Department of Numbers

Owensboro, Kentucky Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Owensboro, Kentucky Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 112.6
September 2011 113.9
June 2011 111.5
March 2011 114.2
December 2010 112.1
September 2010 113.6
June 2010 110.3
March 2010 109.8
December 2009 108.2

Owensboro, Kentucky Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Owensboro, Kentucky Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 103.1
September 2011 104.3
June 2011 102.0
March 2011 104.6
December 2010 102.6
September 2010 104.0
June 2010 101.0
March 2010 100.5
December 2009 92.8

Owensboro, Kentucky Inferred Affordable Mortgage

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

Owensboro, Kentucky Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $216,897
December 2011 $215,849
November 2011 $215,067
October 2011 $213,003
September 2011 $211,982
August 2011 $207,970
July 2011 $201,217
June 2011 $202,161
May 2011 $199,116
April 2011 $194,565
March 2011 $194,565
February 2011 $192,128
January 2011 $196,366

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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