To find out, we’ve compared each city’s median home price to its annual median family income.
Here are the results:
Did you know: The Twin Cities is currently one of the most affordable major city housing
markets in the nations!
The Twin Cities enjoy one of the highest home-ownership rates in the country.
Why is this? One reason is affordability.
The home price to income ratio is used to measure a region’s affordability. To arrive at this ratio, take a region’s median sale price and divide that number by the region’s annual median household income. The Twin Cities’ ratio is 2¾ to 1. Compare that to San Francisco’s 14 to 1 ratio! It’s no wonder home ownership is 40% in San Francisco County, while it is 65% in Hennepin County!
Whether you are moving from San Francisco to Denver, Minneapolis to Atlanta, or Plymouth to Minnetonka – please don’t hesitate to contact us – we are happy to help!