Department of Numbers

Santa Fe, New Mexico Home Affordability

The data below measures home affordability for the Santa Fe, New Mexico 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 Santa Fe home affordability to other cities.

Santa Fe, New Mexico 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 Santa Fe HPI series. Median household income data for Santa Fe is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Santa Fe, New Mexico Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 147.5
June 2011 147.7
March 2011 148.8
December 2010 152.7
September 2010 156.8
June 2010 154.9
March 2010 156.5
December 2009 142.5
September 2009 146.3

Santa Fe, New Mexico Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Santa Fe, New Mexico Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 128.8
June 2011 129.0
March 2011 130.1
December 2010 133.4
September 2010 137.0
June 2010 135.3
March 2010 136.7
December 2009 133.2
September 2009 136.7

Santa Fe, New Mexico Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Santa Fe, New Mexico 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

Santa Fe, New Mexico Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $246,833
October 2011 $244,464
September 2011 $243,293
August 2011 $238,688
July 2011 $230,938
June 2011 $232,021
May 2011 $228,526
April 2011 $223,303
March 2011 $223,303
February 2011 $220,506
January 2011 $225,370
December 2010 $226,677
November 2010 $237,839

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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