Department of Numbers

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Houma, Louisiana Home Affordability

The data below measures home affordability for the Houma-Bayou Cane-Thibodaux, Louisiana 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 Houma home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Houma, Louisiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 123.2
September 2013 123.5
June 2013 121.3
March 2013 119.5
December 2012 121.1
September 2012 119.8
June 2012 117.1
March 2012 118.5

Houma, Louisiana Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Houma, Louisiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 91.1
September 2013 91.3
June 2013 89.7
March 2013 88.3
December 2012 89.5
September 2012 88.5
June 2012 86.5
March 2012 87.6

Houma, Louisiana Inferred Affordable Mortgage

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

Houma, Louisiana Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $246,862
January 2014 $243,097
December 2013 $242,241
November 2013 $248,037
October 2013 $250,115
September 2013 $241,389
August 2013 $242,241
July 2013 $244,824
June 2013 $253,738
May 2013 $270,707
April 2013 $273,754
March 2013 $269,702
February 2013 $271,043

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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