Home Price to Household Income Ratio: New Single Family Homes, Married with Children Households [OC]
September 18, 2024
Home Price to Household Income Ratio: New Single Family Homes, Married with Children Households [OC]
Posted by xellotron
10 comments
Source for New Single Family Home Prices: [Median Sales Price of Houses Sold for the United States (MSPUS) | FRED | St. Louis Fed (stlouisfed.org)](https://fred.stlouisfed.org/series/MSPUS)
This is saying home prices haven’t really gone up much compared to income from 10 years ago?
This can’t be accurate, at least where I live, where median income ($130K) is 1/10 median house price ($1.3M) (house of any age). Where is this accurate, because I need to move there.
I have only seen visualizations of home prices as a ratio of median household income for all household types, which includes single people, elderly, widows, students, etc. I thought it would be interesting to show home prices as a ratio of married with children families – what one could describe as the most likely buyer for a single family home (as compared to single-adult households which may be more likely to purchase or rent apartments or townhomes). The difference in income between all households and married with children households is significant – $81k vs $131k. In showing the data this way, you can see that for married with children households, home prices are not dramatically different today than they have been over the last 24 years.
Bad looking excel bar chart. Hire a data viz specialist for gods sakes
That tracks, if I could afford a home I would also have gotten married and had kids.
Then add another line for daycare expenses.
Median over the last 25 years would be interesting. People would faint if price were at about average over the last generation b/c that’s not the story they tell themselves
Ah, 2008. What a year, amirite?
There is a reason I traded up in 2012 and moved to one of those walkable city neighborhoods. I could see it was an opportunity.
I did it in Minneapolis but looking back it was a chance to get into a more expensive city haha….but I didn’t really have the income. I probably could have stretched for a few cities but I’m not much of a risk taker.
10 comments
Source for New Single Family Home Prices: [Median Sales Price of Houses Sold for the United States (MSPUS) | FRED | St. Louis Fed (stlouisfed.org)](https://fred.stlouisfed.org/series/MSPUS)
Source for Household Income – Married with Children Under 18 Households: [Household Income: HINC-04 (census.gov)](https://www.census.gov/data/tables/time-series/demo/income-poverty/cps-hinc/hinc-04.html). 2024 estimated using: [Wage Growth Tracker – Federal Reserve Bank of Atlanta (atlantafed.org)](https://www.atlantafed.org/chcs/wage-growth-tracker)
Tools: Excel.
This is saying home prices haven’t really gone up much compared to income from 10 years ago?
This can’t be accurate, at least where I live, where median income ($130K) is 1/10 median house price ($1.3M) (house of any age). Where is this accurate, because I need to move there.
I have only seen visualizations of home prices as a ratio of median household income for all household types, which includes single people, elderly, widows, students, etc. I thought it would be interesting to show home prices as a ratio of married with children families – what one could describe as the most likely buyer for a single family home (as compared to single-adult households which may be more likely to purchase or rent apartments or townhomes). The difference in income between all households and married with children households is significant – $81k vs $131k. In showing the data this way, you can see that for married with children households, home prices are not dramatically different today than they have been over the last 24 years.
Bad looking excel bar chart. Hire a data viz specialist for gods sakes
That tracks, if I could afford a home I would also have gotten married and had kids.
Then add another line for daycare expenses.
Median over the last 25 years would be interesting. People would faint if price were at about average over the last generation b/c that’s not the story they tell themselves
Ah, 2008. What a year, amirite?
There is a reason I traded up in 2012 and moved to one of those walkable city neighborhoods. I could see it was an opportunity.
I did it in Minneapolis but looking back it was a chance to get into a more expensive city haha….but I didn’t really have the income. I probably could have stretched for a few cities but I’m not much of a risk taker.