Department of Numbers

Waco, Texas Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Waco, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 125.0
September 2011 122.8
June 2011 122.9
March 2011 123.0
December 2010 124.7
September 2010 122.6
June 2010 123.3
March 2010 118.2
December 2009 123.3

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Waco, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 104.1
September 2011 102.2
June 2011 102.2
March 2011 102.4
December 2010 103.8
September 2010 102.0
June 2010 102.7
March 2010 98.3
December 2009 106.5

Waco, Texas Inferred Affordable Mortgage

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

Waco, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $206,967
December 2011 $205,967
November 2011 $205,221
October 2011 $203,251
September 2011 $202,277
August 2011 $198,449
July 2011 $192,005
June 2011 $192,906
May 2011 $190,000
April 2011 $185,657
March 2011 $185,657
February 2011 $183,332
January 2011 $187,376

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. ↩

Data on deptofnumbers.com is for informational purposes only. No warranty or guarantee of accuracy is offered or implied. Contact ben@deptofnumbers.com (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions. Privacy policy.