Data Dictionary: ACS 2010 -- 2012 (3-Year Estimates)
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Data Source: Social Explorer; U.S. Census Bureau
Table: T114. Median House Value For All Owner-Occupied Housing Units [1]
Universe: Owner-occupied housing units
Table Details
T114. Median House Value For All Owner-Occupied Housing Units
Universe: Owner-occupied housing units
Variable Label
T114_001
Relevant Documentation:
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2012 3yr Summary File: Technical Documentation.
 
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 in Appendix A.)

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.")

Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2012 3yr Summary File: Technical Documentation.
 
Owner-Occupied
A housing unit is owner-occupied if the owner or co-owner lives in the unit, even if it is mortgaged or not fully paid for. The owner or co-owner must live in the unit and usually is Person 1 on the questionnaire. The unit is "Owned by you or someone in this household with a mortgage or loan" if it is being purchased with a mortgage or some other debt arrangement such as a deed of trust, trust deed, contract to purchase, land contract, or purchase agreement. The unit also is considered owned with a mortgage if it is built on leased land and there is a mortgage on the unit. Mobile homes occupied by owners with installment loan balances also are included in this category.

A housing unit is "Owned by you or someone in this household free and clear (without a mortgage or loan)" if there is no mortgage or other similar debt on the house, apartment, or mobile home including units built on leased land if the unit is owned outright without a mortgage.