Why This is Important
The relative wealth of homebuyers in neighborhoods can help express neighborhood changes over time, answering questions about gentrification and who real estate development serves. Home Mortgage Disclosure Act (HMDA) data is one of the only reliable sources of lending patterns at the neighborhood level. Along with understanding the socioeconomic character of borrowers (seen here), it reports whether a mortgage is originated, its value, and whether it is for investment or owner-occupancy.
About the Data
Median homebuyer income is reported here in annual nominal dollar values and are therefore comparable to the dollar values reported in median household income and median home price. Records included in this analysis are for originated, owner-occupant mortgages only. Starting with this update (April 2023), prior years of data have been revised to incorporate updates from the Consumer Financial Protection Bureau. The CFPB receives late reporting from lending institutions and revises data retrospectively. Prior Compass updates of this variable continually incorporated each new year’s release.
Source: Home Mortgage Disclosure Act Database, Consumer Financial Protection Bureau.
Additional Resources
| Resource | Learn More and Take Action |
|---|---|
| Consumer Financial Protection Bureau | Use data, learn about borrowing, or make a complaint about unfair lending practices. |
| Home Mortgage Disclosure Act (HMDA) | The Home Mortgage Disclosure Act (HMDA) requires many financial institutions to maintain, report, and publicly disclose loan-level information about mortgages. |
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Data Distribution, 2022
Median Homebuyer Income
