From the Desk of Mary Frances Burlson, President & CEO of Ebby Halliday Companies
DFW HOUSING AFFORDABILITY
The Dallas-Fort Worth metropolitan area remains one of the more affordable locations in the country in which a home may be purchased, according to a recent study by HSH.com, the nation’s largest independent publisher of mortgage and consumer loan information.
Of 27 U.S. metro areas studied, Dallas-Fort Worth ranked near the middle of the pack for affordability.
Despite significant increases in home values over the past few years, DFW remained much more affordable than San Francisco, Los Angeles, New York, Boston, Seattle, Denver, Chicago, or Miami.
The study found that a typical DFW area buyer needed an annual household income of approximately $54,760 to qualify for a mortgage loan on a median value home at $232,200. This was significantly less, for example, than the $161,950 income a San Francisco buyer would need to purchase a median value home there.
It’s clear that the Dallas-Fort Worth and North Texas area is still one of the most desirable, and affordable, places to live in the U.S.
For more information on the DFW residential real estate market, or to view homes for sale in the area, contact