Department of Numbers

Saginaw, Michigan Home Affordability

The data below measures home affordability for the Saginaw-Saginaw Township North, Michigan 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 Saginaw home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Saginaw, Michigan Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 93.5
June 2011 91.8
March 2011 94.2
December 2010 98.4
September 2010 97.3
June 2010 94.5
March 2010 96.0
December 2009 102.7
September 2009 106.8

Saginaw, Michigan Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Saginaw, Michigan Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 76.8
June 2011 75.4
March 2011 77.4
December 2010 80.8
September 2010 79.9
June 2010 77.6
March 2010 78.9
December 2009 78.8
September 2009 82.0

Saginaw, Michigan Inferred Affordable Mortgage

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

Saginaw, Michigan Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $219,875
October 2011 $217,764
September 2011 $216,721
August 2011 $212,619
July 2011 $205,715
June 2011 $206,680
May 2011 $203,567
April 2011 $198,914
March 2011 $198,914
February 2011 $196,423
January 2011 $200,756
December 2010 $201,920
November 2010 $211,863

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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