Department of Numbers

Kokomo, Indiana Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Kokomo, Indiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 107.5
June 2011 104.6
March 2011 109.6
December 2010 109.8
September 2010 110.0
June 2010 106.9
March 2010 106.0
December 2009 96.0
September 2009 97.2

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Kokomo, Indiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 87.8
June 2011 85.4
March 2011 89.5
December 2010 89.7
September 2010 89.8
June 2010 87.3
March 2010 86.5
December 2009 87.4
September 2009 88.5

Kokomo, Indiana Inferred Affordable Mortgage

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

Kokomo, Indiana Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $215,900
October 2011 $213,828
September 2011 $212,803
August 2011 $208,776
July 2011 $201,997
June 2011 $202,945
May 2011 $199,888
April 2011 $195,319
March 2011 $195,319
February 2011 $192,873
January 2011 $197,127
December 2010 $198,270
November 2010 $208,033

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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