US Housing Prices & Personal Income in 2023Q3

By Raulin Cadet | Published Feb. 12, 2024 | Updated Feb. 12, 2024 | Topics: USA, Income, Personal income, US states, House price

A previous post has presented the per capita personal income by states. This one compare that indicator with the house price index by states. What could this comparison reveals?

Definition: According to Federal Housing Finance Agency, house price index (HPI) "is a broad measure of the movement of single-family house prices." The HPI used for this article considers considers only purchased houses and does not include refinancing. This index is as an indicator of the housing market price.

In addition to having the highest per capita personal income, the graphic in this article shows that Whashington, D.C.'s house price index is among the highest. However, most of the states in the Southern region, where Washington, D.C. is located, have per capita personal income and House Price Index lower than the respective means of these indicators. The Western region has the highest House Price Index. In fact, among the 16 states with an HPI higher than the mean, 8 are from the West.