Department of Numbers

Sherman, Texas Home Affordability

The data below measures home affordability for the Sherman-Denison, 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 Sherman home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Sherman, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
September 2011 110.3
June 2011 105.6
March 2011 109.7
December 2010 107.6
September 2010 106.3
June 2010 105.9
March 2010 106.4
December 2009 112.3
September 2009 118.7

Sherman, 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 Sherman median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Sherman, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
September 2011 95.5
June 2011 91.5
March 2011 95.0
December 2010 93.2
September 2010 92.1
June 2010 91.7
March 2010 92.1
December 2009 102.4
September 2009 108.2

Sherman, Texas Inferred Affordable Mortgage

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

Sherman, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
November 2011 $238,953
October 2011 $236,660
September 2011 $235,526
August 2011 $231,068
July 2011 $223,565
June 2011 $224,614
May 2011 $221,231
April 2011 $216,174
March 2011 $216,174
February 2011 $213,467
January 2011 $218,176
December 2010 $219,441
November 2010 $230,246

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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