New HUD Research Tool Offers a Wealth of Housing Data

Writers, researchers, and those interested in housing market data have a great new tool to work (or play) with, courtesy of the U.S. CensusrnBureau and the Department of Housing and Urban Development.  The AmericanrnFactFinder data access tool, an interactivernsource of information gathered from the 2011 American Housing Survey (AHS) hasrna wealth of information on the nation’s homes and how their occupants live in,rnfinance, and feel about them.</p

Arnwide range of specific topics is available in the database including the age ofrnthe nation’s housing stock, home size and features including those for accessibility,rnsocio-economic characteristics of the householder, purchase price and type ofrnmortgage, housing problems, and recent home improvement activity. </p

Therntool is easy to use and to customize for specific searches.  For example, a visitor seeking information onrnmortgages can quickly determine how many people over the age of 65 have reversernmortgages (417,000) or the number of outstanding mortgages in the Northeastrnregion with interest rates exceeding 8 percent (389,000).  The number and type of first mortgages and homernequity loans outstanding (right down to whether they are the regular or lumprnsum variety, credit limits, and the distribution of monthly payments); mortgagernbalances, loan-to-value ratios, and dozens of other home financing facts.  Data is broken down by region, very broadrndefinitions of ethnicity, inside/outside MSAs, and is available for bothrnmanufactured and conventional housing.      </p

HUDrnand the Census provided us examples of other factoids that can be found usingrnthe tool:   </p<ul class="unIndentedList"<liThe median year American homes werernbuilt was 1974, with owner-occupied units being slightly newer (1976 comparedrnwith 1972 for renter-occupied).</li<liSingle family homes and mobile homesrnhave a median size of 1,800 square feet.rnNewer homes are larger (2,200) and owner occupied homes at 1,800 feetrnare larger than rented homes (1,300 square feet.) </li<liSixty-four percent of homes have atrnleast three bedrooms as do 74 percent of homes built within the last four years.rnFifty-two percent of all homes have twornor more bathrooms and 83 percent of newer homes.</li<liAbout two-thirds of homes haverncentral air conditioning; eight in 10 units have a washing machine and clothesrndryer. </li<liMany homes have features tornaccommodate disabilities. Sixty-fourrnpercent had floors with no steps between rooms, 48 percent had entry levelrnbathrooms, and 36 percent had first floor bedrooms. </li<liAmericans like their homes; 71rnpercent give them at least an eight on a 10 point scale and 29 percent raternthem at 10. Residents of newrnconstruction like their homes even better; 46 percent give their homes a 10.</li<liOn average, households pay $927 perrnmonth, or 24 percent of their household income, for housing. The cost is higherrnfor residents of new construction, with median cost being $1,340 per month orrn24 percent of household income. Renters generally pay less in housing costrn($845 versus $1,008 for owners per month), but a higher percentage of theirrnhousehold income (31 percent versus 20 percent for owners).</li<liMore than a fifth (21 percent) ofrnall primary mortgage holders reported a change in their monthly payment in thernlast 12 months. The main reason for their payment change was because of arnchange in property taxes or homeowners insurance (71 percent).</li<liOf the 43,740 owned homes in which arnhome improvement had been made in the last two years, 35 percent replaced orrnadded an appliance or some type of major equipment, 19 percent replaced orrnadded plumbing fixtures and 17 percent replaced or added a heating andrnair-conditioning system.</li

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