Department of Numbers

McAllen, Texas Home Affordability

The data below measures home affordability for the McAllen-Edinburg-Mission, Texas 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 McAllen home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

McAllen, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 100.1
June 2011 97.3
March 2011 97.9
December 2010 98.4
September 2010 99.2
June 2010 99.8
March 2010 97.4
December 2009 112.0
September 2009 112.1

McAllen, Texas Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

McAllen, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 95.0
June 2011 92.4
March 2011 92.9
December 2010 93.4
September 2010 94.1
June 2010 94.7
March 2010 92.4
December 2009 101.8
September 2009 101.9

McAllen, Texas Inferred Affordable Mortgage

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

McAllen, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $176,852
October 2011 $175,154
September 2011 $174,315
August 2011 $171,016
July 2011 $165,463
June 2011 $166,239
May 2011 $163,735
April 2011 $159,992
March 2011 $159,992
February 2011 $157,989
January 2011 $161,474
December 2010 $162,410
November 2010 $170,407

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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