CFED Scorecard

CFED Assets & Opportunity Scorecard

Affordability of Homes Reports & Graphics

This measure estimates housing affordability relative to income. In areas where housing values are high relative to income, many prospective homeowners are priced out of the market, prohibiting them from building home equity. Whereas high housing values benefit those who already own their homes, a high ratio of housing value to wages typically makes it less likely that someone can afford to purchase a home. 

Affordability of Homes, 2012

StateRatio of Median Housing Value
to Median Household Income
Rank
United States  3.3   
Alabama  3.0  15 
Alaska  3.6  32 
Arizona  3.2  22 
Arkansas  2.7  10 
California  6.0  49 
Colorado  4.1  42 
Connecticut  4.0  39 
Delaware  3.9  37 
District of Columbia  6.9  50 
Florida  3.3  27 
Georgia  3.0  17 
Hawaii  7.5  51 
Idaho  3.4  29 
Illinois  3.1  20 
Indiana  2.6 
Iowa  2.5 
Kansas  2.6 
Kentucky  2.9  14 
Louisiana  3.2  26 
Maine  3.7  33 
Maryland  3.9  38 
Massachusetts  5.0  47 
Michigan  2.5 
Minnesota  3.0  19 
Mississippi  2.7  11 
Missouri  3.0  16 
Montana  4.1  41 
Nebraska  2.5 
Nevada  3.0  18 
New Hampshire  3.7  35 
New Jersey  4.5  45 
New Mexico  3.7  34 
New York  5.0  48 
North Carolina  3.3  28 
North Dakota  2.7 
Ohio  2.7  12 
Oklahoma  2.6 
Oregon  4.6  46 
Pennsylvania  3.2  23 
Rhode Island  4.3  44 
South Carolina  3.1  21 
South Dakota  2.8  13 
Tennessee  3.2  24 
Texas  2.5 
Utah  3.5  31 
Vermont  4.1  40 
Virginia  3.9  36 
Washington  4.2  43 
West Virginia  2.5 
Wisconsin  3.2  25 
Wyoming  3.4  30 

Definition

Median housing value divided by median family income, 2012.

Source

2012 American Community Survey. Washington, DC: U.S. Department of Commerce, Census Bureau, 2013.

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