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Kellie Batten
All-star
Joined: Tue Jan 13, 2004 6:43 pm Posts: 45 Location: Balls Creek
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I was reading the Hickory Daily Record and it had some stats on Catawba county that we had been discussing.
The poverty rate is 9.1 percent.
The median home value is $103,000.
The median income is $54,667. (WOW)
26% of renters pay over 30% of their income.
Only 18% of homeowners pay over 30% of income on their morgage.
Median rent is $525.
For every 72.5 renters, there are 27.5 homeowners.
16% own manufactued housing.
After reading Nickel and Dimed, I found these stats interesting. They were in the Home section of the HDR on Sunday.
_________________ Kellie Batten
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Sun Mar 07, 2004 9:25 pm |
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Shelly Cain
All-star
Joined: Tue Jan 13, 2004 6:34 pm Posts: 71 Location: Bethlehem Elementary
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The one that I find hard to believe is the medium home value. $103,000 seems low. I know there are many parts of the county that have home values that are lower, but many parts of Hickory have homes for $200,000 and up.
Thanks for sharing!
_________________ Be Happy!
Shelly Cain
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Mon Mar 08, 2004 6:17 pm |
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Renee Barkley
All-star
Joined: Tue Jan 13, 2004 6:34 pm Posts: 52 Location: Mountain View ELementary
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I was surprised by the median home value is $103, 000. I thought it would be more. I was also surprised that only 18% pay over 30% of their income on their mortgage. I figured it would be higher as well.
Thanks for the info.
Renee Barkley
_________________ Renee Barkley
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Mon Mar 08, 2004 8:59 pm |
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Dawn Cheek
All-star
Joined: Tue Jan 13, 2004 6:35 pm Posts: 90 Location: Happy Valley School
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It is still amazing to me that only 27% of the people are funding money for schools while 72% are renting and paying no property taxes yet we are supposed to educate all. We need to come up with a formula that all parents are contributing to their child's education. If you broke that down into age groups paying property taxes, I wonder if we would be amazed at the age group that is paying the most money per pupil for our classrooms.
It still gripes me that not everyone is contributing to money paid toward education only the property owners. Does that seem fair????
_________________ Dawn Cheek
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Tue Mar 09, 2004 1:55 pm |
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Lisa Mateyunas
All-star
Joined: Tue Jan 13, 2004 6:33 pm Posts: 51 Location: Sherrills Ford Elementary
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This could be why we pay more. I didn't think the average income was that high. That means I know many of my students are well below that.
_________________ Lisa Mateyunas
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Tue Mar 09, 2004 8:22 pm |
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Dawn Yount
All-star
Joined: Tue Jan 13, 2004 6:35 pm Posts: 40 Location: Bethlehem Elem.-Alexander Co.
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I am amazed that the median income is $54, 667. This is a lot higher than what I would have thought. The median rent of $525 seems higher than what I expected. At looking at the median income, I feel pretty sad when I look at my paycheck each month.
_________________ Dawn Yount
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Thu Mar 11, 2004 9:43 am |
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Tami Carter
All-star
Joined: Tue Jan 13, 2004 6:34 pm Posts: 42 Location: Whitnel
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The median rent figure is unreal. No wonder 26% of renters pay over 30% of their income on rent. The figure about only 18% of homeowners paying over 30% of their income on their mortgage is probably misleading. How much money do we spend each month on home repairs and property taxes in addition to our house payments????
_________________ Tami Carter
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Thu Mar 11, 2004 7:00 pm |
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Shannon Ramsey
All-star
Joined: Tue Jan 13, 2004 6:36 pm Posts: 66 Location: Pumpkin Center Elementary
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Wow, these figures are alarming. This has got me interested in finding out about Lincoln Co. It has to be worse off than Catawba Co.
Shannon
_________________ Shannon Ramsey
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Mon Mar 15, 2004 6:52 pm |
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gayle
Site Admin
Joined: Mon Dec 30, 2002 4:05 am Posts: 404 Location: Appalachian State University
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Dawn and others:
Try thinking about it this way. A renter pays about 30% of their income in rent. The landlord collects the rents, and pays his or her mortgage on the rental unit, PROPERTY TAXES, repairs, insurance, etc out of the total rents collected. If the landlord was not making money as a landlord, they would sell the property. The renter pays the landlord's property taxes when they pay their rent each month. This is pretty basic economics under a capitalist economy. If the renter was required to pay additional property taxes over and above the portion that the landlord has included in the monthly rental charge, then the renter would be paying property taxes twice.
The renter's rent check does not say "I am paying this part of my check for repairs on the building, this part for your property taxes, this part for the use of the space." However, that is, in fact, what the check does.
_________________ Gayle Turner
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Tue Mar 16, 2004 12:54 pm |
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Dawn Cheek
All-star
Joined: Tue Jan 13, 2004 6:35 pm Posts: 90 Location: Happy Valley School
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I hadn't really thought of the renter paying any taxes but you are correct in that they do pay through their landlord.
_________________ Dawn Cheek
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Tue Mar 16, 2004 2:55 pm |
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Shelly Cain
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Joined: Tue Jan 13, 2004 6:34 pm Posts: 71 Location: Bethlehem Elementary
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Not only do renters like myself pay taxes through our rent, but we also pay taxes on our vehicles, which adds up as well. Not only that, but I pay to Catawba County, and have no children there and do not work there. It is a crazy system.
_________________ Be Happy!
Shelly Cain
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Tue Mar 16, 2004 3:23 pm |
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Teresa Costner
All-star
Joined: Tue Jan 13, 2004 6:32 pm Posts: 61 Location: Startown Elementary School
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I'm one of those landlords who collect rent and pay taxes through the nose. There are those few of us landlords who are benevolent. I haven't raised my rent on either of my houses in over 7 years, although the houses are depreciating, there is constant need of repair (some tenants don't treat a rental property as their own) property taxes must be paid and rent is sometimes an option (with some tenants). I know the business person in me says to go up on the rent to meet inflation and force my tenant to perform jobs such as mowing their own yards. But I'm not that sort of person and neither is my husband. We will simply wait until the present tenants move out - clean it up and do extensive repair work - raise the rent (if the economy allows) and then re-rent the home. Right now, one of our tenants is out of work and it breaks my heart to collect his rent, although my budget includes this as income. As always, there are two sides to every idea or topic of conversation.
_________________ Teresa Costner
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Tue Mar 16, 2004 10:52 pm |
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Fay Smith
All-star
Joined: Tue Jan 13, 2004 6:55 pm Posts: 64
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Teresa C.
I agree it is very difficult to get the true value for renting a house. I have a house in Virginia which I rented for several years. I would have to ask $450 a month to cover taxes, and insurances. So, for the past two years, I have been upgrading the house and absorbing the cost. This region of VA is economically depressed and I just don't want anyone in the house again. Previously, I always rented to low income families who received HUD. Therefore, rent was never enough to cover the expenses. Sometimes, we have to make difficult decisions and hope God makes a way.
_________________ Fay Smith
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Tue Mar 16, 2004 11:37 pm |
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