Highlights from this snapshot:
- Home prices continue to rise nationally. According to the National Association of Realtors, median sales price nationwide is now $257K, compared to around $190K in 2012.
- Fewer “starter homes” are being built, which is exacerbating the affordability crisis. In metro Atlanta, 44% of home buyers have incomes above $100K, meaning that home ownership is becoming out of reach for lower income households (the 10-county region median household income is $62,332).
- Since 2011, the rate of home price increase has been about 20 percentage points higher than has the rate of wage increase.
- The geography of home prices follows a distinct spatial pattern in the Atlanta region. The areas that experienced the greatest home price appreciation since 2000 are located in the north while the areas that have experienced declines since 2000 are located in the south.
Click through the slides below or download the PDF Regional Snapshot: Metro Atlanta Housing Affordability.