The median size of the American home continues to grow, as does its value, according to the just-released American Housing Survey for the United States in 1995, the premier source of information on the U.S. housing stock between the censuses.
Monthly housing costs for the 97.7 million households in the United States continued their moderate advance, reaching $543 in 1995, compared with $497 in 1993. The gap in housing costs between homeowners ($563 per month) and renters ($523 per month) has widened somewhat since 1993, though it remains under 10 percent. However, this disparity is consistent with the more rapid increase in income among homeowners, so shares of household income spent on housing remain unchanged at 18 percent for owners, compared with 28 percent for renters.
The median value of an owner-occupied house was $92,500 in 1995, but this figure conceals sharp regional disparities. Median home values ranged from only $76,000 in the South and $80,100 in the Midwest to $118,900 in the Northeast and $140,300 in the West (or almost 85 percent higher than the median value in the South). The South fueled the booming housing market of the early 1990s. Although the region accounts for only 35 percent of the Nation's households, it was the site of 45 percent of all new home construction between 1991 and 1995.
The American Housing Survey has long helped researchers and housing industry analysts track long-term shifts in the characteristics of the national housing stock. The new edition shows, for example, that even as household size held steady, the size of units continued to creep upward: While all units average 1,732 square feet, those built in the last 4 years have an average of 1,920 square feet. Although less than 40 percent of the Nation's housing stock has two or more bathrooms, more than 80 percent of recently built homes -- up from 75 percent in 1993 -- have these amenities.
The types of data collected for American Housing Survey can change in response to new market and social trends related to the way Americans use housing. Information gathered for the first time in the 1995 survey reveals that:
The American Housing Survey, conducted every 2 years by the Bureau of the Census for HUD, provides detailed data on housing costs, home financing, household equipment, housing and neighborhood conditions, and the households that occupy the sample housing units. Data are based on a sample of 55,000 housing units and are reported by region and nationally.
Copies of this authoritative source of detailed housing data are available from HUD USER for $5 each. Please use the order form to obtain copies.
Next Article | Previous Article | Contact HUD USER | Table of Contents