St Louis Home Affordability Declines Double Digits From a Year Ago

As a result of rising interest rates and home prices at levels higher than increases in income, homes in St Louis continue to become less affordable.  In fact, according to data just released by ATTOM Data Research, home affordability declined double digits during the 3rd quarter of this year in all five counties that make up the St Louis core market.  As the info graphic below illustrates, the percentage of wages needed to buy a home have, depending upon county, increased about a third to almost half from the historical “norm”.

Least affordable ever…

Three of the five counties that make up the St Louis Core market (St Louis, St Louis City, and St Charles) hit the least affordable levels ever during 3rd quarter, with Franklin County hitting its lowest level last quarter and seeing a slight uptick in affordability during 3rd quarter.  Conversely, Jefferson County saw its least affordable quarter back in 2007.

Most affordable ever…

We have to take a quick stroll down memory lane to visit when homes were most affordable in the St Louis area.  Franklin County had its most affordable quarter just back in 2020, St Louis County was back in 2013, Jefferson and St Charles 2012 and the City of St Louis had its most affordable quarter over 14 years ago in 2009.


St Louis Home Affordability – 3rd Quarter 2023

(click on image below for full infographic showing all info)

St Louis Home Affordability - 3rd Quarter 2023

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