Housing Inventory

• The housing inventory in 1993 consisted of 106.6 million units, an increase of 2 million units since 1991.
• Vacant units accounted for about 11 ±0.3 percent of housing in our country.
• The typical year-round vacant housing unit was only slightly older than the average occupied unit but was considerably smaller.

Characteristics for Owner-Occupied Housing Units

• Of the 94.7 million occupied units in the United States, 61.3 million (65 ±0.5 percent ) were owner-occupied.
• Men living alone have a lower homeownership rate than women, yet, among single parents, single mothers were far less likely than single fathers to be homeowners.
• Owner-occupied homes were most likely to be single-family homes, with a median age of 27 years, six rooms including three bedrooms, and 1,800 square feet of living area.
• About 86 ±0.4 percent of homeowners had the amenities of a clothes washer and dryer, telephone, and private transportation. Only about 5 ±0.3 percent of owners reported that their homes had physical problems, but 64 ±0.6 percent noted problems with their neighborhood.
• Median income for owners was $36,485 ±471 in 1993, with 9 ±0.3 percent categorized as low-income households.
• Homeowners with a mortgaged home spent a median of about $800 each month for housing, or 22 percent of their income. Owners living in homes already paid off spent less than a third as much, or $240 per month, consuming 14 percent of their income.
• The median value of owner-occupied housing was about $86,500, and annual property taxes amounted to some $950.

Characteristics for Renter-Occupied Housing Units

• For renters, the typical home was an apartment with four median rooms, including two bedrooms, in a building 29 years old.
• Only about one-third of renters (35 percent) had all the conveniences of a telephone and washer and dryer in their unit.
• Renters evaluated their homes and neighborhoods less favorably than homeowners. Higher proportions of renters also cited crime and noise as neighborhood problems.
• The median income for renters was $19,000, and one-quarter of all renters were low-income households.
• The median monthly housing cost for renters was $487. The typical renter allocated about 29 percent of family income for rent and utilities.