Hawaii Home Affordability
The data below quantifies Hawaii home affordability by using state home price indices to calculate price-to-income and price-to-rent ratios. The maximum affordable loan amount for the median household income is also calculated.
Hawaii Home Price-to-Income Index
The home price-to-income ratio for Hawaii is calculated from the Federal Housing Finance Agency's purchase only index and state annual median household income data from the Census CPS.1
Home Price-to-Income: FHFA
Note: Index set to 100 in Q1 of 2000
Hawaii Home Price-to-Income Index History
| Date | FHFA |
|---|---|
| June 2010 | 170.2 |
| March 2010 | 170.9 |
| December 2009 | 173.3 |
| September 2009 | 179.4 |
| June 2009 | 176.7 |
Hawaii Home Price-to-Rent Index
The price-to-rent ratio for Hawaii is determined from the FHFA purchase only price index and median contract rent as reported by the Census ACS.
Home Price-to-Rent: FHFA
Note: Index set to 100 in Q1 of 2000
Hawaii Home Price-to-Rent Index History
| Date | FHFA |
|---|---|
| June 2010 | 133.2 |
| March 2010 | 133.7 |
| December 2009 | 135.6 |
| September 2009 | 140.4 |
| June 2009 | 138.3 |
Hawaii Inferred Affordable Mortgage
The inferred affordable mortgage is determined by taking the median household income for Hawaii 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 CPS median household income and average monthly mortgage rates.
Inferred Affordable Mortgage
| Date | Inferred Mortgage |
|---|---|
| July 2010 | $301,421 |
| June 2010 | $295,180 |
| May 2010 | $290,128 |
| April 2010 | $283,272 |
| March 2010 | $287,486 |
| February 2010 | $286,832 |
| January 2010 | $285,529 |
| December 2009 | $288,802 |
| November 2009 | $290,460 |
| October 2009 | $288,143 |
| September 2009 | $284,558 |
| August 2009 | $280,409 |
| July 2009 | $279,464 |