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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Fort Smith, Arkansas Home Affordability

The data below measures home affordability for the Fort Smith, Arkansas 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 Fort Smith home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Fort Smith, Arkansas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 121.0
September 2013 122.2
June 2013 123.9
March 2013 123.3
December 2012 123.4
September 2012 123.4
June 2012 122.0
March 2012 122.7

Fort Smith, Arkansas Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Fort Smith, Arkansas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 98.0
September 2013 98.9
June 2013 100.3
March 2013 99.8
December 2012 99.9
September 2012 99.9
June 2012 98.8
March 2012 99.4

Fort Smith, Arkansas Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Fort Smith, Arkansas 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

Fort Smith, Arkansas Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $182,173
January 2014 $179,395
December 2013 $178,763
November 2013 $183,041
October 2013 $184,574
September 2013 $178,134
August 2013 $178,763
July 2013 $180,669
June 2013 $187,248
May 2013 $199,770
April 2013 $202,018
March 2013 $199,029
February 2013 $200,018

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.