Department of Numbers

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Sherman, Texas Home Affordability

The data below measures home affordability for the Sherman-Denison, Texas 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 Sherman home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Sherman, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 104.8
September 2013 109.9
June 2013 109.1
March 2013 105.9
December 2012 101.7
September 2012 105.6
June 2012 101.3
March 2012 102.0

Sherman, Texas Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Sherman, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 91.8
September 2013 96.3
June 2013 95.6
March 2013 92.8
December 2012 89.1
September 2012 92.5
June 2012 88.8
March 2012 89.3

Sherman, Texas Inferred Affordable Mortgage

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

Sherman, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $239,835
January 2014 $236,177
December 2013 $235,345
November 2013 $240,977
October 2013 $242,996
September 2013 $234,517
August 2013 $235,345
July 2013 $237,855
June 2013 $246,515
May 2013 $263,001
April 2013 $265,961
March 2013 $262,025
February 2013 $263,328

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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