Timing of "Fairly Priced" Homes Varies by Market | John Burns Real Estate Consulting

Timing of “Fairly Priced” Homes Varies by Market


For prices to return to their historical median ratio of housing costs / income, national prices would need to revert back to mid-2004 levels. This would be a 14% correction in price, assuming stable mortgage rates (an iffy assumption at this point). This is not a projection – just a calculation for your information. The timing varies significantly by market, however. In areas such as Charlotte and Dallas, a price correction to the levels of earlier this year or the middle of 2006 would suffice. For markets such as San Diego and Boston, the price correction would have to be all the way back to 2002.

In our June newsletter, “Resale Home Prices Are Likely to Fall in Many Markets,” we calculated the dollar amount that existing home prices would need to fall to reach a “fairly priced” level, taking into account mortgage rates (6.42% at the time) and household incomes. In markets that have had a tremendous run-up in prices, this meant a correction in excess of 30%. For some markets, it meant no correction at all.

This month, we looked at the timing of that most recent median affordability level – where our Housing Cycle Barometer™ rating (see definition below) was 5.0 – for the 50 largest housing markets in the country. Select major markets are shown in the graph above, which also displays the trends in the national median existing home price. Rising mortgage rates will push the correction date back further, and vice versa.

The table that follows provides a more detailed list of these top markets (plus Boston and Honolulu), including their current HCB rating.

METRO AREA CURRENT HCB
2007 Q2
Charleston, SC 5.1
Fort Worth, TX 5.2
Nashville, TN 5.6
Raleigh-Cary, NC 5.2
2007 Q1
Dallas, TX 5.3
Salt Lake City, UT 5.2
2006 Q2
Charlotte, NC-SC 5.1
McAllen, TX 5.6
2005 Q4
Austin, TX 5.5
Boise City, ID 5.8
2005 Q3
Honolulu, HI 5.6
Philadelphia, PA 5.7
Richmond, VA 5.6
2005 Q2
Houston, TX 5.5
San Antonio, TX 5.5
2005 Q1
Jacksonville, FL 6.1
Phoenix, AZ 6.8
St. Louis, MO 6.4
Tucson, AZ 6.7
Virginia Beach, VA 7.4
2004 Q3
Baltimore, MD 9.9
2004 Q2
United States 6.3
Denver, CO 6.6
Fort Myers, FL 6.3
Myrtle Beach, SC 6.4
Newark-Union, NJ-PA 5.5
Orlando, FL 7.3
Tampa, FL 6.4
2004 Q1
Baton Rouge, LA 6.0
Portland, OR 9.9
2003 Q4
Las Vegas, NV 7.3
2003 Q3
Chicago, IL 6.1
Edison, NJ 6.4
Los Angeles, CA 10.0
Minneapolis, MN 5.7
Oakland, CA 9.1
Riverside-San Bernardino, CA 9.1
Washington D.C. 9.5
2003 Q2
Miami, FL 8.9
2003 Q1
New York, NY 7.9
Orange County, CA 9.7
Sacramento, CA 8.0
2002 Q2
San Diego, CA 8.5
2002 Q1
Boston, MA 6.5

The Housing Cycle Barometer™ calculates the ratio between home prices and income levels, and the ratio between mortgage payments and income levels. Then, we analyze 26+ 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.

Permits Statistics
Employment Statistics
Affordability
12-
12-
Total
NF Payroll Employment
State
Metro Area
Month
S. Fam. Permits
Month
Total Permits
Permits / Peak Permits
1-Yr Growth
1-Yr Growth Rate
Unemp Rate
Median Home Price
Housing Costs / Income
Housing Cycle Barometer
Alabama
Anniston-Oxford 277 307 72.7% 100 0.2% 4.0% $94,570 24% 3.9
Auburn-Opelika 1,498 1,820 82.6% 300 0.6% 3.5% $150,939 42% 5.4
Birmingham 5,725 6,637 82.2% 4,000 0.8% 3.6% $160,099 34% 4.9
Decatur 332 332 35.2% 900 1.6% 3.7% $102,259 24% 3.6
Dothan 473 477 63.8% 1,600 2.6% 3.4% $99,537 26% 4.6
Florence 364 364 46.5% 1,500 2.6% 4.6% $101,418 26% 4.0
Gadsden 271 307 73.4% (200) (0.5%) 4.4% $94,342 24% 5.0
Huntsville 3,788 4,239 84.8% 4,600 2.3% 3.2% $130,503 25% 3.9
Mobile 2,153 2,830 100.0% 4,200 2.3% 4.1% $134,243 35% 6.0
Montgomery 1,399 1,401 53.8% 3,000 1.7% 3.9% $138,835 31% 5.2
Tuscaloosa 980 2,541 97.1% 900 0.9% 3.7% $130,204 32% 3.6
Alaska
Anchorage 417 1,094 12.2% 800 0.5% 5.5% $226,073 32% 5.2
Fairbanks 153 207 26.4% (300) (0.8%) 5.4% $176,419 28% 5.1
Arizona
Flagstaff 644 650 47.8% (300) (0.5%) 3.6% $265,758 51% 6.6
Phoenix 33,965 42,386 61.2% 61,600 3.3% 3.0% $262,500 41% 6.8
Prescott 1,831 1,935 43.2% 1,500 2.3% 3.4% $245,049 55% 6.0
Tucson 6,326 6,573 51.2% 12,100 3.3% 3.5% $237,500 45% 6.7
Yuma 1,033 1,042 38.6% (100) (0.2%) 16.2% $213,500 46% 6.4
Arkansas
Fayetteville 2,684 4,026 51.4% 5,000 2.4% 3.8% $128,549 24% 1.6
Fort Smith 765 1,066 81.1% 1,600 1.3% 5.0% $83,500 18% 0.6
Hot Springs 113 113 30.1% 800 2.1% 5.3% $127,616 30% 5.0
Jonesboro 452 587 59.7% 100 0.2% 5.5% $83,362 20% 0.6
Little Rock 3,476 3,772 65.6% 5,500 1.6% 4.5% $126,713 22% 2.7
Pine Bluff 68 73 17.7% (500) (1.3%) 7.5% $73,243 16% 0.5
California
Bakersfield 4,404 5,446 60.7% 5,800 2.5% 8.0% $240,000 45% 6.9
Chico 1,004 1,170 58.8% 2,600 3.5% 6.7% $275,000 61% 7.7
El Centro 1,083 1,438 61.1% 2,400 5.3% 16.6% $220,000 47% 6.0
Fresno 3,876 4,886 65.8% 5,600 1.8% 8.1% $269,000 52% 7.3
Hanford 658 736 54.5% 1,300 3.8% 8.3% $175,000 32% 5.6
Los Angeles 8,403 22,832 32.5% 38,000 0.9% 4.9% $580,000 96% 10.0
Madera 653 758 33.4% 1,200 3.4% 7.0% $280,000 51% 7.1
Merced 1,090 1,144 31.0% 1,000 1.7% 9.4% $282,000 51% 7.4
Modesto 1,546 1,975 31.2% 900 0.6% 8.5% $330,000 58% 8.5
Monterey 663 936 33.2% 300 0.2% 5.6% $649,000 95% 9.5
Napa 285 331 33.0% 1,100 1.7% 3.9% $580,000 81% 8.6
Oakland 4,565 8,314 36.1% 11,300 1.1% 4.7% $650,000 77% 9.1
Orange County 2,254 6,598 26.5% 5,400 0.4% 3.9% $733,000 84% 9.7
Redding 605 655 27.7% 300 0.4% 6.9% $250,000 52% 6.8
Riverside-San Bernardino 22,582 25,882 44.9% 44,900 3.5% 5.6% $382,500 64% 9.1
Sacramento 7,848 10,785 45.2% 13,200 1.5% 5.2% $369,000 56% 8.0
San Diego 4,027 7,790 17.7% 1,600 0.1% 4.6% $565,000 78% 8.5
San Francisco 835 3,004 44.6% 21,100 2.2% 4.1% $929,500 106% 10.0
San Jose 2,084 5,405 53.8% 17,700 2.0% 4.8% $785,000 79% 9.5
San Luis Obispo 934 1,382 38.4% (900) (0.9%) 4.4% $569,500 91% 8.9
Santa Barbara 455 755 27.7% 100 0.1% 4.2% $622,000 92% 8.4
Santa Cruz 473 786 55.6% 1,900 1.9% 5.0% $739,000 99% 8.9
Santa Rosa 1,202 1,915 33.0% 2,900 1.5% 4.3% $600,000 77% 8.9
Stockton 2,940 3,026 43.0% 1,100 0.5% 7.7% $360,000 67% 8.1
Vallejo-Fairfield 930 1,183 19.0% 2,000 1.5% 5.1% $415,000 51% 6.4
Ventura 952 1,588 21.1% 2,500 0.8% 4.7% $620,250 70% 8.3
Visalia-Porterville 2,717 3,135 87.0% 700 0.6% 8.6% $209,000 42% 6.3
Yuba-Sutter 1,327 1,404 46.1% (100) (0.2%) 9.3% $267,000 57% 7.9
Colorado
Boulder 335 550 10.7% 4,400 2.7% 3.3% $349,000 49% 7.6
Colorado Springs 3,289 3,648 33.1% 400 0.2% 4.3% $207,500 37% 6.4
Denver 9,899 15,728 55.1% 16,700 1.4% 3.9% $258,000 41% 6.6
Fort Collins 1,171 1,583 43.2% 2,000 1.5% 3.3% $218,750 37% 5.3
Grand Junction 1,387 1,479 72.3% 1,900 3.2% 3.2% $176,676 41% 6.0
Greeley 1,888 2,286 51.8% 2,500 3.2% 4.1% $189,950 45% 6.5
Pueblo 927 939 65.3% 1,900 3.3% 4.9% $106,517 27% 4.7
Connecticut
Bridgeport 1,432 1,982 37.6% 7,000 1.7% 4.1% $471,341 55% 3.2
Hartford 2,232 3,321 30.8% 3,500 0.6% 4.7% $258,509 36% 4.8
New Haven 947 1,449 19.8% (2,200) (0.8%) 4.8% $291,026 44% 5.2
Delaware
Dover 1,410 1,563 71.6% (1,000) (1.5%) 3.6% $201,200 40% 8.0
Wilmington 1,921 2,405 37.4% 5,800 1.6% 3.8% $240,656 35% 7.1
District of Columbia
Washington D.C. 13,916 19,267 50.7% 39,000 1.6% 3.3% $431,734 52% 9.5
Florida
Daytona Beach 1,967 2,633 33.2% 1,000 0.6% 3.9% $185,000 37% 6.0
Fort Lauderdale 2,754 5,888 30.2% 8,000 1.0% 3.4% $330,000 54% 7.7
Fort Myers 8,334 10,628 36.2% 5,700 2.5% 4.2% $245,000 42% 6.3
Fort Walton Beach 1,178 1,292 34.7% (200) (0.2%) 2.8% $217,207 33% 5.5
Gainesville 882 1,674 50.6% 2,600 2.0% 3.1% $221,536 48% 6.5
Jacksonville 8,321 12,722 50.7% 12,400 2.0% 3.8% $198,000 32% 6.1
Lakeland 4,550 5,413 39.0% 2,700 1.2% 4.1% $169,900 34% 6.0
Melbourne 2,665 3,179 32.1% (2,000) (0.9%) 4.1% $192,000 32% 6.0
Miami 4,355 12,080 45.4% 11,100 1.1% 3.4% $365,000 68% 8.9
Naples 1,822 3,554 43.6% 2,500 1.9% 4.0% $480,000 72% 8.3
Ocala 4,311 4,820 57.9% 1,100 1.1% 4.3% $158,950 36% 7.3
Orlando 16,793 24,801 68.6% 22,900 2.1% 3.6% $250,000 42% 7.3
Panama City 722 1,798 32.5% 700 0.9% 3.3% $205,016 38% 6.6
Pensacola 1,914 3,256 50.4% 400 0.2% 3.9% $166,975 31% 5.3
Port St. Lucie 3,194 3,857 35.8% 900 0.7% 5.1% $220,000 43% 7.7
Punta Gorda 1,586 2,248 39.5% 800 1.8% 4.7% $180,000 38% 6.9
Sarasota 3,188 3,758 25.9% 2,100 0.7% 3.8% $265,000 46% 8.6
Tallahassee 1,997 2,434 56.8% 2,500 1.4% 3.2% $186,441 35% 5.1
Tampa 10,784 15,174 40.0% 11,200 0.9% 3.9% $195,000 36% 6.4
Vero Beach 1,484 1,727 40.4% 200 0.4% 5.7% $229,250 45% 8.4
West Palm Beach 2,760 4,553 19.7% 11,600 2.0% 4.1% $315,000 50% 6.9
Georgia
Albany 545 659 52.3% 400 0.6% 5.5% $97,141 20% 0.8
Athens 1,374 2,180 92.5% 2,000 2.5% 4.0% $143,400 28% 0.5
Atlanta 42,634 57,315 76.4% 41,600 1.7% 4.5% $173,478 25% 4.5
Augusta 3,334 3,352 61.2% 3,300 1.6% 5.7% $118,907 22% 1.7
Brunswick 1,085 1,091 85.4% 500 1.1% 3.8% $157,853 29% 5.0
Columbus 1,307 2,070 92.2% 200 0.2% 5.4% $114,514 22% 1.0
Dalton 654 885 80.5% 500 0.6% 4.6% $117,228 21% 0.9
Gainesville 1,866 1,990 75.8% 1,800 2.5% 3.9% $153,687 26% 1.9
Hinesville 183 447 50.8% 500 2.7% 5.1% $133,959 22% 0.8
Macon 1,503 1,795 95.9% 400 0.4% 5.2% $107,651 20% 0.7
Rome 370 422 58.4% 900 2.0% 4.6% $104,406 19% 0.5
Savannah 4,102 5,179 100.0% 3,200 2.0% 4.1% $157,795 27% 5.0
Valdosta 1,161 1,318 90.2% 1,000 1.8% 4.1% $109,489 24% 1.0
Warner Robins 1,558 1,798 77.2% 1,400 2.5% 4.1% $105,968 16% 0.4
Hawaii
Honolulu 1,521 3,174 64.1% 9,000 2.0% 2.9% $627,075 76% 5.6
Idaho
Boise City 5,030 6,126 53.0% 10,000 3.7% 2.1% $212,242 35% 5.8
Coeur D’Alene 1,067 1,677 62.4% 1,300 2.3% 2.2% $204,256 39% 5.7
Idaho Falls 1,286 1,425 74.5% 1,000 1.9% 1.8% $124,688 20% 3.7
Lewiston 152 184 45.3% 300 1.1% 3.1% $151,235 31% 5.4
Pocatello 553 613 87.4% 1,600 4.1% 2.2% $113,865 21% 4.1
Illinois
Bloomington 529 716 42.2% 200 0.2% 4.0% $155,439 28% 3.5
Champaign-Urbana 743 1,940 84.6% (400) (0.4%) 4.6% $152,076 34% 6.0
Chicago 17,477 33,982 72.8% 35,400 0.9% 5.6% $255,000 40% 6.1
Danville 40 40 20.7% (100) (0.3%) 6.3% $64,234 15% 2.5
Decatur 329 415 69.7% 100 0.2% 6.0% $83,999 18% 1.4
Kankakee-Bradley 508 548 66.3% (100) (0.2%) 5.9% $134,239 26% 7.7
Lake-Kenosha 2,508 2,778 43.0% (300) (0.1%) 4.8% $273,017 36% 5.9
Peoria 1,241 1,585 81.0% 800 0.4% 4.4% $117,800 21% 5.3
Rockford 1,640 1,802 68.6% 1,000 0.6% 5.6% $117,716 23% 6.3
Springfield 508 730 47.1% (300) (0.3%) 4.6% $106,569 21% 3.5
Indiana
Anderson 301 303 39.1% (1,600) (3.7%) 6.7% $87,658 18% 2.1
Bloomington 666 766 62.8% 600 0.8% 4.4% $129,350 31% 5.1
Columbus 254 254 41.5% 1,400 3.2% 3.7% $121,166 23% 4.2
Elkhart-Goshen 747 753 45.5% (3,600) (2.7%) 4.3% $114,075 21% 3.8
Evansville 1,033 1,488 68.4% 1,200 0.7% 4.8% $98,197 20% 3.9
Fort Wayne 1,268 1,300 35.2% 2,500 1.2% 4.7% $98,804 20% 3.5
Gary 2,714 3,357 72.6% 1,400 0.5% 4.7% $132,676 26% 5.5
Indianapolis 7,741 9,062 52.7% 12,800 1.4% 4.1% $120,252 21% 1.2
Kokomo 149 175 23.6% 200 0.4% 5.1% $93,848 19% 4.1
Lafayette 670 834 45.6% 2,500 2.8% 4.2% $115,907 25% 2.4
Michigan City 347 354 59.5% 0 0.0% 4.9% $116,337 24% 5.5
Muncie 136 180 31.5% (700) (1.3%) 5.7% $81,217 19% 1.3
South Bend 750 1,465 73.7% 1,300 0.9% 4.9% $93,757 18% 2.0
Terre Haute 282 425 62.0% 1,400 1.9% 5.7% $82,848 19% 2.6
Iowa
Ames 259 398 42.1% (600) (1.3%) 3.3% $135,685 25% 0.6
Cedar Rapids 930 1,199 58.3% 700 0.5% 3.6% $132,636 23% 3.8
Davenport 698 864 56.8% (600) (0.3%) 4.1% $114,776 21% 5.0
Des Moines 3,408 4,574 72.6% 2,900 0.9% 3.4% $149,036 25% 5.0
Dubuque 345 378 43.3% 2,800 5.0% 3.7% $119,154 23% 3.5
Iowa City 733 899 53.0% 4,700 5.4% 2.9% $155,659 29% 2.0
Sioux City 224 269 22.8% 1,000 1.4% 4.0% $87,343 17% 0.6
Waterloo 416 518 61.7% (300) (0.3%) 4.1% $107,717 20% 5.3
Kansas
Lawrence 356 410 21.7% 2,200 4.3% 4.2% $157,903 30% 4.9
Topeka 710 994 72.1% 3,000 2.7% 5.0% $110,978 20% 5.0
Wichita 2,490 2,743 60.0% 12,000 4.1% 4.7% $113,458 19% 3.1
Kentucky
Bowling Green 708 840 60.6% 2,000 3.3% 5.0% $115,902 26% 1.5
Elizabethtown 763 926 68.7% (100) (0.2%) 5.3% $117,615 22% 1.8
Lexington 2,684 3,100 60.5% 5,200 2.1% 4.6% $145,298 29% 5.0
Louisville 4,865 6,066 67.8% 6,500 1.0% 5.0% $137,622 26% 5.1
Owensboro 278 310 28.3% 200 0.4% 5.5% $86,463 19% 0.8
Louisiana
Alexandria 736 736 77.4% 900 1.4% 4.8% $95,118 24% 3.7
Baton Rouge 6,014 8,334 92.0% 5,800 1.6% 4.6% $175,907 37% 6.0
Houma 665 749 60.3% 4,700 5.2% 3.4% $111,770 23% 4.3
Lafayette 1,825 2,126 41.5% 3,200 2.2% 3.5% $132,029 27% 3.8
Lake Charles 697 903 60.1% 700 0.8% 4.6% $108,855 27% 5.3
Monroe 735 937 77.7% 1,200 1.5% 5.5% $96,376 24% 2.2
New Orleans 4,751 6,973 52.5% 17,700 3.6% 5.1% $155,290 34% 5.2
Shreveport 1,486 1,509 49.2% 1,500 0.8% 5.2% $133,218 29% 5.1
Maine
Bangor 486 586 58.8% 400 0.6% 4.4% $127,007 27% 3.8
Lewiston-Auburn 276 290 33.8% 700 1.4% 4.3% $142,923 29% 4.0
Portland 2,453 2,901 50.5% 900 0.5% 3.3% $241,298 41% 5.0
Maryland
Baltimore 5,335 7,102 36.3% 3,000 0.2% 4.2% $296,136 43% 9.9
Bethesda 2,454 5,027 41.1% 6,200 1.1% 3.2% $465,000 48% 8.7
Cumberland 224 224 55.0% 600 1.5% 5.2% $108,801 25% 5.0
Hagerstown 1,992 2,237 54.1% 1,700 1.7% 4.4% $211,754 38% 6.9
Salisbury 272 531 31.6% 800 1.4% 4.4% $168,439 34% 5.6
Massachusetts
Barnstable Town 711 861 17.4% 200 0.2% 4.6% $374,720 55% 4.0
Boston 1,674 5,184 49.0% 27,600 1.6% 4.6% $414,526 50% 6.5
Cambridge 1,639 3,876 51.8% 28,100 1.1% 4.8% $432,640 46% 4.8
Pittsfield 292 292 31.6% 200 0.5% 4.7% $217,099 36% 3.5
Michigan
Ann Arbor 516 631 21.7% (1,300) (0.6%) 5.2% $203,961 32% 4.9
Battle Creek 148 208 33.4% (400) (0.6%) 7.2% $97,107 21% 5.5
Bay City 194 194 43.0% (800) (2.0%) 7.0% $99,357 22% 5.5
Detroit 1,449 1,548 24.5% (12,500) (1.5%) 9.2% $104,610 21% 2.1
Flint 645 832 24.1% (3,900) (2.5%) 8.3% $105,863 22% 5.2
Grand Rapids 1,881 2,334 46.3% 1,500 0.4% 6.3% $130,665 24% 4.4
Holland 1,068 1,208 44.0% (1,000) (0.8%) 5.9% $154,615 26% 5.2
Jackson 406 468 46.5% (700) (1.2%) 8.0% $114,820 23% 5.7
Kalamazoo 863 1,251 50.8% 400 0.3% 6.0% $125,104 24% 4.2
Lansing 705 957 30.3% (200) (0.1%) 6.2% $132,733 25% 5.2
Monroe 408 525 43.7% (300) (0.7%) 6.5% $153,333 28% 5.9
Muskegon 361 412 41.5% (1,200) (1.8%) 7.6% $99,983 22% 4.9
Niles 311 374 45.8% (500) (0.8%) 7.1% $125,771 27% 7.8
Saginaw 178 180 18.5% (1,500) (1.6%) 7.3% $115,603 26% 6.9
Warren 4,022 4,565 23.1% (18,500) (1.5%) 7.3% $178,285 27% 3.2
Minnesota
Duluth 833 1,026 59.8% 1,100 0.8% 5.7% $119,574 25% 8.5
Minneapolis 9,522 12,755 45.3% 26,900 1.5% 4.4% $239,000 34% 5.7
Rochester 697 834 41.4% 2,300 2.1% 3.9% $140,537 21% 4.1
St. Cloud 906 1,099 54.5% 2,000 2.0% 4.5% $146,784 27% 5.3
Mississippi
Gulfport-Biloxi 2,997 5,164 100.0% 8,200 8.2% 6.3% $157,890 39% 7.4
Hattiesburg 341 1,071 100.0% 1,100 1.8% 5.3% $103,333 30% 5.1
Jackson 3,340 3,606 80.0% 3,800 1.4% 5.6% $144,908 35% 5.8
Pascagoula 1,047 1,238 80.3% (900) (1.6%) 6.6% $117,721 28% 7.0
Missouri
Columbia 746 1,050 37.6% 1,400 1.6% 4.0% $133,792 29% 4.7
Jefferson City 328 382 33.2% 900 1.1% 4.5% $110,469 21% 4.2
Joplin 383 443 59.7% 500 0.6% 4.9% $86,140 23% 4.4
Kansas City 7,178 10,502 57.0% 14,500 1.4% 5.3% $150,323 26% 4.5
Springfield 2,609 4,145 81.0% 3,800 1.9% 4.2% $124,246 30% 5.0
St. Joseph 158 190 44.4% 2,800 4.9% 4.5% $92,559 20% 4.6
St. Louis 9,017 11,277 61.5% 15,200 1.1% 5.4% $180,000 33% 6.4
Montana
Billings 654 695 47.4% (200) (0.3%) 2.1% $139,300 27% 4.0
Great Falls 335 418 100.0% 300 0.8% 2.5% $117,780 24% 2.9
Missoula 522 685 60.8% 1,000 1.7% 2.3% $206,538 39% 5.1
Nebraska
Lincoln 1,127 1,441 53.3% 1,500 0.9% 3.1% $138,148 22% 3.1
Omaha 3,896 5,102 76.9% 9,300 2.0% 3.6% $137,336 21% 2.7
Nevada
Carson City 116 185 26.0% (100) (0.3%) 5.0% $258,762 43% 5.7
Las Vegas 15,828 21,490 50.0% 19,000 2.1% 4.7% $302,500 50% 7.3
Reno 2,495 2,626 41.5% 3,100 1.4% 4.4% $305,250 49% 6.8
New Hampshire
Manchester 843 1,088 15.2% 700 0.7% 4.0% $213,451 28% 4.1
New Jersey
Atlantic City 1,349 1,522 38.3% (3,900) (2.5%) 5.9% $265,508 41% 6.5
Camden 2,585 4,836 57.3% 9,900 1.8% 4.3% $231,994 27% 4.3
Edison 4,209 6,791 27.8% 5,600 0.5% 3.9% $368,556 39% 6.4
Newark-Union 3,220 6,977 75.6% 2,400 0.2% 4.4% $443,337 48% 5.5
Ocean City 600 1,150 47.3% (200) (0.4%) 4.6% $275,348 40% 4.7
Trenton 490 640 17.6% 3,600 1.5% 3.9% $313,174 33% 5.2
Vineland 639 759 100.0% (400) (0.6%) 6.3% $166,183 27% 4.6
New Mexico
Albuquerque 4,323 5,200 58.6% 5,600 1.4% 3.7% $200,000 39% 5.4
Farmington 388 396 67.5% 600 1.2% 3.6% $184,126 40% 6.0
Las Cruces 1,823 1,911 70.2% 900 1.4% 4.2% $132,350 32% 5.0
Santa Fe 336 336 26.0% 1,200 1.9% 3.1% $279,632 48% 5.1
New York
Albany 1,710 2,766 51.8% 4,400 1.0% 3.9% $208,216 32% 5.2
Binghamton 240 240 18.3% 0 0.0% 4.4% $103,665 20% 2.4
Buffalo 1,400 1,841 39.6% 5,100 0.9% 4.6% $96,308 17% 0.2
Elmira 53 72 24.3% 400 1.0% 4.8% $76,447 15% 0.1
Glens Falls 465 577 35.7% 0 0.0% 3.7% $169,366 31% 4.8
Ithaca 161 280 42.5% 300 0.5% 3.7% $139,417 26% 1.3
Kingston 482 589 41.7% 1,300 2.0% 4.1% $253,337 42% 5.3
Nassau 2,873 3,062 26.7% 7,000 0.6% 3.7% $478,262 49% 8.7
New York 3,088 40,646 97.8% 48,100 0.9% 4.9% $532,572 81% 7.9
Poughkeepsie 1,630 2,072 40.2% 2,400 0.9% 4.0% $264,356 36% 3.9
Rochester 1,744 2,051 39.7% 1,900 0.4% 4.3% $114,586 18% 1.0
Syracuse 1,249 1,636 47.6% 1,400 0.4% 4.3% $116,983 20% 2.0
Utica-Rome 471 543 41.0% (300) (0.2%) 4.1% $100,455 20% 1.2
North Carolina
Asheville 3,653 4,378 100.0% 2,500 1.5% 4.0% $185,751 40% 6.1
Burlington 1,701 1,761 86.9% 1,100 1.9% 5.7% $121,102 25% 0.6
Charlotte 18,554 24,206 96.2% 22,600 2.8% 5.1% $184,500 30% 5.1
Durham 3,146 3,561 54.7% 8,000 2.9% 4.3% $181,355 32% 5.2
Fayetteville 2,776 3,643 84.2% 2,400 1.9% 5.8% $113,343 20% 0.5
Goldsboro 477 481 69.7% 200 0.5% 5.1% $105,905 23% 0.7
Greensboro 4,164 5,545 81.7% 4,800 1.3% 5.3% $151,727 29% 2.0
Greenville 1,402 2,493 96.7% 2,700 3.7% 5.9% $116,381 25% 0.8
Hickory 1,577 1,683 69.2% (800) (0.5%) 6.2% $112,727 24% 1.8
Jacksonville 1,664 1,900 92.9% 1,800 4.1% 5.1% $139,073 27% 4.6
Raleigh-Cary 12,796 15,778 89.1% 11,400 2.3% 4.0% $205,000 31% 5.2
Rocky Mount 617 640 62.1% 2,300 3.7% 6.8% $97,215 20% 0.4
Wilmington 5,345 6,389 69.4% 6,400 4.5% 4.2% $220,264 43% 6.4
Winston-Salem 3,687 3,712 83.6% 3,000 1.4% 4.8% $131,377 24% 0.6
North Dakota
Bismarck 743 952 86.9% 1,300 2.2% 3.2% $131,291 21% 2.8
Fargo 1,200 1,905 67.5% 2,700 2.3% 3.2% $140,381 26% 5.0
Grand Forks 164 489 72.6% 1,300 2.5% 3.9% $124,949 26% 4.9
Ohio
Akron 1,449 1,819 45.3% 3,700 1.1% 5.9% $149,900 27% 5.7
Canton 696 754 48.5% (1,000) (0.6%) 6.4% $107,565 21% 1.3
Cincinnati 6,069 7,544 48.5% 2,500 0.2% 5.6% $153,250 26% 2.8
Cleveland 3,835 4,524 56.5% (5,600) (0.5%) 6.3% $131,006 23% 0.6
Columbus 4,620 6,696 39.1% 1,900 0.2% 5.4% $150,000 25% 4.7
Dayton 1,648 1,917 46.1% (4,800) (1.2%) 6.5% $122,522 22% 2.7
Lima 142 150 29.7% (1,000) (1.7%) 6.9% $96,947 20% 3.2
Mansfield 182 203 33.7% (500) (0.8%) 7.2% $101,157 20% 2.6
Sandusky 24 4.2% 300 0.7% 5.6% $127,412 22% 2.8
Springfield 176 276 40.2% 600 1.1% 6.6% $100,707 19% 1.5
Toledo 1,364 1,682 40.7% 0 0.0% 6.6% $109,105 21% 2.1
Youngstown 672 798 42.0% (4,100) (1.7%) 6.7% $81,346 17% 0.8
Oklahoma
Lawton 263 847 77.4% 0 0.0% 5.0% $95,530 19% 1.3
Oklahoma City 5,780 6,176 28.5% 17,700 3.1% 4.6% $136,710 27% 5.7
Tulsa 4,487 5,040 41.3% 4,600 1.1% 4.4% $130,722 27% 5.1
Oregon
Bend 2,088 2,264 50.8% 2,100 2.9% 4.4% $286,382 52% 9.3
Corvallis 258 302 38.0% 900 2.3% 3.9% $236,386 41% 5.4
Eugene 1,183 1,548 55.9% 1,200 0.8% 5.1% $241,475 50% 8.8
Medford 1,088 1,349 63.1% 1,700 2.0% 5.6% $242,092 49% 6.3
Portland 9,125 13,959 70.6% 14,400 1.4% 4.8% $288,500 48% 9.9
Salem 1,600 2,188 64.9% 1,800 1.2% 5.2% $229,951 44% 7.0
Pennsylvania
Allentown 3,243 3,468 64.1% 6,300 1.8% 4.2% $260,884 40% 8.1
Altoona 221 226 45.6% 0 0.0% 4.1% $93,054 20% 2.4
Erie 707 824 81.0% 1,200 0.9% 4.6% $99,210 19% 0.6
Harrisburg 1,674 1,802 48.4% 5,100 1.5% 3.6% $149,545 23% 3.5
Johnstown 153 210 56.3% 400 0.6% 5.5% $81,926 19% 1.7
Lancaster 1,529 1,752 48.5% 2,700 1.1% 3.4% $172,274 27% 4.1
Lebanon 555 557 65.9% 400 0.8% 3.3% $137,176 24% 4.2
Philadelphia 6,018 8,973 50.4% 12,100 0.6% 4.3% $231,277 32% 5.7
Pittsburgh 3,975 5,503 77.7% 4,500 0.4% 4.3% $117,665 21% 0.7
Reading 1,035 1,102 50.5% 800 0.5% 4.2% $152,130 25% 5.1
Scranton 1,174 1,315 60.4% 2,000 0.8% 4.8% $123,184 24% 3.6
State College 457 472 42.8% 500 0.7% 3.5% $152,855 30% 2.7
Williamsport 269 281 52.8% 200 0.4% 4.8% $112,380 22% 1.7
York 2,247 2,449 71.4% 3,400 1.9% 3.7% $167,989 28% 4.3
Rhode Island
Providence 2,603 3,502 29.8% 100 0.0% 4.9% $294,960 47% 6.9
South Carolina
Anderson 1,224 1,602 83.0% 600 1.0% 6.1% $106,857 23% 3.3
Charleston 6,220 7,664 70.8% 11,000 3.9% 4.6% $193,625 36% 5.1
Columbia 6,343 7,907 97.4% 6,600 1.8% 5.1% $126,150 24% 4.7
Florence 852 852 64.9% 1,200 1.4% 6.3% $102,744 23% 2.7
Greenville 4,752 5,703 100.0% 6,200 2.0% 5.1% $140,000 28% 5.6
Myrtle Beach 4,847 6,923 55.2% 5,200 4.0% 4.1% $207,722 46% 6.4
Spartanburg 1,916 1,916 69.4% 100 0.1% 6.0% $120,900 26% 5.2
Sumter 704 1,050 100.0% (100) (0.3%) 7.2% $107,525 24% 4.0
South Dakota
Rapid City 683 1,055 76.7% 1,700 2.7% 2.6% $125,300 23% 4.6
Sioux Falls 1,612 2,402 95.3% 4,800 3.6% 2.3% $137,016 23% 2.7
Tennessee
Chattanooga 2,625 3,048 79.6% 1,200 0.5% 3.9% $135,441 27% 3.5
Clarksville 2,041 3,252 100.0% 400 0.5% 5.2% $105,218 21% 1.1
Cleveland 687 785 83.1% 100 0.2% 4.2% $117,062 26% 3.6
Jackson 508 612 54.7% 1,900 3.1% 4.6% $98,914 22% 0.7
Johnson City 1,218 1,313 85.1% 1,600 2.0% 4.2% $116,328 29% 2.5
Kingsport 964 1,043 62.8% 800 0.7% 4.2% $112,913 27% 3.2
Knoxville 4,963 5,651 87.6% 3,800 1.1% 3.4% $155,206 33% 5.2
Memphis 7,389 9,146 78.2% 8,400 1.3% 5.0% $141,979 29% 3.6
Morristown 670 681 89.0% (500) (1.0%) 4.4% $114,984 30% 5.1
Nashville 12,895 14,603 79.5% 9,900 1.3% 3.7% $164,900 29% 5.6
Texas
Abilene 330 356 16.7% 800 1.2% 4.0% $121,200 29% 6.3
Amarillo 633 1,109 29.9% 1,300 1.2% 3.7% $117,700 27% 5.4
Austin 14,577 20,862 77.3% 29,000 4.0% 3.8% $190,900 34% 5.5
Beaumont 1,166 2,296 92.2% 3,600 2.2% 5.6% $131,700 27% 5.9
Brownsville 2,164 2,309 58.9% 1,300 1.1% 6.5% $110,000 33% 5.6
College Station 823 1,970 55.6% 800 0.9% 4.4% $138,800 35% 5.0
Corpus Christi 1,747 2,214 36.0% 3,900 2.2% 4.7% $143,300 30% 5.6
Dallas 22,271 31,000 41.9% 61,400 3.0% 4.4% $172,400 29% 5.3
El Paso 3,639 4,613 71.3% 5,600 2.1% 6.2% $138,900 33% 5.6
Fort Worth 12,041 16,768 43.5% 22,400 2.7% 4.4% $117,300 21% 5.2
Houston 49,142 68,321 90.9% 76,500 3.1% 4.4% $159,500 28% 5.5
Killeen 2,686 3,928 83.6% 200 0.2% 5.1% $120,871 24% 5.0
Laredo 1,665 2,297 89.9% 3,100 3.7% 5.3% $104,440 28% 3.9
Longview 305 597 37.6% 1,300 1.4% 4.4% $116,800 25% 5.1
Lubbock 1,110 1,453 34.9% 5,700 4.5% 4.1% $107,200 26% 5.0
Mcallen 5,706 6,728 72.2% 6,500 3.2% 6.9% $123,900 40% 5.6
Midland 496 496 12.8% 2,500 4.0% 3.2% $119,573 23% 5.2
Odessa 231 231 11.0% 2,200 3.9% 3.8% $131,700 30% 5.7
San Angelo 352 472 30.5% (100) (0.2%) 4.0% $110,000 25% 5.5
San Antonio 11,394 15,933 68.7% 17,200 2.1% 4.4% $156,900 32% 5.5
Sherman 242 332 30.5% 900 2.0% 4.6% $107,900 23% 5.5
Texarkana 202 349 41.3% (200) (0.4%) 4.9% $79,157 18% 0.5
Tyler 468 559 18.9% 600 0.6% 4.4% $142,500 30% 5.4
Victoria 188 188 10.5% 1,000 2.0% 4.0% $125,000 25% 5.4
Waco 985 1,049 35.1% 1,900 1.8% 4.8% $119,600 28% 4.8
Wichita Falls 260 360 40.2% 600 1.0% 4.4% $97,300 20% 4.1
Utah
Logan 934 1,039 74.0% 1,200 2.3% 2.4% $145,884 26% 1.5
Ogden-Clearfield 3,835 4,103 79.2% 7,300 3.7% 3.0% $171,167 24% 2.8
Provo-Orem 5,154 6,074 93.6% 10,200 5.7% 2.8% $200,168 32% 4.8
Salt Lake City 5,507 6,878 55.4% 28,000 4.5% 2.8% $222,965 30% 5.2
St. George 1,937 2,123 55.2% 2,400 4.6% 2.9% $226,796 44% 5.2
Virginia
Charlottesville 1,137 1,503 57.0% 2,000 2.0% 2.8% $246,779 42% 6.0
Danville 229 257 49.1% 500 1.2% 6.4% $93,890 23% 2.7
Harrisonburg 772 818 66.3% 1,800 2.8% 2.9% $192,481 39% 5.9
Lynchburg 1,602 1,626 85.7% 2,700 2.5% 3.7% $146,313 31% 5.3
Richmond 6,403 7,272 63.7% 10,200 1.6% 3.2% $217,500 36% 5.6
Roanoke 986 1,032 53.5% 2,000 1.2% 3.2% $151,516 29% 5.4
Virginia Beach 5,270 7,261 30.6% 9,700 1.2% 3.4% $240,447 40% 7.4
Winchester 1,004 1,046 58.7% 1,700 2.9% 3.0% $213,596 40% 5.4
Washington
Bellingham 1,083 1,517 59.4% 2,800 3.4% 4.0% $268,152 51% 6.8
Bremerton 1,248 1,300 50.3% (1,000) (1.1%) 4.4% $299,280 46% 7.6
Kennewick 1,479 1,485 45.5% 3,300 3.8% 4.5% $166,134 29% 5.7
Longview 598 705 100.0% 800 2.1% 5.7% $182,135 36% 6.4
Mount Vernon 879 976 85.2% 800 1.7% 4.4% $246,675 46% 6.9
Olympia 2,091 2,770 86.5% 2,000 2.0% 4.2% $250,000 40% 8.3
Seattle 10,264 20,446 73.9% 40,200 2.8% 4.1% $435,000 62% 10.0
Spokane 2,210 3,089 69.7% 5,300 2.5% 4.3% $191,482 39% 7.6
Tacoma 4,207 5,634 82.0% 4,400 1.6% 4.7% $277,000 47% 9.0
Wenatchee 906 1,082 100.0% 800 2.0% 3.8% $229,829 45% 6.3
Yakima 667 706 75.2% 2,000 2.5% 4.9% $138,989 30% 4.6
West Virginia
Charleston 475 639 75.6% 1,400 0.9% 4.0% $118,660 23% 0.7
Huntington 394 711 100.0% 1,800 1.5% 5.1% $92,959 22% 1.0
Morgantown 137 146 88.5% 2,700 4.7% 3.3% $131,309 28% 0.8
Parkersburg 237 261 59.6% 1,100 1.5% 5.0% $87,480 19% 0.8
Weirton 62 128 68.4% 800 1.7% 6.6% $86,316 19% 4.3
Wheeling 33 99 33.9% 800 1.2% 5.3% $80,150 18% 0.6
Wisconsin
Appleton 722 882 40.5% 2,500 2.1% 5.1% $127,430 22% 5.3
Eau Claire 534 648 45.6% 1,600 1.9% 5.1% $121,910 28% 6.3
Fond Du Lac 271 326 52.7% (200) (0.4%) 5.2% $125,999 25% 5.8
Green Bay 1,527 2,004 64.4% 300 0.2% 5.2% $145,265 29% 5.9
Janesville 632 782 61.0% (1,400) (1.9%) 5.7% $126,515 26% 6.7
La Crosse 417 596 70.3% 500 0.7% 4.5% $126,152 27% 5.8
Madison 1,546 3,018 49.3% 8,100 2.3% 4.1% $225,589 40% 7.3
Milwaukee 2,208 3,604 42.0% 11,000 1.3% 5.7% $206,413 40% 7.4
Oshkosh-Neenah 426 639 43.8% (400) (0.4%) 5.2% $124,187 24% 5.5
Racine 433 523 40.9% 400 0.5% 6.3% $160,245 30% 7.0
Sheboygan 212 331 45.2% (600) (0.9%) 4.5% $138,231 26% 5.8
Wausau 410 649 46.5% 600 0.8% 4.9% $125,904 24% 5.8
Wyoming
Casper 391 391 49.1% 1,200 3.0% 2.9% $137,798 27% 5.2
Cheyenne 368 370 42.2% 1,500 3.4% 3.9% $137,130 24% 2.0

 


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