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in 2010 with funding from
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Extra Census Bulletin.
lo. 41. WASHINGTON, D. c. April 18, 1893.
STATISTICS OF FARMS, HOMES, AND MORTGAGES.
OWNERSHIP AND DEBT IN CONNECTICUT.
DEPARTMENT OF THE INTEEIOR,
Census Office,
Washington, D. C, April 3, 1893.
Sik:
The leading results of the investigation of farm and home proprietorship in Connecticut are contained in
this bulletin. In regard to farms, the conclusion is that 17.68 per cent of the farm families hire and 82.32 per cent
own the farms cultivated by them; that 31.10 per cent of the farm owning families own subject to incumbrance and
68.90 per cent own free of incumbrance. Among 100 farm families, 18 hire their farms, 25 own with incumbrance,
and .57 without incumbrance. On the owned farms of this state there are liens amounting to $8,567,786, which
is 40.6-1: per cent of their value, and this debt bears interest at the average rate of 6.57 per cent, making the
average annual interest charge $70 to each family. Each owned and incumbered farm, on the average, is worth
$3,115, and is subject to a debt of $1,266.
The cori-esponding facts for homes are that 66.15 per cent of the home families hire and 33.85 per cent own
their homes ; that of the home owning families 53.93 per cent own free of incumbrance and 46.07 per cent with
incumbrance. In 100 home families, on the average, 66 hire their homes, 16 own with incumbrance, and 18
without incumbrance. The debt on owned homes aggregates $36,835,059, or 43.14 per cent of their value, and bears
interest at the average rate of 5.45 per cent, so that the annual amount of interest to each home averages $92. An
average debt of $1,694 incumbers each home, which has the average value of $3,926.
There are 17 cities and towns in the state in the class of those having a population of 8,000 to 100,000, and in
these cities 71.30 per cent of the home families hire and 28.70 per cent own their homes, and of the home owning
families 51.41 per cent own with incumbrance and 48.59 per cent own free of incumbrance. In 100 home families,
on the average, are found 71 that hire their homes, 15 that own with incumbrance, and 14 that own without
incumbrance. The liens on the owned homes are 43.58 per cent of the value of those subject to lien. Several
averages show that the rate of interest is 5.38 per cent ; value of each owned and incumbered home, $4,903 ; lien
on the same, $2,137, and yearly interest charge on each home, $115.
Real estate purchase and improvements, when not associated with other objects, caused 80.02 per cent of the
farm families to incur 80.00 per cent of the farm debt and 83.55 per cent of the home families to incur 81.96 per
cent of the home debt.
Very respectfully,
ROBERT P. PORTER,
SujKrintendent of Census.
I The Secketary of the Interior.
C. O. P.-3,500
I
STATISTICS OF FARiMS, HOMES, Xm) MORTGAGES.
OWNERSHIP AND DEBT IN CONNECTICUT.
liY (JEOKGE K. HOLMES AKD JOHN S. I.OliD.
Selections from the results of the investigation of farm and home proprietorship and indebtedness in Connecticut
are presented in this bulletin. Every family in the state is regarded as occupying a farm or a home not a fai-m,
and as hiring such farm or home, or owning it free of incumbrance, or owning it subject to incumbrance. In the
class last named account has been taken of the incumbrance, its rate of interest and object, and the value of the
farm or home.
Habitation pkoprietoeship. — Among the 165,890 families of the state there are 96,915, or 58.42 per cent of
the total, which hire their farms or homes and 68,975, or 41.58 per cent, which own them. Of the families
which own, 28,518, or 41. -35 per cent, have farm or home incumbrance and 40,457, or 58.65 per cent, are free of
incumbrance. In 100 families, on the average, 58.42 hire their farms or homes, 17.19 own with incumbrance, and
24.39 own without incumbrance.
Farm peoprietoeship — There are 26,439 farm families in Connecticut, which are 15.94 per cent of the total
number of families. Of these 21,765, or 82.32 per cent, own and 4,674, or 17.68 per cent, hire the farms cultivated
by them, while of the owning families 6,769, or 31.10 per cent, have incumbrance on their farms, and 14,996, or
68.90 per cent, have no incumbrance. The average 100 farm I'amilies are composed of 17.68 that hire, 25.60 that
own with incumbrance, and 56.72 that own without incumbrance.
In 1880 10.22 per cent of the farms were hired, so that there is an apparent relative increase of farm tenancy
during the decade ; but the sources of the statistics for 1880 and 1890 are not the same, since the figures for 1880
represent farms and those fen" 1890 farm families, and this maj^ somewhat affect the comparison.
Home peoprietoeship. — The 139,451 home families are 84.06 per cent of the families of the state, and are
divided into the several classes as follows : hiring families, 92,241, or 66.15 per cent of the total number of home
families ; owning families, 47,210, or 33.85 per cent; families owning free of incumbrance, 25,461, or 53.93 per cent
of the total number owning; families owning subject to incumbrance, 21,749, or 46.07 per cent of the owning
families. Of 100 home families, on the average, 66.15 hire their homes, 15.69 own with incumbrance, and 18.26 own
without incumbrance.
City homes are hired in a greater degree than is found outside of cities. In the 17 cities and towns of the state
having a population of 8,000 to 100,000 there are 81,253 home families, of which 57,932, or 71.30 per cent, hire and
23,321, or 28.70 per cent, own their homes. Homes subject to incumbrance are occupied by 11,990 owning families,
or 51.41 per cent of the total owning families, and 11,331 families, or 48.59 per cent of the owning families, have
no home incumbrance. In 100 of these city home families, on the average, 71.30 hire their homes, 14.76 own with
incumbrance, and 13.94 own without incumbrance.
In Hartford 80.06 per cent of the home families hire their homes, and this is the largest percentage found
among the 17 cities and towns. Bridgeport comes next, with 75.52 per cent. The smallest percentage is 53.01 for
Greenwich, and next to this is 59.77 for Norwalk.
In the state outside of the 17 cities and towns referred to 58.95 per cent of the home families hire and 41.05
per cent own their homes, 40.85 per cent of the home owning families own with incumbrance and 59.15 per cent
without incumbrance, while among 100 home families, on the average, 58.95 hire their homes, 16.77 own subject to
incumbrance, and 24.28 own free of incumbrance.
Value and incumbeance. — Liens amounting to 145,402,845 incumber the 28,518 owned farms and homes of the
state tliat are subject to incumbrance, $8,567,786 of which is on 6,769 farms and $36,835,059 on 21,749 homes. The
value of the incumbered farms and homes is $106,474,796 :■ farms, $21,084,5.59 ; homes, $85,390,237. Ratios of debt
to value: farms and homes, 42.64 per cent; farms, 40.64 per cent; homes, 43.14 per cent.
A debt of $25,621,524 incumbers 11,990 owned homes of the 17 cities and towns containing a population of
8,000 to 100,000, and these incumbered homes are worth $58,787,706, so that the debt is 43.58 per cent of the value.
The debt incumbering the owned homes in the state outside of the 17 cities and towns is 42.15 per cent of the value
of the homes subject to the incumbrance.
41—2 S
FARMS, HOMES, AND MORTGAGES.
Average values and incumbeances. — The average owned and incumbered farm of the state is worth $3,115;
home, §3,926; of each home in the 17 cities and towns, $4,903.
The average farm incumbrance for tlie state is $1,266 ; home, $1,691 ; liome incumbrance in the 17 cities and
towns, $2,137. Hartford county has homes of the highest average value, namely, $1,401, and the least average
value, $2,429, is in Middlesex count}'. In the state outside of the 17 cities and towns the average home value is
$2,726; incumbrance, $1,149. As before stated, all values are confined to incumbered farms and homes occupied by
ownei's.
Interest rates. — The chief rate of interest in this state, in regard to number of mortgages, is 6 per cent.
This rate is paid on 54.89 per cent of the farm incumbrance by 63.70 per cent of the farm debtor families; on 41.90
per cent of the home incumbrance by 55.03 per cent of the home debtor families, and in the 17 cities and towns on
34.55 per cent of the home incumbi-ance by 45.70 per cent of the families occupying owned and incumbered homes.
These percentages are contained in the following table, and the facts from which they were computed are exhibited
in Table 3:
PERCENTAGE OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES
AND OF AMOUNT OF INCUMBRANCE THEREON, BY RATES OF INTEREST.
; OK INTEREST.
Under 6 per cent
6 per cent
7 percent
8 per cent
6 to 8 per cent, in
Over 6 per cent...
Over 8 per cent...
Over 10 per cent..
Over 12 per cent..
For num-
ber of
families.
35.21
63.70
0.36
0.04
64.72
1.09
0.07
0.05
0.03
For
amount.
43.73
54.89
0.49
0.07
56.23
1.38
0.04
0.04
0.03
44.09
55.03
0.40
0.08
55.84
0.8S
0.07
57.31
41.90
0.24
0.10
42.6.T
0.79
0.04
O.Ol
0.01
FOR HOMES IK
lES OF 8,000 TO
100,000 PEOl'LB.
Rates that are less than the principal state rate of 6 per cent are paid by 35.2 L per cent of the farm debtor
families on 43.73 per cent of the farm debt; by 44.09 per cent of the home debtor families on 57.31 per cent of the
home debt; in the 17 cities and towns by 53.52 per cent of the home debtor families on 64.73 per cent of the home
debt.
In the state, rates higher than 6 per cent are paid by 1.09 per cent of the farm debtor families on 1.38 per cent
of the farm debt; by 0.88 of 1 per cent of the home debtor families on 0.79 of 1 per cent of the home debt; in the
17 cities and towns by 0.78 of 1 per cent of the home debtor families on 0.72 of 1 per cent of the home debt.
The highest rate reported is 20 per cent, which is paid by one home family on a debt of $1,453.
The legislature of Connecticut has limited the rate of interest as follows in the years named: 1702, 6 per cent;
1872, no limit; 1873, 7 per cent; 1877, no limit.
Interest charge and average rates of interest. — The total interest charge for 1 year on the debt
incumbering the owned farms of the state is $477,009; on the liomes, $2,008,090; total, $2,485,099.
The average interest charge for 1 year on each farm is $70; home, $92; on each home in the 17 cities and
towns, $115.
On farm loans the average rate of interest is 5.57 per cent; on home loans, 5.45 per cent ; on home loans in the
17 cities and towns, 5.38 per cent. Hence the average annual interest value of each owned and incumbered farm
in this state is $174; of each home, $214; of each home in the 17 cities and towns, $264. Outside of the 17 cities
and towns the average annual interest charge on each home is $65; average rate, 5.62 jjer cent; average annual
interest value, $153.
Objects op indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred
discloses the fact that 80.02 per cent of the farm debtor families of the state incurred 80.00 per cent of the farm
debt for the purpose of buying real estate and making real estate improvements, when these objects were not
associated with other objects, and that for the same objects, in the case of homes, 83.55 per cent of the home debtor
families incurred 81.96 per cent of the home debt; in the 17 cities and towns tliat 84.22 per cent of the liome debtor
families incurred 82.56 per cent of the home debt.
OWNERSHIP AND DEBT IN CONNECTICUT. 5
The objects of real estate purcluise and improvements, business, and the purchase of personal property, when
not complicated with other objects, led 86.82 per cent of the farm debtor families of the state to incur 88.32 per
cent of the farm debt; 91.42 per cent of the home debtor families to incur 93.87 per cent of the home debt; 92.28
per cent of the home debtor families in the 17 cities and towns to incur 94.52 per cent of the home debt.
Farm and family expenses, standing alone, are represented by 5.07 per cent of the farm debtor families of the
state and 2.73 per cent of the farm debt; family expenses by 4.25 per cent of the home debtor families and 2.09 per
cent of the home debt ; family expenses in the 17 cities and towns by 3.79 per cent of the home debtor families and
1.79 per cent of the home debt.
Table 1.— NUMBER AND PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIRED AND FREE AND INCUMBERED
FARMS AND HOMES.
Aggiegate.
OWNING.
Hiring.
PERCENTAGE OF
FAMILIES OWNING
AND HIEING.
1
PERCENTAGE OF
PERCENTAGE OF :; j.^,^^,,^^ „,^^.,^.g
FAMILIES OWNING ^^^^ ^^^ ^^
FREE AND INCUM-
EERED OF TOTAL „^^,^.^ ^^^
OWNING FAMILIES. 3,^,^^ FAMILIES.
i'
Total.
Free.
Incum-
bered.
1
1
Owning.; Hiring.
Free.
Incum- 1 _
bered. . !"•««■
Incum-
bered.
165,890
68,975
40,457
28,518
96,915
41.58
58.42
, 58.65
41.35
24.39
25 439
51 765 1 M 90R
6,769
21,749
11,990
4,674
92,241
82.32
33.85
17.68
66.15
! 68.90
53.93
31.10
46.07
56.72
18.26
139,451 47,210 ,j 25,461
Seventeen cities (for homes)
81,253
23,321
11,331
57,932
28.70 71.30
48.59
51.41
13.94
14.76
1,421
7,862
2,426
890
Bridgeport, Fairfield county
Danbury, Fairfield county
Greenwich, Fairfield county
10,411 1 2,549
3,823 1,397
1,679 , 789
11,502 2,293
1,563 436
4,585 ' 1,323
1,510 jl 597
3 490 ■ 1 064
1,285 1 1,264
571 826
451 338
24,48 75,52 1 50,41 ! 49.59 ; 12.34 12.14
36.54 63.46 40.87 59.13 ' 14.93 21.61
46.99 53.01 57.16 42.84 I 26.86 20.13
Manchester, Plartford county
220 ! 216 1,127
524 : 799 1 3,262
324 273 913
27.90 72.10 50.46 49.54 , 14.08 ' 13.82
Middletown, Middlesex county
39,54 60.46 1 54.27 45.73 21.46 18.08
New Haven, New Haven county
New London, New London county....
17,358 4,635 2,321 2,314 12,723
3,056 1,024 620 404 | 2,032
26,70 73,30 j 50.08 49.92 |; 13.37 1 13.33
33.51 66.49 |, 60.55 39.45 j: 20.29 13.22
Norwich, New London county
3,682 1 1,196 ; 636 | 560
3 109 i 1 lOB ii 5fi9 i 537
2,436
2,003
1,245
4,241
1,317
32.93 67.07 53.18 . 46.82 ; 17.51 | 15.42
Vernon, Tolland county
Waterbury, New Haven county
1,827
5,816
1,762
582
1,575
292 1 290
664 1 911
31.86
27.08
68.14
72.92
74.74
50.17
42.16
58.43
49.83
57.84
41.57
15.98
11.42
15,88
15,66
58,198
23,889
34,309
41.05
58.95
59.15
40.85
24.28
"
FARMS, HOMES, AND MORTGAGES.
Taule 2.— value of farms AND HOMES OCCUPIED BY OWNERS AND INCUMBERED
AND AMOUNT AND PERCENTAGE OF INCUMBRANCE THEREON.
CIVIL DIVISIONS.
Number of
families
owning
with incum-
brance.
The State
For farms
For homes
Seventeen cities {for homes)
Ansonia, New Haven county
Bridgeport, Fairfield county
Danbury, Fairfield county
Greenwich, Fairtield county
Hartford, Hartford county
Manchester, Hartford county
Meriden, New Haven county
Middletown, Middlesex county
New Britain, Hartford county
New Haven, New Haven county ....
New London, New London county.
Norwalk, Fairfield county
Norwicli, New London county
Stamford, Fairfield county
Vernon, Tolland county
Waterbury, New Haven county
Willimantic, Windham county
Rest of state (for homes)
6,769
21,749
5,474,796 | $15,402,845
21,084,559
85,390,237
8,567,786
36,835,059
58,787,706
1,621,524
1,350,129
7,160,730
3,711,399
1,307,937
8,304,216
690,423
3,615,962
1,039,060
3,288,653
11,711,745
1,832,060
3,230,221
2,175,527
2,734,908
965,109
4,868,100
801,527
588,122
2,925,836
1,470,983
510,134
3,868,185
226,010
1,632,713
448,711
1,541,337
5,347,972
703,735
1,323,641
930,378
1,218,612
406,460
2,127,651
348,154
26,602,531 11,213,535
brance of
value.
40.64
43.14
43.58
43.66
40.86
39.63
39.00
46.58
32.74
45.15
43.18
46.96
45.66
38.41
40.98
42.77
44.56
42.11
43.70
43.44
42.15
Table 3.— NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES AND THE INCUMBRANCE
THEREON, BY RATES OF INTEREST.
[Kates of interest represented by mixed numbers are combined into groups ; for instance, rates represented by " 1-2 " per cent include all rates greater than 1 per
cent and less than 2 per cent.]
RATES OF INTEREST.
THE ST.\TE.
FOE HOMES IN
CITIES OF 8,000 TO
100,000 PEOPLE.
Total.
For farms.
For homes.
Number
of
families.
1
Incum-
brance.
Number
of
families.
brance.
Number
of
families.
Incum-
brance.
Number
of
families.
Incum-
brance.
28,518
$45,402,845
6,769
$8,567,786
21,749
$36,835,059
11,990
$25,621,524
69
1
3
9
13
16
227
103
10,243
1,287
16,280
91
124
10
21
2
1
13
1
1
1
1
1
88,551 !
1,000
9,000
16,935
13,638
26,832
401,893
319,946
20,642,617
3,333,716
20,135,093
201,423
130,310
18,908
42,800
2,700
300
8,658
1,247
325
1,500
1,000
1,453
26
1
2
2
4
31,776
1,000
8,200
2,800
3.100
43
56,775
13
29,621
1
7
9
11
134
66
8,376
941
11,968
65
86
7
18
2
1
12
800
14,135
10,538
22,448
235,881
261.796
17,826,231
2,681,630
15,432,548
144,969
88,670
8,428
36,924
2,700
300
8,508
1 800
3
4
4
4,835
3,870
do ...
5 i 4.384
15.600
93
37
1,867
346
4,312
26
38
3
3
169,012
58,150
2,816,386
652,086
4,702,545
56,454
41,640
10,480
5,876
71 159,587
44 211,386
.. do .
5,720 1 14,239,550
557 1 1,920,893
5,479 8,851,046
do
30 1 88,447
42 1 52,113
. do
5 : 7,678
do
11 29,974
. do
1
10
do . .
1
1
150
1,217
5 1 5,900
do
1
325
1 1 325
do
1
1
1,500
1,000
1
do
1
1,453
OWNERSHIP AND DEBT IN CONNECTICUT.
TABLE 4 -AMOUNT OF ANNUAL INTEREST CHARGE AND AVERAGE VALUE, INCUMBRANCE^
™al Interest charge, and annual rate of interest for farms and
HOMES occupied BY OAVNERS AND INCUMBERED.
CIVIL DIVISIONS.
The State *3,734
For farms ...
For homes,.
Seventeen cities (for homes)..
Ansonia, New Haven county
Bridgeport, Fairfield county
Danbury, Fairfield county
Greenwich, Fairfield county
Hartford, Hartford county
Manchester, Hartford county
Meriden, New Haven county
Middletown, Middlesex county
New Britain, Hartford county
New Haven, New Haven county
New Ivondon, New London county..
Norwalk, Fairfield county
Norwich, New London county
Stamford, Fairfield county
Vernon, Tolland county
Waterbury, New Haven county
Willimantic, Windham county
Average | Average
value of incum-
each in- l brance on
cumbered each
farm or I farm or
home. I home.
4,9
3,516
6,665
4,493
3,870
6,938
3,196
4,526
3,806
4,752
5,061
4,535
3,328
5,344
2,137
Total
annual
interest
charge.
Average
1 annual
1 interest
I charge
on each
I farm or
■ home.
477,009
2,008,090
1,532
2,315
1,781
1,509
3,232
1,046
2,043
1,644
2,232
2,311
1,742
1,655
1,661
2,269
1,402
2,335
1,882
31,217
155,528
79,346
27,861
208,726
12,413
87,249
24,492
82,001
281,366
38,491
72,815
49,495
65,347
22,585
120,905
18,545
rate of
interest.
5.57
5.45
5.31
5.32
5.39
5.46
5,40
5.49
5.34
5.46
5.31
5.26
5.47
5.50
5.32
5.36
5.56
Rest of state (for homes)..
1,149
629,708
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