Nation’s Median Income of $61,372 v. Atlanta Housing Market
Atlanta | Real Estate |
Nearly 50% of the homes available on the market today in Atlanta are affordable on the Nation’s Median Income amount of $61,372.00, according to a new Redfin article out this week.
“The higher share of affordable homes for sale in Phoenix and Atlanta than San Francisco is one reason why the San Francisco metro, where the median home sale price is $1.3 million, topped the list of metro areas Redfin users were looking to leave in all four quarters of 2018. It also helps explain why the Phoenix and Atlanta areas, where the median sale prices are $267,000 and $230,000, respectively, were both among the five most popular destinations each quarter of last year.”
The article continues to compare affordability between the San Francisco, Phoenix and Atlanta markets.
“Atlanta is a popular migration destination because of its relatively low housing costs and strong jobs market, ” said Redfin chief economist Daryl Fairweather. “Major Bay Area tech companies like Pandora and Square are following talent, opening offices in Atlanta. But as more affluent migrants move in, Atlanta housing prices may not stay affordable for very long.”
To read the full article in it’s entirety, click HERE. Inside, you’ll find an interactive Housing Affordability map by zip code for all of the cities mentioned above. Also, click HERE to see a full analysis of the Atlanta Housing Market on Redfin.com.
Written by Megan Blanks, Marketing Director at McManamy McLeod Heller.
*This content is for informational purposes only. Not to be relied upon as legal advice. Nothing in this blog should be construed as creating an attorney-client relationship. MMH is not responsible for, does not endorse or accept liability for any externally linked site or its content. MMH does not give any representation regarding the safety, reliability or accuracy of the content or materials contained on any external website.