Department of Numbers

Metro Home Affordability Ratios Updated for 1Q 2010

Posted Friday, May 14 2010

I posted 4Q 2009 price-to-income and price-to-rent ratios just last week, but it's already out of date since the NAR released 1Q 2010 median sales price data this week. I've re-run all the numbers and have this new table of affordability ratios for you below. Remember that the adjusted rent ratio comes from scaling median contract rent by household size.

1Q 2010 Home Affordability Ratios from Median Sales Price

Metro Price-to-Income Price-to-Rent Price-to-Rent (Adj)
Akron, Ohio 1.9 14.01 11.75
Albany, New York 3.13 23.1 17.33
Albuquerque, New Mexico 3.69 23.34 20.55
Allentown, Pennsylvania 3.88 27.36 23.48
Amarillo, Texas 2.44 18.33 15.13
Atlanta, Georgia 1.81 12.35 11.44
Atlantic City, New Jersey 4.05 22.16 19.73
Austin, Texas 3.08 20.64 17.03
Baltimore, Maryland 3.55 23.5 20.53
Barnstable Town, Massachusetts 5.68 30.35 25.06
Baton Rouge, Louisiana 3.43 25.27 22.78
Beaumont, Texas 2.66 20.96 18.95
Binghamton, New York 2.28 17.1 13.41
Birmingham, Alabama 2.74 21.2 19.02
Bismarck, North Dakota 2.94 26.91 19.9
Bloomington, Illinois 2.61 23.44 18.74
Boise City, Idaho 2.6 16.68 15.62
Boston, Massachusetts 4.51 27.09 21.51
Boulder, Colorado 5.05 31.91 28.18
Bridgeport, Connecticut 4.12 29.63 26.22
Buffalo, New York 2.23 17.73 13.89
Cape Coral, Florida 1.7 8.7 9.03
Cedar Rapids, Iowa 2.53 23.53 16.54
Champaign, Illinois 2.73 18.03 14.47
Charleston, South Carolina 3.72 23.85 22.87
Charleston, West Virginia 2.71 23.91 19.86
Charlotte, North Carolina 3.12 22.46 20.31
Chattanooga, Tennessee 2.49 18.16 15.65
Chicago, Illinois 2.88 19.04 16.39
Cincinnati, Ohio 2.25 18.14 15.33
Cleveland, Ohio 2.16 15.45 12.58
Colorado Springs, Colorado 3.14 21.45 19.38
Columbia, Missouri 2.98 19.8 17.52
Columbus, Ohio 2.31 17.65 15.11
Corpus Christi, Texas 2.82 17.84 16.49
Cumberland, Maryland 2.36 19.27 16.4
Dallas, Texas 2.52 17.62 15.1
Davenport, Iowa 2.09 16.95 14.36
Dayton, Ohio 2.03 15.28 13.48
Decatur, Alabama 1.56 15.19 14.47
Deltona, Florida 2.51 12.87 12.34
Denver, Colorado 3.73 24.39 21.82
Des Moines, Iowa 2.26 18.01 14.52
Dover, Delaware 3.39 21.48 18.67
Durham, North Carolina 3.27 21.49 18.41
El Paso, Texas 3.52 21.01 18.21
Elmira, New York 2.18 16.17 13.02
Erie, Pennsylvania 2.16 16.72 14.46
Eugene, Oregon 4.49 24.34 21.31
Fargo, North Dakota 3.02 22.64 15.52
Farmington, New Mexico 4.05 30.71 28.24
Florence, South Carolina 2.45 19.18 19.94
Fort Wayne, Indiana 1.92 15.85 13.18
Gainesville, Florida 3.65 18.03 14.86
Glens Falls, New York 2.87 19.06 16.45
Grand Rapids, Michigan 1.82 12.83 10.66
Green Bay, Wisconsin 2.51 20.5 16.72
Greensboro, North Carolina 2.68 19.09 18.32
Greenville, South Carolina 3.12 22.97 20.14
Gulfport, Mississippi 2.87 15.78 15.34
Hagerstown, Maryland 2.88 19.48 17.74
Hartford, Connecticut 3.36 24.26 19.91
Honolulu, Hawaii 8.76 42.19 38.67
Houston, Texas 2.67 19.36 16.62
Indianapolis, Indiana 2.02 15.17 12.92
Jackson, Mississippi 2.64 18.26 17.5
Jacksonville, Florida 2.66 16.3 14.64
Kankakee, Illinois 2.34 16.53 13.82
Kansas City, Missouri 2.31 18.24 14.83
Kennewick, Washington 3.42 24.27 22.3
Kingston, New York 3.96 23.05 19.82
Knoxville, Tennessee 2.97 21.44 17.73
Lansing, Michigan 1.55 10.66 8.95
Las Vegas, Nevada 2.42 12.7 12.42
Lexington, Kentucky 2.67 20.15 17.53
Lincoln, Nebraska 2.53 20.31 15.8
Little Rock, Arkansas 2.86 20.15 18.46
Los Angeles, California 5.5 25.69 23.44
Louisville, Kentucky 2.62 20.19 17.58
Madison, Wisconsin 3.5 24.93 20.27
Memphis, Tennessee 2.47 16.23 15.55
Miami, Florida 3.93 16.96 16.52
Milwaukee, Wisconsin 3.75 26.58 21.9
Minneapolis, Minnesota 2.46 17.72 13.92
Mobile, Alabama 2.83 19.17 17.22
Montgomery, Alabama 2.68 19.53 19.07
New Haven, Connecticut 3.7 22.96 18.9
New Orleans, Louisiana 3.25 17.06 16.08
New York, New York 5.88 32.68 27.82
Norwich, Connecticut 2.99 20.5 17.18
Ocala, Florida 2.31 11.17 12.73
Oklahoma City, Oklahoma 2.95 22.55 20.56
Omaha, Nebraska 2.42 18.71 14.66
Orlando, Florida 2.61 13.1 12.62
Palm Bay, Florida 2.06 10.96 10.69
Pensacola, Florida 3.04 17.98 17.71
Peoria, Illinois 2.01 17.37 14.03
Philadelphia, Pennsylvania 3.45 23.0 18.29
Phoenix, Arizona 2.52 14.62 14.93
Pittsburgh, Pennsylvania 2.43 19.33 15.47
Pittsfield, Massachusetts 4.21 26.62 20.43
Portland, Oregon 4.04 27.06 22.47
Providence, Rhode Island 3.79 25.01 19.68
Raleigh, North Carolina 3.6 27.28 24.39
Reading, Pennsylvania 2.7 20.95 17.69
Reno, Nevada 3.15 19.11 18.74
Riverside, California 3.2 15.36 14.9
Rochester, New York 2.14 15.18 12.3
Rockford, Illinois 2.01 15.39 13.0
Sacramento, California 2.94 16.61 16.0
Saginaw, Michigan 1.47 9.97 9.27
Salem, Oregon 3.99 26.94 26.25
Salt Lake City, Utah 3.4 23.46 20.39
San Antonio, Texas 2.98 19.21 16.79
San Diego, California 6.01 27.9 26.33
San Francisco, California 6.74 35.84 30.57
San Jose, California 6.36 34.98 32.57
Seattle, Washington 4.55 28.95 24.58
Shreveport, Louisiana 3.7 22.76 21.27
Sioux Falls, South Dakota 2.54 20.29 16.31
South Bend, Indiana 1.59 10.16 8.78
Spartanburg, South Carolina 2.59 20.08 19.15
Spokane, Washington 3.51 23.86 20.6
Springfield, Illinois 2.16 18.62 15.09
Springfield, Massachusetts 3.53 23.55 19.4
Springfield, Missouri 2.54 19.39 17.08
St Louis, Missouri 2.18 17.09 14.51
Syracuse, New York 2.38 17.17 13.29
Tallahassee, Florida 3.5 19.7 18.18
Tampa, Florida 2.89 14.68 13.86
Toledo, Ohio 1.67 12.52 11.02
Topeka, Kansas 2.0 16.99 14.87
Trenton, New Jersey 3.12 21.79 18.82
Tucson, Arizona 3.58 22.06 20.66
Virginia Beach, Virginia 3.41 20.73 19.39
Washington, District of Columbia 3.41 21.26 18.2
Waterloo, Iowa 2.27 18.07 15.64
Wichita, Kansas 2.31 20.46 16.24
Worcester, Massachusetts 3.14 23.79 18.31
Yakima, Washington 3.42 25.02 23.45
US 3.30 20.15 18.21

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