Homeownership Affordability Metrics

Dashboard Glossary

Median: The middle number in an ascending list of values. Half the numbers are higher than the median, and half are lower.
Area Median Income (AMI): The total household income of the middle household, when all household incomes in the area are ordered from smallest to largest. Half of households earn more than this amount and half earn less. The area of an AMI can refer to the entire state, a county, a town, or other geographic region.
House Price: The sale price that a buyer pays for a home. This is different from the “list price,” which is what the seller originally asked for the house.
Median House Price: The House Price of the median house sold within a geographic area during a given year.
Annual Housing Expenses: These include the total annual mortgage payment plus utilities, taxes, homeowner’s insurance, and mortgage insurance. These are estimated regionally and are based on the House Price.
Household Income: The total earnings of all members of a household in a given year.
Affordable: Housing is considered Affordable if the total Annual Housing Expenses are 30% or less of AMI.
Affordability Index: This compares the House Price that is Affordable to the local Median House Price. If the index is greater than 1, houses are unaffordable. If the index is less than or equal to 1, houses are affordable.
Relative Change: The difference between a new value and an old value, divided by the old value and represented as a percentage.
Utility Allowance Region: One of seven geographic areas in Maine, grouped based on similar utility costs and weather patterns. These regions inform fair housing costs for rental assistance programs and estimated Annual Housing Expense given a house’s region. For a full list of towns by Utility Allowance Region, click here.
Congressional District: One of two geographic areas in Maine with roughly equivalent populations, identified for electoral purposes. For a full list of towns by Congressional District, click here.