What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

Here are the most affordable and least affordable housing markets

These markets were based on the median household income

As a recent report from the National Association of Home Builders and Wells Fargo shows, housing is more affordable now than it has been in three years. But several markets stick out on both ends of the affordability spectrum.

And according to Redfin, more Americans want to move where the housing is more affordable.

Here’s a look at the markets that are most affordable and least affordable.

The NAHB/Wells Fargo study showed that 89.3% of all new and existing homes sold in Scranton-Wilkes-Barre-Hazleton, Pennsylvania in the third quarter were affordable to families earning the area’s median income of $67,000.

This makes this metro the nation’s most affordable major housing market.

Other affordable major housing markets include Indianapolis-Carmel-Anderson, Indiana; Youngstown-Warren-Boardman, Ohio-Pennsylvania; Syracuse, New York; and Harrisburg-Carlisle, Pennsylvania.

The nation’s most affordable smaller market is Monroe, Michigan, with 95.3% of homes sold in Q3 being affordable to families earning the median income of $79,000.

Other affordable small markets include Cumberland, Md.-West Virginia; Davenport-Moline-Rock Island, Iowa-Illinois; Kokomo, Indiana; and Elizabethtown-Fort Knox, Kentucky.

The least affordable major market is, again, San Francisco. Only 8.4% of homes sold in Q3 2019 were affordable to families earning the area’s median income of $133,800.

Like San Francisco, the other major metros at the bottom of the affordability chart are in California; Los Angeles-Long Beach-Glendale; Anaheim-Santa Ana-Irvine; San Jose-Sunnyvale-Santa Clara; and San Diego-Carlsbad.

The least affordable small housing markets were also located in California, including Santa Cruz-Watsonville; San Luis Obispo-Paso Robles-Arroyo Grande; Napa; and Santa Rosa.

Most Popular Articles

Do higher mortgage rates mark the end of the refi wave?

As mortgage rates rose over the last week, refi activity fell. But millions of borrowers are still eligible if lenders can get them through the pipeline.

Feb 23, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please