Statistical Indicators

U.S. Census Bureau and HUD 2007 Homeownership Survey

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.


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