Home Affordability In St Louis Drops For All Counties In Third Quarter

By Dennis Norman, on October 4th, 2018

One of the nice things about St Louis has always been that it’s an affordable place to live and an affordable place to own a home.  However, as St Louis home prices, and mortgage interest rates, continue to increase, home affordability in St Louis has declined.

As the table below, which is based on data from ATTOM Data Research, shows, all of the counties reported on in the State of Missouri saw home affordability decline during the 3rd quarter with the exception of Jackson County (Kansas City).  All of the counties had a decline in home affordability from a year ago with St Louis County seeing the biggest decline at 11%.

St Louis Home Affordability – 3rd Quarter 2018

St Charles Homeowners spend the largest percentage of income on a home…

In St Charles County, home buyers spend, on average, 41.3% of their income to buy a home, the highest percentage of the reported counties in Missouri.  In the city of St Louis, the percentage of income spent on housing was just 21.9%.

Percentage of Annualized Wages Necessary to Buy A Home

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