Baltimore is among 831 “consistently affordable” jurisdictions, according to a study released Thursday on affordable housing.
RealtyTrac, an online real estate data provider, released its study on affordable housing by examining the income-to-price percentages nationwide. That percentage was determined by the percentage of median income needed to make a monthly house payment on a median-priced residential property between January 2000 and May 2014. The study found that a third of the counties analyzed surpassed their income-to-price affordability.
The city posted a 14 percent income-to-price affordability. That put it in the same category as the Detroit and Indianapolis metro areas. To be considered in the consistently affordable range, a jurisdiction had to post a 15 percent or lower income-to-price affordability.
The communities that were considered inherently unaffordable are high-end vacation areas. This group included Pitkin County, Colorado, Teton County, Wyoming and Nantucket County, Massachusetts. It also included the usual urban areas, such as four of the five Burroughs of New York City, Los Angeles and San Francisco.