U.S. Survey Reveals Homes’ Characteristics

Among the survey’s findings:

• Home owners paid 2.3 percent more for their homes in 2011 than in 2009 — with the median purchase of price of homes $110,000 in 2011 compared to $107,500 in 2009. Meanwhile, new construction median purchase prices were higher at $235,000, which was below the $240,000 median in 2009.
• The median monthly expenses for home owners was $151 for real estate taxes; $121 for electricity; and $58 for property insurance.
• The median year occupied homes were constructed was 1974.
• 72.5% of the owner-occupied homes had central air and 46.3% had working carbon monoxide detectors.
• The highest percentage of homes had three bedrooms and two or more bathrooms.
• The most popular selected home amenities were porch, deck, balcony, or patio; telephone available; separate dining room; and usable fireplace.

“The last five years remind us how central housing is to each of us personally, to the fiscal health of our cities and counties, and the national economy,” says Kurt Usowski, HUD’s deputy assistant secretary for economic affairs. “From the American Housing Survey, we can see why people chose to move, how often homes need repairs, and the extent to which housing costs are outpacing income growth. All this information can help inform policymaking around continued recovery in the U.S. and in metropolitan areas around the country.”

You can search the housing data from the American Housing Survey, including breakdowns by metro, at the U.S. Census Web site.

Source: HUD