Department of Numbers

Gadsden, Alabama Home Affordability

The data below measures home affordability for the Gadsden, Alabama 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 Gadsden home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Gadsden, Alabama Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 121.8
September 2011 123.2
June 2011 120.6
March 2011 119.0
December 2010 121.1
September 2010 124.5
June 2010 120.2
March 2010 120.3
December 2009 113.6

Gadsden, Alabama Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Gadsden, Alabama Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 97.7
September 2011 98.9
June 2011 96.7
March 2011 95.5
December 2010 97.1
September 2010 99.9
June 2010 96.4
March 2010 96.5
December 2009 97.9

Gadsden, Alabama Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Gadsden, Alabama 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

Gadsden, Alabama Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $189,804
December 2011 $188,886
November 2011 $188,202
October 2011 $186,396
September 2011 $185,503
August 2011 $181,992
July 2011 $176,082
June 2011 $176,909
May 2011 $174,244
April 2011 $170,261
March 2011 $170,261
February 2011 $168,129
January 2011 $171,838

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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