Home Plumbing Contractor Free Plumbing and Heating Contractor Business Plan 4.27 Market Value of Owned Home by Consumer Unit Size Nationally Analysis
4.27 Market Value of Owned Home by Consumer Unit Size Nationally Analysis
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:
- The average market value of owned home by a 1 person consumer unit.
- The average market value of owned home by a 2 person consumer unit.
- The average market value of owned home by a 3 person consumer unit.
- The average market value of owned home by a 4 person consumer unit.
- The average market value of owned home by a 5+ person consumer unit.
When we examine the data for the year 2005, we find that the market value of home owned by 2 person unit was $186,502 - 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 $197,397 - during that same year the market value of home with 2 people in it on average was valued at $189,615.
In terms of price appreciation, we find that the greatest increase in the market value of homes has been in those homes that have 1 person living in it. These homes saw a 5.7% increase over the decade as compared to decline of 11% in homes housing more than 5 people.
From the perspective of a plumbing contractor like Central Plumbing and Heating, there is a direct relationship between the amount of folks living in a house and the amount of repair and upkeep needed. This makes sense of course, if you have 5 people using the bathroom everyday as opposed to only 1, the chances of wear and tear and repair will certainly be much higher for the bathroom that is being more widely used.
Quick Links:
- Go to the Corresponding Template section for this industry.
- Go to the Corresponding Questionnaire section for this industry.
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