Monthly Market Indicators May 2022 | 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 .
May Year to Date
73 71
58 61
48 49
2020 2021 2022
2020 2021 2022
- 1.4 % - 20.5 % - 17.2 % - 4.1 % - 14.1 % - 19.7 %
Affordability Index June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 12-Month Avg
Historical Housing Affordability Index by Month
110
100
90
80
70
60
50
40
04-2014
04-2015
04-2016
04-2017
04-2018
04-2019
04-2020
Current as of June 10 , 2022 . Data is Copyright © 2022 All Rights Reserved . MLS of Hilton Head Island . Provided by the Hilton Head Area Association of REALTORS ® and South Caro