Home Affordability Improves In St Louis During Third Quarter

By Dennis Norman, on September 26th, 2019

Home affordability improved in the St. Louis metro area during the 3rd quarter, with 4 of the 7 largest counties seeing an improvement in their affordability index from the prior quarter and 5 of the 7 seeing an improvement in affordability from a year ago, according to the latest data from ATTOM Data Research.

The greatest improvement in affordability was in Franklin County.

As the table below shows, Franklin County saw a 12% improvement in housing affordability from the prior quarter and an 11% improvement from a year ago.   Jefferson, St Charles and St Clair (IL) County saw improvements in affordability from the prior quarter as well.

St Louis County suffered the greatest decline in housing affordability.

St Louis County saw affordability decline 12% from the prior quarter and 10% from a year ago.

Home prices are outpacing wages in 5 of the 7 counties covered…

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As the second table below shows, home prices are increasing at a greater rate than wages in five of the seven counties in the St Louis MSA covered in this report (it was 4 of 7 in the 2nd quarter). The exceptions are Jefferson and Franklin Counties in Missouri.

St Louis MSA Home Affordability By County – 3rd Quarter 2019

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