About 7.2 million homeowners took out home equity lines of credit last year, up 12 percent from 2001 when 6.4 million such credit lines were established, according to statistics released today by the U.S. Census Bureau.

The statistics came from the American Housing Survey, which is sponsored by the Department of Housing and Urban Development. The survey provides information on a variety of topics, including home ownership, characteristics of homes and their owners, housing costs, vacation homes, gated communities and people’s views of their neighborhoods.

Some highlights from the 2003 American Housing Survey included:

  • About 3.8 million homeowners had lump-sum home equity mortgages, down nearly 20 percent from 2001, when there were 4.7 million such loans.

  • Homeowners occupied more than 72 million homes. Overall, the nation had about 106 million occupied housing units.

  • Renters occupied 33.6 million housing units.

  • The nation’s median current mortgage interest rate was 6.7 percent, down from 7.5 percent in 2001.

  • The median value of owner-occupied homes was $140,000.

  • Between 2001 and 2003, the number of owner-occupied units with four or more bedrooms increased by about 1 million to 18.7 million.

  • There were 3 million owner-occupied homes in gated communities.

  • The vacancy rate for rental housing units was 9.6 percent, up from 7.8 percent in 2001.

The American Housing Survey was first conducted in 1973.

***

Send tips or a Letter to the Editor to jessica@inman.com or call (510) 658-9252, ext. 133.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×