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Washington: Available affordable housing stock

The available affordable housing stock indicator uses the Housing Affordability Index (HAI) which measures the ability of a middle income family to afford the mortgage payments on a median priced home. When the index is 100 there is balance between ability to pay and cost. The lower index calculation depicts housing costs that are decreasingly less affordable.  The HAI is calculated assuming a 30-year loan, 20% down payment and 25% of income for principal and interest payments.
 
In Washington, the available affordable Housing Stock Index (HAI). . .
  • was 177 compared to NA in the U.S.;
  • increased by 31 percent from 2010 to 2013.
 

To get the most out of this indicator . . .

 

Ask questions:

 

·         How do HAI values compare to those in neighboring counties or the state as a whole?

 

Look at other indicators:

 

·         “Housing/Rent Burden: Affordable housing” – Is local housing affordable?

·         “Employment: Wage per job” – If local housing is relatively more expensive than state averages, are local wages also higher than state averages?

 

Dig deeper:

 

·         Look at the county rankings for your state and/or view maps to see how your county compares to others.

·         Contact your local county assessor or board of realtors to get more up-to-date figures on local housing values.

·         Take a Big Picture view of your county.

·         If you have specific questions, send us an e-mail.



NOTE: The Housing Affordability Index measures the ability of a middle income family to afford the mortgage payments on a median priced home. When the index is 100 there is balance between ability to pay and cost. The higher index calculation depicts housing that is increasingly more affordable. The HAI is based upon a 30-year loan, 20% down payment and 25% of income for principal and interest payments.

Source: 2006-2013: Washington Center for Real Estate, (http://wcrerdata.be.washington.edu/WSHM/WSHM.html);




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