Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Gadsden, Alabama Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Gadsden, Alabama Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 125.3
September 2013 126.5
June 2013 126.7
March 2013 130.2
December 2012 124.7
September 2012 127.4
June 2012 125.6
March 2012 126.0

Gadsden, Alabama Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Gadsden, Alabama Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 96.9
September 2013 97.8
June 2013 98.0
March 2013 100.7
December 2012 96.5
September 2012 98.5
June 2012 97.2
March 2012 97.5

Gadsden, Alabama Inferred Affordable Mortgage

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

Gadsden, Alabama Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $173,095
January 2014 $170,455
December 2013 $169,855
November 2013 $173,919
October 2013 $175,376
September 2013 $169,258
August 2013 $169,855
July 2013 $171,666
June 2013 $177,917
May 2013 $189,815
April 2013 $191,951
March 2013 $189,111
February 2013 $190,051

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.