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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Waco, Texas Home Affordability

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

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

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Waco, Texas Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 123.0
September 2013 124.0
June 2013 120.1
March 2013 120.1
December 2012 120.9
September 2012 120.2
June 2012 120.3
March 2012 118.4

Waco, 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 Waco median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Waco, Texas Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 100.7
September 2013 101.5
June 2013 98.3
March 2013 98.3
December 2012 99.0
September 2012 98.4
June 2012 98.5
March 2012 96.9

Waco, Texas Inferred Affordable Mortgage

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

Waco, Texas Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $205,396
January 2014 $202,264
December 2013 $201,552
November 2013 $206,375
October 2013 $208,103
September 2013 $200,843
August 2013 $201,552
July 2013 $203,701
June 2013 $211,118
May 2013 $225,236
April 2013 $227,771
March 2013 $224,401
February 2013 $225,516

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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