October 2023 Market Indicator Report October 2023 | 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 .
October Year to Date
93 104
58 49
61 51
2021 2022 2023
2021 2022 2023
- 11.4 % - 37.6 % - 15.5 % - 8.8 % - 41.3 % - 16.4 %
Affordability Index November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 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
0
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