April 2020 Indicators April-Monthly-Market-Reports | Page 10

Housing Affordability Index
This index measures housing affordability for the region. For example, an index of 120 means the median household income is
120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater
affordability.
April
Affordability Index
Year to Date
76
75
76
71
74
70
2018 2019 2020 2018 2019 2020
- 1.3% - 1.3% - 5.3% - 5.0% - 2.6% - 5.4%
Prior Year Percent Change
0.0%
May 2019 74 74 June 2019 72 77 -6.5%
July 2019 72 80 -10.0%
August 2019 76 75 +1.3%
September 2019 73 76 -3.9%
October 2019 66 71 -7.0%
November 2019 78 73 +6.8%
December 2019 67 72 -6.9%
January 2020 71 73 -2.7%
February 2020 73 79 -7.6%
March 2020 67 73 -8.2%
April 2020 71 75 -5.3%
12-Month Avg 72 75 -4.2%
Historical Housing Affordability Index by Month
110
100
90
80
70
60
04-2014
04-2015
04-2016
04-2017
04-2018
04-2019
04-2020
Current as of May 10, 2020. Data is Copyright © 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 10