January 2024 Market Indicator Report January 2024 | 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 .
January Year to Date
86 86
63 63
52 52
2022 2023 2024
2022 2023 2024
- 21.8 % - 26.7 % - 17.5 % - 21.8 % - 26.7 % - 17.5 %
Affordability Index February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 November 2023 December 2023 January 2024 12-Month Avg
Historical Housing Affordability Index by Month
180
160
140
120
100
80
60
40
01-2008
01-2009
01-2010
01-2011
01-2012
01-2013
01-2014
01-2015
01-2016
01-2017
01-2018
01-2019
01-2020
01-2
Current as of February 10 , 2024 . Data © 2024 REsides , INC . All Rights Reserved . | Sponsored by South Carolin