Major Market Housing Affordability:
United States: 1995-2005
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MEDIAN MULTIPLE
(Higher Denotes Less Affordable) |
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|
Market |
1995 |
2005 |
Change |
Affordability Rank: 1995 |
Affordability Rank: 2005 |
Land Shortage: 2005? |
|
Akron, OH |
2.2 |
2.5 |
0.3 |
11 |
4 |
|
|
Albany-Schenectady-Troy, NY |
2.3 |
3.5 |
1.2 |
20 |
27 |
|
|
Albuquerque, NM |
3.5 |
3.7 |
0.2 |
58 |
32 |
|
|
Allentown-Bethlehem-Easton, PA-NJ |
2.3 |
4.6 |
2.3 |
20 |
41 |
YES |
|
Atlanta-Sandy Springs-Marietta, GA |
2.4 |
2.8 |
0.4 |
25 |
16 |
|
|
Austin-Round Rock, TX |
2.9 |
2.8 |
-0.1 |
50 |
15 |
|
|
Baltimore-Towson, MD |
2.4 |
4.7 |
2.3 |
25 |
43 |
YES |
|
Birmingham-Hoover, AL |
2.6 |
3.6 |
1.0 |
38 |
29 |
|
|
Boston-Cambridge-Quincy, MA-NH |
2.7 |
6.1 |
3.4 |
41 |
52 |
YES |
|
Buffalo-Niagara Falls, NY |
2.2 |
2.2 |
-0.0 |
11 |
1 |
|
|
Charlotte-Gastonia-Concord, NC-SC |
2.5 |
3.6 |
1.1 |
32 |
30 |
|
|
Chicago-Naperville-Joliet, IL |
2.7 |
4.9 |
2.2 |
41 |
45 |
YES |
|
Cincinnati-Middletown, OH-KY-IN |
2.1 |
2.8 |
0.7 |
7 |
17 |
|
|
Cleveland-Elyria-Mentor, OH |
2.2 |
3.0 |
0.8 |
11 |
21 |
|
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Columbus, OH |
2.3 |
2.9 |
0.6 |
20 |
20 |
|
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Dallas-Fort Worth-Arlington, TX |
2.5 |
2.8 |
0.3 |
32 |
13 |
|
|
Dayton, OH |
2.0 |
2.7 |
0.7 |
4 |
10 |
|
|
Denver-Aurora, CO |
2.5 |
4.0 |
1.5 |
32 |
38 |
YES |
|
Detroit-Warren-Livonia, MI |
2.1 |
3.1 |
1.0 |
7 |
24 |
|
|
Fresno |
2.9 |
6.8 |
3.9 |
50 |
56 |
YES |
|
Grand Rapids, MI |
2.1 |
2.6 |
0.5 |
7 |
9 |
|
|
Hartford-West Hartford-East Hartford, CT |
2.5 |
3.9 |
1.4 |
32 |
36 |
YES |
|
Honolulu, HI |
4.3 |
10.6 |
6.3 |
64 |
62 |
YES |
|
Houston-Baytown-Sugar Land, TX |
2.2 |
2.9 |
0.7 |
11 |
19 |
|
|
Indianapolis, IN |
2.6 |
2.4 |
-0.2 |
38 |
3 |
|
|
Jacksonville, FL |
2.2 |
3.7 |
1.5 |
11 |
33 |
YES |
|
Kansas City, MO-KS |
1.9 |
2.7 |
0.8 |
1 |
12 |
|
|
Las Vegas-Paradise, NV |
3.0 |
6.4 |
3.4 |
54 |
54 |
YES |
|
Los Angeles-Long Beach-Santa Ana, CA |
3.5 |
11.2 |
7.7 |
58 |
64 |
YES |
|
Louisville, KY-IN |
2.4 |
2.8 |
0.4 |
25 |
14 |
|
|
Memphis, TN-MS-AR |
2.8 |
3.2 |
0.4 |
45 |
25 |
|
|
Miami-Fort Lauderdale-Miami Beach, FL |
2.4 |
8.8 |
6.4 |
25 |
60 |
YES |
|
Milwaukee-Waukesha-West Allis, WI |
1.9 |
4.2 |
2.3 |
1 |
40 |
|
|
Minneapolis-St. Paul-Bloomington, MN-WI |
1.9 |
3.5 |
1.6 |
1 |
28 |
YES |
|
Nashville-Davidson--Murfreesboro, TN |
2.4 |
3.3 |
0.9 |
25 |
26 |
|
|
New Haven-Milford, CT |
2.5 |
4.8 |
2.3 |
32 |
44 |
|
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New Orleans-Metairie-Kenner, LA |
2.4 |
3.6 |
1.2 |
25 |
31 |
|
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New York-Northern New Jersey-Long Island, NY-NJ-PA |
3.6 |
7.9 |
4.3 |
60 |
59 |
YES |
|
Oklahoma City, OK |
2.0 |
2.7 |
0.7 |
4 |
11 |
|
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Omaha, NE-IA |
2.1 |
2.5 |
0.4 |
7 |
5 |
|
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Orlando, FL |
2.2 |
5.4 |
3.2 |
11 |
49 |
YES |
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Philadelphia-Camden-Wilmington, PA-NJ-DE-MD |
2.8 |
3.9 |
1.1 |
45 |
35 |
|
|
Phoenix-Mesa-Scottsdale, AZ |
2.8 |
5.1 |
2.3 |
45 |
47 |
YES |
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Pittsburgh, PA |
2.2 |
2.5 |
0.3 |
11 |
6 |
|
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Portland-Vancouver-Beaverton, OR-WA |
3.0 |
4.2 |
1.2 |
54 |
39 |
YES |
|
Providence-New Bedford-Fall River, RI-MA |
2.7 |
5.5 |
2.8 |
41 |
50 |
YES |
|
Raleigh-Durham |
2.8 |
3.1 |
0.3 |
45 |
23 |
|
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Richmond, VA |
2.3 |
3.9 |
1.6 |
20 |
34 |
|
|
Riverside-San Bernardino-Ontario, CA |
2.7 |
7.7 |
5.0 |
41 |
58 |
YES |
|
Rochester, NY |
2.0 |
2.2 |
0.2 |
4 |
2 |
|
|
Sacramento--Arden-Arcade--Roseville, CA |
2.9 |
6.8 |
3.9 |
50 |
55 |
YES |
|
Saint Louis, MO-IL |
2.3 |
2.6 |
0.3 |
20 |
8 |
|
|
Salt Lake City, UT |
3.1 |
3.1 |
-0.0 |
57 |
22 |
|
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San Antonio, TX |
2.8 |
2.9 |
0.1 |
45 |
18 |
|
|
San Diego-Carlsbad-San Marcos, CA |
3.6 |
10.8 |
7.2 |
60 |
63 |
YES |
|
San Francisco-Oakland-Fremont, CA |
4.0 |
9.3 |
5.3 |
63 |
61 |
YES |
|
San Jose |
3.6 |
7.4 |
3.8 |
60 |
57 |
YES |
|
Seattle-Tacoma-Bellevue, WA |
2.9 |
5.3 |
2.4 |
50 |
48 |
YES |
|
Tampa-St.Petersburg-Clearwater, FL |
2.2 |
5.0 |
2.8 |
11 |
46 |
YES |
|
Tucson, AZ |
3.0 |
5.7 |
2.7 |
54 |
51 |
YES |
|
Tulsa, OK |
2.2 |
2.6 |
0.4 |
11 |
7 |
|
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Virginia Beach-Norfolk-Newport News, VA-NC |
2.4 |
4.0 |
1.6 |
25 |
37 |
|
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Washington-Arlington-Alexandria, DC-VA-MD-WV |
2.5 |
6.3 |
3.8 |
32 |
53 |
YES |
|
Worcester, MA |
2.6 |
4.6 |
2.0 |
38 |
42 |
YES |
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Average |
2.6 |
4.5 |
1.9 |
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Land Shortage Markets |
2.8 |
6.3 |
3.5 |
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YES |
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Other Markets |
2.4 |
3.1 |
0.7 |
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Data sources used in calculations: US Bureau of the Census, US Department of Housing and Urban Development, National Association of Realtors and National Association of Home Builders. |
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Median Multiple: Median House Price to Median Household Income Ratio |
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Note: Median Multiple has historically been 3.0 or lower in nearly all markets. |
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(c) 1994-2005 --- www.demographia.com --- Wendell Cox Consultancy --- Permission granted for use with attribution.
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