1996–2001 Ohio and US Construction Costs
The cost of housing continues to rise, partly because of the market
price of a home and partly because of the increase in home construction
costs. To the right are average percentage changes for construction
costs in Ohio and the US. As an example, a residential home built
in 1996 for $100,000 in Ohio would cost approximately $110,800 to
build in 2001 ($100,000 x 1.108, which is the factor for 10.8%).
Most insurance companies readily include an endorsement on homeowners
insurance policies known as “Inflation Guard Protection,”
which automatically adjusts each year the amount of insurance coverage
provided on a home in accordance with similar construction cost
factors.
Note: For US Construction Costs: Study is predicated
on the following 20 major pricing areas: Atlanta, Baltimore, Birmingham,
Boston, Chicago, Cincinnati, Cleveland, Dallas, Denver, Detroit,
Kansas City, Los Angeles, Minneapolis, New Orleans, New York City,
Philadelphia, Pittsburgh, St. Louis, San Francisco, and Seattle.
Source: Written permission was granted by the owner
of the copyright, Marshall & Swift/Boeckh, Los Angeles, CA,
prior to its reproduction in its entirety in this guide
©2001 Marshall & Swift/Boeckh
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According to the National Association
of Realtors, the number of single female home buyers increased
from 10% in 1987 to 18% in 1999. Single women accounted for
22% of the purchases made by rookie buyers, while single men
were responsible for only 12%.
(Columbus Daily Reporter, 6/21/01) |
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