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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Lima, Ohio Home Affordability

The data below measures home affordability for the Lima, Ohio 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 Lima home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lima, Ohio Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 113.6
September 2013 112.9
June 2013 113.2
March 2013 112.2
December 2012 114.8
September 2012 115.4
June 2012 114.1
March 2012 112.9

Lima, Ohio Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lima, Ohio Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 89.0
September 2013 88.4
June 2013 88.7
March 2013 87.9
December 2012 89.9
September 2012 90.4
June 2012 89.4
March 2012 88.4

Lima, Ohio Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Lima, Ohio 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

Lima, Ohio Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $210,807
January 2014 $207,592
December 2013 $206,861
November 2013 $211,811
October 2013 $213,585
September 2013 $206,133
August 2013 $206,861
July 2013 $209,067
June 2013 $216,679
May 2013 $231,169
April 2013 $233,771
March 2013 $230,312
February 2013 $231,456

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.