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St. Louis Real Estate Search

 

Eighty Four Percent Of St Louis Homes Sold At End of 2012 Were Affordable To Families With Median Income

dennis-norman-realtor

Over 84 percent (84.1) of the homes sold in St Louis during the 4th quarter of 2012  were affordable to a family earning the St. Louis median income of $70,400, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) that was just released.  This is actually the lowest the affordability index for St. Louis has been since the 3rd quarter of 2011 when it was 81.5 but is significantly better than it was a little over 5 years ago, in the 3rd quarter of 2007 when only 70.4 percent of the homes sold in St Louis were affordable to a family with a median income.

Not everywhere in the U.S. is so affordable though, such as San Francisco, at the top of the list of the least affordable metro areas in the U.S. where just over a fourth (28.4 percent) of all homes sold would be affordable to a family with a median income in spite of the fact that the median income in that area at $103,000 is over 50% higher than the U.S. median income. At the other end of the list is Ogden-Clearfield, Utah at the top of the list for most affordable metro areas for housing where a whopping 93.7 percent of the homes sold in the 4th quarter of 2012 were affordable to a family with a median income.

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