blockitecture leaderboard

Breaking Down Housing Affordability for Teachers

As coastal real estate markets—especially in California—grow more expensive, it’s harder for teachers to afford a home. A recent article breaks down the affordability of homes for teachers around the country.

Conor Dougherty provides analysis and commentary on recent data provided by Redfin that captures housing affordability for teachers in every market served by the brokerage.

“San Jose, in the heart of California’s Silicon Valley, is the worst place for a teacher to buy a home, according to Redfin. There, only 1% of homes are affordable, which in this case means a median-earning teacher wouldn’t have to spend more than 28% of their pre-tax income on their monthly mortgage, taxes and insurance payment.”

California is home to most of the least affordable real estate markets for teachers—but not all. Colorado and Texas also make the top ten: “The same problem exists throughout coastal California. Half of the top 10 least affordable places for teachers are in the Golden State…Four are in Colorado and the other is Austin Texas.”

The article also includes an extensive chart listing median salary, maximum affordable price, and percentage of affordable or-sale homes, among other data points, for markets all over the country.

Full Story: Where Can a Teacher Afford to Buy a Home?

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Red necktie with map of Boston

For dads and grads: tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95
Book cover of Where Things Are from Near to Far

Where Things Are From Near to Far

This engaging children's book about planning illustrates that "every building has its place."
$19.95

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245