Department of Numbers

St Cloud, Minnesota Home Affordability

The data below measures home affordability for the St. Cloud, Minnesota 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 St Cloud home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

St Cloud, Minnesota Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 118.7
September 2011 118.1
June 2011 116.9
March 2011 115.5
December 2010 122.0
September 2010 123.7
June 2010 119.8
March 2010 119.6
December 2009 127.5

St Cloud, Minnesota Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

St Cloud, Minnesota Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 101.4
September 2011 100.8
June 2011 99.8
March 2011 98.7
December 2010 104.2
September 2010 105.6
June 2010 102.3
March 2010 102.2
December 2009 103.1

St Cloud, Minnesota Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for St Cloud, Minnesota 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

St Cloud, Minnesota Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $264,823
December 2011 $263,543
November 2011 $262,588
October 2011 $260,068
September 2011 $258,821
August 2011 $253,923
July 2011 $245,678
June 2011 $246,831
May 2011 $243,113
April 2011 $237,556
March 2011 $237,556
February 2011 $234,581
January 2011 $239,755

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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