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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Grand Junction, Colorado Home Affordability

The data below measures home affordability for the Grand Junction, Colorado 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 Grand Junction home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Grand Junction, Colorado Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 120.3
September 2013 115.5
June 2013 116.5
March 2013 116.7
December 2012 113.8
September 2012 112.4
June 2012 109.7
March 2012 110.8

Grand Junction, Colorado Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Grand Junction, Colorado Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 106.1
September 2013 101.8
June 2013 102.8
March 2013 102.9
December 2012 100.4
September 2012 99.1
June 2012 96.8
March 2012 97.8

Grand Junction, Colorado Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Grand Junction, Colorado 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

Grand Junction, Colorado Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $231,837
January 2014 $228,302
December 2013 $227,498
November 2013 $232,942
October 2013 $234,893
September 2013 $226,698
August 2013 $227,498
July 2013 $229,924
June 2013 $238,296
May 2013 $254,232
April 2013 $257,093
March 2013 $253,288
February 2013 $254,547

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.