Department of Numbers

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Muncie, Indiana Home Affordability

The data below measures home affordability for the Muncie, 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 Muncie home affordability to other cities.

Muncie, 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 Muncie HPI series. Median household income data for Muncie is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Muncie, Indiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 103.0
September 2013 102.8
June 2013 103.3
March 2013 103.6
December 2012 104.0
September 2012 101.0
June 2012 101.2
March 2012 101.2

Muncie, 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 Muncie median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Muncie, Indiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 83.0
September 2013 82.9
June 2013 83.2
March 2013 83.5
December 2012 83.8
September 2012 81.4
June 2012 81.6
March 2012 81.5

Muncie, Indiana Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Muncie, 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

Muncie, Indiana Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $187,078
January 2014 $184,226
December 2013 $183,577
November 2013 $187,969
October 2013 $189,544
September 2013 $182,931
August 2013 $183,577
July 2013 $185,534
June 2013 $192,290
May 2013 $205,149
April 2013 $207,458
March 2013 $204,388
February 2013 $205,404

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. ↩

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