Department of Numbers

Muncie, Indiana Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Muncie, Indiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 106.3
September 2011 106.8
June 2011 105.1
March 2011 107.4
December 2010 110.8
September 2010 109.1
June 2010 108.9
March 2010 102.8
December 2009 112.3

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Muncie, Indiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 85.0
September 2011 85.4
June 2011 84.1
March 2011 85.9
December 2010 88.6
September 2010 87.3
June 2010 87.1
March 2010 82.3
December 2009 93.1

Muncie, Indiana Inferred Affordable Mortgage

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

Muncie, Indiana Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $189,831
December 2011 $188,913
November 2011 $188,229
October 2011 $186,422
September 2011 $185,529
August 2011 $182,017
July 2011 $176,107
June 2011 $176,933
May 2011 $174,268
April 2011 $170,285
March 2011 $170,285
February 2011 $168,152
January 2011 $171,862

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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