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Housing Affordability Rose Slightly in November

Mortgage News > Housing Affordability Rose Slightly in November
Date: 01/19/2021    Housing Affordability Rose Slightly in November

Being a homeowner was a little more affordable in November from the previous month, according to the National Association of Realtors. Their housing affordability showed that mortgage payments as a percentage of U.S. income fell to 14.9%, compared with 15.0% in October. Broken down by region, the Midwest remains the most affordable with just 11.6% of the median income going towards housing, while the West was by far the least affordable as residents contribute an average of 20.9% their income to their mortgage.

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