Perkasie Facts: Home Ownership

Did you know that Perkasie Borough residents own a higher percentage of their homes compared with neighboring towns? This tradition goes back more than a century when the home ownership rate was about 70% in the 1920 federal census.

One reason for the high rate of home ownership in Perkasie is the value the Borough provides to residents. Perkasie has a reputation for outstanding public services and it is seen as a great value for families who had a safe place to live, that is unique and special.

Here is the source data from the Census Bureau for housing rates.

Owner-occupied housing unit rate

Sources: U.S. Census Bureau, American Community Survey (ACS) and Puerto Rico Community Survey (PRCS), 5-Year Estimates. The PRCS is part of the Census Bureau's ACS, customized for Puerto Rico. Both Surveys are updated every year.

Definition

Owner-Occupied - A housing unit is owner-occupied if the owner or co-owner lives in the unit, even if it is mortgaged or not fully paid for. The owner or co-owner must live in the unit and usually is Person 1 on the questionnaire. The unit is "Owned by you or someone in this household with a mortgage or loan" if it is being purchased with a mortgage or some other debt arrangement such as a deed of trust, trust deed, contract to purchase, land contract, or purchase agreement. The unit also is considered owned with a mortgage if it is built on leased land and there is a mortgage on the unit. Mobile homes occupied by owners with installment loan balances also are included in this category. A housing unit is “Owned by you or someone in this household free and clear (without a mortgage or loan)” if there is no mortgage or other similar debt on the house, apartment, or mobile home, including units built on leased land if the unit is owned outright without a mortgage.