Department of Numbers

Lewiston, Maine Home Affordability

The data below measures home affordability for the Lewiston-Auburn, Maine 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 Lewiston home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lewiston, Maine Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2012 122.0
September 2012 123.2
June 2012 120.3
March 2012 124.1
December 2011 126.7
September 2011 123.8
June 2011 123.7
March 2011 124.0
December 2010 138.8

Lewiston, Maine Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lewiston, Maine Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2012 100.9
September 2012 101.8
June 2012 99.4
March 2012 102.5
December 2011 104.7
September 2011 102.3
June 2011 102.2
March 2011 102.5
December 2010 108.5

Lewiston, Maine Inferred Affordable Mortgage

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

Lewiston, Maine Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2013 $251,606
December 2012 $253,503
November 2012 $253,503
October 2012 $252,552
September 2012 $248,800
August 2012 $245,735
July 2012 $247,260
June 2012 $243,323
May 2012 $239,769
April 2012 $236,579
March 2012 $235,434
February 2012 $237,154
January 2012 $236,292

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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