In order to analyze the market value of owned homes by Income Quintile we have broken the national population into the following categories:
Here again some fairly expected observations could be seen during our analysis - clearly the income that an individual or household makes largely determines the market value of the home that they will be able to afford. Thus income quintile and housing values have a very high correlation indeed. This fact is clearly borne out by the data which shows that in both 2000 and 2010 the folks with in the higher income quintiles on average lived in homes with higher market values as compared to folks in lower income quintiles. What was surprising was to see the rate of change in the market values of homes in the lower and higher income quintiles - thus in the lowest income quintile we find that over the 10 year period there was a 33% increase in the average market value of a home for folks in the lowest quintile compared to an almost 80% increase in the market value of homes belonging to folks in the third, fourth and highest income quintiles.
Another significant finding was that the difference between the market values of homes between folks in the highest quintile of income and the lowest quintile of income has actually risen sharply during the same 10 year period - in the year 2000, the market value of a home belonging to someone in the highest quintile of income was $181k and the value of a home for someone in the lowest quintile of income was $43k - a difference of 320%. However in 2010 this difference increased to 475% clearly demonstrating the fact that there is an increasing disparity of wealth in our economy.
For Real Estate Funding Solutions, it would of course be more beneficial to have a lot of folks living in higher quintiles of income in the target market, since that would imply higher market values resulting in a larger mortgages which tend to be more profitable.
The Foundation Grant Directory is a free listing of sources for grants by state. Why not look if there is some free money out there for your business. Hey - you never know!
The Business Loan Application covers every item you will need in your loan package and tells you how to get approved for business loans.
Fire your loan broker and use our Free Business Loans Bank / Lender Directory to find every bank in the country lending to small businesses.