Columbus ranking for home affordability improves
Business First of Columbus wrote Columbus ranking for home affordability improves
Tuesday, May 27, 2008
Boosted by an increase in household income and a decline in home prices, the Columbus area in the first quarter improved its standing as one of the 50 most-affordable housing markets in the nation, according to a quarterly index.
Columbus ranked 38th nationwide and 26th in the Midwest for affordability, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. The report said 81.5 percent of new and existing homes sold in the market during the quarter were affordable to families earning the area’s median household income of $65,300. The median sales price was $125,000.