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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Bangor, Maine Home Affordability

The data below measures home affordability for the Bangor, Maine 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 Bangor home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Bangor, Maine Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 131.7
September 2013 130.9
June 2013 134.5
March 2013 134.9
December 2012 135.3
September 2012 130.3
June 2012 129.5
March 2012 137.6

Bangor, Maine Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Bangor, Maine Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 100.0
September 2013 99.3
June 2013 102.1
March 2013 102.4
December 2012 102.7
September 2012 98.9
June 2012 98.3
March 2012 104.4

Bangor, Maine Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Bangor, Maine 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

Bangor, Maine Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $210,423
January 2014 $207,214
December 2013 $206,484
November 2013 $211,425
October 2013 $213,196
September 2013 $205,758
August 2013 $206,484
July 2013 $208,686
June 2013 $216,284
May 2013 $230,748
April 2013 $233,345
March 2013 $229,892
February 2013 $231,035

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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