Housing Affordabilityin Metro Atlanta

February 2015

Overall home prices and values in Metro Atlanta arerelatively low when compared to other metro areas....

BUT cost of living plays a role in these rankings- metro Atlantahas a low cost-of-living, so we should expect lower home pricescompared to higher cost-of-living metros.

Bottom

$167,500

(in the second lowest tier) among the 100largest metros in the nation..

For the median sale price of a home,Metro Atlanta ranks near the

In Quarter 3, 2014, metro Atlanta's median sales price for a single family unit was

From 2013-2014, Atlantaexperienced one of the

largest increasesin median sales price in the

nation, up some 10%!

Transportation plays a key role in assessing overallaffordability......

"moderate-income" households. affordability among the 25 largest metros for

According to the The Center for NeighborhoodTechnology, metro Atlanta has the

Often, most affordable housingoptions are located far away from

key job centers. Thus, when theadditional transportation costs are

added to housing costs, the moresuburban or exurban housing choice

becomes less affordable.

Housing+Transportation Costs for"Moderate-Income" Households

6th worst

The center for NeighborhoodTechnology suggests a thresholdof no more than 45% of incomebe spent on transportation andhousing costs

At the neighborhood level, affordability is determined by amultitude of factors, including simple supply and demandnear job centers....

In the Atlanta region, many of thelargest employment centers also havesome of the region's most expensivehousing.

The purplecircles

represent theregion's largest

employmentcenters

Locations of Major Employment Centers+HousingValues

A lack of housingoptions in these areasdrives up the prices.

Renters have a particularly hard time findingaffordable options.

Renters spending more than 30% of income on housing costsThe average-priced 2 BR apartmentoften

consumes more than 60%of the average renter's income, NOT factoringin increased transportation costs.

In metro Atlanta, lowerincome households oftenhave to spend well over30% of their income on

housing costs.

About the Data (and additional information):Overall home prices - National Association of Realtors

Housing Opportunity Index-National Association of Home Builders

Location Affordability Portal - HUD

"Out of Reach, 2014"- National Low Income Housing Coalition

American Community Survey, 2009-2013

The H+T Index- The Center for Neighborhood Technology