Pro Builder
MAY 20, 2021
The site reviewed the payment-to-income ratios, number of homes on the market compared to households, and the average price cut for homes sold recently. San Diego-Chula Vista-Carlsbad, CA. Los Angeles-Long Beach-Anaheim, CA. Sacramento-Roseville-Folsom, CA.
Pro Builder
SEPTEMBER 9, 2021
When housing costs should account for 30% of income, it can be difficult to keep up in areas where the rent-to-income ratio is high. SmartAsset’s analysis reviewed income and rents across the country’s largest 25 cities to find the most and least affordable cities for renters. Income needed varies by more than a factor of four.
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Pro Builder
SEPTEMBER 1, 2022
Unfazed by climate risks and attracted by affordability, incomers flocked to popular cities like Los Angeles, CA, San Jose, CA, and New York City, NY, all of which are in the throes of an intense summer drought.
Pro Builder
JUNE 14, 2023
In markets like Burbank, CA, 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 payments was triple that at $192,616. Such was the case in Yonkers, NY, and Paterson, NJ.
Pro Builder
JULY 12, 2022
Six New Jersey counties are considered "at-risk" as costs of homeownership soar well beyond local household incomes. housing markets most vulnerable to a downturn are located in New Jersey, where a higher percentage of household income is required to maintain homeownership, according to Realtor.com. Six of the 10 U.S.
Pro Builder
NOVEMBER 21, 2022
By contrast, Boise City-Nampa, ID, Binghamton, NY, and San Francisco-Oakland-Hayward, CA recorded the slowest home price appreciation with Q3 gains of 0.6%, -1.1%, and -3.7%, respectively. Qualifying median family incomes rose to $88,331 compared to the second quarter of 2022, which was $88,200, and $58,826 a year ago.
Pro Builder
SEPTEMBER 29, 2020
FHA mortgages are catered to borrowers who may be first-time, minority, or lower-income, Realtor.com says. It was followed by Chicago; Washington, DC; Dallas; Riverside, CA; Baltimore; San Antonio, TX; Orlando, FL; and Tampa, FL. In August, nearly 17.4% of the 8 million FHA-backed mortgages were delinquent while 11.2%
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