Department of Numbers

Augusta, Georgia Home Affordability

The data below measures home affordability for the Augusta-Richmond County, 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 Augusta home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Augusta, Georgia Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 119.7
September 2011 120.1
June 2011 118.3
March 2011 122.4
December 2010 124.8
September 2010 126.6
June 2010 125.5
March 2010 126.3
December 2009 135.3

Augusta, 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 Augusta median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Augusta, Georgia Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 105.4
September 2011 105.8
June 2011 104.2
March 2011 107.8
December 2010 109.9
September 2010 111.4
June 2010 110.5
March 2010 111.2
December 2009 116.6

Augusta, Georgia Inferred Affordable Mortgage

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

Augusta, Georgia Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $235,171
December 2011 $234,034
November 2011 $233,186
October 2011 $230,948
September 2011 $229,841
August 2011 $225,491
July 2011 $218,169
June 2011 $219,193
May 2011 $215,891
April 2011 $210,957
March 2011 $210,957
February 2011 $208,315
January 2011 $212,910

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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