The U. S. College Graduate

By F. Lawrence Babcock | Go to book overview

HOME OWNERSHIP AND VALUE

Percentage of home owning versus renting is no true measure of economic status, since a number of studies have found that a division of owners and renters cuts through practically all economic levels. The following table, therefore, merely indicates that on this one factor the College Bloc rather closely resembles the whole population:


TABLE H
College Graduate Family Homes by Ownership
% of Total U. S. Famllies
Ownership% of Totalas Est. by LIFE
Owned Homes45.4%41.0%
Rented Homes50.159.0
Homes with free housing4.5
______________
100.0%100.0%

As to type of dwelling lived in, the Graduate Bloc shows a slightly wider variation from the U. S. norm: a little better than a third of the college families live in multi-family houses, as against a little less than a fourth of the total of U. S. families. (Figures from FORTUNE, June, 1935.) This slight difference is probably accounted for by the greater urban concentration of college graduates, and by the consequently larger proportion of apartment dwellers. Of more significance is the evaluation of the homes in which college families live: the median monthly rental value of the homes they own is reported as $53; that of the homes they rent as $41; and the median of all, owned or rented, is $46. These rental values compare with a figure published in FORTUNE ( June, 1935) of $27 for the average monthly rental of the U. S. rented home. In this respect, therefore, the Graduate Bloc reflects in a higher standard of living the previously recorded findings that it has a much higher earning power than the median of the population of which it is a part.


Chapter 3
The Geography of Education

Historically it is the Eastern Seaboard that is richest in the traditions of higher learning. And if the priority of the old colleges and universities there had resulted in a geographic concentration of college graduates, as, for example, Democrats are concentrated in the South,

-17-

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