Value of Owner-Occupied Housing in Franklin County

In 1990, the median value of all owner-occupied housing units in Franklin County was $73,800. Although this is a 55% increase in median value since 1980, when adjusted for inflation, the real increase is only 2.1%. This real increase of 2.1% is substantially smaller than the 23.4% increase experienced in Franklin County between 1970 and 1980.

As indicated in the graph, the largest category of Franklin County housing units, (60,192 or 34%), occurs in the $50,000 to $74,999 range. At the extremes, there were 1,898 units (or 1.8% of total owner-occupied units) with values below $25,000, and 655 units (0.4% of the total units) with values greater than $500,000.

By definition, the median value of owner-occupied housing indicates that half of all owner-occupied housing units have values below the median and half have values above the median.

Value of Owner-Occupied Housing in Franklin County: 1990

   Range                    Units      Percent


    Less than $15,000         945          0.5
   $15,000 to $19,999         953          0.5
   $20,000 to $24,999       1,505          0.8
   $25,000 to $29,999       2,668          1.4
   $30,000 to $34,999       4,599          2.5
   $35,000 to $39,999       6,343          3.4
   $40,000 to $44,999       8,697          4.7
   $45,000 to $49,999       9,760          5.3
   $50,000 to $59,999      23,590         12.7
   $60,000 to $74,999      36,602         19.7
   $75,000 to $99,999      40,198         21.7
 $100,000 to $124,999      19,695         10.6
 $125,000 to $149,999      11,617          6.3
 $150,000 to $174,999       6,264          3.4
 $175,000 to $199,999       3,946          2.1
 $200,000 to $249,999       3,753          2.0
 $250,000 to $299,999       1,850          1.0
 $300,000 to $399,999       1,478          0.8
 $400,000 to $499,999         525          0.3
     $500,000 or more         655          0.4


 Total                    185,643       100.00

Median Value of Owner-Occupied Housing in Franklin County in Actual Dollars and Dollars Adjusted for Inflation: 1970 - 1990

                                 Adjusted for
 Years                Actual        Inflation


  1970               $18,700          $58,548   
  1980               $47,100          $72,271
  1990               $73,800          $73,800

Note: The 1970 and 1980 median values were adjusted for inflation using the Implicit Price Deflator of the GNP for those particular years. This method allows the user to observe the real changes in value over time.

The 1970 Median Value was computed as follows: $18,700 [1970 dollars] * (131.5/42.0) [1990 Deflator/1970 Deflator] = $58,548 [in 1990 dollars]

The 1980 Median Value was computed as follows: $47,100 [1980 dollars] * (131.5/85.7) [1990 Deflator/1980 Deflator] = $72,271 [in 1990 dollars]

Source: Census of Population and Housing, U.S. Bureau of the Census

Filename: CD-026

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