Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Asheville, North Carolina Home Affordability

The data below measures home affordability for the Asheville, North Carolina 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 Asheville home affordability to other cities.

Asheville, North Carolina 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 Asheville HPI series. Median household income data for Asheville is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Asheville, North Carolina Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 132.5
September 2013 131.2
June 2013 129.6
March 2013 129.1
December 2012 127.7
September 2012 128.8
June 2012 125.0
March 2012 129.0

Asheville, North Carolina Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Asheville, North Carolina Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 106.7
September 2013 105.6
June 2013 104.3
March 2013 103.9
December 2012 102.8
September 2012 103.7
June 2012 100.6
March 2012 103.9

Asheville, North Carolina Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Asheville, North Carolina 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

Asheville, North Carolina Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $218,097
January 2014 $214,771
December 2013 $214,014
November 2013 $219,135
October 2013 $220,971
September 2013 $213,261
August 2013 $214,014
July 2013 $216,296
June 2013 $224,172
May 2013 $239,163
April 2013 $241,855
March 2013 $238,276
February 2013 $239,460

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.