Month after month, housing prices in metro Atlanta continue to climb at rates we’ve never seen before.
And a recent affordability report released by the Federal Reserve Bank of Atlanta shows the effect those increases have on our ability to buy a house.
The Home Ownership Affordability Monitor (HOAM) Index is an interactive tool that measures the ability of a typical wage-earning household to afford the typical house in any given market. It uses the HUD standard for affordability — generally accepted to be 30% of a household’s pre-tax income. Anything more is considered unaffordable.
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