percent 387 57 330
30 to 34 percent 242 114 128
35 to 39 percent 105 42 62
40 percent or more 817 120 697
Not reported or not computed 1523 800 723
Median 8 8 8
Acquired 2000 and 2001 (part) 7012 433 6579

Property Management

Property managed by paid property
management company
61486 7788 53698
Property not managed by paid property
management company
6664 1674 4990
Not reported 3057 547 2510

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
64194 9576 54618
Less than $100 1031 152 880
$100 to $199 3070 457 2613
$200 to $299 6491 843 5648
$300 to $399 8535 1110 7425
$400 to $499 7819 1127 6691
$500 to $599 4170 437 3733
$600 to $699 3196 535 2661
$700 to $799 2759 309 2450
$800 to $899 2262 357 1905
$900 to $999 2004 248 1756
$1,000 to $1,249 4645 643 4002
$1,250 to $1,499 2964 296 2668
$1,500 to $1,999 2525 375 2150
$2,000 to $2,499 801 133 668
$2,500 or more 1580 265 1315
No expenses 3398 744 2654
Not reported or not computed 6944 1544 5400
Median 500 496 501
Acquired 2000 and 2001 (part) 7012 433 6579

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
64194 9576 54618
Less than $100 1916 211 1705
$100 to $199 3171 835 2336
$200 to $299 3470 435 3035
$300 to $399 4255 626 3629
$400 to $499 4651 693 3958
$500 to $599 4416 607 3809
$600 to $699 4532 638 3895
$700 to $799 3828 561 3267
$800 to $899 4856 505 4351
$900 to $999 2812 499 2313
$1,000 to $1,249 6094 603 5491
$1,250 to $1,499 3772 382 3390
$1,500 to $1,999 4246 638 3608
$2,000 to $2,499 1691 269 1422
$2,500 or more 2253 335 1918
No expenses 511 129 382
Not reported or not computed 7720 1611 6108
Median 741 680 752
Acquired 2000 and 2001 (part) 7012 433 6579

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
64194 9576 54618
Less than $250 5216 1072 4144
$250 to $499 15863 2144 13718
$500 to $749 15665 1853 13813
$750 to $999 9007 1006 8000
$1,000 to $1,249 4873 655 4219
$1,250 to $1,499 2423 536 1887
$1,500 to $1,749 1244 199 1046
$1,750 to $1,999 601 138 464
$2,000 to $2,499 414 73 341
$2,500 or more 624 113 511
No expenses 681 109 572
Not reported or not computed 7583 1679 5904
Median 610 591 612
Acquired 2000 and 2001 (part) 7012 433 6579

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