Houston among nation’s most affordable major metro areas, for now

Houston home prices keep shooting up, but they’re still among the most affordable in the nation, a new report showed.
ZipRealty, an online residential brokerage firm, examined median home sales prices in 30 metro areas and estimated family income data from the Department of Housing & Urban Development to generate a ranking based on affordability.
Houston ranked No. 8 , with a median sales price of $185,00 in February and an estimated family income of $66,000 in 2014. Houston’s affordability index of 2.8 means the median price house is 2.8 times the region’s estimated family income. The median sales prices used in the study represents single-family homes, townhomes and condos.

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