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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Lubbock, Texas Home Affordability

The data below measures home affordability for the Lubbock, Texas 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 Lubbock home affordability to other cities.

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lubbock, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 112.3
September 2013 109.4
June 2013 109.5
March 2013 107.3
December 2012 108.4
September 2012 106.8
June 2012 107.2
March 2012 106.2

Lubbock, Texas Home Price-to-Rent Ratios

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

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lubbock, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 100.5
September 2013 97.8
June 2013 97.9
March 2013 96.0
December 2012 96.9
September 2012 95.5
June 2012 95.9
March 2012 95.0

Lubbock, Texas Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Lubbock, Texas 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

Lubbock, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $210,494
January 2014 $207,284
December 2013 $206,553
November 2013 $211,496
October 2013 $213,268
September 2013 $205,827
August 2013 $206,553
July 2013 $208,756
June 2013 $216,357
May 2013 $230,826
April 2013 $233,424
March 2013 $229,970
February 2013 $231,113

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.