Analyzing Affordability in Metropolitan Housing Markets -- January 2008

Abstract

Mounting anecdotal reports from metro areas across the country - both recognized housing hot spots and slow-growth markets - indicate that middle-income households are the hardest hit by this ongoing crisis. But it is wrong to assume that the dramatic downturn is easing the housing-cost burden on middle-income families either in the short-term or over the long-term. This report shows that these families remain unable to access affordable homes in their communities under current market conditions, and that policy solutions focused on this crisis will only be successful if they are implemented in tandem with a long-term strategy for keeping our communities affordable.

Homes for Working Families, Inc. ("HWF") relinquishes any claim in and to the copyright in this publication or any other publications, and dedicates any rights it may have in this publication or any other publications to the public domain.

Keywords: housing affordability, middle-income households, housing market, metro area, affordability index, housing finance, American Community Survey, house prices, household income, Case-Shiller, house price distribution