Interest.com 2014 Home Affordability Study
The Failing Grades
Thirteen of the nation's 25 largest metro areas earned a D or F in this year's study and the dubious distinction of having the least affordable housing markets. But every city that earned a passing grade last year, earned a passing grade this year. The ranks of failing cities didn't grow. All eight of the cities that earned a D in last year's study earned a D in this year's study. None of them dropped a grade and got tagged with an F. An Affordability Grade of C means the median-income family can afford the median-priced home in that city. A D means the median-income family can only afford a home that costs about 80% of the median price. And in those cities slapped with an F? A median-income family can't even afford a home selling for just 70% of the median price. Our sympathies if you’re a home buyer in one of those cities.
Click here to view the passing grades for 2014.