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Map Name: Housing Affordability Index
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Description: This thematic map presents the Esri Housing Affordability Index (HAI) for the United States.
Esri takes the same approach as the National Association of Realtors by building a housing affordability index as the financial ability of a typical household to purchase an existing home in an area. The index assumes the national average contract mortgage rate, which is estimated via survey by the Federal Housing Finance Agency. This rate represents a composite of fixed and adjustable mortgages for loan payment schedules on previously occupied nonfarm single-family homes. The rate reflects a down payment on a home loan of 20 percent of the home price; therefore, mortgage interest is assumed to be zero. Regional property tax rates are determined from the 2008 American Community Survey. Esri’s model follows the Federal Housing Administration’s guidelines for debt service ratios.
An HAI of 100 represents an area that on average has sufficient household income to qualify for a loan on a home valued at the median home price for the area. An index greater than 100 suggests homes are easily afforded by the average area resident. HAI less than 100 implies that homes are less affordable. In these areas, home buyers are likely to place a larger down payment or service high interest rate loans. In other words, homeowners would be stretching their income further, putting them at greater risk of default.
The 2010 Housing Affordability Index reflects Esri’s estimates for July 1, 2010.
The geography depicts states at greater than 25m scale, counties at 1m to 25m scale, Census Tracts at 250k to 1m scale, and Census Block Groups at less than 250k scale. The map has been designed to be displayed with semi-transparency of about 50% for overlay on other base maps, which is reflected in the legend for the map.
Copyright Text: Copyright:© 2010 ESRI
Spatial Reference: 3857
Single Fused Map Cache: false
Intial Extent:
XMin: -8560484.68497356
YMin: 4834059.99074871
XMax: -8384024.58732032
YMax: 4921032.60420013
Spatial Reference: 3857
Full Extent:
XMin: -20037508.2314698
YMin: 557305.257274575
XMax: -6679169.44759641
YMax: 11753184.6153385
Spatial Reference: 3857
Units: esriMeters
Supported Image Format Types: PNG32,PNG24,PNG,JPG,DIB,TIFF,EMF,PS,PDF,GIF,SVG,SVGZ,BMP
Document Info:
- Title: USA Housing Affordibility
- Author: ESRI
- Comments: This thematic map presents the Esri Housing Affordability Index (HAI) for the United States.
Esri takes the same approach as the National Association of Realtors by building a housing affordability index as the financial ability of a typical household to purchase an existing home in an area. The index assumes the national average contract mortgage rate, which is estimated via survey by the Federal Housing Finance Agency. This rate represents a composite of fixed and adjustable mortgages for loan payment schedules on previously occupied nonfarm single-family homes. The rate reflects a down payment on a home loan of 20 percent of the home price; therefore, mortgage interest is assumed to be zero. Regional property tax rates are determined from the 2008 American Community Survey. Esri’s model follows the Federal Housing Administration’s guidelines for debt service ratios.
An HAI of 100 represents an area that on average has sufficient household income to qualify for a loan on a home valued at the median home price for the area. An index greater than 100 suggests homes are easily afforded by the average area resident. HAI less than 100 implies that homes are less affordable. In these areas, home buyers are likely to place a larger down payment or service high interest rate loans. In other words, homeowners would be stretching their income further, putting them at greater risk of default.
The 2010 Housing Affordability Index reflects Esri’s estimates for July 1, 2010.
The geography depicts states at greater than 25m scale, counties at 1m to 25m scale, Census Tracts at 250k to 1m scale, and Census Block Groups at less than 250k scale. The map has been designed to be displayed with semi-transparency of about 50% for overlay on other base maps, which is reflected in the legend for the map.
- Subject: This thematic map presents the Esri Housing Affordability Index for the United States.
- Category:
- Keywords: United States, 2010, housing, affordability, income, mortgage, net worth, home value, home prices
- Credits: Copyright:© 2010 ESRI
- AntialiasingMode: Best
- TextAntialiasingMode: Force
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