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Residential Finance Survey - Detailed Regional Tables: 2001

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Residential Finance Survey: 2001 - United States
Table 6-1a. 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		 473413 180409 293004

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs		 403520 159092 244428
In central cities 231452 92360 139092
Not in central cities 172068 66732 105336
Outside MAs 69893 21318 48575

Number of Housing Units

5 to 9 housing units		 262924 111274 151651
10 to 19 housing units 115066 45671 69395
20 to 29 housing units 49595 13615 35980
30 to 39 housing units 25654 5410 20245
40 to 49 housing units 20173 4440 15733

Manner of Acquisition

By purchase		 410529 144909 265620
Placed one new mortgage 288247 75879 212367
Placed two or more new mortgages 27328 4589 22739
Assumed mortgage(s) already on property 25403 9739 15664
Assumed mortgage(s) already on property
and placed new mortgage		 7538 3138 4401
Borrowed using assets other than this
property as collateral		 10160 6454 3706
Paid all cash-no borrowing 36203 32443 3760
Other manner 15650 12667 2982
By inheritance or gift 21821 16783 5038
By divorce 698 432 267
By tax free exchange of
other property		 5307 1857 3450
By foreclosure or assignment 4044 1837 2207
By some other manner 6926 3647 3279
Not reported 24087 10945 13142

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)		 155251 24442 130809
Sale of stock or other partnership
shares for this project		 4901 353 4547
Sale of previously owned stocks,
shares, or other securities		 5364 439 4925
Sale of land or other real estate 17520 2656 14864
Owner's cash, bank deposits,
share accounts, or bonds		 74359 10026 64334
Borrowing from a retirement plan 1510 0 1510
Borrowing using assets other than this
property as collateral		 13502 1327 12175
Proceeds from an insurance policy 572 0 572
From a state or local government source 1553 435 1117
From a non-profit organization 567 224 343
Proceeds from sale of tax credits 1971 238 1734
From parents or relatives 4921 547 4374
Other cash source 6424 2789 3635
Non-cash source 1312 550 762
No downpayment required 15377 3091 12285
Not reported 19538 3808 15731
Other properties 306379 152500 153878
Not reported 11784 3467 8317

Year Property Acquired

1999 to 2001 (part)		 91140 16231 74909
1997 and 1998 52887 9135 43752
1995 and 1996 38718 11964 26755
1990 to 1994 67783 20354 47429
1985 to 1989 59339 18354 40985
1980 to 1984 44084 21646 22438
1975 to 1979 40700 23249 17451
1970 to 1974 36790 24243 12547
1969 or earlier 41973 35234 6739

Building and Land Acquisition

Acquired at same time		 384471 143115 241356
Not acquired at same time 60628 26081 34546
Land not owned by building owner 4701 1618 3084
Not reported 23614 9595 14018

Property New or Previously Owned When
Acquired

Acquired by purchase		 410529 144909 265620
New 87505 38207 49299
Previously owned 314020 103003 211017
As residential property 293706 95355 198350
Converted from nonresidential use 20314 7648 12666
Other 3762 1844 1917
Not reported 5241 1854 3387
Other properties 38797 24555 14242
Not reported 24087 10945 13142

Year Structure Built

1999 to March 2000		 16200 2802 13398
1997 and 1998 10062 2083 7979
1995 and 1996 8448 2328 6120
1990 to 1994 21146 5040 16105
1980 to 1989 56750 17488 39262
1970 to 1979 79653 31859 47794
1960 to 1969 83085 35203 47882
1950 to 1959 44485 19004 25482
1940 to 1949 29326 11542 17783
1939 or earlier 124259 53060 71198

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)		 122916 16109 106808
Less than $20,000 27836 4789 23048
$20,000 to $39,999 43946 5837 38110
$40,000 to $59,999 24056 1894 22162
$60,000 to $79,999 9034 794 8240
$80,000 to $99,999 6216 445 5772
$100,000 to $124,999 4010 594 3416
$125,000 to $149,999 1885 249 1637
$150,000 to $174,999 1025 378 647
$175,000 to $199,999 591 0 591
$200,000 to $249,999 692 0 692
$250,000 to $299,999 447 0 447
$300,000 to $499,999 617 320 297
$500,000 or more 2009 632 1377
Median 35176 30885 35833
Mean 54240 65208 52599
Other properties 350497 164301 186196

Value

Less than $100,000		 35142 22586 12556
$100,000 to $199,999 69637 34127 35510
$200,000 to $299,999 66940 29724 37215
$300,000 to $399,999 54706 22742 31965
$400,000 to $499,999 41286 12694 28591
$500,000 to $749,999 63801 21041 42760
$750,000 to $999,999 40483 10918 29565
$1,000,000 to $1,499,999 40763 8819 31945
$1,500,000 to $1,999,999 20592 4640 15951
$2,000,000 to $2,999,999 16183 4119 12064
$3,000,000 to $3,999,999 9728 3590 6139
$4,000,000 to $4,999,999 3234 1047 2187
$5,000,000 or more 10918 4362 6556
Median 424903 316562 503889
Mean 809829 702593 875856

Value Per Housing Unit@8

Less than $20,000		 79353 44277 35076
$20,000 to $39,999 152336 57861 94475
$40,000 to $59,999 91174 29613 61561
$60,000 to $79,999 53573 15987 37586
$80,000 to $99,999 27568 9457 18111
$100,000 to $124,999 21496 7552 13944
$125,000 to $149,999 12359 3329 9029
$150,000 to $174,999 8616 2937 5679
$175,000 to $199,999 4568 1032 3537
$200,000 to $249,999 6665 1463 5202
$250,000 to $299,999 3206 1269 1937
$300,000 to $499,999 4929 2059 2870
$500,000 or more 7571 3573 3998
Median 41101 35875 45507
Mean 65729 61825 68133

Purchase Price as Percent of Value@8

Acquired by purchase		 410529 144909 265620
Purchased 1997 to 2001 (part) 122916 16109 106808
Less than 60 percent 15853 384 15469
60 to 69 percent 8476 118 8358
70 to 79 percent 14058 900 13158
80 to 99 percent 36861 1273 35588
100 percent or more 47118 13257 33861
Median 92 3733 89
Purchased 1990 to 1996 (part) 90462 23862 66600
Less than 40 percent 13259 5551 7708
40 to 59 percent 13870 4259 9612
60 to 79 percent 24693 4591 20102
80 to 99 percent 18737 4789 13949
100 percent or more 19510 4348 15161
Median 75 69 76
Purchased 1989 or earlier 197151 104939 92212
Less than 20 percent 32743 20451 12291
20 to 39 percent 38360 23349 15010
40 to 59 percent 38705 19374 19331
60 to 79 percent 29784 15664 14120
80 to 99 percent 16864 7674 9190
100 percent or more 39872 17954 21917
Median 54 49 59
Not acquired by purchase 62884 35500 27384

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000		 232295 82226 150069
Less than $5,000 49177 17074 32104
$5,000 to $9,999 47614 21967 25647
$10,000 to $24,999 72087 28506 43581
$25,000 to $49,999 32001 8139 23862
$50,000 to $74,999 11397 3352 8045
$75,000 to $99,999 4220 1181 3038
$100,000 to $149,999 6969 954 6015
$150,000 to $199,999 3498 424 3075
$200,000 to $299,999 2085 286 1799
$300,000 or more 3247 343 2903
Median 14028 11090 15949
Mean 93143 39550 122508
Properties with no capital
improvements between 1998 and 2000		 142023 56673 85350
Capital improvements not
reported		 99096 41511 57585

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000		 232295 82226 150069
Less than $500 51925 18073 33852
$500 to $999 48063 14923 33140
$1,000 to $2,499 79888 33062 46826
$2,500 to $4,999 29591 11429 18162
$5,000 to $7,499 8369 2421 5948
$7,500 to $9,999 3949 1379 2570
$10,000 to $14,999 3772 237 3535
$15,000 to $19,999 2152 138 2015
$20,000 to $29,999 2619 343 2276
$30,000 or more 1967 222 1745
Median 1303 1368 1258
Mean 9795 3254 13379
Properties with no capital
improvements between 1998 and 2000		 142023 56673 85350
Capital improvements not
reported		 99096 41511 57585

Monthly Rental Receipts Per Housing Unit

Acquired before 2000		 414809 172254 242555
Less than $100 40294 23321 16973
$100 to $199 39461 17282 22180
$200 to $299 54741 21186 33556
$300 to $399 66648 31671 34977
$400 to $499 59695 23813 35882
$500 to $599 44933 16866 28066
$600 to $799 28599 8491 20108
$800 to $999 39732 16116 23617
$1000 or more 38910 12450 26459
No rental receipts 1796 1058 738
Median 409 375 437
Mean 1035 610 1336
Acquired 2000 and 2001 (part) 58604 8155 50449

Rental Receipts as Percent of Value@8

Acquired before 2000		 414809 172254 242555
Less than 5 percent 14026 7040 6986
5 to 9 percent 151512 65110 86402
10 to 14 percent 111470 37620 73850
15 to 19 percent 65541 25134 40407
20 to 24 percent 27545 14148 13397
25 to 29 percent 10520 4237 6283
30 to 39 percent 10185 5699 4486
40 percent or more 20508 10620 9888
Median 12 12 12
Acquired 2000 and 2001 (part) 58604 8155 50449

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000		 414809 172254 242555
Less than 1.0 percent 71304 35365 35939
1.0 to 2.9 percent 49920 14823 35097
3.0 to 4.9 percent 44270 17019 27251
5.0 to 6.9 percent 24132 9222 14910
7.0 to 8.9 percent 21387 6991 14396
9.0 to 10.9 percent 18522 6900 11622
11.0 to 12.9 percent 7482 1592 5890
13.0 to 14.9 percent 9488 4715 4774
15.0 percent or more 43253 16119 27134
Not reported or not computed 125049 59508 65541
Median 4.1 3.7 4.3
Acquired 2000 and 2001 (part) 58604 8155 50449

Age Restrictions

Property restricted to people
age 55 or older		 111082 47092 63990
Property not restricted to people
age 55 or older		 339365 124006 215359
Not reported 22966 9311 13655

Age Composition

Over one-half the residents of the
building age 55 or older		 23718 9686 14032
Over one-half the residents of the
building not age 55 or older		 306032 108271 197761
Not reported 143663 62452 81211

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

Property provides meal service		 67402 30277 37125
Charge included in rent 49260 21107 28153
Charge not included in rent 250 139 111
Not reported 17892 9030 8861
Property does not provide meal
service		 34170 12291 21879
Not reported 371842 137842 233999

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan		 14327 316 14011
Government rental subsidy 51652 13273 38379
Government grant 3036 1269 1767
Property tax relief 7572 2386 5186
Federal income tax credit for
low-income, old or historic properties		 7008 1335 5673
Accelerated federal income tax
depreciation for low- and
moderate-income properties		 1429 346 1082
Subsidy from a non-profit corporation 1325 442 884
None of the above benefits 350862 140709 210154
Not reported 53138 22992 30146

Source of Property Benefits@1

With property benefits		 69413 16709 52704
Federal government 48163 10499 37664
State government 9841 2717 7124
Local government 16050 4838 11212
Non-profit corporation 1325 442 884
Not reported 1766 554 1212
With no property benefits 350862 140709 210154
Not reported 53138 22992 30146

Reason for Benefits@1

With property benefits		 69413 16709 52704
Occupied by low- or moderate-income
individuals		 55508 12398 43110
Occupied by elderly or disabled
individuals		 20098 5248 14850
A historic structure 1830 940 890
Located in a community development or
economic development area		 3617 774 2843
Covered by a Homestead Exemption 534 391 143
Covered by a Community Land Trust 54 0 54
Covered by disaster relief 540 0 540
Other reason 1781 740 1041
Not reported 3620 711 2908
With no property benefits 350862 140709 210154
Not reported 53138 22992 30146

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance		 143378 42184 101194
Property has never had tenants
receiving Section 8 assistance		 278699 116436 162263
Not reported 51336 21789 29547

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)		 289918 116514 173404
Limited partnership 70737 23995 46741
Joint venture 5059 1655 3403
General partnership 23481 7304 16178
Life insurance company 570 313 257
Depository institution 248 0 248
Public real estate investment trust 1840 1238 602
Private real estate investment trust 655 451 204
Corporation - other than real estate
investment trust		 52917 18100 34818
Housing cooperative organization 3053 1794 1259
Non-profit or church-related institution 11617 5046 6571
Pension fund 0 0 0
Fraternal organization 46 38 8
Other 13273 3961 9312

RECURRING EXPENSES


Real Estate Tax Per Housing Unit

Acquired before 2000		 414809 172254 242555
Less than $100 43065 23068 19997
$100 to $199 38164 18994 19170
$200 to $299 49768 21898 27870
$300 to $399 50428 20565 29862
$400 to $499 43117 20037 23080
$500 to $599 35151 15856 19296
$600 to $699 25093 8360 16733
$700 to $799 23674 6437 17237
$800 to $899 18188 5794 12394
$900 to $999 11701 2497 9204
$1,000 to $1,249 22711 7376 15335
$1,250 to $1,499 12097 3837 8260
$1,500 to $1,999 13177 2974 10203
$2,000 to $2,499 4555 1585 2969
$2,500 or more 9410 2270 7140
Not reported 14509 10704 3805
Median 443 382 497
Mean 622 505 701
Acquired 2000 and 2001 (part) 58604 8155 50449

Real Estate Tax Per $1,000 Value

Acquired before 2000		 414809 172254 242555
Less than $5 93808 46504 47303
$5 to $9 80083 28590 51493
$10 to $14 76225 24647 51578
$15 to $19 44347 18637 25710
$20 to $24 35455 12868 22587
$25 to $29 19251 6867 12384
$30 to $39 50413 23094 27320
$40 to $49 542 192 349
$50 to $59 0 0 0
$60 or more 177 150 26
Not reported or not computed 14509 10704 3805
Median 12 11 12
Acquired 2000 and 2001 (part) 58604 8155 50449

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000		 414809 172254 242555
Less than 5 percent 66506 31208 35298
5 to 9 percent 146608 59813 86795
10 to 14 percent 82509 32473 50036
15 to 19 percent 47694 15609 32085
20 to 24 percent 18873 7600 11274
25 to 29 percent 10196 3360 6837
30 to 34 percent 7341 1690 5651
35 to 39 percent 2883 1413 1470
40 percent or more 14284 5835 8449
Not reported or not computed 17915 13254 4661
Median 9 9 10
Acquired 2000 and 2001 (part) 58604 8155 50449

Property Management

Property managed by paid property
management company		 199687 70444 129243
Property not managed by paid property
management company		 232854 91263 141591
Not reported 40872 18702 22170

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000		 414809 172254 242555
Less than $100 8318 2850 5468
$100 to $199 14438 5412 9026
$200 to $299 22837 8130 14707
$300 to $399 23513 8150 15363
$400 to $499 20548 7984 12564
$500 to $599 16953 6442 10511
$600 to $699 13962 5840 8122
$700 to $799 9138 3021 6117
$800 to $899 6292 2566 3726
$900 to $999 3624 1449 2175
$1,000 to $1,249 8242 1826 6416
$1,250 to $1,499 5236 2419 2817
$1,500 to $1,999 7274 3464 3810
$2,000 to $2,499 2650 1372 1278
$2,500 or more 9546 2316 7229
No expenses 157687 67249 90437
Not reported or not computed 84550 41763 42787
Median 484 489 480
Acquired 2000 and 2001 (part) 58604 8155 50449

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000		 414809 172254 242555
Less than $100 11843 6362 5481
$100 to $199 24597 9791 14806
$200 to $299 25791 8943 16848
$300 to $399 25308 9136 16173
$400 to $499 23902 9424 14478
$500 to $599 27507 13314 14193
$600 to $699 21264 9916 11349
$700 to $799 21624 6336 15288
$800 to $899 19638 8591 11047
$900 to $999 10948 3652 7296
$1,000 to $1,249 29728 12832 16896
$1,250 to $1,499 17692 5381 12311
$1,500 to $1,999 15873 5322 10551
$2,000 to $2,499 9370 3793 5577
$2,500 or more 24750 8923 15827
No expenses 11708 6389 5319
Not reported or not computed 93266 44150 49116
Median 675 639 705
Acquired 2000 and 2001 (part) 58604 8155 50449

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000		 414809 172254 242555
Less than $250 44188 16767 27421
$250 to $499 86787 34769 52018
$500 to $749 69517 26786 42731
$750 to $999 38770 14745 24025
$1,000 to $1,249 23629 8830 14799
$1,250 to $1,499 11135 5411 5724
$1,500 to $1,749 7129 3670 3459
$1,750 to $1,999 4399 1574 2825
$2,000 to $2,499 4646 2004 2642
$2,500 or more 8738 1959 6779
No expenses 26546 11538 15008
Not reported or not computed 89324 44200 45124
Median 567 563 569
Acquired 2000 and 2001 (part) 58604 8155 50449
@1Detail does not add to total because more than one answer accepted.
@8May not add to total because not reported and not calculated are not included.
@8May not add to total because not reported and not calculated are not included.
@8May not add to total because not reported and not calculated are not included.
@8May not add to total because not reported and not calculated are not included.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.


Go to Residential Finance Survey: 2001 Detailed Regional Tables
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Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: December 07, 2005