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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Canton, Ohio Home Affordability

The data below measures home affordability for the Canton-Massillon, Ohio 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 Canton home affordability to other cities.

Canton, Ohio Home Price-to-Income Ratios

The current price-to-income ratio for Canton is 2.09 as determined by March 2014 Realtor median sales prices. The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Canton HPI series. Median household income data for Canton is from the Census American Community Survey.

Price-to-Income Dollar Ratio: Realtor

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Canton, Ohio Home Price-to-Income Ratio History

Date Realtor
(Dollar Ratio)
FHFA
(Index Ratio)
March 2014 2.09
December 2013 94.0
September 2013 94.0
June 2013 92.7
March 2013 90.5
December 2012 91.5
September 2012 92.5
June 2012 90.4

Canton, Ohio Home Price-to-Rent Ratios

The current adjusted price-to-rent ratio for Canton is 13.31 as determined by March 2014 Realtor median sales prices. This ratio is calculated using household size adjusted median contract rent for Canton. The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Canton median contract rent data from the Census ACS.

Price-to-Rent Dollar Ratio: Realtor, Realtor Adjusted Rent

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Canton, Ohio Home Price-to-Rent Ratio History

Date Realtor
(Dollar Ratio)
Realtor Adjusted
(Dollar Ratio)
FHFA
(Index Ratio)
March 2014 14.91 13.31
December 2013 80.4
September 2013 80.4
June 2013 79.3
March 2013 77.4
December 2012 78.3
September 2012 79.2
June 2012 77.3

Canton, Ohio Home Rent-to-Mortgage Payment Ratio

The rent-to-mortgage payment ratio uses the adjusted rent for Canton against a 100% loan-to-value mortgage (30-year fixed) for the median price home using Realtor home sales statistics. It's a lot like a cap rate, but I find it more appealing in ratio form. A ratio of 1.0 means that annual rent is equivalent annual mortgage payments. Values less than 1.0 indicate rents are cheaper and values greater than 1.0 mean mortgage payments are cheaper. Beware, taxes are not considered here. The rent-to-mortgage payment ratio for Canton was 1.26 in March 2014.

Rent-to-Mortgage Payment Dollar Ratio: Realtor

Canton, Ohio Home Rent-to-Mortgage Payment Ratio History

Date Realtor Adjusted Rent
(Dollar Ratio)
March 2014 1.26
December 2013
September 2013
June 2013
March 2013
December 2012
September 2012
June 2012

Canton, Ohio Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Canton, Ohio 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

Canton, Ohio Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $228,124
January 2014 $224,646
December 2013 $223,854
November 2013 $229,211
October 2013 $231,131
September 2013 $223,067
August 2013 $223,854
July 2013 $226,241
June 2013 $234,479
May 2013 $250,160
April 2013 $252,975
March 2013 $249,232
February 2013 $250,470

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.