Austin is the only Texas city less affordable than Dallas, making it the 19th most affordable housing market in the nation.
Dallas — Editor's note: This article was originally published by Click here for Dallas Business Journal.
A new RealtyHop study reports Dallas has the lowest home prices in North Texas and the second-lowest home prices in the state.
The housing listing platform analyzed proprietary data and ACS Census data to create an index of housing affordability in Dallas-Fort Worth that shows the burden of homeownership.
The RealtyHop Metro Affordability Report found that Dallas households with a median household income of $64,849 spend 40% of their income on mortgage and property tax payments. The median asking price in Dallas is $374,000.
Garland is the most affordable housing market in the metro area. The city's median asking price is $310,000, and Garland homeowners with a median household income of $75,494 spend 29% of their budget on housing.
Fort Worth and Plano became more affordable this month, with median property values increasing 2.9% and 3.4%, respectively. Despite becoming less affordable, Plano is his second-most affordable housing market, with homeowners in the city spending 33% of their income on housing payments. .
Irving has become more affordable, with median list price down 2.6%.
Nationally, homeowners in the nation's 66 major cities spend more than 30% of their income on housing, and in the 25 most affordable markets, households continue to spend more than 40% on housing. ing. Dallas is his 25th most affordable housing market in the country.
Austin is the only Texas city less affordable than Dallas, making it the 19th most affordable housing market in the nation. Households with the city's median income of $88,278 spend 43% of their income on housing, and the median home price in Austin this month is $549,900.
