Monthly Cost to Home Owners by Mortgage Status in Franklin County

CLICK HERE FOR GRAPHIC OF OWNERS WITH A MORTGAGE

CLICK HERE FOR GRAPHIC OF OWNERS WITHOUT A MORTAGE

Of the 188,789 owner-occupied housing units in Franklin County in 1989, 74.6% were mortgaged. For households with a mortgage, median monthly owner costs were $706 in 1989. Median monthly costs for the 48,028 non-mortgaged units, in contrast, was $213.

Since 1979, median monthly owner costs for mortgaged units has increased by 20.7%, after adjusting for inflation. Median monthly owner costs for non-mortgaged units has remained virtually unchanged since 1979 when adjusted for inflation.

Selected monthly owner costs include the sum payments for: mortgages and other similar debts on the property; real estate taxes; fire, hazard, and flood insurance; utilities (electric, gas and water); and fuels (oil, coal, kerosene, wood, etc.). Payments for maintenance and repairs are not included. Also, the data does not include owner-occupied condominiums, mobile homes, or trailers. Selected monthly housing costs for non-mortgaged units are typically lower because they no longer require mortgage payments. Mortgages are the regular monthly amount, both principal and interest, required by the lender on mortgages (including second or junior mortgages), deed or trust, or similar debt on the property; or payments on a contract to purchase the property.

Monthly Cost to Home Owners by Mortgage Status in Franklin County: 1979 - 1989

Monthly Costs          1979      Monthly Costs          1989

With Mortgage                    With Mortgage
 less than $100         190       less than $300       6,591
 $100-199             7,964       $300-499            25,390
 $200-299            32,031       $500-699            37,347
 $300-399            30,369       $700-999            43,119
 $400-499            22,478       $1,000-1,499        20,602
 $500-599            13,109       $1,500-1,999         4,931
 $600-749             8,932       $2,000 +             2,781
 $750 +               5,457

 Total              163,565       Total              188,789

 Median Costs          $364       Median Costs          $706 
 Inflation Adj         $585       Inflation Adj.        $706


Not Mortgaged                    Not Mortgaged
 less than $50          209       less than $100         922
 $50-124             19,062         $100-199          19,859
 $125-199            18,327         $200-299          19,608
 $200-249             3,194         $300-399           5,013
 $250 +               2,243         $400 +             2,626

 Total               43,035         Total             48,028

 Median Costs          $132         Median Costs        $213 
 Inflation Adj.        $212         Inflation Adj.      $213


Specified Owner-
Occupied Units      163,565                          188,789

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

Filename: CD-041

Return to the PIE Home Page