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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Kalamazoo, Michigan Home Affordability

The data below measures home affordability for the Kalamazoo-Portage, Michigan 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 Kalamazoo home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Kalamazoo, Michigan Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 107.3
September 2013 105.4
June 2013 104.2
March 2013 103.8
December 2012 103.5
September 2012 104.3
June 2012 101.2
March 2012 101.8

Kalamazoo, Michigan Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Kalamazoo, Michigan Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 90.4
September 2013 88.8
June 2013 87.9
March 2013 87.5
December 2012 87.3
September 2012 87.9
June 2012 85.3
March 2012 85.8

Kalamazoo, Michigan Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Kalamazoo, Michigan 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

Kalamazoo, Michigan Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $223,926
January 2014 $220,512
December 2013 $219,735
November 2013 $224,993
October 2013 $226,878
September 2013 $218,962
August 2013 $219,735
July 2013 $222,078
June 2013 $230,164
May 2013 $245,556
April 2013 $248,320
March 2013 $244,645
February 2013 $245,861

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.