NATION’S HOUSING STOCK HITS 128 MILLION UNITS, NEW REPORT FROM THE FEDERAL GOVERNMENT SHOWS

October 25, 2008

Housing units in the U.S. increased from 124.4 million in 2005 to 128.2 million in 2007, according to the 2007 American Housing Survey released Monday by the U.S. Census Bureau.

Included in the survey are highlights of the characteristics of the nation’s housing stock, such as whether a home has air conditioning; what type of heating fuel is used in the home; satisfaction with the neighborhood by the homeowners; and the home’s size. The survey also covers the demographic characteristics of the housing units’ occupants.

Among the findings of the 2007 survey, the median monthly housing costs for owners was $927 and $755 for renters. The median home value in 2007 was $191,471, and the median monthly payment for principal and interest was $852 for owner-occupied housing. In addition, among the 75.6 million homes that were owner-occupied, 24.9 million units, or one in three, were owned free and clear without a mortgage, according to the survey.

Posted in Real Estate