Is It Time To Buy A Home?: “Home Price-To-Rent Ratio” Indicator Shows It Is A Favorable Time To Purchase A Home In Most Areas But Housing Prices Still High Compared To Historical Levels

18 04 2011

 

http://renovationlendinginstitute.com/

  • The price-to-rent ratio is the cost of the median home divided by a year’s median rent
  • When the ratio is under 20, buying may make more sense than renting
  • The ratio has consistently been higher in some places and lower in others
  • A ratio that’s still higher than historic norms suggests prices may have further to fall

Metropolitan area

Peak of
the bubble
(Q1 2006)

Current
(Q4 2010)

Long-term
average
(1989-2003)
U.S. 18.46 11.34 9.56
Atlanta,GA 19.04 14.69 13.42
Austin,TX 20.00 22.44 15.79
Boston,MA 22.98 18.72 15.37
Baltimore,MD 21.05 15.55 11.30
Charlotte,NC 22.67 21.75 16.17
Chicago,IL 23.39 15.23 16.19
Cincinnati,OH 18.00 15.30 14.58
Cleveland,OH 16.19 13.13 13.24
Columbus,OH 20.88 17.17 15.68
Dallas-Fort Worth,TX 16.89 16.46 15.58
Denver,CO 25.34 20.93 16.30
Detroit,MI 18.37 9.94 13.42
East Bay,CA 53.49 30.36 29.08
Fort Lauderdale,FL 28.70 15.43 13.36
Hartford,CT 20.48 18.59 13.51
Honolulu,HI 36.69 33.16 23.02
Houston,TX 15.94 16.83 13.34
Indianapolis,IN 16.73 16.24 13.78
Inland Empire,CA 29.07 13.66 16.60
Jacksonville,CA 21.43 13.88 12.12
Kansas City,MO 17.88 16.48 13.62
Las Vegas,NV 30.62 13.30 14.96
Long Island,NY 24.91 19.75 12.08
Los Angeles,CA 26.41 15.96 12.57
Memphis,TN 19.38 15.64 15.75
Miami,FL 30.11 15.28 12.19
Milwaukee,WI 23.78 20.82 15.03
Minneapolis,MN 21.69 14.05 13.48
Nashville,TN 23.71 22.19 16.99
New Orleans,LA 22.14 16.49 13.16
New York,NY 18.64 14.07 9.42
Norfolk,VA 24.65 21.71 16.52
North -Central New Jersey 30.63 23.11 17.46
Oklahoma City,OK 13.53 14.26 11.33
Orange County,CA 44.00 28.69 20.54
Orlando,FL 24.52 12.02 12.49
Palm Beach County,FL 27.80 13.38 13.06
Philadelphia,PA 17.00 13.38 9.94
Phoenix,AZ 26.36 12.06 12.07
Pittsburgh,PA 11.94 11.64 9.85
Portland,OR 32.07 24.17 17.36
Raleigh,NC 22.17 22.85 16.79
Richmond,VA 22.77 21.29 14.93
Sacramento,CA 30.28 14.99 15.59
Salt Lake City,UT 20.30 19.24 14.53
San Antonio,TX 15.14 16.47 12.63
San Diego,CA 36.66 22.55 18.18
San Francisco,CA 43.15 29.32 24.41
San Jose,CA 46.43 29.95 23.33
Seattle,WA 30.16 22.69 16.84
Bridgeport,CT 24.85 20.57 14.92
St. Louis,MO 17.78 15.92 13.02
Tampa,FL 25.21 13.37 13.31
Washington- Northern Virginia -Maryland 27.41 17.35 13.00

Source: Fiserv, Federal Housing Finance Agency, Property Portfolio Research, Moody’s Analytics


Comments : Leave a Comment »
Tags: , , , ,
Categories : Federal Government, Financing, First-Time Homebuyer, Foreclosures, Home Sales, Homes, Housing Market, Mortgage Industry, National Public Radio, Purchases

“FundMyRemodel.com” Housing Design Update: NPR Airs “In Japan, Living Large In Really Tiny Houses”

2 09 2010

CLICK ON RADIO TO HEAR NPR'S: "In Japan, Living Large In Really Tiny Houses"

The Japanese have long endured crowded cities and scarce living space, with homes so humble a scornful European official once branded them rabbit hutches.

But in recent years, Japanese architects have turned necessity into virtue, vying to design unorthodox and visually stunning houses on remarkably narrow pieces of land. In the process, they are also redefining the rules of home design.


Comments : Leave a Comment »
Tags: , , , ,
Categories : Contractors, Design, Green Homes, Magazine, National Public Radio, New Homes, Radio Shows

“FundMyRemodel.com” Mortgage Lending Update: NPR Airs “Careful Lending Benefits Canada’s Housing Market”

1 09 2010

CLICK ON RADIO TO HEAR NPR'S: "Careful Lending Benefits Canada's Housing Market"

While the housing market in the U.S. is moribund, it’s healthy in Canada. In one respect Canada got lucky, but it also had a very different approach to mortgage finance.


Comments : Leave a Comment »
Tags: , , ,
Categories : Federal Government, Financing, Magazine, Mortgage Industry, National Public Radio, Radio Shows

“Fund My Remodel” Radio: “How Wall Street Made The Crisis Worse” From NPR Describes How The Housing Crisis Was Made Worse (Audio)

27 08 2010

CLICK ON RADIO TO HEAR NPR's: "How Wall Street Made The Crisis Worse"


Comments : Leave a Comment »
Tags: , ,
Categories : Financing, National Public Radio, Refinance, Underwriting

Renewable Energy In California: NPR Airs “Big Solar Struggles To Find Home In California” (Audio)

20 08 2010

CLICK ON RADIO TO HEAR "Big Solar' Struggles To Find Home In California"

California Gov. Arnold Schwarzenegger has set an ambitious plan that requires a third of the state’s electricity to come from renewable sources by 2020. But a fight over where to build large clean-energy projects is slowing the green revolution.

For more:  http://www.npr.org/templates/story/story.php?storyId=129129794


Comments : Leave a Comment »
Tags: , ,
Categories : Energy Efficient Improvements, Energy Star, Green Homes, National Public Radio, Solar, State Government

Where To Find The Best Mortgage Rates?: National Public Radio (NPR) Airs Show Titled “Shop Lenders For Best Mortgage Refinancing Deal” (Audio)

18 08 2010

CLICK ON RADIO ABOVE FOR NPR'S "Shop Lenders For Best Mortgage Refinancing Deal"

“…On average, what we saw in our research was that rates were lower at the regional lenders and independent mortgage brokers than they were at the top three lenders…” 

Jessica Silver-Greenberg of The Wall Street Journal


Comments : Leave a Comment »
Tags: , , ,
Categories : Financing, National Public Radio, Radio Shows, Rates, Refinance


Follow

Get every new post delivered to your Inbox.