Providing National Research & Consulting Services for Our Clients

Local Affordability Stats

BURNS AFFORDABILITY INDEX™
Updated Through June 2013
0

The Burns Affordability Index™ calculates the ratio between housing costs for the median-priced existing home and income levels. Then, we analyze 28+ years of history in each metropolitan area, and compare the current ratios to the median ratios in each area. The down payment and mortgage payments are appropriately weighted based on total expenditures over the life of a typical home purchase. This methodology accurately determines which markets are overpriced and underpriced, even in an environment with historically low mortgage rates.

The Index ranges from 0 to 10, and is generally categorized as follows:

  • Areas of Significant Affordability Concern: 7.6 to 10.0
  • Areas of Affordability Concern: 5.0 to 7.5
  • Areas of Less Affordability Concern: 0.0 to 4.9

Markets listed are MSAs unless noted with (D), which indicates a Metropolitan Division (a subset of an MSA/CBSA)

Down Payment & Income Info
Mortgage Payment & Income
BURNS
Information
Affordability
Med.
Down
Median
D.Pymt
Ann.Mtg.
Mtg.
Hsng
Metro Area*
Index
Price
Pymt
Income
/Inc.
Pymnt.
Pym/Inc
Cost/Inc
 
Significantly Overpriced in Comparison to History (7.6 to 10.0)
 
 
Overpriced in Comparison to History (5.0 to 7.5)
1
 San Jose, CA
6.8
$730,000
$146,000
$86,302
169%
$35,342
41%
65%
2
 Boulder, CO
6.7
$387,100
$77,420
$64,543
120%
$18,741
29%
46%
3
 Orange County, CA (D)
6.5
$600,000
$120,000
$71,803
167%
$29,048
40%
64%
4
 Portland, OR
6.4
$261,500
$52,300
$54,661
96%
$12,660
23%
37%
5
 San Francisco, CA (D)
6.3
$854,500
$170,900
$77,525
220%
$41,370
53%
85%
6
 Bethesda, MD (D)
6.3
$450,000
$90,000
$91,166
99%
$21,786
24%
38%
7
 Honolulu, HI
6.0
$664,762
$132,952
$66,869
199%
$32,184
48%
77%
8
 Seattle, WA (D)
5.9
$382,000
$76,400
$68,479
112%
$18,494
27%
43%
9
 Santa Cruz, CA
5.8
$571,000
$114,200
$61,879
185%
$27,644
45%
71%
10
 San Diego, CA
5.8
$449,000
$89,800
$60,709
148%
$21,738
36%
57%
11
 Los Angeles, CA (D)
5.8
$420,000
$84,000
$53,728
156%
$20,334
38%
60%
12
 Denver, CO
5.8
$274,000
$54,800
$61,019
90%
$13,265
22%
35%
13
 Greenville, SC
5.7
$160,000
$32,000
$43,469
74%
$7,746
18%
28%
14
 San Luis Obispo, CA
5.5
$435,500
$87,100
$55,920
156%
$21,084
38%
60%
15
 Santa Rosa, CA
5.5
$417,500
$83,500
$60,833
137%
$20,213
33%
53%
16
 Oakland, CA (D)
5.4
$480,000
$96,000
$71,366
135%
$23,239
33%
52%
17
 Ventura, CA
5.4
$460,000
$92,000
$72,803
126%
$22,270
31%
49%
18
 Santa Barbara, CA
5.4
$430,000
$86,000
$58,010
148%
$20,818
36%
57%
19
 Napa, CA
5.4
$430,000
$86,000
$64,884
133%
$20,818
32%
51%
20
 Naples, FL
5.3
$301,500
$60,300
$55,205
109%
$14,597
26%
42%
21
 West Palm Beach, FL (D)
5.3
$250,000
$50,000
$53,708
93%
$12,103
23%
36%
22
 Austin, TX
5.3
$228,900
$45,780
$59,973
76%
$11,082
18%
29%
23
 Kennewick, WA
5.3
$196,245
$39,249
$55,469
71%
$9,501
17%
27%
24
 Bremerton, WA
5.2
$248,250
$49,650
$59,318
84%
$12,019
20%
32%
25
 Sarasota, FL
5.2
$185,000
$37,000
$46,818
79%
$8,957
19%
30%
26
 Washington D.C., DC (D)
5.1
$362,604
$72,521
$91,467
79%
$17,555
19%
31%
27
 Philadelphia, PA (D)
5.1
$233,514
$46,703
$59,944
78%
$11,305
19%
30%
28
 Miami, FL (D)
5.1
$210,000
$42,000
$43,212
97%
$10,167
24%
37%
29
 Houston, TX
5.1
$186,300
$37,260
$58,889
63%
$9,020
15%
24%
30
 San Antonio, TX
5.1
$173,300
$34,660
$51,131
68%
$8,390
16%
26%
31
 Salt Lake City, UT
5.0
$224,154
$44,831
$60,970
74%
$10,852
18%
28%
32
 Dallas, TX (D)
5.0
$199,700
$39,940
$60,935
66%
$9,668
16%
25%
33
 Spokane, WA
5.0
$167,000
$33,400
$46,910
71%
$8,085
17%
27%
34
 Corpus Christi, TX
5.0
$154,800
$30,960
$45,665
68%
$7,494
16%
26%
35
 Jackson, MS
5.0
$149,333
$29,867
$43,218
69%
$7,230
17%
27%
36
 Sherman, TX
5.0
$125,500
$25,100
$48,853
51%
$6,076
12%
20%
 
Underpriced in Comparison to History (4.9 or less)
37
 Riverside-San Bernardino, CA
4.9
$235,000
$47,000
$54,230
87%
$11,377
21%
33%
38
 Atlantic City, NJ
4.8
$220,806
$44,161
$52,690
84%
$10,690
20%
32%
39
 Olympia, WA
4.8
$215,000
$43,000
$60,488
71%
$10,409
17%
27%
40
 Fort Lauderdale, FL (D)
4.8
$210,000
$42,000
$49,958
84%
$10,167
20%
32%
41
 Salem, OR
4.8
$159,745
$31,949
$44,915
71%
$7,734
17%
27%
42
 Fort Collins, CO
4.6
$235,500
$47,100
$56,027
84%
$11,401
20%
32%
43
 Greeley, CO
4.6
$207,250
$41,450
$54,826
76%
$10,034
18%
29%
44
 Fort Myers, FL
4.5
$160,000
$32,000
$44,095
73%
$7,746
18%
28%
45
 Hilton Head-Beaufort, SC
4.4
$381,000
$76,200
$90,110
85%
$18,446
20%
33%
46
 Monterey, CA
4.4
$370,000
$74,000
$56,568
131%
$17,913
32%
50%
47
 Sacramento, CA
4.4
$260,000
$52,000
$59,085
88%
$12,588
21%
34%
48
 Nassau, NY (D)
4.3
$391,389
$78,278
$91,045
86%
$18,949
21%
33%
49
 Newark-Union, NJ (D)
4.3
$386,434
$77,287
$72,052
107%
$18,709
26%
41%
50
 Redding, CA
4.3
$189,000
$37,800
$42,717
88%
$9,150
21%
34%
51
 Charlotte, NC
4.3
$183,000
$36,600
$51,828
71%
$8,860
17%
27%
52
 Oklahoma City, OK
4.3
$151,930
$30,386
$51,715
59%
$7,356
14%
23%
53
 Spartanburg, SC
4.3
$129,649
$25,930
$42,148
62%
$6,277
15%
24%
54
 Nashville, TN
4.2
$167,900
$33,580
$52,795
64%
$8,129
15%
24%
55
 Durham, NC
4.1
$210,000
$42,000
$50,548
83%
$10,167
20%
32%
56
 Brownsville, TX
4.1
$116,700
$23,340
$33,765
69%
$5,650
17%
27%
57
 New York, NY (D)
4.0
$466,835
$93,367
$61,638
151%
$22,601
37%
58%
58
 Ocean City, NJ
4.0
$229,526
$45,905
$51,068
90%
$11,112
22%
35%
59
 Portland, ME
4.0
$226,687
$45,337
$54,094
84%
$10,975
20%
32%
60
 Charleston, SC
4.0
$205,000
$41,000
$48,706
84%
$9,925
20%
32%
61
 Colorado Springs, CO
4.0
$199,000
$39,800
$55,566
72%
$9,634
17%
28%
62
 Milwaukee, WI
3.9
$195,411
$39,082
$52,504
74%
$9,461
18%
29%
63
 Dover, DE
3.9
$188,741
$37,748
$54,459
69%
$9,138
17%
27%
64
 Phoenix, AZ
3.9
$185,000
$37,000
$53,272
69%
$8,957
17%
27%
65
 Fort Worth, TX (D)
3.9
$161,368
$32,274
$57,278
56%
$7,812
14%
22%
66
 Bloomington, IN
3.9
$139,612
$27,922
$37,955
74%
$6,759
18%
28%
67
 Melbourne, FL
3.9
$136,000
$27,200
$46,559
58%
$6,584
14%
22%
68
 Florence, SC
3.9
$132,908
$26,582
$37,785
70%
$6,435
17%
27%
69
 Lakeland, FL
3.9
$118,000
$23,600
$41,936
56%
$5,713
14%
22%
70
 Madison, WI
3.8
$215,292
$43,058
$58,180
74%
$10,423
18%
28%
71
 Asheville, NC
3.8
$177,496
$35,499
$42,210
84%
$8,593
20%
32%
72
 Pensacola, FL
3.8
$147,497
$29,499
$44,372
66%
$7,141
16%
26%
73
 Edison, NJ (D)
3.7
$258,000
$51,600
$78,169
66%
$12,491
16%
25%
74
 El Paso, TX
3.7
$136,500
$27,300
$38,196
71%
$6,608
17%
28%
75
 Trenton, NJ
3.6
$268,339
$53,668
$71,967
75%
$12,991
18%
29%
76
 Reno, NV
3.6
$215,000
$43,000
$54,856
78%
$10,409
19%
30%
77
 Richmond, VA
3.6
$195,000
$39,000
$54,491
72%
$9,441
17%
28%
78
 Bakersfield, CA
3.6
$155,000
$31,000
$45,861
68%
$7,504
16%
26%
79
 Jacksonville, FL
3.5
$150,000
$30,000
$53,054
57%
$7,262
14%
22%
80
 Orlando, FL
3.5
$149,900
$29,980
$47,787
63%
$7,257
15%
24%
81
 Little Rock, AR
3.4
$141,188
$28,238
$47,260
60%
$6,835
14%
23%
82
 Tampa, FL
3.4
$134,500
$26,900
$45,555
59%
$6,512
14%
23%
83
 Albuquerque, NM
3.3
$180,858
$36,172
$45,399
80%
$8,756
19%
31%
84
 Boise City, ID
3.3
$154,830
$30,966
$48,975
63%
$7,496
15%
24%
85
 Indianapolis, IN
3.3
$135,246
$27,049
$51,505
53%
$6,548
13%
20%
86
 Akron, OH
3.3
$134,600
$26,920
$47,946
56%
$6,517
14%
22%
87
 Virginia Beach, VA
3.2
$198,173
$39,635
$53,872
74%
$9,594
18%
28%
88
 Columbus, OH
3.2
$153,000
$30,600
$53,562
57%
$7,407
14%
22%
89
 Tacoma, WA (D)
3.1
$209,000
$41,800
$59,014
71%
$10,119
17%
27%
90
 Raleigh-Cary, NC
3.1
$202,000
$40,400
$58,876
69%
$9,780
17%
26%
91
 Panama City, FL
3.1
$156,572
$31,314
$45,531
69%
$7,580
17%
26%
92
 Madera, CA
3.1
$150,000
$30,000
$43,790
69%
$7,262
17%
26%
93
 Columbus, IN
3.1
$132,337
$26,467
$48,119
55%
$6,407
13%
21%
94
 Baltimore, MD
3.0
$231,000
$46,200
$68,474
67%
$11,184
16%
26%
95
 Des Moines, IA
3.0
$170,667
$34,133
$60,705
56%
$8,263
14%
22%
96
 Vero Beach, FL
3.0
$134,300
$26,860
$44,542
60%
$6,502
15%
23%
97
 Gary, IN (D)
3.0
$130,442
$26,088
$49,785
52%
$6,315
13%
20%
98
 Yuma, AZ
3.0
$125,000
$25,000
$38,625
65%
$6,052
16%
25%
99
 Boston, MA
2.8
$366,822
$73,364
$72,372
101%
$17,759
25%
39%
100
 Wilmington, DE (D)
2.8
$213,073
$42,615
$62,462
68%
$10,316
17%
26%
101
 Wilmington, NC
2.8
$188,000
$37,600
$44,515
84%
$9,102
20%
33%
102
 Tucson, AZ
2.7
$167,000
$33,400
$45,741
73%
$8,085
18%
28%
103
 Birmingham, AL
2.7
$160,805
$32,161
$45,792
70%
$7,785
17%
27%
104
 Fresno, CA
2.7
$160,000
$32,000
$44,976
71%
$7,746
17%
27%
105
 Knoxville, TN
2.7
$147,646
$29,529
$42,584
69%
$7,148
17%
27%
106
 Tulsa, OK
2.7
$146,069
$29,214
$50,172
58%
$7,072
14%
22%
107
 Killeen, TX
2.7
$128,174
$25,635
$48,832
52%
$6,205
13%
20%
108
 Yuba-Sutter, CA
2.6
$175,000
$35,000
$46,798
75%
$8,472
18%
29%
109
 Bend, OR
2.6
$165,466
$33,093
$48,933
68%
$8,011
16%
26%
110
 Visalia-Porterville, CA
2.6
$141,500
$28,300
$43,075
66%
$6,851
16%
25%
111
 Cleveland, OH
2.6
$130,000
$26,000
$47,779
54%
$6,294
13%
21%
112
 Wichita, KS
2.6
$123,027
$24,605
$49,570
50%
$5,956
12%
19%
113
 Stockton, CA
2.5
$197,500
$39,500
$52,270
76%
$9,562
18%
29%
114
 Modesto, CA
2.5
$170,000
$34,000
$49,393
69%
$8,230
17%
26%
115
 Las Vegas, NV
2.5
$165,000
$33,000
$52,980
62%
$7,988
15%
24%
116
 Merced, CA
2.5
$140,000
$28,000
$41,354
68%
$6,778
16%
26%
117
 New Orleans, LA
2.4
$164,288
$32,858
$48,003
68%
$7,954
17%
26%
118
 Punta Gorda, FL
2.4
$125,900
$25,180
$44,114
57%
$6,095
14%
22%
119
 Bridgeport, CT
2.3
$386,441
$77,288
$79,153
98%
$18,709
24%
38%
120
 Vallejo-Fairfield, CA
2.3
$246,000
$49,200
$68,165
72%
$11,910
17%
28%
121
 Santa Fe, NM
2.3
$228,938
$45,788
$51,505
89%
$11,084
22%
34%
122
 Minneapolis, MN
2.3
$182,363
$36,473
$63,677
57%
$8,829
14%
22%
123
 Myrtle Beach, SC
2.3
$154,663
$30,933
$39,921
77%
$7,488
19%
30%
124
 Louisville, KY
2.3
$139,755
$27,951
$49,244
57%
$6,766
14%
22%
125
 Port St. Lucie, FL
2.3
$131,000
$26,200
$46,905
56%
$6,342
14%
22%
126
 Syracuse, NY
2.3
$129,433
$25,887
$51,447
50%
$6,266
12%
19%
127
 Columbia, SC
2.3
$118,500
$23,700
$46,182
51%
$5,737
12%
20%
128
 Mount Vernon, WA
2.2
$185,747
$37,149
$52,871
70%
$8,993
17%
27%
129
 Omaha, NE
2.2
$146,286
$29,257
$55,835
52%
$7,082
13%
20%
130
 Savannah, GA
2.2
$136,268
$27,254
$46,137
59%
$6,597
14%
23%
131
 Chattanooga, TN
2.2
$135,145
$27,029
$45,002
60%
$6,543
15%
23%
132
 Fayetteville, NC
2.2
$121,587
$24,317
$42,321
57%
$5,886
14%
22%
133
 Daytona Beach, FL
2.2
$113,000
$22,600
$43,849
52%
$5,471
12%
20%
134
 Charlottesville, VA
2.1
$225,882
$45,176
$59,985
75%
$10,936
18%
29%
135
 Baton Rouge, LA
2.0
$168,783
$33,757
$53,327
63%
$8,171
15%
24%
136
 Tallahassee, FL
2.0
$157,344
$31,469
$44,075
71%
$7,618
17%
27%
137
 Huntsville, AL
2.0
$140,968
$28,194
$52,429
54%
$6,825
13%
21%
138
 Dayton, OH
2.0
$110,377
$22,075
$46,033
48%
$5,344
12%
18%
139
 Hartford, CT
1.9
$233,779
$46,756
$66,547
70%
$11,318
17%
27%
140
 Chicago, IL (D)
1.9
$182,500
$36,500
$57,921
63%
$8,836
15%
24%
141
 Hanford, CA
1.9
$135,000
$27,000
$45,775
59%
$6,536
14%
23%
142
 Pittsburgh, PA
1.9
$131,356
$26,271
$48,669
54%
$6,359
13%
21%
143
 Clarksville, TN
1.9
$117,293
$23,459
$44,818
52%
$5,679
13%
20%
144
 Lafayette, IN
1.8
$118,695
$23,739
$42,589
56%
$5,746
13%
21%
145
 Providence, RI
1.7
$224,359
$44,872
$54,678
82%
$10,862
20%
32%
146
 Lancaster, PA
1.7
$165,650
$33,130
$54,984
60%
$8,020
15%
23%
147
 Kansas City, MO
1.7
$147,584
$29,517
$56,418
52%
$7,145
13%
20%
148
 Springfield, MO
1.7
$111,922
$22,384
$40,951
55%
$5,419
13%
21%
149
 Ocala, FL
1.7
$95,000
$19,000
$39,692
48%
$4,599
12%
18%
150
 Winchester, VA
1.6
$157,439
$31,488
$50,857
62%
$7,622
15%
24%
151
 Ogden-Clearfield, UT
1.6
$151,680
$30,336
$61,610
49%
$7,343
12%
19%
152
 Lexington, KY
1.6
$149,961
$29,992
$50,625
59%
$7,260
14%
23%
153
 Harrisburg, PA
1.6
$145,802
$29,160
$55,435
53%
$7,059
13%
20%
154
 Hagerstown, MD
1.6
$142,294
$28,459
$49,723
57%
$6,889
14%
22%
155
 Greensboro, NC
1.6
$133,302
$26,660
$42,751
62%
$6,454
15%
24%
156
 Memphis, TN
1.6
$125,133
$25,027
$45,391
55%
$6,058
13%
21%
157
 Camden, NJ (D)
1.5
$170,000
$34,000
$69,304
49%
$8,230
12%
19%
158
 St. Louis, MO
1.5
$127,696
$25,539
$51,842
49%
$6,182
12%
19%
159
 Burlington, NC
1.5
$122,216
$24,443
$42,222
58%
$5,917
14%
22%
160
 McAllen, TX
1.5
$112,800
$22,560
$35,456
64%
$5,461
15%
24%
161
 Provo-Orem, UT
1.4
$164,407
$32,881
$60,158
55%
$7,960
13%
21%
162
 Winston-Salem, NC
1.4
$132,305
$26,461
$45,342
58%
$6,405
14%
22%
163
 Vineland, NJ
1.4
$130,432
$26,086
$50,943
51%
$6,315
12%
20%
164
 Gainesville, GA
1.4
$123,155
$24,631
$47,164
52%
$5,962
13%
20%
165
 Atlanta, GA
1.4
$116,659
$23,332
$56,604
41%
$5,648
10%
16%
166
 Augusta, GA
1.4
$115,098
$23,020
$45,635
50%
$5,572
12%
19%
167
 Canton, OH
1.4
$94,090
$18,818
$43,241
44%
$4,555
11%
17%
168
 Allentown, PA
1.3
$158,000
$31,600
$57,807
55%
$7,649
13%
21%
169
 Cincinnati, OH
1.3
$134,837
$26,967
$52,823
51%
$6,528
12%
20%
170
 Gulfport-Biloxi, MS
1.3
$103,160
$20,632
$40,086
51%
$4,994
12%
20%
171
 Flint, MI
1.3
$75,086
$15,017
$41,437
36%
$3,635
9%
14%
172
 Worcester, MA
1.2
$221,775
$44,355
$66,439
67%
$10,737
16%
26%
173
 Lake-Kenosha, IL (D)
1.2
$205,432
$41,086
$71,307
58%
$9,946
14%
22%
174
 Prescott, AZ
1.2
$143,722
$28,744
$41,503
69%
$6,958
17%
27%
175
 Fayetteville, AR
1.2
$114,620
$22,924
$47,198
49%
$5,549
12%
19%
176
 York, PA
1.1
$144,380
$28,876
$57,725
50%
$6,990
12%
19%
177
 Mobile, AL
1.1
$110,503
$22,101
$43,341
51%
$5,350
12%
20%
178
 Poughkeepsie, NY
1.0
$206,101
$41,220
$71,910
57%
$9,978
14%
22%
179
 Warren, MI (D)
1.0
$88,121
$17,624
$58,384
30%
$4,266
7%
12%
180
 St. George, UT
0.9
$141,359
$28,272
$50,443
56%
$6,844
14%
22%
181
 El Centro, CA
0.9
$121,000
$24,200
$39,665
61%
$5,858
15%
23%
182
 Detroit, MI (D)
0.9
$43,504
$8,701
$40,757
21%
$2,106
5%
8%
183
 Ann Arbor, MI
0.6
$135,000
$27,000
$58,733
46%
$6,536
11%
18%