Many Young Renters Can Afford Monthly Cost of Owning a Home in Their Metro

An interactive map from the Harvard Joint Center for Housing Studies

Affordable owner costs are monthly mortgage payments, insurance, and taxes that do not exceed 35% of incomes. Mortgages assume a 5% downpayment, a 30-year fixed-rate mortgage at 2013 interest rates on the median priced home for that metro.Many Young Renters Can Afford Monthly Cost of Owning a Home in Their Metro

Source: JCHS tabulations of US Census Bureau, 2012 American Community Survey; Freddie Mac, Primary Mortgage Market Survey; NAR, Median Existing Single-Family Home Sales Price.

www.jchs.harvard.edu

 

 

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