Department of Numbers

Utica, New York Home Affordability

The data below measures home affordability for the Utica-Rome, New York 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 Utica home affordability to other cities.

Utica, New York 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 Utica HPI series. Median household income data for Utica is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Utica, New York Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 126.8
September 2011 129.4
June 2011 128.0
March 2011 130.5
December 2010 129.6
September 2010 132.1
June 2010 128.0
March 2010 128.3
December 2009 132.2

Utica, New York Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Utica, New York Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 120.9
September 2011 123.5
June 2011 122.1
March 2011 124.5
December 2010 123.6
September 2010 126.0
June 2010 122.1
March 2010 122.4
December 2009 132.0

Utica, New York Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Utica, New York 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

Utica, New York Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $246,528
December 2011 $245,336
November 2011 $244,448
October 2011 $242,102
September 2011 $240,941
August 2011 $236,381
July 2011 $228,706
June 2011 $229,779
May 2011 $226,318
April 2011 $221,145
March 2011 $221,145
February 2011 $218,375
January 2011 $223,192

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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