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Old 07-07-2011, 06:30 PM
 
Location: SW Austin & Wimberley
6,333 posts, read 18,056,449 times
Reputation: 5532

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This is an interesting report in which Austin received several glowing mentions as an example of an affordable city.

http://www.demographia.com/dhi.pdf
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Old 07-08-2011, 07:54 AM
 
Location: Austin, Tx
316 posts, read 877,281 times
Reputation: 201
Weird and affordable. Now that's mojo.

Not a fan of the per sq ft analysis (it is only one of numerous data points), but here goes. Austin's $120 per sq ft, while not a bargain is a very good price to pay from a worldwide perspective. Some parts of Chicago and Phoenix metros have come down to $50, but who wants to live there?
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Old 07-08-2011, 11:13 AM
 
Location: SW Austin & Wimberley
6,333 posts, read 18,056,449 times
Reputation: 5532
Quote:
Originally Posted by pjoseph2 View Post
Weird and affordable. Now that's mojo.

Not a fan of the per sq ft analysis (it is only one of numerous data points), but here goes. Austin's $120 per sq ft, while not a bargain is a very good price to pay from a worldwide perspective. Some parts of Chicago and Phoenix metros have come down to $50, but who wants to live there?
Agreed. There are areas in the US where one can retire and pay $12K cash for a home comparable to what you'd pay $250K-$350K for in Hyde Park. But they are not desirable places to live, so the "affordability" isn't helpful.

I also question the simple formula of dividing median income and median home values. If we to do that by a zipcode-by-zipcode basis in Austin, I think we'd find a lot of pockets that are not "affordable" by that simple formula.

Steve
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