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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
New Home Prices By State And Metro Areas
Posted on 07/01/2007 17:56:17 | Link | Post Comment
San Francisco the nation's 7th-least affordable housing market.
Once again, San Francisco ranked as the seventh-least affordable housing market in the nation, seventh to L.A., according to the National Association of Home Builders.
The builders association’s quarterly ranking found that only 6.7% of S.F. homes are within the price range of a family earning the San Francisco County median income of $86,500 during the first quarter of 2007. Full report HERE
San Francisco has ranked near the bottom of the builders association’s list for more than a year. It’s ranking remains virtually unchanged from past quarters even as the national affordability picture improved slightly, thanks to lower home prices and lower mortgage rates, the builders association reported.
Forty-four percent of U.S. homes are affordable to families earning the national median income, compared to 41.6% in the first quarter of 2006. Four of the five least affordable U.S. metro areas are in California. In addition to S.F. County, they are: Los Angeles County, where 3% of the homes were affordable; Santa Barbara, with 6% within affordable ranges; and Orange County, where 4.4% of the homes are affordable.The New York metro area, were 6 percent of the homes were affordable, also was in the top five.The most affordable home prices? Indianapolis and Youngstown, Ohio, where 89 percent of the homes were affordable in the first quarter. Read the press release HERE.
Once again, San Francisco ranked as the seventh-least affordable housing market in the nation, seventh to L.A., according to the National Association of Home Builders.
The builders association’s quarterly ranking found that only 6.7% of S.F. homes are within the price range of a family earning the San Francisco County median income of $86,500 during the first quarter of 2007. Full report HERE
San Francisco has ranked near the bottom of the builders association’s list for more than a year. It’s ranking remains virtually unchanged from past quarters even as the national affordability picture improved slightly, thanks to lower home prices and lower mortgage rates, the builders association reported.
Forty-four percent of U.S. homes are affordable to families earning the national median income, compared to 41.6% in the first quarter of 2006. Four of the five least affordable U.S. metro areas are in California. In addition to S.F. County, they are: Los Angeles County, where 3% of the homes were affordable; Santa Barbara, with 6% within affordable ranges; and Orange County, where 4.4% of the homes are affordable.The New York metro area, were 6 percent of the homes were affordable, also was in the top five.The most affordable home prices? Indianapolis and Youngstown, Ohio, where 89 percent of the homes were affordable in the first quarter. Read the press release HERE.
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