The existence of a mortgage, deed of trust, contract to purchase, or similar debt on the property. Land contracts, contracts for deed, and assumption agreements are included. This item was ascertained for owner-occupied one-family houses on less than 10 acres, without a commercial establishment or medical office on the property. Mobile homes or trailers and condominium units were also excluded. This item was asked on a sample basis.
Selected monthly owner costs are usually reported separately for units with a mortgage and for units not mortgaged (i.e., owned free and clear) since housing costs are quite different for the two groups.
This item is new for 1980.
See also: "Owner Costs, Selected Monthly".