Department of Numbers

Jackson, Tennessee Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Jackson, Tennessee Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 104.7
September 2011 104.4
June 2011 101.4
March 2011 104.7
December 2010 105.6
September 2010 107.3
June 2010 107.8
March 2010 104.7
December 2009 110.9

Jackson, Tennessee Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Jackson, Tennessee Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 89.9
September 2011 89.7
June 2011 87.1
March 2011 90.0
December 2010 90.7
September 2010 92.2
June 2010 92.6
March 2010 90.0
December 2009 96.1

Jackson, Tennessee Inferred Affordable Mortgage

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

Jackson, Tennessee Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $213,952
December 2011 $212,918
November 2011 $212,147
October 2011 $210,111
September 2011 $209,103
August 2011 $205,146
July 2011 $198,485
June 2011 $199,416
May 2011 $196,412
April 2011 $191,923
March 2011 $191,923
February 2011 $189,519
January 2011 $193,700

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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