Department of Numbers

Missoula, Montana Home Affordability

The data below measures home affordability for the Missoula, Montana 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 Missoula home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Missoula, Montana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 129.9
June 2011 127.7
March 2011 127.4
December 2010 132.3
September 2010 135.0
June 2010 130.6
March 2010 131.9
December 2009 158.5
September 2009 158.7

Missoula, Montana Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Missoula, Montana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 123.0
June 2011 120.9
March 2011 120.6
December 2010 125.3
September 2010 127.8
June 2010 123.7
March 2010 124.9
December 2009 138.2
September 2009 138.3

Missoula, Montana Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Missoula, Montana 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

Missoula, Montana Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $239,053
October 2011 $236,759
September 2011 $235,624
August 2011 $231,164
July 2011 $223,658
June 2011 $224,708
May 2011 $221,323
April 2011 $216,264
March 2011 $216,264
February 2011 $213,556
January 2011 $218,267
December 2010 $219,532
November 2010 $230,342

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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