Affordability Index

The Affordability Index measures how accessible homeownership is for the average family within a specific area. It compares median family income to median home prices, indicating whether homes are affordable or expensive relative to what most families earn. A higher index suggests homes are more affordable, while a lower one indicates they are pricier and harder to buy. This index helps gauge housing market conditions, guiding potential buyers, policymakers, and developers in understanding whether homes are within reach for the typical household.