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((Median Sales Price of Houses Sold for the United States * (30-Year Fixed Rate Mortgage Average in the United States / 1200) * ((1 + 30-Year Fixed Rate Mortgage Average in the United States / 1200)^360)) / (((1 + 30-Year Fixed Rate Mortgage Average in the United States / 1200)^360) - 1)) / Median Household Income in the United States


NOTES

Source: U.S. Census Bureau  

Release: Income and Poverty in the United States  

Units:  Current Dollars, Not Seasonally Adjusted

Frequency:  Annual

Notes:

People 15 years old and over beginning with March 1980, and people 14 years old and over as of March of the following year for previous years.

Suggested Citation:

U.S. Census Bureau, Median Personal Income in the United States [MEPAINUSA646N], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MEPAINUSA646N, June 7, 2024.

Source: U.S. Census Bureau  

Source: U.S. Department of Housing and Urban Development  

Release: New Residential Sales  

Units:  Dollars, Not Seasonally Adjusted

Frequency:  Quarterly

Suggested Citation:

U.S. Census Bureau and U.S. Department of Housing and Urban Development, Median Sales Price of Houses Sold for the United States [MSPUS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MSPUS, June 7, 2024.

Source: Freddie Mac  

Release: Primary Mortgage Market Survey  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Weekly, Ending Thursday

Notes:

On November 17, 2022, Freddie Mac changed the methodology of the Primary Mortgage Market Survey® (PMMS®). The weekly mortgage rate is now based on applications submitted to Freddie Mac from lenders across the country. For more information regarding Freddie Mac’s enhancement, see their research note.

Data are provided “as is” by Freddie Mac®, with no warranties of any kind, express or implied, including but not limited to warranties of accuracy or implied warranties of merchantability or fitness for a particular purpose. Use of the data is at the user’s sole risk. In no event will Freddie Mac be liable for any damages arising out of or related to the data, including but not limited to direct, indirect, incidental, special, consequential, or punitive damages, whether under a contract, tort, or any other theory of liability, even if Freddie Mac is aware of the possibility of such damages.

Copyright, 2016, Freddie Mac. Reprinted with permission.

Suggested Citation:

Freddie Mac, 30-Year Fixed Rate Mortgage Average in the United States [MORTGAGE30US], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MORTGAGE30US, June 7, 2024.

Source: U.S. Census Bureau  

Release: Income and Poverty in the United States  

Units:  Current Dollars, Not Seasonally Adjusted

Frequency:  Annual

Notes:

Household data are collected as of March.

As stated in the Census's "Source and Accuracy of Estimates for Income, Poverty, and Health Insurance Coverage in the United States: 2011" (http://www.census.gov/hhes/www/p60_243sa.pdf):

Estimation of Median Incomes. The Census Bureau has changed the methodology for computing median income over time. The Census Bureau has computed medians using either Pareto interpolation or linear interpolation. Currently, we are using linear interpolation to estimate all medians. Pareto interpolation assumes a decreasing density of population within an income interval, whereas linear interpolation assumes a constant density of population within an income interval. The Census Bureau calculated estimates of median income and associated standard errors for 1979 through 1987 using Pareto interpolation if the estimate was larger than $20,000 for people or $40,000 for families and households. This is because the width of the income interval containing the estimate is greater than $2,500.

We calculated estimates of median income and associated standard errors for 1976, 1977, and 1978 using Pareto interpolation if the estimate was larger than $12,000 for people or $18,000 for families and households. This is because the width of the income interval containing the estimate is greater than $1,000. All other estimates of median income and associated standard errors for 1976 through 2011 (2012 ASEC) and almost all of the estimates of median income and associated standard errors for 1975 and earlier were calculated using linear interpolation.

Thus, use caution when comparing median incomes above $12,000 for people or $18,000 for families and households for different years. Median incomes below those levels are more comparable from year to year since they have always been calculated using linear interpolation. For an indication of the comparability of medians calculated using Pareto interpolation with medians calculated using linear interpolation, see Series P-60, Number 114, Money Income in 1976 of Families and Persons in the United States (www2.census.gov/prod2/popscan/p60-114.pdf).

Suggested Citation:

U.S. Census Bureau, Median Household Income in the United States [MEHOINUSA646N], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MEHOINUSA646N, June 7, 2024.

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