Department of Numbers

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Santa Fe, New Mexico Home Affordability

The data below measures home affordability for the Santa Fe, New Mexico 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 Santa Fe home affordability to other cities.

Santa Fe, New Mexico 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 Santa Fe HPI series. Median household income data for Santa Fe is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Santa Fe, New Mexico Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 136.5
September 2013 131.7
June 2013 132.4
March 2013 131.3
December 2012 131.1
September 2012 130.2
June 2012 129.1
March 2012 133.1

Santa Fe, New Mexico Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Santa Fe, New Mexico Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 121.8
September 2013 117.6
June 2013 118.2
March 2013 117.2
December 2012 117.1
September 2012 116.2
June 2012 115.2
March 2012 118.8

Santa Fe, New Mexico Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Santa Fe, New Mexico 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

Santa Fe, New Mexico Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $256,228
January 2014 $252,320
December 2013 $251,431
November 2013 $257,448
October 2013 $259,605
September 2013 $250,547
August 2013 $251,431
July 2013 $254,113
June 2013 $263,365
May 2013 $280,978
April 2013 $284,140
March 2013 $279,935
February 2013 $281,327

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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