Friday, September 23, 2016

Details on 11,000+ First Time Home Buyer Loans from GSE's in Oregon in 2015.

Using recently posted GSE census tract level data for 2015, I constructed an Excel workbook HERE and embedded below that provides details on more than 11,000 first time homebuyer loans in Oregon purchased by Fannie Mae and Freddie Mac in 2015. 

The workbook opens to a chart showing how many loans per 1,000 first time homebuyers went to Black and Hispanic first time homebuyers. Other worksheets break out Black and Hispanic FTHB data and the workbook also includes a pivot table worksheet

(You can see more background on my prior year posting of GSE data for Oregon in Sept 2015 post HERE


Originally created and posted on the Oregon Housing Blog


Tuesday, September 13, 2016

W State Details--In 2014 Federal Income Tax Filers w Incomes $1M+ Got $1.38 Billion in Mortgage Interest Subsidies, $500 Per Month, $6,000 Per Year

Using 2014 IRS SOI data I constructed a PDF file HERE and embedded below which provides my state and US level estimates of the housing subsidies that filers with AGI of $1 million or more received as a result of mortgage interest deductions. 

Observations: 
Nationally

  1. 229,000 filers with AGI of $1 million or more reported mortgage interest payments of more than $5 billion. 
  2. Filers in this income category had an average tax rate of 27%.
  3. Applying that tax rate to the amount of reported mortgage interest results in my calculation that these filers got a combined $1.38 BILLION in housing subsidies from the deduction of mortgage interest. 
  4. That combined $1.38 billion in mortgage interest deductions works out to $503 per month, $6,031 in housing subsidies. 
  5. This calculation does NOT include the value of property tax income reductions (stay tuned). 


In Oregon


  1. 1,770 filers with AGI of $1 million or more reported mortgage interest payments of $34.2 million. 
  2. Filers in this income category had an average tax rate of 26%.
  3. Applying that tax rate to the amount of reported mortgage interest results in my calculation that these filers got a combined $8.8 million in housing subsidies from the deduction of mortgage interest. 
  4. That combined $8.8 million in mortgage interest deductions works out to $417 per month, $4,998 annually in housing subsidies. 


Originally created and posted on the Oregon Housing Blog

Wednesday, September 7, 2016

New 2014 Oregon IRS SOI Zip Code Level Data: 130 Data Fields, 275k+ Pieces of Data.

Last week I downloaded new 2014 IRS Statistics of Income data for Oregon zip codes, made some enhancements and have posted the enhanced version into an Excel workbook HERE and embedded below--the Pivot table displayed in the embed may require that you scroll right to see all columns. 


  1. I added field names to the codes that IRS supplies. 
  2. I added a lookup that names and substitutes income ranges for IRS codes. (Each zip code has data for 6 income ranges).
  3. I added three data fields showing total mortgage interest and real estate deductions, the share those deductions were of total itemized deductions ($), and the share of all returns claiming the earned income tax credit.
  4. I extracted state total data into a worksheet.
  5. I added a pivot table. (The default view is a high to low sorted order of total mortgage interest and real estate $$ deductions). NOTE: $ in table and data are in $1,000's so "$100,000" in table/data is $100 million)
  6. I added a worksheet and some graphs that summarize unemployment income, child tax credits, and earned income credits by income grouping. This provides a sample of the kinds of information found in the data. (A MS Word data dictionary HERE from IRS provides a complete listing of the data fields in the 2014 zip code level file).



Originally created and posted on the Oregon Housing Blog.




New 2014 Oregon IRS SOI Zip Code Level Data: 130 Data Fields, 275k+ Pieces of Data.

Last week I downloaded new 2014 IRS Statistics of Income data for Oregon zip codes, made some enhancements and have posted the enhanced version into an Excel workbook HERE and embedded below--the Pivot table displayed in the embed may require that you scroll right to see all columns. 


  1. I added field names to the codes that IRS supplies. 
  2. I added a lookup that names and substitutes income ranges for IRS codes. (Each zip code has data for 6 income ranges).
  3. I added three data fields showing total mortgage interest and real estate deductions, the share those deductions were of total itemized deductions ($), and the share of all returns claiming the earned income tax credit.
  4. I extracted state total data into a worksheet.
  5. I added a pivot table. (The default view is a high to low sorted order of total mortgage interest and real estate $$ deductions). NOTE: $ in table and data are in $1,000's so "$100,000" in table/data is $100 million)
  6. I added a worksheet and some graphs that summarize unemployment income, child tax credits, and earned income credits by income grouping. Provide good idea about the information found in the data. 



Originally created and posted on the Oregon Housing Blog.




Tuesday, September 6, 2016

Two New Maps w 2014 Fed Income Tax Data: A. 10 Oregon Zip Codes Had 21% of Statewide Total in Mortgage Interest and Real Estate Tax Payments; B. Map for ALL Oregon Zip Codes w RE Taxes and Mtg Interest $ .

New 2014 IRS Statistics of Income data were released last week at the state, county, and zip code levels.

I put together two different types of Google maps to help visualize the location of $6.5 BILLION in mortgage interest and real estate tax FEDERAL income tax deductions. 

The first HERE is a point map showing the 10 zip codes with the highest reported mortgage interest and real estate tax payments. ( 8 out of the top 10 zip codes were in the Portland metro area).

There were a total of 353 Oregon zip codes with reported mortgage interest and real estate tax values in the IRS data.

Combined these 10 zip codes represented
  • 12% of all filers, but 21% of all reported mortgage interest and real estate tax payments
  • $1.2 billion out of a statewide total of $6.5 billion in reported mortgage interest and real estate tax payments
The second color coded map HERE first opens to a table. Select the tab at the top "map of geometry" to see a map of Oregon zip codes where RE taxes and mortgage interest was reported by IRS. Then within the map click on any zip to see the total number of returns, RE taxes, mortgage interest, and the total mortgage interest plus RE taxes. (I'm not in love with the color coding in the map, but like the unprecedented level of detail). 

Tip:  In the map view of the second map you can also use filters to zero in on specific criteria, so if you want to see only zips with less than $10 M in real estate and mortgage interest deductions enter those values and only those zips will show up on the map. By default I applied a filter that excludes zips with no RE taxes or mortgage interest deductions in the zip code data that I downloaded from IRS. (IRS 2014 zip code SOI data can be found HERE).

Originally created and posted on the Oregon Housing Blog