Department of Numbers

Albany, Georgia Home Affordability

The data below measures home affordability for the Albany, Georgia 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 Albany home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Albany, Georgia Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 125.7
June 2011 129.5
March 2011 129.9
December 2010 134.0
September 2010 134.8
June 2010 132.6
March 2010 135.9
December 2009 127.1
September 2009 129.0

Albany, Georgia Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Albany, Georgia Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 90.5
June 2011 93.3
March 2011 93.6
December 2010 96.5
September 2010 97.1
June 2010 95.5
March 2010 97.9
December 2009 108.9
September 2009 110.5

Albany, Georgia Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Albany, Georgia 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

Albany, Georgia Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $178,267
October 2011 $176,556
September 2011 $175,710
August 2011 $172,384
July 2011 $166,787
June 2011 $167,570
May 2011 $165,046
April 2011 $161,273
March 2011 $161,273
February 2011 $159,253
January 2011 $162,766
December 2010 $163,710
November 2010 $171,771

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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