Democratic Sentinel, Volume 18, Number 35, Rensselaer, Jasper County, 14 September 1894 — HOMES OF THE NATION. [ARTICLE]

HOMES OF THE NATION.

Nearly One-Half the Familiei Own the Places Where They Live. The census office has given to the public the principal results oi the investigation of jarni a..d home proprietoiship in all of the states und territories. This is the first investigation of the kind ever conducted in any ct untry. Of tin 12,690,152 families in the whole country, almost so per cent, own their own farms and hoires and the rest hire. Of the families owning farms and homes, almost 28 per cent, have incumbrances and over .2 ier cent, have no incumbrance. The num Per of resident owners of land in the United States is 6,066,417, to which must be added any land owners who may be living in tenant families. The farm families number 4,670,179, of whom 66 per cent, own their farms and others hite Of the owning families over 28 per cent, have incumbiance on their ’arms. In 1880 25.56 per cent, of the farms were hired. In the cities that contain over 100.000 populati m there are 1,948,"34 home families, of whom almost 23 per cent, own and 17 ier cent, hire, while of the own : n’familiee3Bpcr cent. own subject to incumbrance. Among the cities having 100,00) population and over New York has the highest percenta e of home tenancy, nearly 93.67. The smallest percentage—s > — represents Rochester, N. Y. Bringing the urban population into contrast with the nonurban population, almost 44 per cent., or 4,224,560 home families living outside of cities and towns of 8,000 people, own their homes and 56 per cent. hire. Of the owning families, i 7 per cent, own without incumbiance. The value of the 1,696,890 incumbered farms and homes is $6,587,296,0k', and the incumbrances aggregate $2 132,949.5 3, or 37.50 per cent, of the value. Of the incumb ance on farms and home s, over 22 per cent, bears interest at rates less than 6 per cent.: 34 per cent, at the rate of 6 per cent.; 33 per cent, at rates greater than 6 per cent.: and 11 pier cent, at rates greater than 8 per cent. The average of value of each owned < nd incumbered farm in the United States is $3,444; of each inc mbered home, $3,250, and the average incumbrance on each of the farms is $1,224: on each incumbered home, $1,293. The 8c6,957 farms subject to incumbrance are worth $3,054,923,165, and the incumbrance is $1,085,995,960, or 35.55 per cent, of the value. The 80.’,933 homes sub ect to incumbrance aie valued at $22,632,3. ’ J ,904, and the incumbrance is $1,011,953,603, or 3 4.77 per cent, of the value. The cities of 6.000 to 109,00) population have 214,613 incumbered homes occupied by owners, worth $739,84. ,08i, with incumbrances amounting to $29’,611,974, which is 39.55 per cent, of the value. In the cities of 100,000 popula ion and over the value of the 168,159 incumbered homes occupied by owners is $93 J ,191,811. and these homes are incumbered for $J9.'’,029,833, or 42.07 per cent, of their valt e. In the country outside of cities and towns of 9,000 people and o.er, the value of the 427,161 incumbered homes occupied by owners is $958,337,006 and the incumbrance is $361.311,796, or 37.1 Q per cent, of the value. In the cities having at least 100,900 population, $5,555 represents the average value es each owned and incumbered home.

Over 74 per cent, of the Incumbranoe on owned farms was incurred in buying real estate and making improvement-, and over 83 per cent, of the ineumbrance was for the purpose of buying and improving real estata. investing in business, etc.- Over 81 per cent, of the incumbrance on homes was incurred to secure purchase money and to make improvements.