Interest.com 2014 Home Affordability Study
The Passing Grades
Although home prices are still increasing in most cities, they're rising less quickly than in the previous couple of years. That's allowed higher median incomes and lower mortgage rates to keep homes from becoming less affordable in the nation's 25 largest cities over the past year. A dozen of those metro areas continue to earn passing grades from this year's study and the distinction of having the most affordable housing markets. An Affordability Grade of C means the median-income family can afford the median-priced home in that city. A B grade means the median-income family can afford to buy a home that costs 40% more than the median price. And an A? Well, there are no A's for the second year in a row. We don't grade on the curve. Is your hometown on this list?
Click here to view the failing grades for 2014.