Department of Numbers

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St Joseph, Missouri Home Affordability

The data below measures home affordability for the St. Joseph, Missouri 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 St Joseph home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

St Joseph, Missouri Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 106.7
September 2013 106.2
June 2013 105.3
March 2013 104.8
December 2012 105.3
September 2012 104.4
June 2012 103.8
March 2012 103.5

St Joseph, Missouri Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

St Joseph, Missouri Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 90.9
September 2013 90.6
June 2013 89.8
March 2013 89.4
December 2012 89.8
September 2012 89.0
June 2012 88.5
March 2012 88.3

St Joseph, Missouri Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for St Joseph, Missouri 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

St Joseph, Missouri Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $221,188
January 2014 $217,815
December 2013 $217,048
November 2013 $222,242
October 2013 $224,104
September 2013 $216,285
August 2013 $217,048
July 2013 $219,362
June 2013 $227,350
May 2013 $242,554
April 2013 $245,283
March 2013 $241,654
February 2013 $242,855

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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