Saturday, May 25, 2013
Honolulu housing remains the least affordable in U.S.
POSTED: 07:41 a.m. HST, Feb 12, 2013
LAST UPDATED: 06:39 p.m. HST, Feb 12, 2013
Honolulu has the lowest housing affordability rating in the U.S., according to the National Association of Realtors.
The trade group’s index of housing affordability in 150 markets for 2012 puts Honolulu dead last with a rating of 73.7, meaning a household with a median income would have only 73.7 percent of the income needed to qualify for a median-priced, existing single-family home. Honolulu’s rating rose 8.2 percent from 2011.
The Detroit-Warren-Livonia market in Michigan is No. 1 in affordability, with a rating of 571.1 for 2012.
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