State Mortgage Affordability-Populations Ability to Pay Mortgage
Median Household Income divided by Median Monthly Mortgage Costs
Categories:
| Rank | Region | Median Household Income | ÷ | Median Monthly Mortgage Costs | Result |
|---|---|---|---|---|---|
| 1 | West Virginia | 40,800.00 | ÷ | 797.00 | 51.19 |
| 2 | Wyoming | 48,560.00 | ÷ | 988.00 | 49.15 |
| 3 | Iowa | 49,200.00 | ÷ | 1,008.00 | 48.81 |
| 4 | Idaho | 48,354.00 | ÷ | 996.00 | 48.55 |
| 5 | South Dakota | 46,567.00 | ÷ | 986.00 | 47.23 |
| 6 | Arkansas | 39,452.00 | ÷ | 842.00 | 46.86 |
| 7 | North Dakota | 44,708.00 | ÷ | 972.00 | 46.00 |
| 8 | Utah | 54,853.00 | ÷ | 1,200.00 | 45.71 |
| 9 | Indiana | 47,074.00 | ÷ | 1,031.00 | 45.66 |
| 10 | Oklahoma | 41,578.00 | ÷ | 913.00 | 45.54 |
| 11 | Kansas | 47,671.00 | ÷ | 1,068.00 | 44.64 |
| 12 | Missouri | 45,924.00 | ÷ | 1,029.00 | 44.63 |
| 13 | Nebraska | 49,342.00 | ÷ | 1,107.00 | 44.57 |
| 14 | Alabama | 40,620.00 | ÷ | 913.00 | 44.49 |
| 15 | Delaware | 54,257.00 | ÷ | 1,246.00 | 43.54 |
| 16 | Maine | 47,415.00 | ÷ | 1,093.00 | 43.38 |
| 17 | Minnesota | 57,932.00 | ÷ | 1,351.00 | 42.88 |
| 18 | South Carolina | 42,477.00 | ÷ | 991.00 | 42.86 |
| 19 | Kentucky | 40,029.00 | ÷ | 935.00 | 42.81 |
| 20 | New Mexico | 42,760.00 | ÷ | 1,004.00 | 42.59 |
| 21 | Ohio | 48,151.00 | ÷ | 1,141.00 | 42.20 |
| 22 | Maryland | 65,552.00 | ÷ | 1,561.00 | 41.99 |
| 23 | Mississippi | 36,499.00 | ÷ | 870.00 | 41.95 |
| 24 | Tennessee | 41,521.00 | ÷ | 990.00 | 41.94 |
| 25 | New Hampshire | 65,652.00 | ÷ | 1,566.00 | 41.92 |
| 26 | Montana | 42,963.00 | ÷ | 1,026.00 | 41.87 |
| 27 | Virginia | 58,950.00 | ÷ | 1,411.00 | 41.78 |
| 28 | Louisiana | 39,418.00 | ÷ | 946.00 | 41.67 |
| 29 | Wisconsin | 52,218.00 | ÷ | 1,258.00 | 41.51 |
| 30 | Georgia | 49,692.00 | ÷ | 1,206.00 | 41.20 |
| 31 | Pennsylvania | 49,145.00 | ÷ | 1,196.00 | 41.09 |
| 32 | Colorado | 59,209.00 | ÷ | 1,443.00 | 41.03 |
| 33 | Michigan | 49,699.00 | ÷ | 1,213.00 | 40.97 |
| 34 | Alaska | 60,506.00 | ÷ | 1,477.00 | 40.97 |
| 35 | Vermont | 50,423.00 | ÷ | 1,242.00 | 40.60 |
| 36 | Arizona | 47,598.00 | ÷ | 1,194.00 | 39.86 |
| 37 | Washington | 57,178.00 | ÷ | 1,454.00 | 39.32 |
| 38 | North Carolina | 42,219.00 | ÷ | 1,089.00 | 38.77 |
| 39 | Oregon | 49,331.00 | ÷ | 1,296.00 | 38.06 |
| 40 | Connecticut | 64,158.00 | ÷ | 1,718.00 | 37.34 |
| 41 | Florida | 46,383.00 | ÷ | 1,247.00 | 37.20 |
| 42 | Nevada | 53,912.00 | ÷ | 1,452.00 | 37.13 |
| 43 | Texas | 45,294.00 | ÷ | 1,220.00 | 37.13 |
| 44 | Hawaii | 63,104.00 | ÷ | 1,763.00 | 35.79 |
| 45 | Illinois | 51,279.00 | ÷ | 1,455.00 | 35.24 |
| 46 | Rhode Island | 54,735.00 | ÷ | 1,585.00 | 34.53 |
| 47 | New Jersey | 65,249.00 | ÷ | 1,938.00 | 33.67 |
| 48 | Massachusetts | 57,681.00 | ÷ | 1,781.00 | 32.39 |
| 49 | District of Columbia | 50,318.00 | ÷ | 1,662.00 | 30.28 |
| 50 | New York | 49,267.00 | ÷ | 1,652.00 | 29.82 |
| 51 | California | 56,311.00 | ÷ | 1,912.00 | 29.45 |
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Comments
I have a question about the data used to arrive at median mortgage costs. Since a significant number of properties in New York City are owned in cooperative form, it strikes me that the median mortgage costs may be well below actual costs for the "ownership" population in New York City. My understanding is that about 500,000 properties are 1-, 2-, and 3-family homes; another 100,000 are condominiums; and another 500,000 or so apartments are cooperatives.
I suppose it would be difficult to calculate some of this information for cooperatives since the amount loaned is not really considered a "mortgage" except to the households paying it.
My home of 20+ years will be sold at Trustee's Sale in two weeks, but I'm no longer angry because this ceases to be a country I recognize when the Poor and Middle Class are suffered to bail out the filthy rich. We're headed for a class war of epic proportions, so you'll have to excuse me while I prepare my body for a
PEACEFUL DEATH
http://groups.google.com/group/morteplaceda
A boost in business at http://www.crhome.com would be nice to make our California mortgage more affordable.
The banks are organizing to manage a slew of mortgage relief programs created by a foreclosure practices settlement that was announced last Thursday.
mortgage calculator
It would raise the up-front fees on the mortgage calculator it insures in an effort to shore up its dwindling capital and encourage the return of private lenders into the market.
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oh well, i guess I am doing it great then and I am sure things will get better with it.Thanks much for what you've done and I can always take care of it now. reverse mortgages
Corporate properties couldn't actually have that mush pricing as much the residential areas and so the value of these two types of properties differ significantly. The average must be taken separately for both.
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