Found 2 blog entries tagged as huntsville housing affordability.

Are Huntsville, Alabama Homes Overvalued?

There has been a lot of hype and clickbait articles predicting what will happen in the housing market not only nationally, but locally as well. The latest clickbait article that came across my desk was titled “Housing Correction Coming to Alabama: See the State's Most Overvalued Real Estate Market”. 

They made two points in the article: 

1) Home prices have outpaced income growth and 

2)  Huntsville is at the top of the state's list at 37.12% overvalued compared to the area's income levels.

 

Are Huntsville homes overvalued and is a housing correction coming to the market? Let’s look at the facts:

Rising Cost of Living

Overvalued is probably not the right term, higher cost of living is…

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Is Huntsville, Alabama Still Affordable?

 

We keep hearing that Huntsville is one of the most affordable cities in the United States, but is Huntsville really still affordable?

Housing Affordability in Huntsville

Overall affordability is measured using a few metrics, one of those metrics is the housing affordability index. If the housing affordability index score is 100, the median income for that city is 100% of what you would need to buy the median price range home for that area.

In Huntsville, housing affordability index numbers have actually continued to decrease. Locally, the score for single family homes is down to 78 compared to 119 in 2021 and 137 in 2020. The score for townhome affordability is down to 110 from 155 in 2021…

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