A Fun Website for Checking Affordabilityby
Can an elementary school teacher afford a median-priced house in San Diego?
Can a police officer afford a median-priced house in Miami?
Can a graphic designer afford a median-priced house in Seattle?
Answers. No. No. And ... no.
How do I know this? From a cleverly designed website put together by the Center for Housing Policy, the research arm of a 75-year-old housing-affordability advocacy group called the National Housing Conference.
The agenda of the organization is evident in the available selection of jobs that you can plug into the affordability calculator--high-paying jobs like doctor and lawyer aren't listed.
But the methodology seems perfectly sound, drawing on median-price data from the National Association of Home Builders and wage data from Salary.com.
Check out the calculator at this link.