Department of Numbers

Flagstaff, Arizona Home Affordability

The data below measures home affordability for the Flagstaff, Arizona 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 Flagstaff home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Flagstaff, Arizona Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 131.8
September 2011 134.5
June 2011 132.7
March 2011 137.7
December 2010 146.0
September 2010 146.9
June 2010 146.4
March 2010 149.1
December 2009 130.7

Flagstaff, Arizona Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Flagstaff, Arizona Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 98.3
September 2011 100.3
June 2011 99.0
March 2011 102.7
December 2010 108.9
September 2010 109.6
June 2010 109.2
March 2010 111.2
December 2009 120.2

Flagstaff, Arizona Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Flagstaff, Arizona 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

Flagstaff, Arizona Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $222,761
December 2011 $221,684
November 2011 $220,881
October 2011 $218,761
September 2011 $217,713
August 2011 $213,592
July 2011 $206,657
June 2011 $207,627
May 2011 $204,499
April 2011 $199,825
March 2011 $199,825
February 2011 $197,322
January 2011 $201,675

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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