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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Albany, Georgia Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Albany, Georgia Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 119.2
September 2013 121.0
June 2013 123.5
March 2013 121.7
December 2012 121.8
September 2012 122.1
June 2012 120.7
March 2012 120.9

Albany, Georgia Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Albany, Georgia Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 88.6
September 2013 89.9
June 2013 91.7
March 2013 90.4
December 2012 90.4
September 2012 90.7
June 2012 89.6
March 2012 89.8

Albany, Georgia Inferred Affordable Mortgage

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

Albany, Georgia Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $174,131
January 2014 $171,475
December 2013 $170,871
November 2013 $174,960
October 2013 $176,426
September 2013 $170,270
August 2013 $170,871
July 2013 $172,693
June 2013 $178,981
May 2013 $190,951
April 2013 $193,100
March 2013 $190,242
February 2013 $191,188

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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