Department of Numbers

Harrisburg, Pennsylvania Home Affordability

The data below measures home affordability for the Harrisburg-Carlisle, Pennsylvania 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 Harrisburg home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Harrisburg, Pennsylvania Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2012 112.5
September 2012 112.3
June 2012 112.6
March 2012 113.4
December 2011 113.4
September 2011 113.6
June 2011 113.0
March 2011 114.6
December 2010 118.7

Harrisburg, Pennsylvania Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Harrisburg, Pennsylvania Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2012 98.8
September 2012 98.7
June 2012 98.9
March 2012 99.7
December 2011 99.6
September 2011 99.8
June 2011 99.2
March 2011 100.7
December 2010 104.0

Harrisburg, Pennsylvania Inferred Affordable Mortgage

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

Harrisburg, Pennsylvania Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2013 $311,810
December 2012 $314,160
November 2012 $314,160
October 2012 $312,982
September 2012 $308,332
August 2012 $304,534
July 2012 $306,424
June 2012 $301,544
May 2012 $297,140
April 2012 $293,186
March 2012 $291,768
February 2012 $293,900
January 2012 $292,831

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.