Expenditures: Maintenance, Repairs, Insurance, Other Expenses for Owned Dwelling by Region: Residence in the Northeast Census Region
CXUOWNEXPENLB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,031.00
Year-over-Year Change
126.53%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures expenditures on maintenance, repairs, insurance, and other expenses for owner-occupied dwellings in the Northeast Census Region of the United States. It provides insights into household spending and regional differences in home ownership costs.
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 Expenditures: Maintenance, Repairs, Insurance, Other Expenses for Owned Dwelling by Region: Residence in the Northeast Census Region metric tracks the average monthly outlays by Northeast homeowners for maintaining and operating their properties. This data is useful for understanding regional variations in the costs of home ownership.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is relevant for policymakers, real estate analysts, and consumers interested in regional housing costs and household budgets.
Key Facts
- The average Northeast homeowner spends over $300 per month on dwelling maintenance and related costs.
- Expenditures in this category account for about 10% of total monthly housing costs in the Northeast.
- Home maintenance and operations costs have risen faster than overall inflation in the Northeast in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly expenditures by homeowners in the Northeastern United States on maintenance, repairs, insurance, and other costs associated with operating their owned dwellings.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into regional variations in the costs of home ownership, which is useful for policymakers, real estate analysts, and consumers interested in understanding household budgets and housing expenses.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers examining regional differences in the cost of living and the financial burdens faced by homeowners, which can inform decisions around housing and tax policies.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be a 1-2 month delay in the most recent figures being available.
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Personal Taxes: Federal Income Taxes by Region: Residence in the Northeast Census Region
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Net Change in Total Assets by Region: Residence in the Northeast Census Region
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New Privately Owned Housing Starts by Number of Units in Building, 20 or more Units in the Northeast Census Region
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Citation
U.S. Federal Reserve, Expenditures: Maintenance, Repairs, Insurance, Other Expenses for Owned Dwelling by Region: Residence in the Northeast Census Region (CXUOWNEXPENLB1102M), retrieved from FRED.