FMF was talking about the Million Dollar Home Foreclosures recently. That got me wondering what percentage of homes in the US are actually worth more than $1 million. I couldn't find that number exactly but I did find 2009 data from the American Housing Survey (AHS) that told me how many homes are worth $750,000 or more as of 2009. The answer to that was about 2.8 million. There were about 76.4 million total owner occupied homes in the report from AHS so the % of homes worth >$750k is roughly 3.7% of the total.
Of course that data is now 3 years old, but its the freshest Census data currently available. The 2011 AHS was delayed due to budget issues. Still any data we get is going to be a moving target. I think 2009 is good enough for my curiosity. I can assume that home values have likely dropped across the board, but the % of homes in the various buckets is likely similar.
Here's all the data in table format :
Value | # x 1000 | % of total |
Less than $10,000 | 1,696 | 2.2% |
$10,000 to $19,999 | 1,311 | 1.7% |
$20,000 to $29,999 | 1,073 | 1.4% |
$30,000 to $39,999 | 1,187 | 1.6% |
$40,000 to $59,999 | 3,155 | 4.1% |
$60,000 to $79,999 | 5,261 | 6.9% |
$80,000 to $99,999 | 6,002 | 7.9% |
$100,000 to $119,999 | 4,980 | 6.5% |
$120,000 to $149,999 | 7,629 | 10.0% |
$150,000 to $199,999 | 11,141 | 14.6% |
$200,000 to $299,999 | 13,494 | 17.7% |
$300,000 to $399,999 | 7,924 | 10.4% |
$400,000 to $499,999 | 4,200 | 5.5% |
$500,000 to $749,999 | 4,577 | 6.0% |
$750,000 or more | 2,798 | 3.7% |
TOTAL | 76,428 | 100% |
The AHS report says the median value was $170,000 as of 2009.
Graphically the distribution of home values looks like this :
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(click image for larger version) |
I also then grouped the home values into 4 major price buckets and heres how that looks :
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(click image for larger version) |
My home is currently smack dab in the middle in the $150,000 to $199,999 bucket.
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