Posted on Thursday, September 2, 2010
The U.S. Census Bureau and HUD publish an American Housing Survey ever two years. The recently released 2009 Survey reflects some interesting measures;
The U.S. population as of 12/30/09 was 308 million and change. The age distribution in our country is as follows: 20% are age 0 to 14. 67% are age 15 to 65. And 13% are over 65.
There are 112 million housing units in our country. The average housing cost for homeowners monthly is $1000 which translates to 20% of income. For renters the cost is $800 which translates to 31% of income. 9.3 million renters fall below the poverty line. That’s 26.4%. Contrast that to 6.4 million or 8.4% of homeowners.
32% own their homes free and clear. That translates to 24.2 million folks, down 1.3% from 24.9 million during the prior survey. 66% have a mortgage or HELOC. That translates to 50.3 million folks. 2% have a LOC. 46% have 28 to 32 year amortization period. Reverse mortgages have increased 59%.
The median purchase price for existing homes is $107,000. The price for new is $240,000. Priorities when choosing a home are as follows: 28% financial, 15% layout or design, 10% size. When folks move or relocate the priorities are as follows: 20% for job, 14% for friends and family, 10% for the neighborhood, and 10% for the house. In terms of home size, 64% of homes have 3 or more bedrooms. In new homes the number is 80%. 51% have more than 2 bathrooms. In new homes that number is 89%.
As a result of liberalized immigration policies beginning in 1965, the number of first generation Americans has quadrupled from 9.6 million in 1970 to 38 million in 2007. Almost 50% of the kids born in the U.S. from 2008 to 2009 are first generation Americans.