Mar 20, 2013
Most affordable housing list includes Texas cities
TEXAS - ZipRealty has released a list of the ten most affordable housing markets of 2013. The evaluation compared median home sale prices in 30 metropolitan areas to median household...
TEXAS – ZipRealty has released a list of the ten most affordable housing markets of 2013.
The evaluation compared median home sale prices in 30 metropolitan areas to median household income levels in those same cities. Those metropolitan areas with the lowest ratios of home price to household income were deemed to be the most affordable areas for purposes of the study.
Metro Area | Median Household Income | Median Home Price Feb. 2012* | Home Price/Median Income Ratio | Median Home Price Feb. 2013** | Home Price/Median Income Ratio |
Dallas-Fort Worth | $47,418 | $240,000 | 5.06 | $249,950 | 5.27 |
Houston | $44,761 | $234,275 | 5.23 | $243,000 | 5.43 |
Minneapolis, Minn. | $54,304 | $272,000 | 5.01 | $298,642 | 5.50 |
Orlando, Fla. | $41,871 | $241,100 | 5.76 | $246,503 | 5.89 |
Las Vegas, Nev. | $42,468 | $225,000 | 5.30 | $254,000 | 5.98 |
Raleigh, N.C. | $48,845 | $279,945 | 5.73 | $294,500 | 6.03 |
Austin | $48,950 | $285,000 | 5.82 | $300,000 | 6.13 |
Denver, Colo. | $51,088 | $311,000 | 6.09 | $322,616 | 6.31 |
Nashville, Tenn. | $44,223 | $275,000 | 6.22 | $286,000 | 6.47 |
Phoenix, Ariz. | $44,752 | $265,000 | 5.92 | $295,000 | 6.59 |
*Three months ending February 1, 2012, year over year
**Three months ending February 1, 2013, year over year
Source: ZipRealty
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