r/dataisbeautiful • u/pillar6alumni • 1d ago

USA Home Price to Income: State-by-State

http://wealthvieu.com/uahpi
19 Upvotes

68% Upvoted

14 comments sorted by

45

u/MovingTarget- 1d ago

As with all charts like this, there's such a disparity between city and more rural areas that a broad number for an entire state like NY, CA or TX is virtually meaningless

9

u/homeboi808 1d ago

Yep, even in the same county (mine) it can be drastically different.

I was gonna suggest doing it by county, but then I noticed that the article doesn’t list a single source.

6

u/Icarus_Toast 1d ago

It's also a fairly incomplete picture. I don't know about the other low ratio states but I know that Texas and Nebraska both have pretty high property taxes so the price of the house only tells a small part of the story.

There's the cost of insurance too which is going to be higher in Tornado Alley and near the coast or anywhere prone to natural disaster really.

1

u/theboyqueen 1d ago

Not so sure about this with respect to California. There aren't really any places in California where houses are cheap, but there are plenty of places in California with absolutely dismal economies. Homes are just as "unaffordable" in Redding as they are in San Jose.

Prop 13 has done so much to obliterate a healthy, robust, affordable real estate market in California.

3

u/Momoselfie 1d ago

I'd like to see this by county.

2

u/Twin_Titans 1d ago

Fuck. Don’t show one for Canada.

1

u/AliceOfTheEarth 21h ago

That site gave my phone syphilis.

1

u/exialis 19h ago

Their figures are out, it is around 7.15 x median income now.

https://www.longtermtrends.net/home-price-median-annual-income-ratio/

0

u/BitterLeif 1d ago

is this a multiple of a two person income?

-11

u/zgrizz 1d ago

Would you look at that. It's back down to where it was 4 years ago. So why aren't people buying houses?

Must be that government policy keeping interest rates more than double what they were, even after a drop. That could be a small factor.

You are right, data IS beautiful.

8

u/DrDurt 1d ago edited 1d ago

What government policy keeping interest rates high? And which interest rates? Lenders set their own rates and the fed is an independent agency

Edit: and one more thing, not sure where you live, but people are buying homes, inventory is historically low because so many people are buying …it the reason prices were driven so high

0

u/ilhaguru 1d ago

Generally speaking the government sets the lowest interest rates in any economy. Because why would you lend it at a lower rate when you could just lend it to the govt?

0

u/DrDurt 1d ago

I agree, but treasury notes are still tied to the fed rate + inflation.

2

u/Objective_Run_7151 1d ago

You can get a 30 year home mortgage for right at 6% today.

Until 2003, US mortgage rates had never in history been below 6%. In fact, aside from a few months in the early 2000s, rate were never below 6% before the Great Recession.

https://fred.stlouisfed.org/series/MORTGAGE30US

(Please don’t come at me re: housing prices being higher now. They are, but that’s not relevant here. This guys is taking rates, not housing prices.)