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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Kokomo, Indiana Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Kokomo, Indiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 111.0
September 2013 109.5
June 2013 109.7
March 2013 107.7
December 2012 107.7
September 2012 107.1
June 2012 105.2
March 2012 105.2

Kokomo, Indiana Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Kokomo, Indiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 86.9
September 2013 85.7
June 2013 85.8
March 2013 84.3
December 2012 84.3
September 2012 83.8
June 2012 82.3
March 2012 82.3

Kokomo, Indiana Inferred Affordable Mortgage

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

Kokomo, Indiana Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $201,491
January 2014 $198,419
December 2013 $197,720
November 2013 $202,451
October 2013 $204,147
September 2013 $197,024
August 2013 $197,720
July 2013 $199,828
June 2013 $207,104
May 2013 $220,954
April 2013 $223,441
March 2013 $220,134
February 2013 $221,228

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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