Households pay 24 percent of their total income for housing on average. The average expense: $927 a month.
Renters generally pay less in housing cost ($845 versus $1,008 for owners per month), but they usually pay a higher percentage of their household income than owners (31 percent versus 20 percent).
Twenty percent of recent movers identified convenience to their work as the most important factor in choosing a neighborhood.
So says the Census Bureau in its 2011 American Housing Survey, the latest year for results.
If you’d like more tidbits on the nation’s 115 million occupied homes, read on. For example, questions about safety, health hazards and accessibility demonstrate that 64 percent of houses have Continue reading →
MANHATTAN BUCKS WORSENING STATEWIDE TREND OF RISING MORTGAGE DELINQUENCIES
The mortgage loan delinquency rate in Brooklyn, the Bronx and Queens in the final quarter of 2010 was up from year-earlier levels, according to a recent quarterly analysis. The uptick could well lead to a rise in foreclosure activity in coming months.
Manhattan was the only borough to see a decline in delinquencies, with a slight drop of 0.04 percentage points in the period.
APARTMENT MARKET SHOWS POSSIBLE SIGNS OF STRENGTH
Sales in the Manhattan co-op and condo market show signs of bouncing back after dropping sharply last month, reports the Wall Street Journal.
For lower-priced housing, head to a whiter shade of pale. (Click to expand.)
The U.S. Census Bureau released five-year American Community Survey (ACS) estimates for the first time yesterday, making available social, economic, housing and demographic statistics for every community in the nation.
Reeves, Tex., was among counties with the lowest median home value–$29,000–while Nantucket, Mass. was among those with the highest median–approximately $1 million.
PRICES ARE UP AND SALES ACTIVITY IS DOWN IN THIRD QUARTER
After two years of unpredictable sales trends, the Manhattan real estate market seems to have settled into a more typical and seasonal pattern, with prices rising slightly and sales volume dipping in the recent summer months, according to third-quarter market reports, says the New York Times.
Prices increased for the fifth straight quarter, with the average sales price hovering around $1.43 million and the median price around $910,000, according to data provided by the city’s four largest brokerage firms. But prices are still well below the market’s height a couple of years ago, when the average was higher than $1.7 million and the median was close to $1 million.