Mortgaged Homes in Texas Increased only for High-Income Households
By: Kevin Pryor May. 03, 2018
A recent study shows that from 2009 to 2016, the proportion of mortgaged homes in Texas increased only in case of households that had an annual income of over $100,000. Conversely, households with an income of between $50,000 and $100,000 and those with an income of under $50,000 experienced a decrease in the proportion of mortgaged homes.
Gavop used figures from the U.S. Census Bureau to produce a study on mortgage trends in an effort to better understand the current real estate market. Further research shows that the proportion of mortgaged homes in Texas closely matches national figures. The following table shows a comparison of mortgage trends by annual income between Texas and the U.S. overall.
Percent of Mortgaged homes by Household Income in 2009 & 2016
| Location | <$50,000 in 2009 | $50,000–
$100,000 in 2009 | >$100,000 in 2009 | <$50,000 in 2016 | $50,000–
$100,000 in 2016 | >$100,000 in 2016 |
|---|---|---|---|---|---|---|
| Texas | 29.47% | 37.62% | 32.91% | 22.72% | 33.32% | 43.97% |
| U.S. | 29.16% | 38.81% | 32.02% | 23.38% | 34.52% | 42.1% |
The numbers show that from 2009 to 2016, the proportion of mortgaged homes only increased among households with incomes greater than $100,000, going up from 32.91 percent in 2009 to 43.97 percent in 2016. The proportion of mortgaged homes with income between $50,000 and $100,000 decreased from 37.62 percent to 33.32 percent, while that with an annual income of under $50,000 decreased from 29.47 percent to 22.72 percent.
Further analysis shows that in Texas, Kaufman County experienced the greatest increase at 96 percent for mortgaged homes with incomes over $100,000 between 2009 and 2016. Ector County had the second to highest increase at 88.38 percent, followed by Guadalupe County at 80.19 percent, Williamson County at 69.17 percent, and Liberty County at 68.96 percent. This data can also be seen in the following graph.
ABOUT THE AUTHOR
Kevin Pryor
Kevin Pryor currently works as a data analyst and public relations associate where he takes pride in analyzing data and sharing the amazing insights it presents to various target audiences. Kevin graduated from the University of Connecticut with a bachelor’s degree in communication and has a passion for the results that can come from effective communications. While at school, he interned with Total Mortgage, Stafford Motor Speedway and UConn Community Outreach. In his free time, Kevin enjoys outdoor activities, cinema, traveling, and spending time with friends and family.
