Data Cart

Your data extract

0 variables
0 samples
View Cart

Description

OWNCOST reports selected monthly owner costs for owner-occupied units.

OWNCOST is the derived sum of payments for mortgages, deeds of trust, contracts to purchase, or similar debts on the property (including payments for the first mortgage, second mortgages, home equity loans, and other junior mortgages); real estate taxes; fire, hazard, and flood insurance on the property; utilities (electricity, gas, and water and sewer); and fuels (oil, coal, kerosene, wood, etc.). It also includes, where appropriate, the monthly condominium fee for condominiums and mobile home costs (installment loan payments, personal property taxes, site rent, registration fees, and license fees).

The components of this variable are available separately via CONDOFEE, COSTELEC, COSTFUEL, MORTAMT1, MORTAMT2, MORTOTAL, COSTWATR, COSTGAS, PROPTXIN, PROPINSR, RENT, and MOBLHOME.

OWNCOST is not always exactly equal to the sum of these variables. Many of the component variables for OWNCOST were intervalled or topcoded. In some cases, OWNCOST appears to have been constructed from these variables prior to their being intervalled or topcoded. Also, most of the component variables report annual costs, whereas OWNCOST reports monthly costs.

Amounts are expressed in contemporary dollars, and users studying change over time must adjust for inflation (See INCTOT for Consumer Price Index adjustment factors). The exception is the ACS/PRCS multi-year files, where all dollar amounts have been standardized to dollars as valued in the final year of data included in the file (e.g., 2007 dollars for the 2005-2007 3-year file). Additionally, more detail may be available than exists in the original ACS samples.