B. TENANCY 



TENANCY IN THE UNITED STATES 



By George K. Holmes 



(From the Quarterly Journal of Economics, Vol. X, p. 34, October, 1895) 



WHEN the census made it known that less than half of the 

 families in the United States own the dwellings in which 

 they live, the surprise that followed demanded explanations and 

 the causes of the fact. Are the circumstances of a large portion of 

 the tenants such that they do not want to own their dwellings, 

 although able to do so, or does poverty, either absolute or relative 

 to land and building values, prevent them from becoming owners ? 

 Here is a country of vast extent, whose population cannot yet be 

 regarded as dense. Outside of cities and towns there is ample 

 area to satisfy the keenest land-hunger ; and the prices do not 

 prohibit purchase to any but the poorest people, especially if it is 

 borne in mind that about one-half to two-thirds of the price of 

 the purchase may be represented by a mortgage. 



The acre tracts that were sold in Illinois in 1887 brought $32.86 

 per acre, including buildings and all improvements. In Wisconsin, 

 in 1893, the actual selling price per acre was $22.51. In Min- 

 nesota, in 1 88 1, it was 310.03 ; and the price increased to $13.41 

 in 1 89 1. The price per acre in Ohio is somewhat higher, and 

 within the period of eleven years, from 1881 to 1891, ranged 

 from $36.70 in 1891 to $47.29 in 1884, some coal deeds being 

 excluded from the latter year. These prices represent actual sales 

 of acre tracts of land, mostly composed of farms, as found recorded 

 in registries of deeds and as summarized in reports of state 

 officers. Doubtless the prices are a little higher than the prices 

 of farm acres, for the reason that suburban acre tracts and some 



487 



