Atlanta long has had a reputation for affordable housing. Compared to the national average, the city is still one of the most affordable, large metro areas.
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Last year the average Fulton County homeowner spent about 25.8 percent of their income on housing, that’s according to RealtyTrac, a website that tracks home price trends.
On average, experts say housing should account for about a third of a family’s annual income. That figure comes, in part, from the 1937 United States National Housing Act, which set income limits for recipients of public housing subsidies.
In this installment of “Closer Look’s” affordable housing series, Rose Scott and Jim Burress speak to housing economy expert John Hunt, founder and principal of MarketNSight and president of ViaSearch.
They discussed several common factors driving current housing market trends in Atlanta, including public schools, Millennial renters and homebuyers, frequency of moving and housing inventory levels.
Hunt also detailed the percentage of homes in certain metro Atlanta counties priced at $150,000 or less.