Affordability slipped in Q1 2022, according to ATTOM’s most recent US Home Affordability Report.
Median-Priced Single-Family Homes Less Affordable in 79% of US Counties
Median priced single-family homes were less affordable in 79% of US counties in Q1 2022. This 79% compares to just 38% of counties that were historically less affordable in Q1 2021.
Are you ready to learn what your DISC personality style is? You know it’s critical that you understand what your natural personality style is. Once you have obtained this knowledge everything in your business and personal life will change for the better. Tim and Julie Harris are making it super simple for you to have this powerful info. Now, text the word YOU to 47372, and when you do you will instantly receive a special exclusive text link. Next, you will complete your own DISC personality test.. the results will be shared with you instantly once you complete the simple and fun test, no strings attached. Simply text the word YOU to 47372 and click the link.
P.S. (Limited time: no charge to take the complete test)
* 4 Msgs/Month. Reply STOP to cancel, HELP for help. Msg&data rates may apply. Terms & Privacy: slkt.io/JWQt
What Does Affordability Mean?
ATTOM calculates the amount of income a consumer would need to cover major monthly home ownership expenses such as mortgage, property taxes and insurance on a median-priced single-family home. ATTOM assumes a 20% down payment and a 28% maximum “front end” debt-to-income ratio.
ATTOM then compares that required income to annualized weekly wage data from the US Bureau of Labor Statistics.
Top Ten Most Affordable Housing Markets in Q1 2022
The housing markets listed below required the smallest portions of average local wages to cover major homeownership costs during Q1 2022:
- Schuylkill County PA (outside Allentown) – 7% of annualized local weekly wages to buy a home
- Macon County IL (Decatur) – 9.7%
- Peoria County IL – 10.2%
- Bibb County GA (Macon) – 10.2%
- Rock Island County IL (Moline) – 11%
- Cambria County PA – 11.1%
- Blair County PA – 11.5%
- Saint Lawrence County – 11.7%
- Fayette County PA – 11.7%
- Wayne County MI – 11.9%
ATTOM also found that 52% pf US counties analyzed required more than 28% of local wages to afford a typical home in Q1 2022.
Ten Least Affordable Housing Markets in Q1 2022
- Santa Cruz County – 92.7% of annualized local weekly wages to buy a home in Q1 2022
- Kings County NY (Brooklyn) – 91.5%
- Marin County CA (outside San Francisco) – 79.7%
- Maui County HI – 74.8%
- San Luis Obispo County CA – 73.7%
- Monterey County CA – 73.5%
- Napa County – 72.3%
- Orange County CA – 67.8%
- Santa Barbara County CA – 66.4%
- Queens County NY – 65.0%
URGENT: Are You Worried About Having A Slower Start To The Year? Don’t Hit The Panic Button, Learn How To Have Massive Success In A Shifting Market. When You Attend This Exclusive Training You Will Learn 17 Surprising Secrets Of The Top 100 $ Millionaire Agents. Claim Your FREE Spot Now. After You Have Attended This Event You Will Experience A Huge Feeling Of Relief Knowing You Will FINALLY Laugh At Your Money Worries – You Will Have Your Own Personalized 2022 Step-By-Step Business And Lead Generation Plan. Learn Now How To Generate 100’s of Motivated Leads for FREE, Without Coming Off As A Pushy Salesperson and Losing Your Soul. You Will Soon Know How To Become One of the 1000s of Agents Making HUGE Money In This Changing Market. Claim your FREE spot now. YES, I Want To Attend The FREE Webinar! <——Click To Register
P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available.
Thanks to ATTOM.