Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Roanoke, Virginia Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Roanoke, Virginia Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 119.4
September 2013 121.1
June 2013 120.7
March 2013 121.0
December 2012 122.0
September 2012 122.0
June 2012 119.3
March 2012 121.5

Roanoke, Virginia Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Roanoke, Virginia Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 101.3
September 2013 102.7
June 2013 102.3
March 2013 102.6
December 2012 103.5
September 2012 103.4
June 2012 101.2
March 2012 103.0

Roanoke, Virginia Inferred Affordable Mortgage

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

Roanoke, Virginia Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $237,304
January 2014 $233,685
December 2013 $232,862
November 2013 $238,434
October 2013 $240,431
September 2013 $232,043
August 2013 $232,862
July 2013 $235,345
June 2013 $243,914
May 2013 $260,226
April 2013 $263,154
March 2013 $259,260
February 2013 $260,549

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. ↩

Data on deptofnumbers.com is for informational purposes only. No warranty or guarantee of accuracy is offered or implied. Contact ben@deptofnumbers.com (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions. Privacy policy.