Department of Numbers

Corvallis, Oregon Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Corvallis, Oregon Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 137.3
September 2011 136.1
June 2011 136.1
March 2011 136.1
December 2010 141.9
September 2010 142.8
June 2010 142.6
March 2010 143.1
December 2009 149.1

Corvallis, Oregon Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Corvallis, Oregon Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 124.7
September 2011 123.6
June 2011 123.5
March 2011 123.6
December 2010 128.9
September 2010 129.7
June 2010 129.5
March 2010 129.9
December 2009 125.0

Corvallis, Oregon Inferred Affordable Mortgage

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

Corvallis, Oregon Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $242,764
December 2011 $241,590
November 2011 $240,715
October 2011 $238,405
September 2011 $237,262
August 2011 $232,771
July 2011 $225,213
June 2011 $226,270
May 2011 $222,862
April 2011 $217,768
March 2011 $217,768
February 2011 $215,041
January 2011 $219,784

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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