The area comprising Boardman, Warren, and Youngstown, Ohio, is the country's most
affordable housing market among metropolitan areas with populations greater than 500,000, says the National Association of Home Builders.
Not exact matches
Buffalo Niagara is being recognized nationwide on a growing list of accolades that demonstrate an important change in how Western New York is perceived: in 2010 Forbes Magazine called the region the 10th best place to raise a family; in 2011 Relocate America placed Buffalo Niagara
among the top 100 best places to live and The Business Journals reported that Buffalo Niagara had the nation's 18th strongest private sector job growth; and in 2012 the National Association of Home Builders ranked our region
among the most
affordable major U.S.
housing markets.
Relatively low mortgage rates and more
affordable home prices in some
housing markets are creating renewed interest in homeownership, especially
among young renters who are tired of seeing their rent costs rise every year.
Among smaller
housing markets, Fairbanks, Alaska topped the affordability chart with 98.7 percent of homes sold during the second quarter being
affordable to families earning the area's median income of $ 92,900.
Also ranking
among the most
affordable major
housing markets in respective order were Dayton, Ohio; Lakeland - Winter Haven, Fla.; Modesto, Calif.; Grand Rapids - Wyoming, Mich.; and Buffalo - Niagara Falls, N.Y.; the latter two of which tied for fifth place.
Among smaller
housing markets, Fairbanks, Alaska, remained at the top of the affordability chart with nearly all homes sold in the quarter — 99.6 percent —
affordable to those earning the median income of $ 92,900.
Also ranking
among the most
affordable major
housing markets in respective order were Dayton, Ohio; Buffalo - Niagara Falls, N.Y.; Indianapolis - Carmel, Ind.; and Modesto, Calif..
Among the recommendations for keeping a powerful
housing market in the 21st century: Maintain and build on tax incentives for homeownership and for the development of critically needed
affordable rental
housing, and build on efforts that enable local governments to manage, rather than stifle, the inevitable growth pressures they face.
Down the road, we believe the agencies may introduce lending authority allocations to business lines (multifamily
market rent, seniors,
affordable, manufactured
housing, student, etc.), a common practice
among private institutional lenders.