Department of Numbers

Monroe, Louisiana Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Monroe, Louisiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 118.2
June 2011 117.9
March 2011 119.0
December 2010 122.0
September 2010 121.9
June 2010 118.4
March 2010 118.1
December 2009 118.2
September 2009 121.6

Monroe, Louisiana Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Monroe, Louisiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 97.8
June 2011 97.5
March 2011 98.4
December 2010 100.9
September 2010 100.8
June 2010 98.0
March 2010 97.7
December 2009 105.0
September 2009 108.1

Monroe, Louisiana Inferred Affordable Mortgage

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

Monroe, Louisiana Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $198,279
October 2011 $196,376
September 2011 $195,435
August 2011 $191,736
July 2011 $185,510
June 2011 $186,381
May 2011 $183,573
April 2011 $179,377
March 2011 $179,377
February 2011 $177,131
January 2011 $181,038
December 2010 $182,088
November 2010 $191,054

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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