Demographia's Housing Affordability Index 2022 by MSA/CMA

[btownboss4]

Originally Posted by rnc2mbfl

The whole point of the numbers analysis is that they already reflect the median home price divided by the median household income. You don't have to adjust anything. I suppose that one can continue to argue that this is less impactful on high earning households, but many of the areas with high household incomes also have high everything else in addition to housing costs. Interestingly, I haven't seen that happen in Miami. In addition to not having a state income tax, I find that my utilities are not high in Miami, gas prices aren't in the stratosphere, grocery prices seem average, etc.

But no that’s not true.

https://www.zippia.com/advice/gallon...ts-each-state/

Here is the price of a gallon of milk.

https://www.zippia.com/advice/loaf-o...ts-each-state/

Loaf of Bread



1) the range is much tighter (the highest is double the lowest)

2) it does not relate to the cost of housing

Gasoline is similar most states are between $4 and $4.40 only a ~10% range.

Cost of housing and cost of living are not the same. So housing being 8x income if that income is 53,000 like in Miami is a bigger burden than 8x income in Seattle where median income is 100k because everything else isn’t double

[Craziaskowboi]

Originally Posted by manitopiaaa

The formula here is very straight-forward. The score = median home price divided by median household income. The change in score is provided both for 2010 and 2015.



As you can see, 2021 was an absolute trainwreck for housing affordability.

• Miami has joined the list of extremely unaffordable (what I consider 8+).
• Vancouver continues to be the most extreme housing market in Anglo America, with a median home priced at 13.3 times the median household income. In fact, it is only bested globally by Sydney (15.3) and Hong Kong (an eye-popping 23.2).
• In the U.S., San Jose is #1 most unaffordable (12.6), followed by Honolulu (#2 at 12.0)
• Since 2010, San Jose has been the fastest increasing market (+5.9 since 2010). Since 2015, by far the fastest increasing has been Toronto at +3.8.

The best housing markets are:
1. Pittsburgh: 2.7 (the cheapest market studied of the 92 cities globally)
2. Oklahoma City: 3.3
3. Rochester: 3.3
4. Edmonton: 3.6
5. Saint Louis: 3.6

If I'm interpreting that graph correctly, then there's a housing bubble in every major metropolitan area except Pittsburgh and Calgary.

[PghYinzer]

Is this at metro level?

Pittsburgh metro is so different depending on where you are (City of Pgh/Allegheny County vs. Fayette/Green County)that it keeps our home prices looking much more affordable than they are.