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Rent or Buy. The Biggest Deciding Factors in Today’s Housing Market

Pro Builder

The Biggest Deciding Factors in Today’s Housing Market ldeakins Thu, 04/27/2023 - 10:53 Home prices and rental costs are at all-time highs, so how are Americans determining which housing option is more affordable? Across the 50 largest metro areas in the U.S., Rent or Buy.

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Housing Affordability Dips to 15-Year Low as Mortgage Rates Soar

Pro Builder

Housing Affordability Dips to 15-Year Low as Mortgage Rates Soar. Housing affordability took another hard hit last week following the Fed's most recent rate hikes. metros following the Fed’s most recent rate hike last week, causing a steep drop in buyer demand across the country, Zillow reports. Wed, 06/22/2022 - 12:18.

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Salary Needed to Afford a Home in the Top 15 Metros

Pro Builder

Salary Needed to Afford a Home in the Top 15 Metros. Housing costs are the biggest expense Americans have, with about one-third of the average American salary going toward these. SmartAsset identified the salaries needed in the 15 largest metros to afford an average home payment and not exceed the recommended 36% debt-to-income ratio.

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Less Than Half of All U.S. Counties are Affordable for Homeownership

Pro Builder

From there, the cost of mortgage payments, taxes, and insurance were calculated. Counties deemed unaffordable are those with housing costs exceeding 28% of the average household income. The largest metros where homeownership remains affordable on average are Chicago, Houston, Philadelphia, Cleveland, and Tampa. .

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Business Facilities’ 2019 Metro Rankings Report

Business Facilities

15th Annual Rankings: 2019 Metro Rankings Report. W e’ve subdivided our metro Economic Growth Potential ranking into small, medium and large categories this year. Atlanta, GA; San Antonio, TX and Phoenix, AZ are the top-ranked large metros in this flagship category, respectively. From the July/August 2019 Issue. ATLANTA NO.

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Innovation Is Thriving In Arizona

Business Facilities

While the national average of per-capita income going to taxes is 9.9 In addition, Arizona’s taxes on property, gas and personal income remain low compared to the rest of the country. Boasting a population of nearly 500,000, Mesa is the 36th largest city in the United States and second largest in the Phoenix-Mesa metro area.

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Starter Homes Are Becoming Increasingly Unaffordable, Even in Secondary Markets

Pro Builder

a secondary city of the Los Angeles metro, the average renter household income was $63,127 in 2021, but the amount needed to afford the area’s average mortgage payment was triple that at $192,616. In an ideal housing market, the monthly mortgage, insurance, and property tax payments should not exceed 30% of one’s gross monthly income.