Consumer Unit Characteristics: Percent Homeowner with Mortgage by Region: Residence in the Midwest Census Region
CXU980230LB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.00
Year-over-Year Change
-4.65%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the percentage of consumer units in the Midwest Census Region that own their homes with a mortgage. It provides insights into regional housing and ownership patterns, which are key indicators of economic well-being and consumer behavior.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Percent Homeowner with Mortgage by Region metric tracks the share of consumer units in a given geographic area that own their homes and have an active mortgage. This data helps economists and policymakers understand regional differences in housing markets and consumer finances.
Methodology
The data is collected through the U.S. Consumer Expenditure Survey, a nationally representative household survey conducted by the Bureau of Labor Statistics.
Historical Context
This metric is used to inform housing, lending, and regional economic policy decisions.
Key Facts
- The Midwest Census Region includes 12 states in the central United States.
- Homeownership rates can vary significantly between metropolitan and rural areas.
- Mortgage ownership is a key factor in household wealth and consumer spending patterns.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of consumer units in the Midwest Census Region that own their homes with an active mortgage.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into regional housing and consumer finance patterns, which are important for understanding economic well-being and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Consumer Expenditure Survey, a nationally representative household survey conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is used to inform housing, lending, and regional economic policy decisions by economists and policymakers.
Q: Are there update delays or limitations?
A: The Consumer Expenditure Survey data is published with a lag, and regional breakdowns may have limited sample sizes in some areas.
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Citation
U.S. Federal Reserve, Consumer Unit Characteristics: Percent Homeowner with Mortgage by Region: Residence in the Midwest Census Region (CXU980230LB1103M), retrieved from FRED.