[Census Bureau] Housing Affordability 1995 ------------------------------------------------------------------------ Table 5-7: Effect of Changes in Interest Rates on Affordability Status of Black and Hispanic Origin Families and Unrelated Individuals for a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1995 (Numbers in thousands. Data may not add to total due to rounding) ---------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-priced home in area | |-------------------------------------------------------------------------------------------| | Black | Hispanic 1 | |--------------------------------------------|----------------------------------------------| | Total | Unrelated | Total | Unrelated | | Families | Individuals | Families | Individuals | |----------------------|---------------------|------------------------|---------------------| Change in interest rate | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -------------------------------|-----------|----------|----------|----------|-----------|------------|----------|----------| USING CONVENTIONAL, FIXED-RATE,| | | | | | | | | 30-YEAR FINANCING | | | | | | | | | | | | | | | | | | Total | | | | | | | | | Rate 3.0 percent lower.........| 7,022 | 77.6 | 3,774 | 82.4 | 5,562 | 78.6 | 2,211 | 88.6 | Rate 2.0 percent lower.........| 7,097 | 78.4 | 3,792 | 82.8 | 5,606 | 79.2 | 2,225 | 89.1 | Rate 1.0 percent lower.........| 7,202 | 79.6 | 3,845 | 84.0 | 5,669 | 80.1 | 2,236 | 89.6 | Rate 0.5 percent lower.........| 7,240 | 80.0 | 3,860 | 84.3 | 5,698 | 80.5 | 2,248 | 90.1 | Current rate...................| 7,287 | 80.5 | 3,892 | 85.0 | 5,722 | 80.8 | 2,256 | 90.4 | Rate 0.5 percent higher........| 7,334 | 81.0 | 3,897 | 85.1 | 5,758 | 81.3 | 2,256 | 90.4 | Rate 1.0 percent higher........| 7,369 | 81.4 | 3,906 | 85.3 | 5,780 | 81.7 | 2,256 | 90.4 | Rate 2.0 percent higher........| 7,440 | 82.2 | 3,960 | 86.5 | 5,847 | 82.6 | 2,270 | 90.9 | Rate 3.0 percent higher........| 7,473 | 82.5 | 4,008 | 87.5 | 5,883 | 83.1 | 2,281 | 91.4 | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | Rate 3.0 percent lower.........| 2,442 | 55.5 | 1,055 | 59.1 | 1,763 | 55.3 | 496 | 64.6 | Rate 2.0 percent lower.........| 2,517 | 57.2 | 1,073 | 60.1 | 1,807 | 56.7 | 510 | 66.4 | Rate 1.0 percent lower.........| 2,617 | 59.5 | 1,125 | 63.0 | 1,863 | 58.4 | 521 | 67.8 | Rate 0.5 percent lower.........| 2,654 | 60.3 | 1,141 | 63.9 | 1,892 | 59.4 | 533 | 69.5 | Current rate...................| 2,702 | 61.4 | 1,163 | 65.1 | 1,917 | 60.1 | 533 | 69.5 | Rate 0.5 percent higher........| 2,739 | 62.3 | 1,168 | 65.4 | 1,945 | 61.0 | 533 | 69.5 | Rate 1.0 percent higher........| 2,768 | 62.9 | 1,177 | 65.9 | 1,961 | 61.5 | 533 | 69.5 | Rate 2.0 percent higher........| 2,840 | 64.6 | 1,231 | 69.0 | 2,021 | 63.4 | 548 | 71.3 | Rate 3.0 percent higher........| 2,872 | 65.3 | 1,279 | 71.6 | 2,058 | 64.6 | 559 | 72.7 | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | Rate 3.0 percent lower.........| 4,580 | 98.4 | 2,719 | 97.3 | 3,799 | 97.7 | 1,715 | 99.2 | Rate 2.0 percent lower.........| 4,580 | 98.4 | 2,719 | 97.3 | 3,799 | 97.7 | 1,715 | 99.2 | Rate 1.0 percent lower.........| 4,585 | 98.5 | 2,719 | 97.3 | 3,806 | 97.8 | 1,715 | 99.2 | Rate 0.5 percent lower.........| 4,585 | 98.5 | 2,719 | 97.3 | 3,806 | 97.8 | 1,715 | 99.2 | Current rate...................| 4,585 | 98.5 | 2,729 | 97.7 | 3,806 | 97.8 | 1,722 | 99.7 | Rate 0.5 percent higher........| 4,595 | 98.7 | 2,729 | 97.7 | 3,813 | 98.0 | 1,722 | 99.7 | Rate 1.0 percent higher........| 4,601 | 98.9 | 2,729 | 97.7 | 3,819 | 98.2 | 1,722 | 99.7 | Rate 2.0 percent higher........| 4,601 | 98.9 | 2,729 | 97.7 | 3,825 | 98.3 | 1,722 | 99.7 | Rate 3.0 percent higher........| 4,601 | 98.9 | 2,729 | 97.7 | 3,825 | 98.3 | 1,722 | 99.7 | | | | | | | | | | ---------------------------------------------------------------------------------------------------------------------------- 1 Persons of Hispanic origin may be of any race Table 5-7: Effect of Changes in Interest Rates on Affordability Status of Black and Hispanic Origin Families and Unrelated Individuals for a Median-Priced Home, by Current Tenure and Type of Financing: United States, 1995 - Continued (Numbers in thousands. Data may not add to total due to rounding) ---------------------------------------------------------------------------------------------------------------------------- | Cannot afford median-priced home in area | |-------------------------------------------------------------------------------------------| | Black | Hispanic 1 | |--------------------------------------------|----------------------------------------------| | Total | Unrelated | Total | Unrelated | | Families | Individuals | Families | Individuals | |----------------------|---------------------|------------------------|---------------------| Change in interest rate | Number | Percent | Number | Percent | Number | Percent | Number | Percent | -------------------------------|-----------|----------|----------|----------|-----------|------------|----------|----------| USING FHA, FIXED-RATE, 30-YEAR | | | | | | | | | FINANCING | | | | | | | | | | | | | | | | | | Total | | | | | | | | | Rate 3.0 percent lower.........| 6,895 | 76.2 | 3,738 | 81.6 | 5,467 | 77.2 | 2,204 | 88.3 | Rate 2.0 percent lower.........| 6,984 | 77.1 | 3,784 | 82.6 | 5,525 | 78.1 | 2,226 | 89.2 | Rate 1.0 percent lower.........| 7,101 | 78.4 | 3,824 | 83.5 | 5,612 | 79.3 | 2,241 | 89.8 | Rate 0.5 percent lower.........| 7,170 | 79.2 | 3,849 | 84.1 | 5,652 | 79.8 | 2,248 | 90.1 | Current rate...................| 7,201 | 79.5 | 3,867 | 84.4 | 5,682 | 80.3 | 2,256 | 90.4 | Rate 0.5 percent higher........| 7,240 | 80.0 | 3,887 | 84.9 | 5,703 | 80.6 | 2,256 | 90.4 | Rate 1.0 percent higher........| 7,291 | 80.5 | 3,901 | 85.2 | 5,756 | 81.3 | 2,270 | 90.9 | Rate 2.0 percent higher........| 7,341 | 81.1 | 3,954 | 86.3 | 5,806 | 82.0 | 2,281 | 91.4 | Rate 3.0 percent higher........| 7,388 | 81.6 | 3,998 | 87.3 | 5,845 | 82.6 | 2,281 | 91.4 | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | Rate 3.0 percent lower.........| 2,354 | 53.5 | 1,034 | 57.9 | 1,683 | 52.8 | 489 | 63.6 | Rate 2.0 percent lower.........| 2,443 | 55.5 | 1,080 | 60.5 | 1,735 | 54.4 | 511 | 66.6 | Rate 1.0 percent lower.........| 2,555 | 58.1 | 1,120 | 62.7 | 1,815 | 56.9 | 526 | 68.5 | Rate 0.5 percent lower.........| 2,624 | 59.6 | 1,135 | 63.6 | 1,855 | 58.2 | 526 | 68.5 | Current rate...................| 2,645 | 60.1 | 1,153 | 64.6 | 1,878 | 58.9 | 533 | 69.5 | Rate 0.5 percent higher........| 2,678 | 60.9 | 1,173 | 65.7 | 1,893 | 59.4 | 533 | 69.5 | Rate 1.0 percent higher........| 2,729 | 62.0 | 1,187 | 66.5 | 1,940 | 60.8 | 548 | 71.3 | Rate 2.0 percent higher........| 2,779 | 63.2 | 1,240 | 69.5 | 1,990 | 62.4 | 559 | 72.7 | Rate 3.0 percent higher........| 2,821 | 64.1 | 1,284 | 71.9 | 2,022 | 63.4 | 559 | 72.7 | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | Rate 3.0 percent lower.........| 4,541 | 97.6 | 2,704 | 96.8 | 3,784 | 97.3 | 1,715 | 99.2 | Rate 2.0 percent lower.........| 4,541 | 97.6 | 2,704 | 96.8 | 3,790 | 97.4 | 1,715 | 99.2 | Rate 1.0 percent lower.........| 4,546 | 97.7 | 2,704 | 96.8 | 3,797 | 97.6 | 1,715 | 99.2 | Rate 0.5 percent lower.........| 4,546 | 97.7 | 2,714 | 97.1 | 3,797 | 97.6 | 1,722 | 99.7 | Current rate...................| 4,556 | 97.9 | 2,714 | 97.1 | 3,804 | 97.8 | 1,722 | 99.7 | Rate 0.5 percent higher........| 4,562 | 98.0 | 2,714 | 97.1 | 3,810 | 97.9 | 1,722 | 99.7 | Rate 1.0 percent higher........| 4,562 | 98.0 | 2,714 | 97.1 | 3,816 | 98.1 | 1,722 | 99.7 | Rate 2.0 percent higher........| 4,562 | 98.0 | 2,714 | 97.1 | 3,816 | 98.1 | 1,722 | 99.7 | Rate 3.0 percent higher........| 4,568 | 98.1 | 2,714 | 97.1 | 3,822 | 98.3 | 1,722 | 99.7 | | | | | | | | | | ---------------------------------------------------------------------------------------------------------------------------- 1 Persons of Hispanic origin may be of any race Source: U.S. Bureau of the Census ------------------------------------------------------------------------ Go to Housing Affordability 1995 Last Revised: Wednesday, 22-Sep-99 07:42:23 People | Housing | Business | Geography | News | Subjects A to Z | Search | Catalog | Data Tools | Privacy | Home [______] [U.S. Census Bureau: Helping You Make Informed Decisions]