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This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Wyoming Home Affordability

The data below quantifies Wyoming home affordability by using home prices and home price indices to calculate price-to-income and price-to-rent ratios.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Wyoming home affordability to other states.

Wyoming Home Price-to-Income Ratios

The home price-to-income ratio for Wyoming comes from the Federal Housing Finance Agency's relatively new state median price series and their purchase only index combined with Wyoming annual median household income data. The FHFA home price series yields a dollar ratio (top chart) while the index results in an index ratio (bottom chart). Based on the latest FHFA state home prices in June 2010, the price-to-income ratio for Wyoming was 3.50.

Home Price-to-Income Dollar Ratio: FHFA

Chart of Wyoming home price-to-income ratio using FHFA median price

Home Price-to-Income Index Ratio: FHFA

Chart of Wyoming home price-to-income ratio using FHFA HPI

Note: Index set to 100 in Q1 of 2000

Wyoming Home Price-to-Income Ratio History

(Dollar Ratio)
(Index Ratio)
December 2013
September 2013
June 2013
March 2013
December 2012
September 2012
June 2012
March 2012
December 2011
September 2011

Wyoming Home Price-to-Rent Ratios

The price-to-rent ratio for Wyoming is determined for both the FHFA median price and the purchase only index by calculating a ratio with the median contract rent. The price-to-adjusted rent value takes into account CPS reported household size to attempt to correct for quality differences in renter and owner occupied homes. More on that process here. Again, the median price ratio is a dollar ratio and the HPI ratio is an index ratio defined to be 100 in Q1 2000. The adjusted price-to-rent ratio for Wyoming was 25.40 in June 2010.

Home Price-to-Rent Dollar Ratio: FHFA, FHFA Adjusted Rent

Chart of Wyoming home price-to-rent ratio using FHFA median price

Home Price-to-Rent Index Ratio: FHFA

Chart of Wyoming home price-to-rent ratio using FHFA HPI

Note: Index set to 100 in Q1 of 2000

Wyoming Home Price-to-Rent Ratio History

(Dollar Ratio)
FHFA Adjusted
(Dollar Ratio)
(Index Ratio)
December 2013 111.3
September 2013 109.6
June 2013 107.7
March 2013 105.6
December 2012 107.8
September 2012 106.8
June 2012 104.9
March 2012 103.2
December 2011 101.0

Wyoming Inferred Affordable Mortgage

The inferred affordable mortgage is determined by taking the median household income for Wyoming 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 median household income and average monthly mortgage rates. The amounts are not adjusted for inflation.

Inferred Affordable Mortgage

Chart of Wyoming maximum affordable home loan amount

Wyoming Inferred Affordable Mortgage History

Date Inferred Mortgage
December 2010 $252,094
November 2010 $264,508
October 2010 $266,718
September 2010 $262,945
August 2010 $260,474
July 2010 $256,532
June 2010 $251,221
May 2010 $246,920
April 2010 $241,085
March 2010 $244,672
February 2010 $244,115
January 2010 $243,007
December 2009 $246,314

1. Specifically, Home prices are from the FHFA seasonally adjusted, purchase only quarterly series. Rent data is from the Census ACS and income is from the Census CPS. Rent and income data for the previous year is carried into the following year for calculations prior to release of new data.