[Census Bureau] Housing Affordability 1995 ------------------------------------------------------------------------ Table 5-8: Effect of Changes in Interest Rates on Affordability Status of Black and Hispanic Origin Families and Unrelated Individuals for a Modestly 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 modestly 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.........| 6,437 | 71.1 | 3,478 | 76.0 | 5,208 | 73.6 | 2,093 | 83.8 | Rate 2.0 percent lower.........| 6,498 | 71.8 | 3,502 | 76.5 | 5,213 | 73.6 | 2,117 | 84.8 | Rate 1.0 percent lower.........| 6,518 | 72.0 | 3,523 | 76.9 | 5,258 | 74.3 | 2,123 | 85.1 | Rate 0.5 percent lower.........| 6,540 | 72.2 | 3,523 | 76.9 | 5,274 | 74.5 | 2,138 | 85.7 | Current rate...................| 6,566 | 72.5 | 3,528 | 77.0 | 5,287 | 74.7 | 2,138 | 85.7 | Rate 0.5 percent higher........| 6,621 | 73.1 | 3,544 | 77.4 | 5,313 | 75.1 | 2,150 | 86.1 | Rate 1.0 percent higher........| 6,627 | 73.2 | 3,555 | 77.6 | 5,347 | 75.5 | 2,159 | 86.5 | Rate 2.0 percent higher........| 6,654 | 73.5 | 3,577 | 78.1 | 5,393 | 76.2 | 2,159 | 86.5 | Rate 3.0 percent higher........| 6,745 | 74.5 | 3,605 | 78.7 | 5,405 | 76.4 | 2,159 | 86.5 | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | Rate 3.0 percent lower.........| 1,932 | 43.9 | 788 | 44.2 | 1,445 | 45.3 | 389 | 50.7 | Rate 2.0 percent lower.........| 1,993 | 45.3 | 812 | 45.5 | 1,450 | 45.5 | 413 | 53.8 | Rate 1.0 percent lower.........| 2,013 | 45.8 | 833 | 46.7 | 1,495 | 46.9 | 413 | 53.8 | Rate 0.5 percent lower.........| 2,035 | 46.3 | 833 | 46.7 | 1,512 | 47.4 | 429 | 55.8 | Current rate...................| 2,061 | 46.9 | 838 | 47.0 | 1,524 | 47.8 | 429 | 55.8 | Rate 0.5 percent higher........| 2,107 | 47.9 | 854 | 47.9 | 1,550 | 48.6 | 435 | 56.6 | Rate 1.0 percent higher........| 2,113 | 48.0 | 861 | 48.2 | 1,584 | 49.7 | 444 | 57.8 | Rate 2.0 percent higher........| 2,129 | 48.4 | 882 | 49.4 | 1,618 | 50.8 | 444 | 57.8 | Rate 3.0 percent higher........| 2,219 | 50.5 | 903 | 50.6 | 1,630 | 51.1 | 444 | 57.8 | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | Rate 3.0 percent lower.........| 4,505 | 96.8 | 2,690 | 96.3 | 3,763 | 96.7 | 1,704 | 98.6 | Rate 2.0 percent lower.........| 4,505 | 96.8 | 2,690 | 96.3 | 3,763 | 96.7 | 1,704 | 98.6 | Rate 1.0 percent lower.........| 4,505 | 96.8 | 2,690 | 96.3 | 3,763 | 96.7 | 1,709 | 98.9 | Rate 0.5 percent lower.........| 4,505 | 96.8 | 2,690 | 96.3 | 3,763 | 96.7 | 1,709 | 98.9 | Current rate...................| 4,505 | 96.8 | 2,690 | 96.3 | 3,763 | 96.7 | 1,709 | 98.9 | Rate 0.5 percent higher........| 4,514 | 97.0 | 2,690 | 96.3 | 3,763 | 96.7 | 1,715 | 99.2 | Rate 1.0 percent higher........| 4,514 | 97.0 | 2,695 | 96.4 | 3,763 | 96.7 | 1,715 | 99.2 | Rate 2.0 percent higher........| 4,525 | 97.2 | 2,695 | 96.4 | 3,775 | 97.0 | 1,715 | 99.2 | Rate 3.0 percent higher........| 4,525 | 97.2 | 2,702 | 96.7 | 3,775 | 97.0 | 1,715 | 99.2 | | | | | | | | | | ----------------------------------------------------------------------------------------------------------------------------- 1 Persons of Hispanic origin may be of any race Table 5-8: Effect of Changes in Interest Rates on Affordability Status of Black and Hispanic Origin Families and Unrelated Individuals for a Modestly 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 modestly 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.........| 6,227 | 68.8 | 3,412 | 74.5 | 5,045 | 71.3 | 2,086 | 83.6 | Rate 2.0 percent lower.........| 6,268 | 69.2 | 3,428 | 74.9 | 5,072 | 71.7 | 2,097 | 84.0 | Rate 1.0 percent lower.........| 6,343 | 70.1 | 3,438 | 75.1 | 5,123 | 72.4 | 2,113 | 84.6 | Rate 0.5 percent lower.........| 6,363 | 70.3 | 3,454 | 75.4 | 5,136 | 72.6 | 2,121 | 85.0 | Current rate...................| 6,419 | 70.9 | 3,474 | 75.9 | 5,142 | 72.6 | 2,133 | 85.4 | Rate 0.5 percent higher........| 6,447 | 71.2 | 3,494 | 76.3 | 5,173 | 73.1 | 2,149 | 86.1 | Rate 1.0 percent higher........| 6,459 | 71.3 | 3,505 | 76.5 | 5,207 | 73.6 | 2,149 | 86.1 | Rate 2.0 percent higher........| 6,513 | 71.9 | 3,534 | 77.2 | 5,248 | 74.1 | 2,149 | 86.1 | Rate 3.0 percent higher........| 6,597 | 72.9 | 3,573 | 78.0 | 5,276 | 74.5 | 2,149 | 86.1 | | | | | | | | | | | | | | | | | | | Current owners | | | | | | | | | Rate 3.0 percent lower.........| 1,785 | 40.6 | 774 | 43.4 | 1,313 | 41.2 | 401 | 52.3 | Rate 2.0 percent lower.........| 1,827 | 41.5 | 791 | 44.3 | 1,340 | 42.0 | 407 | 52.9 | Rate 1.0 percent lower.........| 1,901 | 43.2 | 801 | 44.9 | 1,391 | 43.6 | 414 | 53.9 | Rate 0.5 percent lower.........| 1,915 | 43.5 | 816 | 45.7 | 1,404 | 44.0 | 422 | 54.9 | Current rate...................| 1,965 | 44.7 | 837 | 46.9 | 1,409 | 44.2 | 428 | 55.7 | Rate 0.5 percent higher........| 1,985 | 45.1 | 843 | 47.2 | 1,441 | 45.2 | 444 | 57.8 | Rate 1.0 percent higher........| 1,990 | 45.2 | 854 | 47.8 | 1,469 | 46.1 | 444 | 57.8 | Rate 2.0 percent higher........| 2,031 | 46.2 | 870 | 48.8 | 1,503 | 47.2 | 444 | 57.8 | Rate 3.0 percent higher........| 2,115 | 48.1 | 905 | 50.7 | 1,532 | 48.0 | 444 | 57.8 | | | | | | | | | | | | | | | | | | | Current renters | | | | | | | | | Rate 3.0 percent lower.........| 4,442 | 95.4 | 2,638 | 94.4 | 3,732 | 95.9 | 1,685 | 97.5 | Rate 2.0 percent lower.........| 4,442 | 95.4 | 2,638 | 94.4 | 3,732 | 95.9 | 1,691 | 97.8 | Rate 1.0 percent lower.........| 4,442 | 95.4 | 2,638 | 94.4 | 3,732 | 95.9 | 1,699 | 98.3 | Rate 0.5 percent lower.........| 4,447 | 95.6 | 2,638 | 94.4 | 3,732 | 95.9 | 1,699 | 98.3 | Current rate...................| 4,454 | 95.7 | 2,638 | 94.4 | 3,732 | 95.9 | 1,705 | 98.6 | Rate 0.5 percent higher........| 4,462 | 95.9 | 2,651 | 94.9 | 3,732 | 95.9 | 1,705 | 98.7 | Rate 1.0 percent higher........| 4,469 | 96.0 | 2,651 | 94.9 | 3,739 | 96.1 | 1,705 | 98.7 | Rate 2.0 percent higher........| 4,482 | 96.3 | 2,663 | 95.3 | 3,745 | 96.3 | 1,705 | 98.7 | Rate 3.0 percent higher........| 4,482 | 96.3 | 2,668 | 95.5 | 3,745 | 96.3 | 1,705 | 98.7 | | | | | | | | | | ----------------------------------------------------------------------------------------------------------------------------- 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]