Allen Brothers Houston Real Estate

Houston Housing Affordability Index for 3Q 2010

April 21st, 2011 2:07 PM by AllenBrothers Realtors

In 2010 the HAI, or Housing Affordability Index, for the median Houston family was 2.11.

The HAI is the ratio of the median family income to the income required to buy the median-priced house using standard mortgage financing at the current interest rate. Standard financing is a fixed-rate, 30-year loan covering 80 percent of the cost of the home. A HAI of 1.00 indicates that the median family income is exactly equal to the required income to qualify for the standard loan to purchase the median-priced house.

In Houston the median priced home in 2010 was $155,900. The median family income in Houston was $65,100.

The HAI for first time homebuyers in Houston in 2010 was 1.49.

Posted in:General
Posted by AllenBrothers Realtors on April 21st, 2011 2:07 PM

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