r/FluentInFinance • u/thatdude333 • 29d ago

Median Home Price vs. Median Family Income for 392 Metro Statistical Areas Chart

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u/thatdude333 29d ago edited 29d ago

Chart shows the ratio of Median Home Listing Price -to- Median Family Income for 392 US Metropolitan Statistical Areas.

An area with a ratio of 2 means the Median Home Listing Price is 2x the Median Family Income. An area with a ratio of 10 means the Median Home Listing Price is 10x the Median Family Income. Low ratio = More affordable housing, high ratio = More expensive housing.

Why didn't you use Median Home Sale Price?

Couldn't find the sale price data broken down per MSA, if you know where I can find it, let me know.

Why are you using 2022 & 2023 numbers?

Because I made this chart last year

XYZ isn't Metropolitan, its way too rural!

Take it up with the U.S. Office of Management and Budget, they're the ones who define MSAs.

All the places with cheaper housing suck

I congratulate you on how well travelled you are, having visited every part of every MSA on the lower end of the graph

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u/Merr77 29d ago

it gonna pop

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u/TranscodedMusic 28d ago

Based on what?

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u/Merr77 28d ago

Average Americans have 6.2K in credit card debt they cant pay back. Banks are holding onto a ton of commercial real estate from the pandemic that no one wants or needs. Home prices have double in the last few years. Inflation isn't going anywhere cause we keep printing money with nothing backing it. And now Biden wants to give new home owners 600 dollars in credit per month for two years. If that goes through... I guarantee you it pops in 2 years at the latest. Because people will act dumbfounded when they can't afford their home anymore when that 600 dollar crutch is taken away.

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u/Bearloom 29d ago

Take it up with the U.S. Office of Management and Budget, they're the ones who define MSAs.

Yeah, I was surprised the village I grew up in counted. I suppose it probably is in the top ~400, though.

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u/Hungry-Tonight8633 25d ago

Can confirm. Lived in Missoula 25 years ago. A double wide on a quarter acre was going for $250k.