Department of Numbers

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Corvallis, Oregon Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Corvallis, Oregon Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 128.2
September 2013 132.1
June 2013 127.0
March 2013 123.2
December 2012 123.4
September 2012 122.5
June 2012 120.5
March 2012 120.4

Corvallis, Oregon Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Corvallis, Oregon Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 113.2
September 2013 116.7
June 2013 112.2
March 2013 108.8
December 2012 109.0
September 2012 108.2
June 2012 106.5
March 2012 106.4

Corvallis, Oregon Inferred Affordable Mortgage

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

Corvallis, Oregon Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $258,314
January 2014 $254,375
December 2013 $253,479
November 2013 $259,544
October 2013 $261,719
September 2013 $252,587
August 2013 $253,479
July 2013 $256,182
June 2013 $265,510
May 2013 $283,266
April 2013 $286,454
March 2013 $282,215
February 2013 $283,617

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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