Department of Numbers

Lima, Ohio Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lima, Ohio Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 117.9
September 2011 117.7
June 2011 116.9
March 2011 116.9
December 2010 119.7
September 2010 120.1
June 2010 118.1
March 2010 115.4
December 2009 127.6

Lima, Ohio Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lima, Ohio Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 97.6
September 2011 97.4
June 2011 96.8
March 2011 96.8
December 2010 99.1
September 2010 99.5
June 2010 97.8
March 2010 95.5
December 2009 98.9

Lima, Ohio Inferred Affordable Mortgage

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

Lima, Ohio Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $217,088
December 2011 $216,038
November 2011 $215,256
October 2011 $213,190
September 2011 $212,168
August 2011 $208,152
July 2011 $201,393
June 2011 $202,339
May 2011 $199,291
April 2011 $194,735
March 2011 $194,735
February 2011 $192,297
January 2011 $196,538

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. ↩

Data on deptofnumbers.com is for informational purposes only. No warranty or guarantee of accuracy is offered or implied. Contact ben@deptofnumbers.com (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions. Privacy policy.