In order to analyze the market value of owned homes by size of consumer unit we have broken the national population into the following categories:
When we examine the data for the year 2005, we find that the market value of home owned by 2 person unit is $154,853 - more than twice the amount for a 1 person unit - that of course makes sense - more folks in a household implies that there may be more people working and therefore a higher household income naturally translates into better affordability and a higher market value of the owned home. Oddly enough in the case of the 3 person consumer unit households the market value of the home actually is lower than that for a two unit home. We also see that a four person consumer unit on average a higher value of owned home than a 1, 2 or 3 person unit, but when it comes to a 5 plus person consumer unit, the market value of the owned home again falls below that of a 4 person unit. This exact same pattern show up in the data for 2014 as well.
In 2015 the market value of a home which had 4 people in it was valued at $197,705 - during that same year the market value of home with 2 people in it on average was valued at $189,141.
In terms of price appreciation, we find that the greatest increase in the market value of homes has been in those homes that have 2 people living in it. These homes saw a 22.1% increase over the decade as compared to a meager 1% increase in the value of homes where 5 or more people live.
Many home with just person living in them - the 1 person consumer unit homes - may actually be folks living in apartments and not full sized homes - that explains why their market value on average comes in at only $90,190 nationally. Clearly Frank and Peter will be not be focusing on these dwellings much.
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