NC
Strategic Scorecard |
2.2.1 Home
Ownership |
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Target: At
least 75% of homes owned by occupants
Actual: 69%
US
Rank 2004: 36th (down
from 16th in 1995)
SE
Rank 2004: 10th (down
from 6th in 1995)
SE
Region: AL
FL GA KY MS NC SC TN VA WV Updated
3/12/06
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| Primary
Performance Indicator |
Percent of Homes Owner-occupied
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Performance
Trend:
The
trend depicts the degree to which actual
performance has approached the target in
recent years. |
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Comments
• |
NC’s
home ownership rate has remained relatively stable
over the last ten years, but the national average has
steadily increased. |
• |
In
2004, NC remains slightly above the national average,
but its state rank has slipped to 36th in the US
and 10th in the SE region. |
• |
Home
ownership does not necessarily reflect relative wealth
or economic prosperity, but it can measure one aspect
of asset accumulation. |
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Definition
(What Is Being Measured)
Percent
of total occupied housing units that are owner-occupied.
Source: US
Census Bureau, Choosing Vacancies and Homeownership,
Annual Statistics;
xxx; rankings from Morgan Quitno |
Relevance
(Why This Is Important)
Home
ownership is one measure of asset accumulation which, in turn,
can enhance participation in economic growth and fosters long-term
financial prosperity and neighborhood stability, but it does not
necessarily or fully reflect relative wealth. |
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| Other
Highlights |
| North
Carolina |
• |
Homeownership
rates vary widely among specific population groups, in
NC and throughout the nation.
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• |
In
2004, the national homeownership rate varied widely depending
on race—76.2% for white households, 49.1% for black
households and 48.9% for Hispanic households.
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• |
In
2002, NC’s homeownership rate for persons aged 65
or more was 83.4%, the 9th highest in the US. (Source:
AARP Policy Institute). |
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| Southeast
Region |
| National |
• |
In 2004, the national
home ownership rate for households with family incomes
greater than or equal to the median family income (84.6%)
was higher than in the prior year. For those with incomes
less than the median (52.5%), the rate was unchanged. |
| • |
In
2004, the national homeownership rate varied widely depending
on race--the home ownership rate was 76.2% for white households,
but only 49.1% for black households and 48.9% for Hispanic
households. |
| Global |
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Goal
2.2: Promote
adequate & affordable housing |
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