Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Evansville, Indiana Home Affordability

The data below measures home affordability for the Evansville, Indiana metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Evansville home affordability to other cities.

Evansville, Indiana Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Evansville HPI series. Median household income data for Evansville is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Evansville, Indiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 109.0
September 2013 109.4
June 2013 108.2
March 2013 109.0
December 2012 108.6
September 2012 108.1
June 2012 108.1
March 2012 107.6

Evansville, Indiana Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Evansville median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Evansville, Indiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 90.1
September 2013 90.4
June 2013 89.4
March 2013 90.1
December 2012 89.7
September 2012 89.3
June 2012 89.3
March 2012 88.9

Evansville, Indiana Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Evansville, Indiana and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Evansville, Indiana Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $226,760
January 2014 $223,303
December 2013 $222,516
November 2013 $227,841
October 2013 $229,749
September 2013 $221,733
August 2013 $222,516
July 2013 $224,889
June 2013 $233,077
May 2013 $248,664
April 2013 $251,463
March 2013 $247,741
February 2013 $248,973

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data.