Bloomington, Indiana Home Affordability

The data below measures home affordability for the Bloomington, Indiana 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 Bloomington home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Bloomington, Indiana Home Price-to-Income Ratio History

Date	FHFA (Index Ratio)
September 2011	124.1
June 2011	119.2
March 2011	122.5
December 2010	125.5
September 2010	124.0
June 2010	123.3
March 2010	122.7
December 2009	124.5
September 2009	122.5

Bloomington, Indiana Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Bloomington, Indiana Home Price-to-Rent Ratio History

Date	FHFA (Index Ratio)
September 2011	125.8
June 2011	120.8
March 2011	124.2
December 2010	127.3
September 2010	125.7
June 2010	125.0
March 2010	124.5
December 2009	116.7
September 2009	114.9

Bloomington, Indiana Inferred Affordable Mortgage

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

Bloomington, Indiana Inferred Affordable Mortgage History

Date	Inferred Mortgage
November 2011	$199,978
October 2011	$198,059
September 2011	$197,109
August 2011	$193,379
July 2011	$187,100
June 2011	$187,978
May 2011	$185,146
April 2011	$180,914
March 2011	$180,914
February 2011	$178,649
January 2011	$182,589
December 2010	$183,648
November 2010	$192,691