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Data Dictionary: ACS 2008 (1-Year Estimates)
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Data Source: U.S. Census Bureau
Table: B25096. Mortgage Status by Value [17]
Universe: Owner-occupied housing units
Table Details
B25096. Mortgage Status by Value
Universe: Owner-occupied housing units
Variable Label
B25096001
Total
B25096002
With a Mortgage
B25096003
Less than $50,000
B25096004
$50,000 to $99,999
B25096005
$100,000 to $149,999
B25096006
$150,000 to $199,999
B25096007
$200,000 to $299,999
B25096008
$300,000 to $499,999
B25096009
$500,000 or More
B25096010
Not Mortgaged
B25096011
Less than $50,000
B25096012
$50,000 to $99,999
B25096013
$100,000 to $149,999
B25096014
$150,000 to $199,999
B25096015
$200,000 to $299,999
B25096016
$300,000 to $499,999
B25096017
$500,000 or More
Relevant Documentation:
Excerpt from: Social Explorer; U.S. Census Bureau; American Community Survey 2008 Summary File: Technical Documentation.
  ACS 2008-1yr Summary File: Technical Documentation -> Appendix B. Subject Definitions -> Housing Variables -> Mortgage Status
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
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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.
  ACS 2008-1yr Summary File: Technical Documentation -> Appendix B. Subject Definitions -> Housing Variables -> Value
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
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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
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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
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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
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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
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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?"