San Antonio Ranks 2nd For Most Affordable Home Markets
March 19, 2008
Bizjournals compared median home payments and household income levels in the nation’s 50 largest metros. The study was based on statistics from the U.S. Census Bureau’s 2006 American Community Survey, the most up-to-date source of federal data on housing costs. I must point out that the study shows the typical monthly housing payment for San Antonio at $747 dollars a month. While this is possible just realize that monthly payments for a house located in Alamo Ranch or the Stone Oak’s of San Antonio would be much higher but still very affordable compared to other markets. Links to the full article and slideshow are provided below.
“The healthiest housing markets today generally are moderately priced and are experiencing job growth and often population growth, which in turn is supporting strong price growth,” said Lawrence Yun, the National Association of Realtors’ chief economist, in a report issued in February.
And, indeed, most of the affordable metros enjoyed price appreciation and income growth in 2007, keeping prices in line with the ability to pay. They avoided the fourth-quarter slump that hit several of the costly markets in California and elsewhere.
Read the entire article “To find affordable homes, head away from California.”
View the slideshow by Bizjournals here.
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[...] economy and more jobs being added in the every year, San Antonio continues to grow with one of the most affordable home market’s in the [...]