Median Value of Home

Rationale

The value of a home indicates the worth of that asset and its resale value for the homeowner. Together with the homeownership rate, this measure is an indirect attempt to estimate home equity, though it should be made clear that homes with higher value do not necessarily correlate with higher home equity. All things equal, though, the higher the value of a home, the more one can borrow against it to invest in additional assets, such as college education or a small business.

About Measure

Median value of households that own their primary residence, three-year average (1997-1999), adjusted for cost of living.

Source

Calculations by Robert and Jon Haveman based on U.S. Department of Commerce, Bureau of the Census. March current population surveys [Electronic data tape]. (1998, 1999, and 2000). Washington, D.C.: Author. Cost of living data from the Missouri Economic Research and Information Center [On-line]. (May 2002) based on data from the American Chamber of Commerce Researchers Association.