Data Dictionary: ACS 2008 (1-Year Estimates)
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Data Source: U.S. Census Bureau
Table: B25100. Mortgage Status By Ratio Of Value To Household Income In The Past 12 Months [13]
Universe: Owner-occupied housing units
Table Details
B25100. Mortgage Status By Ratio Of Value To Household Income In The Past 12 Months
Universe: Owner-occupied housing units
Variable Label
B25100001
B25100002
B25100003
B25100004
B25100005
B25100006
B25100007
B25100008
B25100009
B25100010
B25100011
B25100012
B25100013
Relevant Documentation:
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
 
Mortgage Status
The data on mortgage status were obtained from Housing Questions 19a and 20a in the 2008 American Community Survey. The questions were asked at owner-occupied units. "Mortgage" refers to all forms of debt where the property is pledged as security for repayment of the debt, including deeds of trust; trust deeds; contracts to purchase; land contracts; junior mortgages; and home equity loans.

A mortgage is considered a first mortgage if it has prior claim over any other mortgage or if it is the only mortgage on the property. All other mortgages (second, third, etc.) are considered junior mortgages. A home equity loan is generally a junior mortgage. If no first mortgage is reported, but a junior mortgage or home equity loan is reported, then the loan is considered a first mortgage.

In most data products, the tabulations for "Selected Monthly Owner Costs" and "Selected Monthly Owner Costs as a Percentage of Household Income" usually are shown separately for units "with a mortgage" and for units "not mortgaged." The category "not mortgaged" is comprised of housing units owned free and clear of debt.
Question/Concept History
Since 1996, the American Community Survey questions have been the same.
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
 
Ratio
This is a measure of the relative size of one number to a second number expressed as the quotient of the first number divided by the second. For example, the sex ratio is calculated by dividing the total number of males by the total number of females, and then multiplying by 100.



Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
 
Value
The data on value (also referred to as "price asked" for vacant units) were obtained from Housing Question 16 in the 2008 American Community Survey. The question was asked at housing units that were owned, being bought, vacant for sale, or sold not occupied at the time of the survey. Value is the respondent's estimate of how much the property (house and lot, mobile home and lot, or condominium unit) would sell for if it were for sale. If the house or mobile home was owned or being bought, but the land on which it sits was not, the respondent was asked to estimate the combined value of the house or mobile home and the land. For vacant units, value was the price asked for the property. Value was tabulated separately for all owner-occupied and vacant-for-sale housing units, as well as owner-occupied and vacant-for-sale mobile homes.
Adjusting Value for Inflation
Since value collected before 2008 is the only dollar amount captured on the questionnaire in specified intervals, the category boundaries for previous years are not adjusted for inflation. In the comparison profiles, however, the median value is adjusted for inflation by multiplying a factor equal to the average annual CPI-U-RS factor for the current year, divided by the average annual CPI-U-RS factor for the earlier/earliest year.
Median and Quartile Value
The median divides the value distribution into two equal parts: one-half of the cases falling below the median value of the property (house and lot, mobile home and lot, or condominium unit) and one-half above the median. Quartiles divide the value distribution into four equal parts. Median and quartile value are computed on the basis of a standard distribution. (See the "Standard Distributions" section under "Derived Measures.") Median and quartile value calculations are rounded to the nearest hundred dollars. Upper and lower quartiles can be used to note large value differences among various geographic areas. (For more information on medians and quartiles, see "Derived Measures.")
Aggregate Value
Aggregate value is calculated by adding all of the value estimates for owner occupied housing units in an area. Aggregate value is rounded to the nearest hundred dollars. (For more information on aggregates, see "Derived Measures.")
Limitation of the Data
The Census Bureau tested the changes introduced to the 2008 version of the value question in the 2006 ACS Content Test. The results of this testing show that the changes may introduce an inconsistency in the data produced for this question as observed from the years 2007 to 2008, see "2006 ACS Content Test Evaluation Report Covering Property Value" (http://www.census.gov/acs/www/AdvMeth/content_test/H7_Property_Value.pdf).
Question/Concept History
The 1996-1998 American Community Survey question provided a space for the respondent to enter a dollar amount. From 1999-2007 the question provided 19 pre-coded response categories from "Less than $10,000" to "$250,000 or more - Specify ." Starting in 2004, value was shown for all owner-occupied housing units, unlike from1996-2003 in which value was shown only for specified owner-occupied housing units. Changes introduced in 2008 were removing the pre-coded response categories and adding a write-in box for the respondent to enter the property value amount in dollars, and revising the wording of the question to ask, "About how much do you think this house and lot, apartment, or mobile home (and lot, if owned) would sell for if it were for sale?"
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
 
Income of Households
This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one person, average household income is usually less than average family income. Although the household income statistics cover the past 12 months, the characteristics of individuals and the composition of households refer to the time of interview. Thus, the income of the household does not include amounts received by individuals who were members of the household during all or part of the past 12 months if these individuals no longer resided in the household at the time of interview. Similarly, income amounts reported by individuals who did not reside in the household during the past 12 months but who were members of the household at the time of interview are included. However, the composition of most households was the same during the past 12 months as at the time of interview.
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
 
Adjusting Income for Inflation
Income components were reported for the 12 months preceding the interview month. Monthly Consumer Price Indices (CPI) factors were used to inflation-adjust these components to a reference calendar year (January through December). For example, a household interviewed in March 2008 reports their income for March 2007 through February 2008. Their income is adjusted to the 2008 reference calendar year by multiplying their reported income by 2008 average annual CPI (January-December 2008) and then dividing by the average CPI for March 2007-February2008.

In order to inflate income amounts from previous years, the dollar values on individual records are inflated to the latest years dollar values by multiplying by a factor equal to the average annual CPI-U-RS factor for the current year, divided by the average annual CPI-U-RS factor for the earlier/earliest year.